Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 871 · 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: “printing posters” is an expense (money out). (a) True (b) False
2. 2.Arjun’s income was ₹100 and the profit was ₹60. One expense was ₹10 (posters). How much was the other expense, for stall fee (in ₹)?
3. 3.Which of these is income (money in)? (a) buying paper cups (b) money from sales (c) buying lemons (d) printing posters
4. 4.Nisha’s record for a rainy day:
   Income: ₹60 (sales)
   Expense: ₹70 (posters)
   Expense: ₹20 (ribbon)
   How much is the loss (in ₹)?
5. 5.📒 Income or expense: buying lemons? (a) expense (b) income
6. 6.📅 When is the best time to update your records? (a) never (b) once a year (c) the same day (d) whenever you like
7. 7.True or false: “bus fare to the market” is income (money in). (a) True (b) False
8. 8.Gurpreet’s record for a rainy day:
   Income: ₹60 (sales)
   Expense: ₹50 (posters)
   Expense: ₹60 (paper cups)
   How much is the loss (in ₹)?
9. 9.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) just the income (d) income + expenses
10. 10.Rohan’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹60 (lemons)
    Expense: ₹200 (ribbon)
    What is the profit (in ₹)?
11. 11.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
12. 12.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) cash from selling plants (d) printing posters
13. 13.📒 Income or expense: payment for a cake order? (a) expense (b) income
14. 14.📒 Income or expense: bus fare to the market? (a) income (b) expense
15. 15.📒 Income or expense: printing posters? (a) income (b) expense
16. 16.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to know the real profit (d) to fill a notebook
17. 17.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) tutoring fees received (d) buying lemons
18. 18.Which of these is an expense (money out)? (a) paying the stall fee (b) tutoring fees received (c) cash from selling plants (d) payment for a cake order
19. 19.Vihaan’s stall took in ₹80 on Friday, ₹110 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
20. 20.Zoya’s income was ₹310 and the profit was ₹180. One expense was ₹40 (lemons). How much was the other expense, for card paper (in ₹)?
21. 21.Joseph’s income was ₹240 and the profit was ₹80. One expense was ₹130 (sugar). How much was the other expense, for stall fee (in ₹)?
22. 22.Dev’s income was ₹330 and the profit was ₹140. One expense was ₹90 (paper cups). How much was the other expense, for sugar (in ₹)?
23. 23.Ishaan’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹60 (transport)
    Expense: ₹130 (stall fee)
    How much is the loss (in ₹)?
24. 24.Riya’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹290 (paper cups)
    Expense: ₹10 (sugar)
    How much is the loss (in ₹)?
25. 25.Meera’s stall took in ₹390 on Friday, ₹220 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
26. 26.Rohan’s stall took in ₹190 on Friday, ₹230 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
27. 27.Rohan’s stall took in ₹140 on Friday, ₹370 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
28. 28.Saanvi’s income was ₹460 and the profit was ₹280. One expense was ₹90 (stall fee). How much was the other expense, for lemons (in ₹)?
29. 29.Vihaan’s income was ₹310 and the profit was ₹160. One expense was ₹90 (paper cups). How much was the other expense, for ribbon (in ₹)?
30. 30.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt
31. 31.Aarav’s record for the day:
    Income: ₹360 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹40 (stall fee)
    Expense: ₹190 (ribbon)
    What is the profit (in ₹)?
32. 32.Gurpreet’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹130 (transport)
    Expense: ₹130 (stall fee)
    How much is the loss (in ₹)?
33. 33.Which of these is an expense (money out)? (a) buying lemons (b) tutoring fees received (c) a card order paid (d) cash from selling plants
34. 34.Saanvi’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹140 (lemons)
    Expense: ₹70 (transport)
    What is the profit (in ₹)?
35. 35.Saanvi’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹80 (stall fee)
    Expense: ₹60 (lemons)
    How much is the loss (in ₹)?
36. 36.True or false: “a card order paid” is income (money in). (a) False (b) True
37. 37.📒 Income or expense: paying the stall fee? (a) income (b) expense
38. 38.True or false: “buying lemons” is income (money in). (a) False (b) True
39. 39.Ananya’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹110 (stall fee)
    Expense: ₹30 (sugar)
    What is the profit (in ₹)?
40. 40.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) buying paper cups (d) a card order paid

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