Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 954 · 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.Meera’s income was ₹130 and the profit was ₹100. One expense was ₹20 (paper cups). How much was the other expense, for transport (in ₹)?
2. 2.Arjun’s income was ₹300 and the profit was ₹50. One expense was ₹10 (transport). How much was the other expense, for ribbon (in ₹)?
3. 3.📒 Income or expense: paying the stall fee? (a) expense (b) income
4. 4.True or false: “money from sales” is income (money in). (a) False (b) True
5. 5.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) a card order paid (d) paying the stall fee
6. 6.Riya’s stall took in ₹170 on Friday, ₹200 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
7. 7.True or false: “a card order paid” is income (money in). (a) True (b) False
8. 8.📒 Income or expense: money from sales? (a) income (b) expense
9. 9.Which of these is income (money in)? (a) tutoring fees received (b) printing posters (c) buying paper cups (d) bus fare to the market
10. 10.Saanvi’s stall took in ₹240 on Friday, ₹210 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
11. 11.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) once a year (d) never
12. 12.Which of these is income (money in)? (a) bus fare to the market (b) money from sales (c) printing posters (d) paying the stall fee
13. 13.True or false: “printing posters” is income (money in). (a) False (b) True
14. 14.📒 Income or expense: bus fare to the market? (a) expense (b) income
15. 15.True or false: “tutoring fees received” is income (money in). (a) False (b) True
16. 16.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
17. 17.Ananya’s stall took in ₹160 on Friday, ₹400 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
18. 18.Joseph’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹90 (transport)
    Expense: ₹110 (ribbon)
    How much is the loss (in ₹)?
19. 19.Lakshmi’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹90 (paper cups)
    Expense: ₹30 (card paper)
    How much is the loss (in ₹)?
20. 20.True or false: “money from sales” is an expense (money out). (a) True (b) False
21. 21.Rohan’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹230 (paper cups)
    Expense: ₹100 (sugar)
    How much is the loss (in ₹)?
22. 22.Which of these is income (money in)? (a) cash from selling plants (b) buying lemons (c) paying the stall fee (d) bus fare to the market
23. 23.📒 Income or expense: buying paper cups? (a) expense (b) income
24. 24.Lakshmi’s income was ₹330 and the profit was ₹300. One expense was ₹20 (sugar). How much was the other expense, for ribbon (in ₹)?
25. 25.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
26. 26.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) only the bag (d) the bill or receipt
27. 27.Ananya’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹50 (lemons)
    Expense: ₹260 (transport)
    How much is the loss (in ₹)?
28. 28.📒 Income or expense: cash from selling plants? (a) income (b) expense
29. 29.Vihaan’s income was ₹330 and the profit was ₹250. One expense was ₹30 (card paper). How much was the other expense, for paper cups (in ₹)?
30. 30.Diya’s income was ₹380 and the profit was ₹290. One expense was ₹30 (stall fee). How much was the other expense, for transport (in ₹)?
31. 31.📒 Income or expense: a card order paid? (a) expense (b) income
32. 32.True or false: “paying the stall fee” is income (money in). (a) True (b) False
33. 33.Meera’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹130 (stall fee)
    Expense: ₹130 (lemons)
    What is the profit (in ₹)?
34. 34.📒 Income or expense: tutoring fees received? (a) income (b) expense
35. 35.📒 Income or expense: buying lemons? (a) expense (b) income
36. 36.📒 Income or expense: payment for a cake order? (a) income (b) expense
37. 37.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) no reason (d) to know the real profit
38. 38.True or false: “buying lemons” is income (money in). (a) True (b) False
39. 39.True or false: “printing posters” is an expense (money out). (a) True (b) False
40. 40.Lakshmi’s record for the day:
    Income: ₹370 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹150 (stall fee)
    Expense: ₹130 (lemons)
    What is the profit (in ₹)?

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