Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 866 · 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: “buying lemons” is an expense (money out). (a) False (b) True
2. 2.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) nothing (d) only the bag
3. 3.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
4. 4.📒 Income or expense: paying the stall fee? (a) income (b) expense
5. 5.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) expenses − income (d) just the income
6. 6.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) buying lemons (d) cash from selling plants
7. 7.Ishaan’s record for a rainy day:
   Income: ₹260 (sales)
   Expense: ₹300 (card paper)
   Expense: ₹60 (paper cups)
   How much is the loss (in ₹)?
8. 8.Meera’s record for the day:
   Income: ₹20 (morning sales)
   Income: ₹270 (evening sales)
   Expense: ₹130 (posters)
   Expense: ₹120 (paper cups)
   What is the profit (in ₹)?
9. 9.Gurpreet’s record for a rainy day:
   Income: ₹270 (sales)
   Expense: ₹190 (stall fee)
   Expense: ₹180 (lemons)
   How much is the loss (in ₹)?
10. 10.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) cash from selling plants (d) buying paper cups
11. 11.Zoya’s record for the day:
    Income: ₹430 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹120 (posters)
    Expense: ₹40 (transport)
    What is the profit (in ₹)?
12. 12.Aarav’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹190 (paper cups)
    Expense: ₹200 (sugar)
    What is the profit (in ₹)?
13. 13.Joseph’s income was ₹260 and the profit was ₹40. One expense was ₹150 (ribbon). How much was the other expense, for lemons (in ₹)?
14. 14.Ishaan’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹60 (sugar)
    Expense: ₹170 (posters)
    What is the profit (in ₹)?
15. 15.True or false: “paying the stall fee” is income (money in). (a) True (b) False
16. 16.Which of these is an expense (money out)? (a) payment for a cake order (b) bus fare to the market (c) money from sales (d) cash from selling plants
17. 17.True or false: “cash from selling plants” is income (money in). (a) False (b) True
18. 18.Saanvi’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹200 (paper cups)
    Expense: ₹20 (transport)
    What is the profit (in ₹)?
19. 19.Lakshmi’s stall took in ₹280 on Friday, ₹380 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
20. 20.True or false: “printing posters” is income (money in). (a) False (b) True
21. 21.Gurpreet’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹120 (card paper)
    Expense: ₹100 (posters)
    What is the profit (in ₹)?
22. 22.Saanvi’s record for the day:
    Income: ₹380 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹50 (ribbon)
    Expense: ₹180 (stall fee)
    What is the profit (in ₹)?
23. 23.Lakshmi’s record for the day:
    Income: ₹380 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹140 (lemons)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
24. 24.Diya’s income was ₹500 and the profit was ₹130. One expense was ₹90 (card paper). How much was the other expense, for lemons (in ₹)?
25. 25.Joseph’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹20 (card paper)
    Expense: ₹140 (ribbon)
    How much is the loss (in ₹)?
26. 26.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) cash from selling plants (d) bus fare to the market
27. 27.Vihaan’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹130 (sugar)
    Expense: ₹30 (ribbon)
    How much is the loss (in ₹)?
28. 28.📒 Income or expense: cash from selling plants? (a) expense (b) income
29. 29.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
30. 30.Kabir’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹490 (evening sales)
    Expense: ₹180 (paper cups)
    Expense: ₹160 (card paper)
    What is the profit (in ₹)?
31. 31.Aarav’s stall took in ₹290 on Friday, ₹240 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
32. 32.Tara’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹130 (sugar)
    Expense: ₹160 (paper cups)
    What is the profit (in ₹)?
33. 33.📒 Income or expense: bus fare to the market? (a) expense (b) income
34. 34.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) to look busy (d) no reason
35. 35.📒 Income or expense: a card order paid? (a) expense (b) income
36. 36.Lakshmi’s stall took in ₹220 on Friday, ₹90 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
37. 37.Rohan’s income was ₹130 and the profit was ₹70. One expense was ₹40 (card paper). How much was the other expense, for ribbon (in ₹)?
38. 38.📒 Income or expense: tutoring fees received? (a) expense (b) income
39. 39.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
40. 40.Ananya’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹190 (posters)
    Expense: ₹70 (lemons)
    How much is the loss (in ₹)?

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