Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 894 · 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.📒 Income or expense: payment for a cake order? (a) expense (b) income
2. 2.Aarav’s record for the day:
   Income: ₹50 (morning sales)
   Income: ₹180 (evening sales)
   Expense: ₹70 (lemons)
   Expense: ₹50 (stall fee)
   What is the profit (in ₹)?
3. 3.📒 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
4. 4.Ishaan’s income was ₹410 and the profit was ₹50. One expense was ₹280 (sugar). How much was the other expense, for paper cups (in ₹)?
5. 5.Gurpreet’s record for the day:
   Income: ₹320 (morning sales)
   Income: ₹20 (evening sales)
   Expense: ₹60 (card paper)
   Expense: ₹90 (posters)
   What is the profit (in ₹)?
6. 6.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) bus fare to the market (d) cash from selling plants
7. 7.📅 When is the best time to update your records? (a) the same day (b) never (c) whenever you like (d) once a year
8. 8.Rohan’s record for a rainy day:
   Income: ₹200 (sales)
   Expense: ₹100 (lemons)
   Expense: ₹150 (card paper)
   How much is the loss (in ₹)?
9. 9.Saanvi’s record for a rainy day:
   Income: ₹80 (sales)
   Expense: ₹30 (stall fee)
   Expense: ₹110 (sugar)
   How much is the loss (in ₹)?
10. 10.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) buying paper cups (d) cash from selling plants
11. 11.📒 Income or expense: buying lemons? (a) income (b) expense
12. 12.📒 Income or expense: buying paper cups? (a) expense (b) income
13. 13.Ananya’s stall took in ₹130 on Friday, ₹140 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
14. 14.True or false: “buying lemons” is an expense (money out). (a) True (b) False
15. 15.True or false: “money from sales” is income (money in). (a) True (b) False
16. 16.Meera’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹170 (transport)
    Expense: ₹50 (sugar)
    How much is the loss (in ₹)?
17. 17.Which of these is income (money in)? (a) bus fare to the market (b) money from sales (c) buying paper cups (d) printing posters
18. 18.Which of these is an expense (money out)? (a) tutoring fees received (b) paying the stall fee (c) payment for a cake order (d) a card order paid
19. 19.Meera’s stall took in ₹50 on Friday, ₹320 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
20. 20.Joseph’s stall took in ₹300 on Friday, ₹140 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
21. 21.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) tutoring fees received (d) paying the stall fee
22. 22.Ishaan’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹180 (transport)
    Expense: ₹140 (ribbon)
    How much is the loss (in ₹)?
23. 23.Dev’s stall took in ₹200 on Friday, ₹270 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
24. 24.True or false: “payment for a cake order” is income (money in). (a) True (b) False
25. 25.Meera’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹20 (transport)
    Expense: ₹30 (stall fee)
    What is the profit (in ₹)?
26. 26.📒 Income or expense: money from sales? (a) income (b) expense
27. 27.Riya’s stall took in ₹230 on Friday, ₹100 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
28. 28.Aarav’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹40 (card paper)
    Expense: ₹140 (ribbon)
    How much is the loss (in ₹)?
29. 29.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
30. 30.Meera’s stall took in ₹280 on Friday, ₹220 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
31. 31.Arjun’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹310 (transport)
    Expense: ₹60 (sugar)
    How much is the loss (in ₹)?
32. 32.Ananya’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹140 (sugar)
    Expense: ₹50 (transport)
    What is the profit (in ₹)?
33. 33.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) payment for a cake order (d) buying paper cups
34. 34.📒 Income or expense: cash from selling plants? (a) expense (b) income
35. 35.📒 Income or expense: a card order paid? (a) expense (b) income
36. 36.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
37. 37.Saanvi’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹110 (stall fee)
    Expense: ₹180 (ribbon)
    How much is the loss (in ₹)?
38. 38.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) only the bag (d) the bill or receipt
39. 39.True or false: “a card order paid” is income (money in). (a) True (b) False
40. 40.Saanvi’s income was ₹360 and the profit was ₹170. One expense was ₹160 (posters). How much was the other expense, for sugar (in ₹)?

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