Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 962 · 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) expense (b) income
2. 2.Nisha’s income was ₹500 and the profit was ₹410. One expense was ₹60 (sugar). How much was the other expense, for posters (in ₹)?
3. 3.📒 Income or expense: tutoring fees received? (a) income (b) expense
4. 4.Which of these is income (money in)? (a) printing posters (b) payment for a cake order (c) buying paper cups (d) buying lemons
5. 5.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) a card order paid (d) paying the stall fee
6. 6.📒 Income or expense: buying lemons? (a) income (b) expense
7. 7.Diya’s record for the day:
   Income: ₹120 (morning sales)
   Income: ₹120 (evening sales)
   Expense: ₹80 (card paper)
   Expense: ₹140 (sugar)
   What is the profit (in ₹)?
8. 8.Vihaan’s record for a rainy day:
   Income: ₹70 (sales)
   Expense: ₹40 (transport)
   Expense: ₹70 (sugar)
   How much is the loss (in ₹)?
9. 9.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to know the real profit (d) to fill a notebook
10. 10.True or false: “money from sales” is an expense (money out). (a) True (b) False
11. 11.True or false: “paying the stall fee” is income (money in). (a) False (b) True
12. 12.True or false: “a card order paid” is an expense (money out). (a) False (b) True
13. 13.Rohan’s income was ₹450 and the profit was ₹20. One expense was ₹60 (transport). How much was the other expense, for lemons (in ₹)?
14. 14.Joseph’s income was ₹430 and the profit was ₹40. One expense was ₹110 (card paper). How much was the other expense, for stall fee (in ₹)?
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) buying lemons (c) payment for a cake order (d) a card order paid
17. 17.📒 Income or expense: a card order paid? (a) income (b) expense
18. 18.Ishaan’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹180 (paper cups)
    Expense: ₹70 (card paper)
    What is the profit (in ₹)?
19. 19.📒 Income or expense: printing posters? (a) income (b) expense
20. 20.Riya’s stall took in ₹50 on Friday, ₹280 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
21. 21.Gurpreet’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹10 (paper cups)
    Expense: ₹250 (posters)
    How much is the loss (in ₹)?
22. 22.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) cash from selling plants (d) printing posters
23. 23.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) nothing (d) only the bag
24. 24.Kabir’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹180 (sugar)
    Expense: ₹80 (stall fee)
    What is the profit (in ₹)?
25. 25.Which of these is income (money in)? (a) bus fare to the market (b) cash from selling plants (c) paying the stall fee (d) printing posters
26. 26.Ananya’s stall took in ₹130 on Friday, ₹250 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
27. 27.Kavya’s stall took in ₹80 on Friday, ₹130 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
28. 28.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) income − expenses (d) just the income
29. 29.Joseph’s income was ₹200 and the profit was ₹30. One expense was ₹120 (paper cups). How much was the other expense, for stall fee (in ₹)?
30. 30.Rohan’s income was ₹150 and the profit was ₹20. One expense was ₹100 (posters). How much was the other expense, for stall fee (in ₹)?
31. 31.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) tutoring fees received (d) printing posters
32. 32.True or false: “printing posters” is income (money in). (a) True (b) False
33. 33.Which of these is income (money in)? (a) bus fare to the market (b) money from sales (c) paying the stall fee (d) buying lemons
34. 34.Lakshmi’s income was ₹180 and the profit was ₹20. One expense was ₹110 (lemons). How much was the other expense, for stall fee (in ₹)?
35. 35.Ishaan’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹110 (ribbon)
    Expense: ₹110 (sugar)
    How much is the loss (in ₹)?
36. 36.True or false: “printing posters” is an expense (money out). (a) True (b) False
37. 37.True or false: “buying paper cups” is income (money in). (a) False (b) True
38. 38.Kavya’s stall took in ₹280 on Friday, ₹390 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
39. 39.True or false: “a card order paid” is income (money in). (a) True (b) False
40. 40.True or false: “cash from selling plants” is income (money in). (a) False (b) True

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