Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 109 · 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: “bus fare to the market” is income (money in). (a) False (b) True
2. 2.Diya’s record for the day:
   Income: ₹120 (morning sales)
   Income: ₹170 (evening sales)
   Expense: ₹50 (paper cups)
   Expense: ₹20 (sugar)
   What is the profit (in ₹)?
3. 3.📒 Income or expense: a card order paid? (a) income (b) expense
4. 4.Arjun’s record for a rainy day:
   Income: ₹200 (sales)
   Expense: ₹130 (stall fee)
   Expense: ₹100 (lemons)
   How much is the loss (in ₹)?
5. 5.📅 When is the best time to update your records? (a) once a year (b) never (c) the same day (d) whenever you like
6. 6.Arjun’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹10 (stall fee)
   Expense: ₹120 (sugar)
   How much is the loss (in ₹)?
7. 7.Lakshmi’s stall took in ₹270 on Friday, ₹380 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
8. 8.True or false: “money from sales” is income (money in). (a) False (b) True
9. 9.Which of these is income (money in)? (a) buying lemons (b) a card order paid (c) printing posters (d) paying the stall fee
10. 10.True or false: “a card order paid” is an expense (money out). (a) False (b) True
11. 11.➖ Profit in your records = (a) income + expenses (b) just the income (c) expenses − income (d) income − expenses
12. 12.Zoya’s income was ₹140 and the profit was ₹40. One expense was ₹70 (lemons). How much was the other expense, for stall fee (in ₹)?
13. 13.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
14. 14.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) buying paper cups (d) a card order paid
15. 15.📒 Income or expense: paying the stall fee? (a) income (b) expense
16. 16.📒 Income or expense: cash from selling plants? (a) expense (b) income
17. 17.Gurpreet’s income was ₹440 and the profit was ₹140. One expense was ₹30 (posters). How much was the other expense, for card paper (in ₹)?
18. 18.📒 Income or expense: buying paper cups? (a) expense (b) income
19. 19.Ananya’s income was ₹180 and the profit was ₹160. One expense was ₹10 (posters). How much was the other expense, for lemons (in ₹)?
20. 20.Ishaan’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹150 (card paper)
    Expense: ₹40 (lemons)
    What is the profit (in ₹)?
21. 21.📒 Income or expense: money from sales? (a) income (b) expense
22. 22.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) the bill or receipt (d) a selfie
23. 23.Aarav’s income was ₹180 and the profit was ₹40. One expense was ₹40 (paper cups). How much was the other expense, for posters (in ₹)?
24. 24.📒 Income or expense: printing posters? (a) expense (b) income
25. 25.Which of these is an expense (money out)? (a) cash from selling plants (b) printing posters (c) tutoring fees received (d) money from sales
26. 26.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) tutoring fees received (d) printing posters
27. 27.True or false: “printing posters” is an expense (money out). (a) False (b) True
28. 28.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) printing posters (d) payment for a cake order
29. 29.📒 Income or expense: bus fare to the market? (a) expense (b) income
30. 30.Diya’s stall took in ₹290 on Friday, ₹370 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
31. 31.Ananya’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹30 (lemons)
    Expense: ₹230 (ribbon)
    How much is the loss (in ₹)?
32. 32.Meera’s stall took in ₹390 on Friday, ₹170 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
33. 33.📒 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
34. 34.Riya’s income was ₹170 and the profit was ₹60. One expense was ₹40 (stall fee). How much was the other expense, for sugar (in ₹)?
35. 35.Joseph’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹110 (card paper)
    Expense: ₹220 (paper cups)
    How much is the loss (in ₹)?
36. 36.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) money from sales (d) paying the stall fee
37. 37.Kavya’s stall took in ₹350 on Friday, ₹330 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
38. 38.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
39. 39.Joseph’s income was ₹350 and the profit was ₹270. One expense was ₹60 (lemons). How much was the other expense, for stall fee (in ₹)?
40. 40.📒 Income or expense: payment for a cake order? (a) income (b) expense

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