Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 901 · 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: tutoring fees received? (a) income (b) expense
2. 2.True or false: “a card order paid” is income (money in). (a) False (b) True
3. 3.Nisha’s income was ₹340 and the profit was ₹90. One expense was ₹190 (posters). How much was the other expense, for card paper (in ₹)?
4. 4.📒 Income or expense: payment for a cake order? (a) income (b) expense
5. 5.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
6. 6.📒 Income or expense: buying paper cups? (a) income (b) expense
7. 7.Riya’s record for the day:
   Income: ₹130 (morning sales)
   Income: ₹10 (evening sales)
   Expense: ₹50 (lemons)
   Expense: ₹20 (ribbon)
   What is the profit (in ₹)?
8. 8.📅 When is the best time to update your records? (a) the same day (b) never (c) whenever you like (d) once a year
9. 9.Kabir’s record for the day:
   Income: ₹210 (morning sales)
   Income: ₹200 (evening sales)
   Expense: ₹180 (ribbon)
   Expense: ₹190 (transport)
   What is the profit (in ₹)?
10. 10.Dev’s stall took in ₹320 on Friday, ₹240 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
11. 11.Dev’s income was ₹120 and the profit was ₹100. One expense was ₹10 (ribbon). How much was the other expense, for lemons (in ₹)?
12. 12.Diya’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹270 (posters)
    Expense: ₹50 (paper cups)
    How much is the loss (in ₹)?
13. 13.Kavya’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹20 (ribbon)
    Expense: ₹130 (lemons)
    What is the profit (in ₹)?
14. 14.📒 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
15. 15.Farhan’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹130 (transport)
    Expense: ₹130 (lemons)
    What is the profit (in ₹)?
16. 16.📒 Income or expense: a card order paid? (a) income (b) expense
17. 17.📒 Income or expense: buying lemons? (a) income (b) expense
18. 18.Which of these is an expense (money out)? (a) buying lemons (b) cash from selling plants (c) money from sales (d) payment for a cake order
19. 19.Kabir’s income was ₹260 and the profit was ₹50. One expense was ₹180 (paper cups). How much was the other expense, for stall fee (in ₹)?
20. 20.📒 Income or expense: paying the stall fee? (a) expense (b) income
21. 21.True or false: “buying paper cups” is income (money in). (a) True (b) False
22. 22.True or false: “payment for a cake order” is income (money in). (a) True (b) False
23. 23.Which of these is income (money in)? (a) printing posters (b) money from sales (c) paying the stall fee (d) buying lemons
24. 24.Rohan’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹170 (posters)
    Expense: ₹110 (card paper)
    What is the profit (in ₹)?
25. 25.➖ Profit in your records = (a) expenses − income (b) just the income (c) income − expenses (d) income + expenses
26. 26.Dev’s stall took in ₹270 on Friday, ₹380 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
27. 27.📒 Income or expense: cash from selling plants? (a) expense (b) income
28. 28.Ishaan’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹160 (transport)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
29. 29.Farhan’s income was ₹170 and the profit was ₹150. One expense was ₹10 (stall fee). How much was the other expense, for lemons (in ₹)?
30. 30.Vihaan’s stall took in ₹380 on Friday, ₹140 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
31. 31.📒 Income or expense: money from sales? (a) expense (b) income
32. 32.Tara’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹140 (sugar)
    Expense: ₹80 (paper cups)
    What is the profit (in ₹)?
33. 33.Kavya’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹90 (ribbon)
    Expense: ₹90 (card paper)
    How much is the loss (in ₹)?
34. 34.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
35. 35.True or false: “buying lemons” is income (money in). (a) True (b) False
36. 36.True or false: “a card order paid” is an expense (money out). (a) False (b) True
37. 37.Vihaan’s stall took in ₹330 on Friday, ₹150 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
38. 38.Which of these is an expense (money out)? (a) a card order paid (b) printing posters (c) cash from selling plants (d) payment for a cake order
39. 39.Meera’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹200 (ribbon)
    Expense: ₹60 (posters)
    What is the profit (in ₹)?
40. 40.Ishaan’s stall took in ₹130 on Friday, ₹200 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?

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