Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 861 · 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.Arjun’s record for the day:
   Income: ₹230 (morning sales)
   Income: ₹230 (evening sales)
   Expense: ₹160 (stall fee)
   Expense: ₹70 (transport)
   What is the profit (in ₹)?
2. 2.Meera’s record for the day:
   Income: ₹170 (morning sales)
   Income: ₹40 (evening sales)
   Expense: ₹20 (ribbon)
   Expense: ₹30 (transport)
   What is the profit (in ₹)?
3. 3.Which of these is income (money in)? (a) payment for a cake order (b) printing posters (c) buying lemons (d) paying the stall fee
4. 4.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
5. 5.Which of these is an expense (money out)? (a) tutoring fees received (b) bus fare to the market (c) a card order paid (d) money from sales
6. 6.➖ Profit in your records = (a) just the income (b) expenses − income (c) income − expenses (d) income + expenses
7. 7.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) money from sales (d) bus fare to the market
8. 8.Aarav’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹80 (sugar)
   Expense: ₹100 (lemons)
   How much is the loss (in ₹)?
9. 9.Which of these is income (money in)? (a) tutoring fees received (b) bus fare to the market (c) buying paper cups (d) printing posters
10. 10.Saanvi’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹20 (card paper)
    Expense: ₹110 (lemons)
    What is the profit (in ₹)?
11. 11.True or false: “printing posters” is income (money in). (a) False (b) True
12. 12.True or false: “buying paper cups” is income (money in). (a) True (b) False
13. 13.True or false: “a card order paid” is income (money in). (a) True (b) False
14. 14.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) the same day (d) never
15. 15.Saanvi’s income was ₹400 and the profit was ₹190. One expense was ₹180 (paper cups). How much was the other expense, for ribbon (in ₹)?
16. 16.Kavya’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹40 (sugar)
    Expense: ₹70 (stall fee)
    What is the profit (in ₹)?
17. 17.Which of these is income (money in)? (a) cash from selling plants (b) bus fare to the market (c) buying lemons (d) paying the stall fee
18. 18.📒 Income or expense: paying the stall fee? (a) expense (b) income
19. 19.Which of these is an expense (money out)? (a) payment for a cake order (b) paying the stall fee (c) tutoring fees received (d) money from sales
20. 20.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
21. 21.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) a selfie (d) nothing
22. 22.True or false: “buying lemons” is income (money in). (a) True (b) False
23. 23.Rohan’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹100 (paper cups)
    Expense: ₹20 (transport)
    How much is the loss (in ₹)?
24. 24.True or false: “tutoring fees received” is income (money in). (a) True (b) False
25. 25.Aarav’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹70 (sugar)
    Expense: ₹40 (posters)
    What is the profit (in ₹)?
26. 26.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to fill a notebook (d) to know the real profit
27. 27.Zoya’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹90 (transport)
    Expense: ₹140 (card paper)
    What is the profit (in ₹)?
28. 28.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) buying paper cups (d) money from sales
29. 29.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) printing posters (d) cash from selling plants
30. 30.📒 Income or expense: bus fare to the market? (a) income (b) expense
31. 31.📒 Income or expense: printing posters? (a) income (b) expense
32. 32.Arjun’s stall took in ₹220 on Friday, ₹190 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
33. 33.📒 Income or expense: tutoring fees received? (a) income (b) expense
34. 34.True or false: “money from sales” is income (money in). (a) False (b) True
35. 35.Saanvi’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹150 (card paper)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?
36. 36.Kabir’s stall took in ₹290 on Friday, ₹100 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
37. 37.Tara’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹10 (paper cups)
    Expense: ₹380 (lemons)
    How much is the loss (in ₹)?
38. 38.Farhan’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹150 (card paper)
    Expense: ₹120 (stall fee)
    How much is the loss (in ₹)?
39. 39.Ishaan’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹30 (lemons)
    Expense: ₹100 (posters)
    What is the profit (in ₹)?
40. 40.Nisha’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹70 (paper cups)
    Expense: ₹90 (stall fee)
    How much is the loss (in ₹)?

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