Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 908 · 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) income (b) expense
2. 2.True or false: “buying paper cups” is income (money in). (a) True (b) False
3. 3.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) money from sales (d) bus fare to the market
4. 4.Kavya’s income was ₹320 and the profit was ₹130. One expense was ₹30 (posters). How much was the other expense, for paper cups (in ₹)?
5. 5.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) the bill or receipt (d) a selfie
6. 6.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to look busy (d) to know the real profit
7. 7.Riya’s income was ₹160 and the profit was ₹90. One expense was ₹30 (transport). How much was the other expense, for ribbon (in ₹)?
8. 8.Joseph’s stall took in ₹180 on Friday, ₹380 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
9. 9.📒 Income or expense: buying paper cups? (a) expense (b) income
10. 10.Nisha’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹80 (posters)
    Expense: ₹20 (transport)
    How much is the loss (in ₹)?
11. 11.Vihaan’s stall took in ₹280 on Friday, ₹100 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
12. 12.True or false: “tutoring fees received” is income (money in). (a) False (b) True
13. 13.📒 Income or expense: cash from selling plants? (a) expense (b) income
14. 14.Which of these is income (money in)? (a) bus fare to the market (b) a card order paid (c) printing posters (d) buying lemons
15. 15.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) tutoring fees received (d) buying paper cups
16. 16.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) payment for a cake order (d) printing posters
17. 17.📅 When is the best time to update your records? (a) never (b) once a year (c) the same day (d) whenever you like
18. 18.True or false: “money from sales” is an expense (money out). (a) True (b) False
19. 19.Ananya’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹30 (posters)
    Expense: ₹150 (lemons)
    What is the profit (in ₹)?
20. 20.Tara’s record for the day:
    Income: ₹420 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹130 (lemons)
    Expense: ₹200 (card paper)
    What is the profit (in ₹)?
21. 21.Gurpreet’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹120 (card paper)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
22. 22.Ananya’s income was ₹370 and the profit was ₹220. One expense was ₹60 (stall fee). How much was the other expense, for paper cups (in ₹)?
23. 23.Lakshmi’s income was ₹450 and the profit was ₹400. One expense was ₹30 (lemons). How much was the other expense, for ribbon (in ₹)?
24. 24.Ananya’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹30 (sugar)
    Expense: ₹130 (lemons)
    How much is the loss (in ₹)?
25. 25.True or false: “a card order paid” is an expense (money out). (a) False (b) True
26. 26.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
27. 27.Aarav’s stall took in ₹190 on Friday, ₹80 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
28. 28.True or false: “buying lemons” is income (money in). (a) True (b) False
29. 29.📒 Income or expense: paying the stall fee? (a) income (b) expense
30. 30.Tara’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹40 (paper cups)
    Expense: ₹120 (sugar)
    How much is the loss (in ₹)?
31. 31.Riya’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹90 (sugar)
    Expense: ₹20 (card paper)
    What is the profit (in ₹)?
32. 32.Which of these is an expense (money out)? (a) paying the stall fee (b) a card order paid (c) cash from selling plants (d) tutoring fees received
33. 33.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
34. 34.📒 Income or expense: tutoring fees received? (a) expense (b) income
35. 35.Diya’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹30 (lemons)
    Expense: ₹210 (stall fee)
    How much is the loss (in ₹)?
36. 36.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) buying paper cups (d) cash from selling plants
37. 37.Zoya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹80 (card paper)
    Expense: ₹100 (transport)
    What is the profit (in ₹)?
38. 38.Arjun’s stall took in ₹220 on Friday, ₹200 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
39. 39.Rohan’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹200 (stall fee)
    Expense: ₹20 (ribbon)
    What is the profit (in ₹)?
40. 40.True or false: “paying the stall fee” is income (money in). (a) True (b) False

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