Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 259 · 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 an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) buying lemons (d) a card order paid
2. 2.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) buying paper cups (d) tutoring fees received
3. 3.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) only the bag (d) nothing
4. 4.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) to know the real profit (d) no reason
5. 5.Which of these is income (money in)? (a) buying paper cups (b) a card order paid (c) buying lemons (d) printing posters
6. 6.Nisha’s record for the day:
   Income: ₹160 (morning sales)
   Income: ₹240 (evening sales)
   Expense: ₹140 (posters)
   Expense: ₹30 (sugar)
   What is the profit (in ₹)?
7. 7.True or false: “buying lemons” is an expense (money out). (a) False (b) True
8. 8.📒 Income or expense: a card order paid? (a) income (b) expense
9. 9.True or false: “tutoring fees received” is income (money in). (a) False (b) True
10. 10.Which of these is income (money in)? (a) payment for a cake order (b) bus fare to the market (c) buying lemons (d) paying the stall fee
11. 11.📒 Income or expense: tutoring fees received? (a) income (b) expense
12. 12.📒 Income or expense: buying paper cups? (a) expense (b) income
13. 13.Saanvi’s stall took in ₹60 on Friday, ₹400 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
14. 14.Zoya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹30 (lemons)
    Expense: ₹20 (sugar)
    What is the profit (in ₹)?
15. 15.Tara’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹130 (sugar)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
16. 16.True or false: “payment for a cake order” is income (money in). (a) False (b) True
17. 17.Gurpreet’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹70 (transport)
    Expense: ₹130 (sugar)
    How much is the loss (in ₹)?
18. 18.Rohan’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹130 (ribbon)
    Expense: ₹140 (paper cups)
    What is the profit (in ₹)?
19. 19.Ananya’s stall took in ₹110 on Friday, ₹300 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
20. 20.True or false: “a card order paid” is an expense (money out). (a) False (b) True
21. 21.Kabir’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹10 (posters)
    Expense: ₹210 (sugar)
    How much is the loss (in ₹)?
22. 22.True or false: “paying the stall fee” is income (money in). (a) False (b) True
23. 23.True or false: “buying paper cups” is income (money in). (a) False (b) True
24. 24.➖ Profit in your records = (a) income − expenses (b) income + expenses (c) expenses − income (d) just the income
25. 25.📅 When is the best time to update your records? (a) once a year (b) the same day (c) whenever you like (d) never
26. 26.Riya’s stall took in ₹310 on Friday, ₹340 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
27. 27.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
28. 28.Dev’s stall took in ₹320 on Friday, ₹280 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
29. 29.Kabir’s record for the day:
    Income: ₹480 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹150 (paper cups)
    Expense: ₹200 (card paper)
    What is the profit (in ₹)?
30. 30.Kabir’s income was ₹270 and the profit was ₹120. One expense was ₹100 (stall fee). How much was the other expense, for card paper (in ₹)?
31. 31.Tara’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹70 (posters)
    Expense: ₹130 (stall fee)
    How much is the loss (in ₹)?
32. 32.Which of these is an expense (money out)? (a) paying the stall fee (b) money from sales (c) cash from selling plants (d) tutoring fees received
33. 33.Tara’s stall took in ₹280 on Friday, ₹290 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
34. 34.Aarav’s stall took in ₹190 on Friday, ₹150 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
35. 35.📒 Income or expense: paying the stall fee? (a) expense (b) income
36. 36.📒 Income or expense: bus fare to the market? (a) income (b) expense
37. 37.True or false: “a card order paid” is income (money in). (a) False (b) True
38. 38.Tara’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹10 (posters)
    Expense: ₹250 (stall fee)
    How much is the loss (in ₹)?
39. 39.📒 Income or expense: printing posters? (a) expense (b) income
40. 40.True or false: “cash from selling plants” is income (money in). (a) False (b) True

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