Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 106 · 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: paying the stall fee? (a) income (b) expense
2. 2.📒 Income or expense: payment for a cake order? (a) income (b) expense
3. 3.Which of these is an expense (money out)? (a) buying paper cups (b) cash from selling plants (c) tutoring fees received (d) money from sales
4. 4.Farhan’s record for the day:
   Income: ₹320 (morning sales)
   Income: ₹220 (evening sales)
   Expense: ₹120 (sugar)
   Expense: ₹150 (ribbon)
   What is the profit (in ₹)?
5. 5.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
6. 6.Kavya’s record for the day:
   Income: ₹140 (morning sales)
   Income: ₹80 (evening sales)
   Expense: ₹50 (posters)
   Expense: ₹20 (sugar)
   What is the profit (in ₹)?
7. 7.True or false: “a card order paid” is an expense (money out). (a) True (b) False
8. 8.📒 Income or expense: tutoring fees received? (a) expense (b) income
9. 9.True or false: “money from sales” is income (money in). (a) False (b) True
10. 10.Ishaan’s income was ₹390 and the profit was ₹240. One expense was ₹70 (transport). How much was the other expense, for sugar (in ₹)?
11. 11.Aarav’s stall took in ₹140 on Friday, ₹110 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
12. 12.Aarav’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹20 (ribbon)
    Expense: ₹140 (paper cups)
    What is the profit (in ₹)?
13. 13.Ananya’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹80 (lemons)
    Expense: ₹190 (ribbon)
    What is the profit (in ₹)?
14. 14.📒 Income or expense: cash from selling plants? (a) income (b) expense
15. 15.Which of these is income (money in)? (a) buying lemons (b) cash from selling plants (c) paying the stall fee (d) printing posters
16. 16.Kabir’s income was ₹210 and the profit was ₹140. One expense was ₹30 (lemons). How much was the other expense, for stall fee (in ₹)?
17. 17.True or false: “a card order paid” is income (money in). (a) False (b) True
18. 18.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) the bill or receipt (d) only the bag
19. 19.📒 Income or expense: money from sales? (a) expense (b) income
20. 20.Nisha’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹160 (posters)
    Expense: ₹50 (lemons)
    What is the profit (in ₹)?
21. 21.Lakshmi’s stall took in ₹350 on Friday, ₹400 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
22. 22.Which of these is an expense (money out)? (a) money from sales (b) printing posters (c) a card order paid (d) payment for a cake order
23. 23.📒 Income or expense: bus fare to the market? (a) income (b) expense
24. 24.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
25. 25.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) just the income (d) income − expenses
26. 26.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) paying the stall fee (d) money from sales
27. 27.Ishaan’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹30 (lemons)
    Expense: ₹180 (paper cups)
    How much is the loss (in ₹)?
28. 28.Zoya’s stall took in ₹90 on Friday, ₹350 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
29. 29.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) never (d) once a year
30. 30.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to fill a notebook (d) to know the real profit
31. 31.Which of these is income (money in)? (a) a card order paid (b) printing posters (c) buying lemons (d) paying the stall fee
32. 32.Kabir’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹110 (paper cups)
    Expense: ₹20 (sugar)
    What is the profit (in ₹)?
33. 33.Kavya’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹120 (stall fee)
    Expense: ₹40 (card paper)
    What is the profit (in ₹)?
34. 34.Joseph’s stall took in ₹220 on Friday, ₹310 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
35. 35.True or false: “money from sales” is an expense (money out). (a) False (b) True
36. 36.True or false: “bus fare to the market” is income (money in). (a) True (b) False
37. 37.Nisha’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹60 (transport)
    Expense: ₹180 (posters)
    What is the profit (in ₹)?
38. 38.Vihaan’s stall took in ₹190 on Friday, ₹170 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
39. 39.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
40. 40.Which of these is income (money in)? (a) payment for a cake order (b) bus fare to the market (c) paying the stall fee (d) printing posters

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