Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 202 · 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.Which of these is income (money in)? (a) buying paper cups (b) tutoring fees received (c) printing posters (d) paying the stall fee
2. 2.Which of these is an expense (money out)? (a) money from sales (b) printing posters (c) payment for a cake order (d) cash from selling plants
3. 3.Ananya’s record for a rainy day:
   Income: ₹120 (sales)
   Expense: ₹70 (card paper)
   Expense: ₹90 (lemons)
   How much is the loss (in ₹)?
4. 4.True or false: “buying paper cups” is income (money in). (a) False (b) True
5. 5.Which of these is an expense (money out)? (a) paying the stall fee (b) money from sales (c) tutoring fees received (d) payment for a cake order
6. 6.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
7. 7.📒 Income or expense: paying the stall fee? (a) income (b) expense
8. 8.Dev’s record for a rainy day:
   Income: ₹110 (sales)
   Expense: ₹160 (stall fee)
   Expense: ₹10 (lemons)
   How much is the loss (in ₹)?
9. 9.Kabir’s income was ₹200 and the profit was ₹160. One expense was ₹10 (paper cups). How much was the other expense, for card paper (in ₹)?
10. 10.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) printing posters (d) a card order paid
11. 11.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) the same day (d) never
12. 12.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) only the bag (d) nothing
13. 13.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
14. 14.Ananya’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹250 (paper cups)
    Expense: ₹60 (posters)
    How much is the loss (in ₹)?
15. 15.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) paying the stall fee (d) cash from selling plants
16. 16.True or false: “a card order paid” is an expense (money out). (a) True (b) False
17. 17.📒 Income or expense: buying paper cups? (a) income (b) expense
18. 18.True or false: “buying lemons” is an expense (money out). (a) True (b) False
19. 19.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
20. 20.Zoya’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹90 (sugar)
    Expense: ₹80 (transport)
    How much is the loss (in ₹)?
21. 21.📒 Income or expense: printing posters? (a) income (b) expense
22. 22.Which of these is income (money in)? (a) money from sales (b) printing posters (c) buying lemons (d) buying paper cups
23. 23.True or false: “a card order paid” is income (money in). (a) True (b) False
24. 24.➖ Profit in your records = (a) just the income (b) income − expenses (c) income + expenses (d) expenses − income
25. 25.Lakshmi’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹90 (ribbon)
    Expense: ₹50 (transport)
    How much is the loss (in ₹)?
26. 26.Joseph’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹80 (stall fee)
    Expense: ₹110 (ribbon)
    How much is the loss (in ₹)?
27. 27.Aarav’s stall took in ₹110 on Friday, ₹340 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
28. 28.Zoya’s stall took in ₹270 on Friday, ₹240 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
29. 29.📒 Income or expense: a card order paid? (a) expense (b) income
30. 30.Rohan’s stall took in ₹150 on Friday, ₹300 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
31. 31.Tara’s stall took in ₹80 on Friday, ₹190 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
32. 32.Dev’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹70 (posters)
    Expense: ₹200 (lemons)
    How much is the loss (in ₹)?
33. 33.Saanvi’s stall took in ₹70 on Friday, ₹50 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
34. 34.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) no reason (d) to look busy
35. 35.Vihaan’s stall took in ₹140 on Friday, ₹380 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
36. 36.📒 Income or expense: cash from selling plants? (a) expense (b) income
37. 37.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
38. 38.Riya’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹40 (stall fee)
    Expense: ₹50 (sugar)
    What is the profit (in ₹)?
39. 39.📒 Income or expense: tutoring fees received? (a) income (b) expense
40. 40.Which of these is income (money in)? (a) buying lemons (b) payment for a cake order (c) paying the stall fee (d) printing posters

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