Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 898 · 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: cash from selling plants? (a) income (b) expense
2. 2.📒 Income or expense: tutoring fees received? (a) expense (b) income
3. 3.📒 Income or expense: bus fare to the market? (a) expense (b) income
4. 4.Ishaan’s income was ₹100 and the profit was ₹80. One expense was ₹10 (ribbon). How much was the other expense, for stall fee (in ₹)?
5. 5.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) to know the real profit (d) no reason
6. 6.📒 Income or expense: payment for a cake order? (a) income (b) expense
7. 7.Ishaan’s record for the day:
   Income: ₹410 (morning sales)
   Income: ₹20 (evening sales)
   Expense: ₹40 (paper cups)
   Expense: ₹100 (transport)
   What is the profit (in ₹)?
8. 8.True or false: “bus fare to the market” is income (money in). (a) True (b) False
9. 9.Kavya’s income was ₹340 and the profit was ₹220. One expense was ₹60 (paper cups). How much was the other expense, for transport (in ₹)?
10. 10.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) paying the stall fee (d) money from sales
11. 11.Farhan’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹140 (posters)
    Expense: ₹110 (stall fee)
    What is the profit (in ₹)?
12. 12.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) buying paper cups (d) tutoring fees received
13. 13.📅 When is the best time to update your records? (a) never (b) whenever you like (c) the same day (d) once a year
14. 14.Kavya’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹190 (sugar)
    Expense: ₹190 (posters)
    What is the profit (in ₹)?
15. 15.Lakshmi’s stall took in ₹160 on Friday, ₹150 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
16. 16.Kabir’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹100 (transport)
    Expense: ₹140 (stall fee)
    What is the profit (in ₹)?
17. 17.Rohan’s income was ₹480 and the profit was ₹140. One expense was ₹40 (stall fee). How much was the other expense, for lemons (in ₹)?
18. 18.Which of these is income (money in)? (a) buying paper cups (b) payment for a cake order (c) paying the stall fee (d) bus fare to the market
19. 19.Aarav’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹90 (lemons)
    Expense: ₹80 (posters)
    How much is the loss (in ₹)?
20. 20.Aarav’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹60 (transport)
    Expense: ₹80 (sugar)
    What is the profit (in ₹)?
21. 21.Arjun’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹40 (lemons)
    Expense: ₹50 (paper cups)
    How much is the loss (in ₹)?
22. 22.True or false: “paying the stall fee” is income (money in). (a) False (b) True
23. 23.Kavya’s income was ₹360 and the profit was ₹80. One expense was ₹140 (transport). How much was the other expense, for card paper (in ₹)?
24. 24.Rohan’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹60 (lemons)
    Expense: ₹110 (paper cups)
    What is the profit (in ₹)?
25. 25.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
26. 26.Saanvi’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹20 (stall fee)
    Expense: ₹70 (sugar)
    What is the profit (in ₹)?
27. 27.Zoya’s income was ₹160 and the profit was ₹110. One expense was ₹40 (card paper). How much was the other expense, for ribbon (in ₹)?
28. 28.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
29. 29.Which of these is income (money in)? (a) cash from selling plants (b) paying the stall fee (c) printing posters (d) bus fare to the market
30. 30.Meera’s income was ₹190 and the profit was ₹60. One expense was ₹70 (ribbon). How much was the other expense, for card paper (in ₹)?
31. 31.Which of these is income (money in)? (a) printing posters (b) a card order paid (c) paying the stall fee (d) buying paper cups
32. 32.📒 Income or expense: buying paper cups? (a) expense (b) income
33. 33.➖ Profit in your records = (a) just the income (b) income − expenses (c) income + expenses (d) expenses − income
34. 34.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) a selfie (d) only the bag
35. 35.True or false: “buying paper cups” is income (money in). (a) False (b) True
36. 36.Lakshmi’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹440 (evening sales)
    Expense: ₹140 (paper cups)
    Expense: ₹140 (stall fee)
    What is the profit (in ₹)?
37. 37.Riya’s income was ₹170 and the profit was ₹40. One expense was ₹10 (ribbon). How much was the other expense, for posters (in ₹)?
38. 38.Rohan’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹90 (stall fee)
    Expense: ₹140 (sugar)
    How much is the loss (in ₹)?
39. 39.True or false: “buying lemons” is income (money in). (a) True (b) False
40. 40.True or false: “printing posters” is income (money in). (a) True (b) False

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