Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 90 · 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.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) buying paper cups (d) cash from selling plants
2. 2.Which of these is an expense (money out)? (a) buying lemons (b) a card order paid (c) money from sales (d) tutoring fees received
3. 3.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) the bill or receipt (d) only the bag
4. 4.Dev’s stall took in ₹320 on Friday, ₹320 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
5. 5.📒 Income or expense: printing posters? (a) income (b) expense
6. 6.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
7. 7.Kabir’s record for the day:
   Income: ₹140 (morning sales)
   Income: ₹180 (evening sales)
   Expense: ₹110 (paper cups)
   Expense: ₹70 (transport)
   What is the profit (in ₹)?
8. 8.Tara’s record for a rainy day:
   Income: ₹120 (sales)
   Expense: ₹140 (posters)
   Expense: ₹10 (sugar)
   How much is the loss (in ₹)?
9. 9.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) to know the real profit (d) no reason
10. 10.Ananya’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹60 (stall fee)
    Expense: ₹100 (transport)
    What is the profit (in ₹)?
11. 11.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
12. 12.📒 Income or expense: buying paper cups? (a) income (b) expense
13. 13.📒 Income or expense: payment for a cake order? (a) expense (b) income
14. 14.➖ Profit in your records = (a) income − expenses (b) just the income (c) expenses − income (d) income + expenses
15. 15.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
16. 16.📒 Income or expense: buying lemons? (a) income (b) expense
17. 17.Gurpreet’s stall took in ₹90 on Friday, ₹240 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
18. 18.Rohan’s stall took in ₹160 on Friday, ₹50 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
19. 19.True or false: “money from sales” is an expense (money out). (a) True (b) False
20. 20.Nisha’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹130 (posters)
    Expense: ₹20 (card paper)
    How much is the loss (in ₹)?
21. 21.Zoya’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹160 (lemons)
    Expense: ₹80 (paper cups)
    What is the profit (in ₹)?
22. 22.📅 When is the best time to update your records? (a) once a year (b) the same day (c) never (d) whenever you like
23. 23.📒 Income or expense: tutoring fees received? (a) income (b) expense
24. 24.Which of these is an expense (money out)? (a) paying the stall fee (b) a card order paid (c) money from sales (d) payment for a cake order
25. 25.Lakshmi’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹190 (ribbon)
    Expense: ₹130 (transport)
    How much is the loss (in ₹)?
26. 26.Aarav’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹20 (posters)
    Expense: ₹120 (paper cups)
    How much is the loss (in ₹)?
27. 27.Meera’s income was ₹200 and the profit was ₹180. One expense was ₹10 (card paper). How much was the other expense, for stall fee (in ₹)?
28. 28.Gurpreet’s income was ₹260 and the profit was ₹30. One expense was ₹50 (stall fee). How much was the other expense, for paper cups (in ₹)?
29. 29.Which of these is income (money in)? (a) paying the stall fee (b) money from sales (c) bus fare to the market (d) printing posters
30. 30.📒 Income or expense: a card order paid? (a) income (b) expense
31. 31.Kabir’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹180 (lemons)
    Expense: ₹60 (posters)
    What is the profit (in ₹)?
32. 32.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) bus fare to the market (d) payment for a cake order
33. 33.Which of these is an expense (money out)? (a) buying paper cups (b) payment for a cake order (c) money from sales (d) tutoring fees received
34. 34.True or false: “cash from selling plants” is income (money in). (a) True (b) False
35. 35.Nisha’s income was ₹260 and the profit was ₹240. One expense was ₹10 (ribbon). How much was the other expense, for transport (in ₹)?
36. 36.Meera’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹70 (ribbon)
    Expense: ₹10 (stall fee)
    How much is the loss (in ₹)?
37. 37.Riya’s stall took in ₹240 on Friday, ₹370 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
38. 38.Saanvi’s stall took in ₹60 on Friday, ₹330 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
39. 39.Arjun’s stall took in ₹220 on Friday, ₹120 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
40. 40.Saanvi’s income was ₹260 and the profit was ₹200. One expense was ₹20 (card paper). How much was the other expense, for transport (in ₹)?

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