Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 250 · 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: “cash from selling plants” is income (money in). (a) True (b) False
2. 2.➖ Profit in your records = (a) income + expenses (b) just the income (c) expenses − income (d) income − expenses
3. 3.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) to know the real profit (d) no reason
4. 4.Which of these is an expense (money out)? (a) a card order paid (b) buying paper cups (c) cash from selling plants (d) money from sales
5. 5.True or false: “money from sales” is income (money in). (a) True (b) False
6. 6.Arjun’s income was ₹290 and the profit was ₹210. One expense was ₹40 (ribbon). How much was the other expense, for posters (in ₹)?
7. 7.Diya’s record for a rainy day:
   Income: ₹130 (sales)
   Expense: ₹100 (paper cups)
   Expense: ₹80 (sugar)
   How much is the loss (in ₹)?
8. 8.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
9. 9.Diya’s record for a rainy day:
   Income: ₹50 (sales)
   Expense: ₹50 (lemons)
   Expense: ₹20 (transport)
   How much is the loss (in ₹)?
10. 10.Kavya’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹30 (sugar)
    Expense: ₹120 (posters)
    How much is the loss (in ₹)?
11. 11.Joseph’s stall took in ₹170 on Friday, ₹280 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
12. 12.Which of these is an expense (money out)? (a) tutoring fees received (b) buying lemons (c) cash from selling plants (d) money from sales
13. 13.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) only the bag (d) nothing
14. 14.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) bus fare to the market (d) payment for a cake order
15. 15.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) money from sales (d) printing posters
16. 16.📒 Income or expense: bus fare to the market? (a) expense (b) income
17. 17.📒 Income or expense: buying lemons? (a) expense (b) income
18. 18.📒 Income or expense: buying paper cups? (a) expense (b) income
19. 19.📒 Income or expense: payment for a cake order? (a) expense (b) income
20. 20.Rohan’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹50 (transport)
    Expense: ₹60 (ribbon)
    What is the profit (in ₹)?
21. 21.Zoya’s income was ₹130 and the profit was ₹20. One expense was ₹20 (lemons). How much was the other expense, for ribbon (in ₹)?
22. 22.📒 Income or expense: printing posters? (a) income (b) expense
23. 23.Gurpreet’s stall took in ₹100 on Friday, ₹210 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
24. 24.📒 Income or expense: tutoring fees received? (a) income (b) expense
25. 25.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) tutoring fees received (d) bus fare to the market
26. 26.Ananya’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹50 (sugar)
    Expense: ₹110 (posters)
    What is the profit (in ₹)?
27. 27.Joseph’s income was ₹390 and the profit was ₹310. One expense was ₹60 (stall fee). How much was the other expense, for lemons (in ₹)?
28. 28.True or false: “payment for a cake order” is income (money in). (a) True (b) False
29. 29.📅 When is the best time to update your records? (a) the same day (b) never (c) once a year (d) whenever you like
30. 30.Zoya’s stall took in ₹330 on Friday, ₹300 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
31. 31.Which of these is income (money in)? (a) cash from selling plants (b) bus fare to the market (c) paying the stall fee (d) printing posters
32. 32.Dev’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹50 (posters)
    Expense: ₹110 (card paper)
    What is the profit (in ₹)?
33. 33.Aarav’s record for the day:
    Income: ₹410 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹180 (card paper)
    Expense: ₹120 (stall fee)
    What is the profit (in ₹)?
34. 34.Nisha’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹160 (lemons)
    Expense: ₹140 (sugar)
    What is the profit (in ₹)?
35. 35.Diya’s stall took in ₹380 on Friday, ₹150 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
36. 36.Zoya’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹20 (transport)
    Expense: ₹50 (stall fee)
    What is the profit (in ₹)?
37. 37.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
38. 38.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
39. 39.Saanvi’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹190 (stall fee)
    Expense: ₹190 (paper cups)
    How much is the loss (in ₹)?
40. 40.Dev’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹140 (paper cups)
    Expense: ₹90 (stall fee)
    What is the profit (in ₹)?

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