Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 967 · 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: “printing posters” is an expense (money out). (a) True (b) False
2. 2.Nisha’s income was ₹350 and the profit was ₹10. One expense was ₹210 (transport). How much was the other expense, for lemons (in ₹)?
3. 3.➖ Profit in your records = (a) just the income (b) expenses − income (c) income + expenses (d) income − expenses
4. 4.True or false: “buying lemons” is an expense (money out). (a) False (b) True
5. 5.📒 Income or expense: tutoring fees received? (a) expense (b) income
6. 6.Rohan’s record for the day:
   Income: ₹30 (morning sales)
   Income: ₹240 (evening sales)
   Expense: ₹110 (card paper)
   Expense: ₹100 (ribbon)
   What is the profit (in ₹)?
7. 7.Kavya’s record for the day:
   Income: ₹110 (morning sales)
   Income: ₹260 (evening sales)
   Expense: ₹150 (transport)
   Expense: ₹90 (sugar)
   What is the profit (in ₹)?
8. 8.Ishaan’s income was ₹190 and the profit was ₹60. One expense was ₹30 (lemons). How much was the other expense, for posters (in ₹)?
9. 9.📒 Income or expense: buying lemons? (a) income (b) expense
10. 10.📒 Income or expense: paying the stall fee? (a) income (b) expense
11. 11.Joseph’s income was ₹500 and the profit was ₹350. One expense was ₹120 (card paper). How much was the other expense, for ribbon (in ₹)?
12. 12.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) only the bag (d) a selfie
13. 13.Aarav’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹20 (card paper)
    Expense: ₹150 (sugar)
    How much is the loss (in ₹)?
14. 14.Rohan’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹130 (lemons)
    Expense: ₹110 (paper cups)
    How much is the loss (in ₹)?
15. 15.True or false: “buying paper cups” is income (money in). (a) False (b) True
16. 16.Kabir’s income was ₹300 and the profit was ₹260. One expense was ₹30 (sugar). How much was the other expense, for posters (in ₹)?
17. 17.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to look busy (d) to know the real profit
18. 18.True or false: “buying lemons” is income (money in). (a) False (b) True
19. 19.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
20. 20.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) a card order paid (d) bus fare to the market
21. 21.Which of these is income (money in)? (a) buying lemons (b) payment for a cake order (c) paying the stall fee (d) printing posters
22. 22.Aarav’s income was ₹160 and the profit was ₹10. One expense was ₹50 (stall fee). How much was the other expense, for sugar (in ₹)?
23. 23.Riya’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹140 (sugar)
    Expense: ₹190 (stall fee)
    What is the profit (in ₹)?
24. 24.Aarav’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹30 (paper cups)
    Expense: ₹190 (lemons)
    What is the profit (in ₹)?
25. 25.📒 Income or expense: payment for a cake order? (a) income (b) expense
26. 26.Gurpreet’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹180 (transport)
    Expense: ₹70 (posters)
    How much is the loss (in ₹)?
27. 27.Which of these is income (money in)? (a) money from sales (b) printing posters (c) buying paper cups (d) buying lemons
28. 28.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) cash from selling plants (d) buying lemons
29. 29.Zoya’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹110 (ribbon)
    Expense: ₹90 (lemons)
    What is the profit (in ₹)?
30. 30.True or false: “money from sales” is an expense (money out). (a) True (b) False
31. 31.📒 Income or expense: a card order paid? (a) income (b) expense
32. 32.Which of these is income (money in)? (a) printing posters (b) tutoring fees received (c) paying the stall fee (d) buying lemons
33. 33.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
34. 34.Tara’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹20 (card paper)
    Expense: ₹80 (transport)
    What is the profit (in ₹)?
35. 35.Arjun’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹80 (lemons)
    Expense: ₹30 (card paper)
    How much is the loss (in ₹)?
36. 36.Meera’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹190 (ribbon)
    Expense: ₹140 (paper cups)
    What is the profit (in ₹)?
37. 37.📒 Income or expense: money from sales? (a) income (b) expense
38. 38.Meera’s stall took in ₹300 on Friday, ₹340 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
39. 39.Zoya’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹170 (ribbon)
    Expense: ₹90 (card paper)
    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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