Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 245 · 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.📒 Income or expense: cash from selling plants? (a) income (b) expense
2. 2.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) only the bag (d) nothing
3. 3.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) buying lemons (d) cash from selling plants
4. 4.Meera’s stall took in ₹170 on Friday, ₹340 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
5. 5.True or false: “a card order paid” is an expense (money out). (a) False (b) True
6. 6.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
7. 7.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) no reason (d) to fill a notebook
8. 8.Diya’s record for a rainy day:
   Income: ₹280 (sales)
   Expense: ₹130 (sugar)
   Expense: ₹160 (paper cups)
   How much is the loss (in ₹)?
9. 9.True or false: “money from sales” is income (money in). (a) False (b) True
10. 10.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
11. 11.Which of these is income (money in)? (a) bus fare to the market (b) tutoring fees received (c) printing posters (d) paying the stall fee
12. 12.📒 Income or expense: money from sales? (a) income (b) expense
13. 13.📒 Income or expense: a card order paid? (a) expense (b) income
14. 14.True or false: “cash from selling plants” is income (money in). (a) False (b) True
15. 15.Which of these is an expense (money out)? (a) paying the stall fee (b) payment for a cake order (c) tutoring fees received (d) cash from selling plants
16. 16.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) printing posters (d) tutoring fees received
17. 17.📒 Income or expense: buying lemons? (a) expense (b) income
18. 18.Vihaan’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹180 (transport)
    Expense: ₹190 (posters)
    What is the profit (in ₹)?
19. 19.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
20. 20.Ananya’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹40 (card paper)
    Expense: ₹90 (lemons)
    How much is the loss (in ₹)?
21. 21.True or false: “payment for a cake order” 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.Saanvi’s income was ₹140 and the profit was ₹40. One expense was ₹70 (sugar). How much was the other expense, for lemons (in ₹)?
24. 24.Ananya’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹460 (evening sales)
    Expense: ₹160 (transport)
    Expense: ₹200 (paper cups)
    What is the profit (in ₹)?
25. 25.Vihaan’s stall took in ₹380 on Friday, ₹360 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
26. 26.Dev’s stall took in ₹150 on Friday, ₹330 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
27. 27.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) expenses − income (d) just the income
28. 28.Tara’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹30 (sugar)
    Expense: ₹30 (stall fee)
    What is the profit (in ₹)?
29. 29.Kavya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹490 (evening sales)
    Expense: ₹100 (lemons)
    Expense: ₹190 (sugar)
    What is the profit (in ₹)?
30. 30.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) never (d) once a year
31. 31.True or false: “money from sales” is an expense (money out). (a) True (b) False
32. 32.Lakshmi’s income was ₹460 and the profit was ₹390. One expense was ₹40 (stall fee). How much was the other expense, for paper cups (in ₹)?
33. 33.Aarav’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹40 (ribbon)
    Expense: ₹100 (card paper)
    How much is the loss (in ₹)?
34. 34.📒 Income or expense: bus fare to the market? (a) income (b) expense
35. 35.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) payment for a cake order (d) buying lemons
36. 36.📒 Income or expense: tutoring fees received? (a) income (b) expense
37. 37.Arjun’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹30 (transport)
    Expense: ₹70 (lemons)
    What is the profit (in ₹)?
38. 38.Farhan’s stall took in ₹290 on Friday, ₹250 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
39. 39.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) buying paper cups (d) payment for a cake order
40. 40.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) bus fare to the market (d) cash from selling plants

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