Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 195 · 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) True (b) False
2. 2.Aarav’s stall took in ₹300 on Friday, ₹370 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
3. 3.Diya’s record for the day:
   Income: ₹290 (morning sales)
   Income: ₹90 (evening sales)
   Expense: ₹170 (lemons)
   Expense: ₹50 (transport)
   What is the profit (in ₹)?
4. 4.True or false: “paying the stall fee” is income (money in). (a) True (b) False
5. 5.📒 Income or expense: bus fare to the market? (a) expense (b) income
6. 6.Which of these is income (money in)? (a) printing posters (b) payment for a cake order (c) buying lemons (d) paying the stall fee
7. 7.Nisha’s record for a rainy day:
   Income: ₹70 (sales)
   Expense: ₹70 (ribbon)
   Expense: ₹30 (transport)
   How much is the loss (in ₹)?
8. 8.Riya’s stall took in ₹320 on Friday, ₹60 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
9. 9.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) never (d) the same day
10. 10.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
11. 11.True or false: “money from sales” is an expense (money out). (a) False (b) True
12. 12.Vihaan’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹440 (evening sales)
    Expense: ₹150 (transport)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?
13. 13.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
14. 14.➖ Profit in your records = (a) expenses − income (b) just the income (c) income − expenses (d) income + expenses
15. 15.Rohan’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹160 (lemons)
    Expense: ₹130 (ribbon)
    What is the profit (in ₹)?
16. 16.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) buying lemons (d) cash from selling plants
17. 17.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to look busy (d) to fill a notebook
18. 18.Which of these is an expense (money out)? (a) printing posters (b) payment for a cake order (c) cash from selling plants (d) a card order paid
19. 19.Ishaan’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹100 (posters)
    Expense: ₹100 (lemons)
    What is the profit (in ₹)?
20. 20.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) buying lemons (d) cash from selling plants
21. 21.Ananya’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹100 (stall fee)
    Expense: ₹10 (lemons)
    How much is the loss (in ₹)?
22. 22.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) tutoring fees received (d) buying paper cups
23. 23.Which of these is an expense (money out)? (a) paying the stall fee (b) payment for a cake order (c) tutoring fees received (d) money from sales
24. 24.Lakshmi’s stall took in ₹130 on Friday, ₹120 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
25. 25.📒 Income or expense: a card order paid? (a) expense (b) income
26. 26.Ananya’s income was ₹300 and the profit was ₹260. One expense was ₹30 (sugar). How much was the other expense, for posters (in ₹)?
27. 27.Kabir’s stall took in ₹320 on Friday, ₹270 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
28. 28.Riya’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹180 (stall fee)
    Expense: ₹60 (sugar)
    How much is the loss (in ₹)?
29. 29.Tara’s stall took in ₹390 on Friday, ₹230 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
30. 30.True or false: “buying paper cups” is income (money in). (a) False (b) True
31. 31.📒 Income or expense: paying the stall fee? (a) expense (b) income
32. 32.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
33. 33.True or false: “payment for a cake order” is income (money in). (a) True (b) False
34. 34.True or false: “cash from selling plants” is income (money in). (a) False (b) True
35. 35.📒 Income or expense: money from sales? (a) income (b) expense
36. 36.Tara’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹80 (stall fee)
    Expense: ₹170 (posters)
    What is the profit (in ₹)?
37. 37.Saanvi’s income was ₹270 and the profit was ₹10. One expense was ₹50 (lemons). How much was the other expense, for ribbon (in ₹)?
38. 38.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) buying lemons (d) a card order paid
39. 39.📒 Income or expense: cash from selling plants? (a) income (b) expense
40. 40.Ananya’s record for the day:
    Income: ₹420 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹170 (lemons)
    Expense: ₹150 (transport)
    What is the profit (in ₹)?

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