Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 99 · 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: “buying lemons” is income (money in). (a) True (b) False
2. 2.Kabir’s income was ₹110 and the profit was ₹30. One expense was ₹70 (transport). How much was the other expense, for stall fee (in ₹)?
3. 3.Vihaan’s record for the day:
   Income: ₹300 (morning sales)
   Income: ₹150 (evening sales)
   Expense: ₹70 (card paper)
   Expense: ₹140 (paper cups)
   What is the profit (in ₹)?
4. 4.True or false: “payment for a cake order” is income (money in). (a) False (b) True
5. 5.Aarav’s stall took in ₹310 on Friday, ₹90 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
6. 6.True or false: “money from sales” is an expense (money out). (a) False (b) True
7. 7.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
8. 8.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) tutoring fees received (d) buying lemons
9. 9.📒 Income or expense: tutoring fees received? (a) income (b) expense
10. 10.True or false: “buying paper cups” is income (money in). (a) True (b) False
11. 11.Kabir’s income was ₹270 and the profit was ₹230. One expense was ₹20 (stall fee). How much was the other expense, for card paper (in ₹)?
12. 12.Gurpreet’s income was ₹150 and the profit was ₹40. One expense was ₹30 (lemons). How much was the other expense, for transport (in ₹)?
13. 13.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) the same day (d) never
14. 14.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) buying paper cups (d) payment for a cake order
15. 15.Saanvi’s stall took in ₹230 on Friday, ₹300 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
16. 16.Gurpreet’s income was ₹140 and the profit was ₹70. One expense was ₹30 (posters). How much was the other expense, for stall fee (in ₹)?
17. 17.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) money from sales (d) bus fare to the market
18. 18.Diya’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹40 (stall fee)
    Expense: ₹110 (paper cups)
    How much is the loss (in ₹)?
19. 19.True or false: “paying the stall fee” is income (money in). (a) False (b) True
20. 20.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) the bill or receipt (d) only the bag
21. 21.Vihaan’s stall took in ₹330 on Friday, ₹100 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
22. 22.Aarav’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹60 (transport)
    Expense: ₹20 (stall fee)
    What is the profit (in ₹)?
23. 23.📒 Income or expense: money from sales? (a) expense (b) income
24. 24.Nisha’s stall took in ₹400 on Friday, ₹300 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
25. 25.Which of these is an expense (money out)? (a) printing posters (b) a card order paid (c) cash from selling plants (d) payment for a cake order
26. 26.Diya’s stall took in ₹120 on Friday, ₹190 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
27. 27.Rohan’s stall took in ₹340 on Friday, ₹130 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
28. 28.True or false: “printing posters” is income (money in). (a) True (b) False
29. 29.📒 Income or expense: cash from selling plants? (a) expense (b) income
30. 30.Arjun’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹20 (lemons)
    Expense: ₹90 (sugar)
    What is the profit (in ₹)?
31. 31.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) printing posters (d) money from sales
32. 32.Riya’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹10 (transport)
    Expense: ₹120 (card paper)
    How much is the loss (in ₹)?
33. 33.Farhan’s record for the day:
    Income: ₹370 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹100 (card paper)
    Expense: ₹70 (lemons)
    What is the profit (in ₹)?
34. 34.📒 Income or expense: payment for a cake order? (a) income (b) expense
35. 35.Gurpreet’s stall took in ₹340 on Friday, ₹50 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
36. 36.Meera’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹140 (lemons)
    Expense: ₹10 (card paper)
    How much is the loss (in ₹)?
37. 37.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) to fill a notebook (d) no reason
38. 38.Kabir’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹120 (ribbon)
    Expense: ₹130 (stall fee)
    How much is the loss (in ₹)?
39. 39.Zoya’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹160 (stall fee)
    Expense: ₹140 (paper cups)
    How much is the loss (in ₹)?
40. 40.Ananya’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹110 (sugar)
    Expense: ₹150 (lemons)
    How much is the loss (in ₹)?

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