Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 932 · 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.Rohan’s record for the day:
   Income: ₹170 (morning sales)
   Income: ₹50 (evening sales)
   Expense: ₹60 (posters)
   Expense: ₹110 (paper cups)
   What is the profit (in ₹)?
2. 2.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) payment for a cake order (d) paying the stall fee
3. 3.True or false: “cash from selling plants” is income (money in). (a) False (b) True
4. 4.Ishaan’s stall took in ₹310 on Friday, ₹100 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
5. 5.📒 Income or expense: bus fare to the market? (a) expense (b) income
6. 6.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) money from sales (d) buying lemons
7. 7.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) printing posters (d) payment for a cake order
8. 8.Farhan’s record for the day:
   Income: ₹280 (morning sales)
   Income: ₹140 (evening sales)
   Expense: ₹180 (transport)
   Expense: ₹20 (stall fee)
   What is the profit (in ₹)?
9. 9.📒 Income or expense: cash from selling plants? (a) expense (b) income
10. 10.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) payment for a cake order (d) bus fare to the market
11. 11.Arjun’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹90 (card paper)
    Expense: ₹90 (sugar)
    What is the profit (in ₹)?
12. 12.Zoya’s stall took in ₹320 on Friday, ₹190 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
13. 13.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) a card order paid (d) paying the stall fee
14. 14.📅 When is the best time to update your records? (a) whenever you like (b) never (c) the same day (d) once a year
15. 15.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
16. 16.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) paying the stall fee (d) cash from selling plants
17. 17.Kabir’s income was ₹200 and the profit was ₹170. One expense was ₹10 (stall fee). How much was the other expense, for sugar (in ₹)?
18. 18.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to look busy (d) to fill a notebook
19. 19.True or false: “payment for a cake order” is income (money in). (a) True (b) False
20. 20.📒 Income or expense: tutoring fees received? (a) expense (b) income
21. 21.📒 Income or expense: buying paper cups? (a) income (b) expense
22. 22.Vihaan’s income was ₹410 and the profit was ₹100. One expense was ₹230 (ribbon). How much was the other expense, for sugar (in ₹)?
23. 23.Lakshmi’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹170 (paper cups)
    Expense: ₹90 (ribbon)
    What is the profit (in ₹)?
24. 24.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) tutoring fees received (d) buying lemons
25. 25.📒 Income or expense: printing posters? (a) income (b) expense
26. 26.True or false: “buying lemons” is income (money in). (a) False (b) True
27. 27.True or false: “paying the stall fee” is income (money in). (a) False (b) True
28. 28.True or false: “buying lemons” is an expense (money out). (a) True (b) False
29. 29.Kavya’s income was ₹500 and the profit was ₹30. One expense was ₹40 (ribbon). How much was the other expense, for card paper (in ₹)?
30. 30.Dev’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹90 (transport)
    Expense: ₹160 (posters)
    What is the profit (in ₹)?
31. 31.True or false: “tutoring fees received” is income (money in). (a) False (b) True
32. 32.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) a selfie (d) nothing
33. 33.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
34. 34.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) income + expenses (d) just the income
35. 35.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
36. 36.Dev’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹140 (paper cups)
    Expense: ₹150 (posters)
    What is the profit (in ₹)?
37. 37.📒 Income or expense: paying the stall fee? (a) income (b) expense
38. 38.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) printing posters (d) cash from selling plants
39. 39.Saanvi’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹100 (transport)
    Expense: ₹140 (stall fee)
    How much is the loss (in ₹)?
40. 40.Rohan’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹510 (evening sales)
    Expense: ₹150 (stall fee)
    Expense: ₹140 (transport)
    What is the profit (in ₹)?

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