Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 858 · 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.Farhan’s record for the day:
   Income: ₹60 (morning sales)
   Income: ₹200 (evening sales)
   Expense: ₹70 (posters)
   Expense: ₹20 (paper cups)
   What is the profit (in ₹)?
2. 2.Which of these is income (money in)? (a) tutoring fees received (b) paying the stall fee (c) buying paper cups (d) bus fare to the market
3. 3.Vihaan’s stall took in ₹120 on Friday, ₹340 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
4. 4.Diya’s record for the day:
   Income: ₹650 (morning sales)
   Income: ₹30 (evening sales)
   Expense: ₹200 (card paper)
   Expense: ₹190 (posters)
   What is the profit (in ₹)?
5. 5.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
6. 6.📒 Income or expense: buying lemons? (a) expense (b) income
7. 7.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
8. 8.Ishaan’s stall took in ₹250 on Friday, ₹170 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
9. 9.Ananya’s income was ₹390 and the profit was ₹150. One expense was ₹180 (card paper). How much was the other expense, for posters (in ₹)?
10. 10.Ananya’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹230 (card paper)
    Expense: ₹30 (paper cups)
    How much is the loss (in ₹)?
11. 11.📅 When is the best time to update your records? (a) never (b) the same day (c) whenever you like (d) once a year
12. 12.Farhan’s income was ₹190 and the profit was ₹30. One expense was ₹40 (transport). How much was the other expense, for paper cups (in ₹)?
13. 13.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) to fill a notebook (d) no reason
14. 14.➖ Profit in your records = (a) income + expenses (b) just the income (c) expenses − income (d) income − expenses
15. 15.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
16. 16.Aarav’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹80 (sugar)
    Expense: ₹170 (ribbon)
    How much is the loss (in ₹)?
17. 17.Dev’s stall took in ₹110 on Friday, ₹270 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
18. 18.True or false: “a card order paid” is an expense (money out). (a) True (b) False
19. 19.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) only the bag (d) nothing
20. 20.📒 Income or expense: bus fare to the market? (a) income (b) expense
21. 21.📒 Income or expense: cash from selling plants? (a) expense (b) income
22. 22.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) tutoring fees received (d) paying the stall fee
23. 23.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) a card order paid (d) buying lemons
24. 24.📒 Income or expense: money from sales? (a) expense (b) income
25. 25.Riya’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹60 (stall fee)
    Expense: ₹50 (lemons)
    What is the profit (in ₹)?
26. 26.Which of these is income (money in)? (a) payment for a cake order (b) printing posters (c) bus fare to the market (d) buying lemons
27. 27.True or false: “printing posters” is an expense (money out). (a) True (b) False
28. 28.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) buying lemons (d) money from sales
29. 29.Farhan’s stall took in ₹290 on Friday, ₹130 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
30. 30.True or false: “buying lemons” is income (money in). (a) True (b) False
31. 31.Kavya’s stall took in ₹120 on Friday, ₹80 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
32. 32.Rohan’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹10 (card paper)
    Expense: ₹290 (lemons)
    How much is the loss (in ₹)?
33. 33.Which of these is income (money in)? (a) bus fare to the market (b) cash from selling plants (c) buying lemons (d) buying paper cups
34. 34.Meera’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹60 (posters)
    Expense: ₹30 (transport)
    What is the profit (in ₹)?
35. 35.True or false: “a card order paid” is income (money in). (a) True (b) False
36. 36.Kavya’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹170 (lemons)
    Expense: ₹20 (stall fee)
    What is the profit (in ₹)?
37. 37.Zoya’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹40 (stall fee)
    Expense: ₹180 (posters)
    How much is the loss (in ₹)?
38. 38.📒 Income or expense: printing posters? (a) expense (b) income
39. 39.Lakshmi’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹90 (stall fee)
    Expense: ₹70 (lemons)
    How much is the loss (in ₹)?
40. 40.Nisha’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹150 (paper cups)
    Expense: ₹20 (sugar)
    How much is the loss (in ₹)?

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