Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 851 · 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.Ananya’s record for a rainy day:
   Income: ₹150 (sales)
   Expense: ₹10 (stall fee)
   Expense: ₹190 (paper cups)
   How much is the loss (in ₹)?
2. 2.📒 Income or expense: payment for a cake order? (a) expense (b) income
3. 3.Gurpreet’s record for a rainy day:
   Income: ₹160 (sales)
   Expense: ₹170 (sugar)
   Expense: ₹10 (posters)
   How much is the loss (in ₹)?
4. 4.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) money from sales (d) paying the stall fee
5. 5.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) only the bag (d) the bill or receipt
6. 6.Which of these is income (money in)? (a) cash from selling plants (b) paying the stall fee (c) printing posters (d) buying lemons
7. 7.Joseph’s record for a rainy day:
   Income: ₹70 (sales)
   Expense: ₹80 (sugar)
   Expense: ₹20 (card paper)
   How much is the loss (in ₹)?
8. 8.Nisha’s stall took in ₹280 on Friday, ₹110 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
9. 9.📒 Income or expense: buying lemons? (a) income (b) expense
10. 10.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) once a year (d) never
11. 11.Vihaan’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹140 (transport)
    Expense: ₹70 (paper cups)
    What is the profit (in ₹)?
12. 12.📒 Income or expense: cash from selling plants? (a) expense (b) income
13. 13.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) buying paper cups (d) a card order paid
14. 14.Arjun’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹70 (transport)
    Expense: ₹220 (paper cups)
    How much is the loss (in ₹)?
15. 15.True or false: “cash from selling plants” is income (money in). (a) False (b) True
16. 16.📒 Income or expense: money from sales? (a) expense (b) income
17. 17.📒 Income or expense: printing posters? (a) income (b) expense
18. 18.Lakshmi’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹30 (transport)
    Expense: ₹90 (paper cups)
    How much is the loss (in ₹)?
19. 19.Which of these is an expense (money out)? (a) paying the stall fee (b) payment for a cake order (c) tutoring fees received (d) money from sales
20. 20.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
21. 21.Lakshmi’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹150 (ribbon)
    Expense: ₹160 (paper cups)
    How much is the loss (in ₹)?
22. 22.Kavya’s stall took in ₹210 on Friday, ₹250 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
23. 23.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) tutoring fees received (d) buying paper cups
24. 24.📒 Income or expense: tutoring fees received? (a) expense (b) income
25. 25.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
26. 26.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
27. 27.Ishaan’s stall took in ₹290 on Friday, ₹380 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
28. 28.Which of these is income (money in)? (a) paying the stall fee (b) payment for a cake order (c) bus fare to the market (d) buying paper cups
29. 29.True or false: “money from sales” is income (money in). (a) False (b) True
30. 30.True or false: “paying the stall fee” is income (money in). (a) False (b) True
31. 31.True or false: “buying lemons” is an expense (money out). (a) True (b) False
32. 32.Aarav’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹100 (stall fee)
    Expense: ₹20 (transport)
    What is the profit (in ₹)?
33. 33.True or false: “a card order paid” is an expense (money out). (a) True (b) False
34. 34.📒 Income or expense: a card order paid? (a) income (b) expense
35. 35.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to fill a notebook (d) to look busy
36. 36.True or false: “a card order paid” is income (money in). (a) True (b) False
37. 37.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) payment for a cake order (d) bus fare to the market
38. 38.Nisha’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹120 (sugar)
    Expense: ₹20 (stall fee)
    What is the profit (in ₹)?
39. 39.Saanvi’s income was ₹430 and the profit was ₹290. One expense was ₹80 (sugar). How much was the other expense, for paper cups (in ₹)?
40. 40.Diya’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹160 (transport)
    Expense: ₹60 (lemons)
    How much is the loss (in ₹)?

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