Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 234 · 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) paying the stall fee (b) cash from selling plants (c) buying paper cups (d) printing posters
2. 2.True or false: “cash from selling plants” is income (money in). (a) False (b) True
3. 3.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) paying the stall fee (d) money from sales
4. 4.📒 Income or expense: printing posters? (a) expense (b) income
5. 5.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
6. 6.📒 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
7. 7.Ananya’s record for the day:
   Income: ₹60 (morning sales)
   Income: ₹220 (evening sales)
   Expense: ₹20 (stall fee)
   Expense: ₹80 (paper cups)
   What is the profit (in ₹)?
8. 8.True or false: “bus fare to the market” is income (money in). (a) True (b) False
9. 9.Nisha’s stall took in ₹220 on Friday, ₹60 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
10. 10.True or false: “payment for a cake order” is income (money in). (a) False (b) True
11. 11.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
12. 12.📒 Income or expense: tutoring fees received? (a) expense (b) income
13. 13.📅 When is the best time to update your records? (a) once a year (b) the same day (c) whenever you like (d) never
14. 14.Gurpreet’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹30 (sugar)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
15. 15.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) a selfie (d) the bill or receipt
16. 16.Kabir’s income was ₹160 and the profit was ₹80. One expense was ₹50 (lemons). How much was the other expense, for posters (in ₹)?
17. 17.Zoya’s income was ₹260 and the profit was ₹160. One expense was ₹20 (ribbon). How much was the other expense, for lemons (in ₹)?
18. 18.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) printing posters (d) money from sales
19. 19.Joseph’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹190 (sugar)
    Expense: ₹180 (ribbon)
    What is the profit (in ₹)?
20. 20.Arjun’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹270 (paper cups)
    Expense: ₹20 (stall fee)
    How much is the loss (in ₹)?
21. 21.Kabir’s stall took in ₹240 on Friday, ₹150 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
22. 22.Saanvi’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹30 (posters)
    Expense: ₹100 (paper cups)
    What is the profit (in ₹)?
23. 23.📒 Income or expense: buying lemons? (a) income (b) expense
24. 24.True or false: “buying lemons” is income (money in). (a) True (b) False
25. 25.Kabir’s income was ₹190 and the profit was ₹90. One expense was ₹70 (ribbon). How much was the other expense, for lemons (in ₹)?
26. 26.📒 Income or expense: paying the stall fee? (a) expense (b) income
27. 27.Nisha’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹70 (stall fee)
    Expense: ₹30 (lemons)
    What is the profit (in ₹)?
28. 28.True or false: “buying paper cups” is income (money in). (a) False (b) True
29. 29.Farhan’s income was ₹110 and the profit was ₹90. One expense was ₹10 (card paper). How much was the other expense, for posters (in ₹)?
30. 30.📒 Income or expense: a card order paid? (a) expense (b) income
31. 31.Aarav’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹160 (transport)
    Expense: ₹120 (paper cups)
    How much is the loss (in ₹)?
32. 32.Tara’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹80 (card paper)
    Expense: ₹60 (transport)
    How much is the loss (in ₹)?
33. 33.Saanvi’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹280 (sugar)
    Expense: ₹70 (lemons)
    How much is the loss (in ₹)?
34. 34.📒 Income or expense: bus fare to the market? (a) income (b) expense
35. 35.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
36. 36.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) paying the stall fee (d) payment for a cake order
37. 37.Kabir’s income was ₹300 and the profit was ₹180. One expense was ₹60 (transport). How much was the other expense, for sugar (in ₹)?
38. 38.Diya’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹150 (card paper)
    Expense: ₹130 (transport)
    What is the profit (in ₹)?
39. 39.True or false: “tutoring fees received” is income (money in). (a) False (b) True
40. 40.📒 Income or expense: cash from selling plants? (a) expense (b) income

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