Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 306 · 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.➖ Profit in your records = (a) just the income (b) income + expenses (c) income − expenses (d) expenses − income
2. 2.True or false: “buying lemons” is an expense (money out). (a) True (b) False
3. 3.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
4. 4.Nisha’s record for a rainy day:
   Income: ₹90 (sales)
   Expense: ₹90 (transport)
   Expense: ₹100 (paper cups)
   How much is the loss (in ₹)?
5. 5.📒 Income or expense: money from sales? (a) income (b) expense
6. 6.Riya’s record for the day:
   Income: ₹270 (morning sales)
   Income: ₹310 (evening sales)
   Expense: ₹200 (sugar)
   Expense: ₹180 (posters)
   What is the profit (in ₹)?
7. 7.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) printing posters (d) cash from selling plants
8. 8.📒 Income or expense: payment for a cake order? (a) income (b) expense
9. 9.📒 Income or expense: tutoring fees received? (a) expense (b) income
10. 10.Nisha’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹170 (stall fee)
    Expense: ₹150 (card paper)
    How much is the loss (in ₹)?
11. 11.Saanvi’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹170 (lemons)
    Expense: ₹30 (posters)
    What is the profit (in ₹)?
12. 12.Which of these is income (money in)? (a) buying lemons (b) tutoring fees received (c) buying paper cups (d) bus fare to the market
13. 13.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) payment for a cake order (d) bus fare to the market
14. 14.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
15. 15.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
16. 16.Vihaan’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹150 (transport)
    Expense: ₹90 (stall fee)
    How much is the loss (in ₹)?
17. 17.Which of these is an expense (money out)? (a) payment for a cake order (b) paying the stall fee (c) cash from selling plants (d) a card order paid
18. 18.Kavya’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹200 (paper cups)
    Expense: ₹140 (ribbon)
    What is the profit (in ₹)?
19. 19.True or false: “a card order paid” is an expense (money out). (a) False (b) True
20. 20.True or false: “printing posters” is an expense (money out). (a) False (b) True
21. 21.📒 Income or expense: bus fare to the market? (a) expense (b) income
22. 22.Ananya’s stall took in ₹140 on Friday, ₹60 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
23. 23.Joseph’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹170 (lemons)
    Expense: ₹90 (sugar)
    What is the profit (in ₹)?
24. 24.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) buying lemons (d) payment for a cake order
25. 25.📒 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
26. 26.Which of these is an expense (money out)? (a) money from sales (b) printing posters (c) tutoring fees received (d) cash from selling plants
27. 27.True or false: “payment for a cake order” is income (money in). (a) True (b) False
28. 28.Gurpreet’s stall took in ₹380 on Friday, ₹230 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
29. 29.📒 Income or expense: a card order paid? (a) expense (b) income
30. 30.Aarav’s stall took in ₹180 on Friday, ₹380 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
31. 31.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
32. 32.Kabir’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹140 (card paper)
    Expense: ₹110 (transport)
    What is the profit (in ₹)?
33. 33.True or false: “buying lemons” is income (money in). (a) True (b) False
34. 34.Farhan’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹180 (paper cups)
    Expense: ₹120 (transport)
    What is the profit (in ₹)?
35. 35.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) bus fare to the market (d) tutoring fees received
36. 36.📒 Income or expense: buying paper cups? (a) expense (b) income
37. 37.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) only the bag (d) the bill or receipt
38. 38.Arjun’s income was ₹500 and the profit was ₹300. One expense was ₹90 (ribbon). How much was the other expense, for posters (in ₹)?
39. 39.Aarav’s stall took in ₹190 on Friday, ₹190 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
40. 40.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True

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