Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 156 · 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: “paying the stall fee” is an expense (money out). (a) False (b) True
2. 2.Dev’s income was ₹160 and the profit was ₹100. One expense was ₹10 (paper cups). How much was the other expense, for posters (in ₹)?
3. 3.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
4. 4.Riya’s income was ₹460 and the profit was ₹250. One expense was ₹10 (lemons). How much was the other expense, for sugar (in ₹)?
5. 5.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
6. 6.Gurpreet’s income was ₹480 and the profit was ₹420. One expense was ₹20 (paper cups). How much was the other expense, for transport (in ₹)?
7. 7.➖ Profit in your records = (a) income − expenses (b) just the income (c) expenses − income (d) income + expenses
8. 8.Ananya’s record for a rainy day:
   Income: ₹150 (sales)
   Expense: ₹120 (sugar)
   Expense: ₹60 (card paper)
   How much is the loss (in ₹)?
9. 9.Kabir’s stall took in ₹360 on Friday, ₹290 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
10. 10.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
11. 11.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) once a year (d) never
12. 12.📒 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
13. 13.Arjun’s stall took in ₹50 on Friday, ₹70 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
14. 14.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) nothing (d) a selfie
15. 15.📒 Income or expense: printing posters? (a) expense (b) income
16. 16.Which of these is an expense (money out)? (a) paying the stall fee (b) money from sales (c) payment for a cake order (d) cash from selling plants
17. 17.Which of these is income (money in)? (a) money from sales (b) buying lemons (c) paying the stall fee (d) bus fare to the market
18. 18.📒 Income or expense: cash from selling plants? (a) expense (b) income
19. 19.Diya’s income was ₹490 and the profit was ₹90. One expense was ₹370 (paper cups). How much was the other expense, for posters (in ₹)?
20. 20.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) money from sales (d) buying paper cups
21. 21.True or false: “bus fare to the market” is income (money in). (a) True (b) False
22. 22.True or false: “printing posters” is income (money in). (a) True (b) False
23. 23.Which of these is income (money in)? (a) cash from selling plants (b) buying lemons (c) bus fare to the market (d) paying the stall fee
24. 24.Lakshmi’s stall took in ₹240 on Friday, ₹180 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
25. 25.Aarav’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹80 (paper cups)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
26. 26.📒 Income or expense: money from sales? (a) income (b) expense
27. 27.📒 Income or expense: payment for a cake order? (a) expense (b) income
28. 28.Which of these is an expense (money out)? (a) tutoring fees received (b) buying lemons (c) money from sales (d) a card order paid
29. 29.True or false: “a card order paid” is an expense (money out). (a) True (b) False
30. 30.True or false: “printing posters” is an expense (money out). (a) False (b) True
31. 31.Vihaan’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹360 (paper cups)
    Expense: ₹10 (lemons)
    How much is the loss (in ₹)?
32. 32.Saanvi’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹80 (transport)
    Expense: ₹200 (stall fee)
    How much is the loss (in ₹)?
33. 33.Nisha’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹480 (evening sales)
    Expense: ₹130 (paper cups)
    Expense: ₹180 (transport)
    What is the profit (in ₹)?
34. 34.📒 Income or expense: paying the stall fee? (a) expense (b) income
35. 35.Rohan’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹100 (paper cups)
    Expense: ₹100 (sugar)
    How much is the loss (in ₹)?
36. 36.True or false: “payment for a cake order” is income (money in). (a) False (b) True
37. 37.Diya’s income was ₹330 and the profit was ₹200. One expense was ₹30 (lemons). How much was the other expense, for stall fee (in ₹)?
38. 38.True or false: “a card order paid” is income (money in). (a) False (b) True
39. 39.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) bus fare to the market (d) cash from selling plants
40. 40.Kabir’s stall took in ₹90 on Friday, ₹180 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?

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