Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 935 · 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.True or false: “bus fare to the market” is income (money in). (a) True (b) False
2. 2.📅 When is the best time to update your records? (a) once a year (b) never (c) the same day (d) whenever you like
3. 3.Vihaan’s record for a rainy day:
   Income: ₹290 (sales)
   Expense: ₹140 (transport)
   Expense: ₹190 (paper cups)
   How much is the loss (in ₹)?
4. 4.📒 Income or expense: tutoring fees received? (a) income (b) expense
5. 5.Farhan’s record for a rainy day:
   Income: ₹200 (sales)
   Expense: ₹180 (card paper)
   Expense: ₹80 (sugar)
   How much is the loss (in ₹)?
6. 6.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) printing posters (d) a card order paid
7. 7.Diya’s record for the day:
   Income: ₹220 (morning sales)
   Income: ₹100 (evening sales)
   Expense: ₹180 (sugar)
   Expense: ₹60 (ribbon)
   What is the profit (in ₹)?
8. 8.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) buying paper cups (d) tutoring fees received
9. 9.Ishaan’s record for a rainy day:
   Income: ₹170 (sales)
   Expense: ₹10 (lemons)
   Expense: ₹220 (paper cups)
   How much is the loss (in ₹)?
10. 10.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) paying the stall fee (d) tutoring fees received
11. 11.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
12. 12.📒 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
13. 13.Nisha’s income was ₹300 and the profit was ₹40. One expense was ₹190 (transport). How much was the other expense, for paper cups (in ₹)?
14. 14.Lakshmi’s stall took in ₹210 on Friday, ₹350 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
15. 15.Kavya’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹70 (stall fee)
    Expense: ₹40 (lemons)
    How much is the loss (in ₹)?
16. 16.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) nothing (d) a selfie
17. 17.📒 Income or expense: cash from selling plants? (a) income (b) expense
18. 18.Tara’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹20 (ribbon)
    Expense: ₹280 (card paper)
    How much is the loss (in ₹)?
19. 19.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
20. 20.True or false: “printing posters” is income (money in). (a) False (b) True
21. 21.Zoya’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹110 (paper cups)
    Expense: ₹200 (sugar)
    How much is the loss (in ₹)?
22. 22.Kabir’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹130 (card paper)
    Expense: ₹20 (ribbon)
    What is the profit (in ₹)?
23. 23.Lakshmi’s stall took in ₹120 on Friday, ₹220 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
24. 24.Saanvi’s income was ₹410 and the profit was ₹90. One expense was ₹70 (posters). How much was the other expense, for transport (in ₹)?
25. 25.Ananya’s income was ₹180 and the profit was ₹120. One expense was ₹10 (lemons). How much was the other expense, for paper cups (in ₹)?
26. 26.Which of these is income (money in)? (a) printing posters (b) a card order paid (c) buying lemons (d) buying paper cups
27. 27.Which of these is an expense (money out)? (a) cash from selling plants (b) buying paper cups (c) money from sales (d) a card order paid
28. 28.True or false: “paying the stall fee” is income (money in). (a) True (b) False
29. 29.Farhan’s income was ₹300 and the profit was ₹110. One expense was ₹50 (ribbon). How much was the other expense, for paper cups (in ₹)?
30. 30.Dev’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹150 (paper cups)
    Expense: ₹30 (sugar)
    What is the profit (in ₹)?
31. 31.Meera’s stall took in ₹300 on Friday, ₹360 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
32. 32.📒 Income or expense: bus fare to the market? (a) expense (b) income
33. 33.📒 Income or expense: printing posters? (a) income (b) expense
34. 34.Ishaan’s income was ₹200 and the profit was ₹180. One expense was ₹10 (card paper). How much was the other expense, for paper cups (in ₹)?
35. 35.Kavya’s stall took in ₹190 on Friday, ₹400 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
36. 36.True or false: “a card order paid” is income (money in). (a) False (b) True
37. 37.📒 Income or expense: paying the stall fee? (a) income (b) expense
38. 38.📒 Income or expense: buying lemons? (a) expense (b) income
39. 39.📒 Income or expense: payment for a cake order? (a) expense (b) income
40. 40.True or false: “a card order paid” is an expense (money out). (a) True (b) False

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