Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 84 · 40 questions

Business tip (Money in, money out): Income = money coming in; expense = money going out. Keep every bill or receipt. Profit = total income − total expenses. If expenses are more, loss = expenses − income. Update the record the same day, before you forget.

1. 1.True or false: “money from sales” is income (money in). (a) False (b) True
2. 2.Arjun’s record for a rainy day:
   Income: ₹190 (sales)
   Expense: ₹70 (sugar)
   Expense: ₹180 (ribbon)
   How much is the loss (in ₹)?
3. 3.Arjun’s income was ₹400 and the profit was ₹110. One expense was ₹200 (paper cups). How much was the other expense, for sugar (in ₹)?
4. 4.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt
5. 5.Kabir’s stall took in ₹270 on Friday, ₹390 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
6. 6.📅 When is the best time to update your records? (a) whenever you like (b) never (c) once a year (d) the same day
7. 7.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to know the real profit (d) to fill a notebook
8. 8.Arjun’s record for a rainy day:
   Income: ₹50 (sales)
   Expense: ₹60 (transport)
   Expense: ₹20 (card paper)
   How much is the loss (in ₹)?
9. 9.Rohan’s record for a rainy day:
   Income: ₹240 (sales)
   Expense: ₹110 (card paper)
   Expense: ₹210 (stall fee)
   How much is the loss (in ₹)?
10. 10.Vihaan’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹170 (sugar)
    Expense: ₹100 (paper cups)
    What is the profit (in ₹)?
11. 11.Meera’s stall took in ₹110 on Friday, ₹110 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
12. 12.True or false: “a card order paid” is an expense (money out). (a) False (b) True
13. 13.Riya’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹100 (lemons)
    Expense: ₹20 (card paper)
    What is the profit (in ₹)?
14. 14.Ananya’s income was ₹400 and the profit was ₹230. One expense was ₹150 (transport). How much was the other expense, for lemons (in ₹)?
15. 15.Aarav’s income was ₹140 and the profit was ₹20. One expense was ₹30 (card paper). How much was the other expense, for lemons (in ₹)?
16. 16.Nisha’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹10 (paper cups)
    Expense: ₹300 (stall fee)
    How much is the loss (in ₹)?
17. 17.📒 Income or expense: tutoring fees received? (a) expense (b) income
18. 18.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) payment for a cake order (d) buying lemons
19. 19.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) bus fare to the market (d) a card order paid
20. 20.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) printing posters (d) tutoring fees received
21. 21.📒 Income or expense: money from sales? (a) income (b) expense
22. 22.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
23. 23.Ananya’s stall took in ₹280 on Friday, ₹270 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
24. 24.True or false: “a card order paid” is income (money in). (a) True (b) False
25. 25.Ananya’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹30 (lemons)
    Expense: ₹80 (paper cups)
    How much is the loss (in ₹)?
26. 26.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
27. 27.Diya’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹120 (ribbon)
    Expense: ₹10 (posters)
    How much is the loss (in ₹)?
28. 28.📒 Income or expense: printing posters? (a) expense (b) income
29. 29.📒 Income or expense: bus fare to the market? (a) expense (b) income
30. 30.True or false: “cash from selling plants” is income (money in). (a) False (b) True
31. 31.Diya’s stall took in ₹350 on Friday, ₹60 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
32. 32.📒 Income or expense: payment for a cake order? (a) expense (b) income
33. 33.Rohan’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹30 (paper cups)
    Expense: ₹280 (card paper)
    How much is the loss (in ₹)?
34. 34.Saanvi’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹90 (lemons)
    Expense: ₹20 (posters)
    What is the profit (in ₹)?
35. 35.Vihaan’s income was ₹280 and the profit was ₹40. One expense was ₹200 (lemons). How much was the other expense, for card paper (in ₹)?
36. 36.Zoya’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹90 (lemons)
    Expense: ₹120 (sugar)
    How much is the loss (in ₹)?
37. 37.True or false: “printing posters” is an expense (money out). (a) False (b) True
38. 38.True or false: “tutoring fees received” is income (money in). (a) True (b) False
39. 39.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) money from sales (d) buying paper cups
40. 40.Which of these is an expense (money out)? (a) printing posters (b) tutoring fees received (c) payment for a cake order (d) money from sales

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