Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 271 · 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) buying paper cups (b) tutoring fees received (c) bus fare to the market (d) paying the stall fee
2. 2.📒 Income or expense: money from sales? (a) expense (b) income
3. 3.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) money from sales (d) bus fare to the market
4. 4.True or false: “money from sales” is income (money in). (a) True (b) False
5. 5.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) a card order paid (d) bus fare to the market
6. 6.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
7. 7.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to fill a notebook (d) to know the real profit
8. 8.Farhan’s record for the day:
   Income: ₹40 (morning sales)
   Income: ₹220 (evening sales)
   Expense: ₹50 (posters)
   Expense: ₹90 (stall fee)
   What is the profit (in ₹)?
9. 9.Which of these is an expense (money out)? (a) a card order paid (b) buying paper cups (c) tutoring fees received (d) cash from selling plants
10. 10.True or false: “paying the stall fee” is income (money in). (a) True (b) False
11. 11.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
12. 12.Tara’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹130 (sugar)
    Expense: ₹70 (transport)
    How much is the loss (in ₹)?
13. 13.True or false: “a card order paid” is an expense (money out). (a) True (b) False
14. 14.Ishaan’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹30 (paper cups)
    Expense: ₹190 (stall fee)
    What is the profit (in ₹)?
15. 15.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) cash from selling plants (d) buying lemons
16. 16.Kabir’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹10 (stall fee)
    Expense: ₹80 (posters)
    How much is the loss (in ₹)?
17. 17.Joseph’s income was ₹420 and the profit was ₹100. One expense was ₹300 (card paper). How much was the other expense, for transport (in ₹)?
18. 18.Dev’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹80 (ribbon)
    Expense: ₹110 (paper cups)
    What is the profit (in ₹)?
19. 19.Rohan’s income was ₹110 and the profit was ₹20. One expense was ₹20 (sugar). How much was the other expense, for posters (in ₹)?
20. 20.Rohan’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹160 (sugar)
    Expense: ₹20 (transport)
    What is the profit (in ₹)?
21. 21.📅 When is the best time to update your records? (a) once a year (b) the same day (c) whenever you like (d) never
22. 22.Aarav’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹150 (stall fee)
    Expense: ₹70 (card paper)
    What is the profit (in ₹)?
23. 23.Ishaan’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹50 (paper cups)
    Expense: ₹40 (ribbon)
    What is the profit (in ₹)?
24. 24.Kabir’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹110 (ribbon)
    Expense: ₹110 (card paper)
    What is the profit (in ₹)?
25. 25.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) nothing (d) only the bag
26. 26.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
27. 27.Which of these is income (money in)? (a) money from sales (b) printing posters (c) buying paper cups (d) buying lemons
28. 28.True or false: “bus fare to the market” is income (money in). (a) False (b) True
29. 29.Diya’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹170 (stall fee)
    Expense: ₹140 (lemons)
    What is the profit (in ₹)?
30. 30.Vihaan’s stall took in ₹330 on Friday, ₹320 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
31. 31.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
32. 32.Diya’s income was ₹340 and the profit was ₹240. One expense was ₹70 (stall fee). How much was the other expense, for sugar (in ₹)?
33. 33.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
34. 34.Ishaan’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹180 (ribbon)
    Expense: ₹70 (transport)
    What is the profit (in ₹)?
35. 35.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) printing posters (d) a card order paid
36. 36.📒 Income or expense: payment for a cake order? (a) expense (b) income
37. 37.Ananya’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹20 (stall fee)
    Expense: ₹60 (lemons)
    How much is the loss (in ₹)?
38. 38.Kabir’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹160 (ribbon)
    Expense: ₹60 (lemons)
    What is the profit (in ₹)?
39. 39.Farhan’s stall took in ₹210 on Friday, ₹80 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
40. 40.Which of these is an expense (money out)? (a) paying the stall fee (b) money from sales (c) tutoring fees received (d) payment for a cake order

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