Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 256 · 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) printing posters (b) buying lemons (c) buying paper cups (d) money from sales
2. 2.True or false: “money from sales” is income (money in). (a) False (b) True
3. 3.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to look busy (d) to know the real profit
4. 4.📒 Income or expense: bus fare to the market? (a) income (b) expense
5. 5.📒 Income or expense: payment for a cake order? (a) expense (b) income
6. 6.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) income − expenses (d) just the income
7. 7.Arjun’s record for a rainy day:
   Income: ₹280 (sales)
   Expense: ₹180 (paper cups)
   Expense: ₹140 (lemons)
   How much is the loss (in ₹)?
8. 8.Arjun’s record for a rainy day:
   Income: ₹60 (sales)
   Expense: ₹60 (ribbon)
   Expense: ₹100 (card paper)
   How much is the loss (in ₹)?
9. 9.True or false: “paying the stall fee” is income (money in). (a) False (b) True
10. 10.Ishaan’s stall took in ₹80 on Friday, ₹260 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
11. 11.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) the bill or receipt (d) only the bag
12. 12.Meera’s stall took in ₹110 on Friday, ₹140 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
13. 13.📒 Income or expense: money from sales? (a) income (b) expense
14. 14.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
15. 15.Meera’s income was ₹140 and the profit was ₹70. One expense was ₹30 (lemons). How much was the other expense, for card paper (in ₹)?
16. 16.📅 When is the best time to update your records? (a) never (b) whenever you like (c) once a year (d) the same day
17. 17.Kavya’s stall took in ₹270 on Friday, ₹200 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
18. 18.True or false: “printing posters” is an expense (money out). (a) True (b) False
19. 19.True or false: “a card order paid” is income (money in). (a) False (b) True
20. 20.📒 Income or expense: a card order paid? (a) expense (b) income
21. 21.Tara’s stall took in ₹240 on Friday, ₹140 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
22. 22.Gurpreet’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹100 (posters)
    Expense: ₹30 (stall fee)
    What is the profit (in ₹)?
23. 23.Lakshmi’s record for the day:
    Income: ₹370 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹70 (stall fee)
    Expense: ₹200 (sugar)
    What is the profit (in ₹)?
24. 24.Ananya’s income was ₹110 and the profit was ₹70. One expense was ₹30 (lemons). How much was the other expense, for sugar (in ₹)?
25. 25.Which of these is income (money in)? (a) printing posters (b) cash from selling plants (c) bus fare to the market (d) buying paper cups
26. 26.True or false: “money from sales” is an expense (money out). (a) True (b) False
27. 27.True or false: “cash from selling plants” is income (money in). (a) False (b) True
28. 28.True or false: “bus fare to the market” is income (money in). (a) False (b) True
29. 29.📒 Income or expense: buying lemons? (a) income (b) expense
30. 30.Tara’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹150 (posters)
    Expense: ₹60 (stall fee)
    How much is the loss (in ₹)?
31. 31.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) paying the stall fee (d) money from sales
32. 32.Joseph’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹80 (ribbon)
    Expense: ₹20 (card paper)
    What is the profit (in ₹)?
33. 33.Vihaan’s stall took in ₹190 on Friday, ₹120 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
34. 34.📒 Income or expense: printing posters? (a) expense (b) income
35. 35.Lakshmi’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹90 (posters)
    What is the profit (in ₹)?
36. 36.📒 Income or expense: buying paper cups? (a) expense (b) income
37. 37.Kavya’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹180 (ribbon)
    Expense: ₹50 (posters)
    What is the profit (in ₹)?
38. 38.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
39. 39.True or false: “tutoring fees received” is income (money in). (a) False (b) True
40. 40.Joseph’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹420 (evening sales)
    Expense: ₹170 (paper cups)
    Expense: ₹110 (lemons)
    What is the profit (in ₹)?

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