Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 880 · 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: “payment for a cake order” is an expense (money out). (a) False (b) True
2. 2.Tara’s record for the day:
   Income: ₹230 (morning sales)
   Income: ₹230 (evening sales)
   Expense: ₹160 (card paper)
   Expense: ₹50 (lemons)
   What is the profit (in ₹)?
3. 3.📒 Income or expense: printing posters? (a) expense (b) income
4. 4.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) printing posters (d) payment for a cake order
5. 5.📅 When is the best time to update your records? (a) never (b) the same day (c) whenever you like (d) once a year
6. 6.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) buying lemons (d) a card order paid
7. 7.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) printing posters (d) cash from selling plants
8. 8.Zoya’s record for a rainy day:
   Income: ₹120 (sales)
   Expense: ₹70 (paper cups)
   Expense: ₹70 (transport)
   How much is the loss (in ₹)?
9. 9.Riya’s record for the day:
   Income: ₹370 (morning sales)
   Income: ₹110 (evening sales)
   Expense: ₹130 (lemons)
   Expense: ₹180 (stall fee)
   What is the profit (in ₹)?
10. 10.Meera’s stall took in ₹230 on Friday, ₹310 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
11. 11.Zoya’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹150 (paper cups)
    Expense: ₹170 (transport)
    How much is the loss (in ₹)?
12. 12.📒 Income or expense: money from sales? (a) income (b) expense
13. 13.📒 Income or expense: payment for a cake order? (a) income (b) expense
14. 14.Nisha’s stall took in ₹220 on Friday, ₹210 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
15. 15.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) printing posters (d) tutoring fees received
16. 16.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
17. 17.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) printing posters (d) payment for a cake order
18. 18.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) nothing (d) the bill or receipt
19. 19.Meera’s income was ₹460 and the profit was ₹190. One expense was ₹200 (ribbon). How much was the other expense, for lemons (in ₹)?
20. 20.Saanvi’s income was ₹490 and the profit was ₹150. One expense was ₹20 (posters). How much was the other expense, for paper cups (in ₹)?
21. 21.Ananya’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹70 (transport)
    Expense: ₹10 (stall fee)
    How much is the loss (in ₹)?
22. 22.Farhan’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹20 (posters)
    Expense: ₹120 (transport)
    How much is the loss (in ₹)?
23. 23.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
24. 24.Ananya’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹210 (stall fee)
    Expense: ₹110 (lemons)
    How much is the loss (in ₹)?
25. 25.Joseph’s stall took in ₹100 on Friday, ₹350 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
26. 26.Which of these is an expense (money out)? (a) bus fare to the market (b) payment for a cake order (c) cash from selling plants (d) a card order paid
27. 27.Kabir’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹30 (ribbon)
    Expense: ₹140 (lemons)
    How much is the loss (in ₹)?
28. 28.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) income − expenses (d) just the income
29. 29.📒 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
30. 30.True or false: “paying the stall fee” is income (money in). (a) True (b) False
31. 31.True or false: “payment for a cake order” is income (money in). (a) False (b) True
32. 32.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
33. 33.Lakshmi’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹100 (transport)
    Expense: ₹90 (sugar)
    How much is the loss (in ₹)?
34. 34.Ishaan’s stall took in ₹230 on Friday, ₹90 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
35. 35.Which of these is an expense (money out)? (a) tutoring fees received (b) paying the stall fee (c) money from sales (d) payment for a cake order
36. 36.📒 Income or expense: cash from selling plants? (a) income (b) expense
37. 37.Saanvi’s income was ₹250 and the profit was ₹80. One expense was ₹50 (sugar). How much was the other expense, for stall fee (in ₹)?
38. 38.📒 Income or expense: tutoring fees received? (a) income (b) expense
39. 39.Rohan’s income was ₹370 and the profit was ₹270. One expense was ₹70 (card paper). How much was the other expense, for paper cups (in ₹)?
40. 40.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) buying paper cups (d) a card order paid

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