Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 282 · 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.📅 When is the best time to update your records? (a) never (b) whenever you like (c) the same day (d) once a year
3. 3.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) a card order paid (d) paying the stall fee
4. 4.Which of these is income (money in)? (a) tutoring fees received (b) bus fare to the market (c) paying the stall fee (d) buying lemons
5. 5.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to know the real profit (d) to look busy
6. 6.Which of these is an expense (money out)? (a) buying lemons (b) payment for a cake order (c) tutoring fees received (d) a card order paid
7. 7.📒 Income or expense: a card order paid? (a) expense (b) income
8. 8.Aarav’s record for a rainy day:
   Income: ₹60 (sales)
   Expense: ₹40 (posters)
   Expense: ₹80 (card paper)
   How much is the loss (in ₹)?
9. 9.Gurpreet’s stall took in ₹100 on Friday, ₹260 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
10. 10.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) income − expenses (d) just the income
11. 11.📒 Income or expense: cash from selling plants? (a) expense (b) income
12. 12.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
13. 13.Aarav’s stall took in ₹140 on Friday, ₹130 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
14. 14.Vihaan’s record for the day:
    Income: ₹380 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹160 (lemons)
    Expense: ₹40 (posters)
    What is the profit (in ₹)?
15. 15.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) buying paper cups (d) payment for a cake order
16. 16.📒 Income or expense: printing posters? (a) income (b) expense
17. 17.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) paying the stall fee (d) money from sales
18. 18.Nisha’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹50 (ribbon)
    Expense: ₹60 (stall fee)
    How much is the loss (in ₹)?
19. 19.Zoya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹80 (ribbon)
    Expense: ₹40 (card paper)
    What is the profit (in ₹)?
20. 20.Diya’s income was ₹360 and the profit was ₹190. One expense was ₹120 (lemons). How much was the other expense, for card paper (in ₹)?
21. 21.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) tutoring fees received (d) bus fare to the market
22. 22.📒 Income or expense: buying lemons? (a) expense (b) income
23. 23.Rohan’s stall took in ₹370 on Friday, ₹70 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
24. 24.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
25. 25.Farhan’s income was ₹140 and the profit was ₹10. One expense was ₹110 (card paper). How much was the other expense, for stall fee (in ₹)?
26. 26.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) a card order paid (d) buying lemons
27. 27.Saanvi’s record for the day:
    Income: ₹500 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹190 (ribbon)
    Expense: ₹140 (posters)
    What is the profit (in ₹)?
28. 28.True or false: “tutoring fees received” is income (money in). (a) True (b) False
29. 29.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) the bill or receipt (d) only the bag
30. 30.True or false: “bus fare to the market” is income (money in). (a) True (b) False
31. 31.Ishaan’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹20 (ribbon)
    Expense: ₹30 (stall fee)
    What is the profit (in ₹)?
32. 32.Dev’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹120 (card paper)
    What is the profit (in ₹)?
33. 33.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
34. 34.Ishaan’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹50 (sugar)
    Expense: ₹140 (card paper)
    How much is the loss (in ₹)?
35. 35.📒 Income or expense: tutoring fees received? (a) expense (b) income
36. 36.Rohan’s stall took in ₹320 on Friday, ₹210 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
37. 37.Tara’s income was ₹400 and the profit was ₹250. One expense was ₹60 (card paper). How much was the other expense, for ribbon (in ₹)?
38. 38.📒 Income or expense: paying the stall fee? (a) income (b) expense
39. 39.Meera’s income was ₹280 and the profit was ₹160. One expense was ₹60 (posters). How much was the other expense, for lemons (in ₹)?
40. 40.Gurpreet’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹100 (transport)
    Expense: ₹50 (ribbon)
    What is the profit (in ₹)?

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