Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 310 · 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.📒 Income or expense: a card order paid? (a) expense (b) income
2. 2.📅 When is the best time to update your records? (a) the same day (b) never (c) whenever you like (d) once a year
3. 3.True or false: “printing posters” is an expense (money out). (a) True (b) False
4. 4.Dev’s record for a rainy day:
   Income: ₹90 (sales)
   Expense: ₹40 (paper cups)
   Expense: ₹80 (sugar)
   How much is the loss (in ₹)?
5. 5.📒 Income or expense: tutoring fees received? (a) expense (b) income
6. 6.Rohan’s income was ₹340 and the profit was ₹300. One expense was ₹10 (transport). How much was the other expense, for posters (in ₹)?
7. 7.Riya’s record for a rainy day:
   Income: ₹70 (sales)
   Expense: ₹80 (transport)
   Expense: ₹10 (lemons)
   How much is the loss (in ₹)?
8. 8.📒 Income or expense: cash from selling plants? (a) expense (b) income
9. 9.📒 Income or expense: buying lemons? (a) expense (b) income
10. 10.Meera’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹180 (card paper)
    Expense: ₹30 (transport)
    How much is the loss (in ₹)?
11. 11.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
12. 12.Nisha’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹170 (paper cups)
    Expense: ₹20 (sugar)
    What is the profit (in ₹)?
13. 13.Which of these is an expense (money out)? (a) money from sales (b) buying paper cups (c) payment for a cake order (d) tutoring fees received
14. 14.True or false: “tutoring fees received” is income (money in). (a) True (b) False
15. 15.📒 Income or expense: bus fare to the market? (a) income (b) expense
16. 16.Riya’s income was ₹260 and the profit was ₹170. One expense was ₹60 (posters). How much was the other expense, for ribbon (in ₹)?
17. 17.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) just the income (d) income − expenses
18. 18.True or false: “paying the stall fee” is income (money in). (a) True (b) False
19. 19.📒 Income or expense: buying paper cups? (a) expense (b) income
20. 20.Which of these is income (money in)? (a) buying lemons (b) cash from selling plants (c) buying paper cups (d) paying the stall fee
21. 21.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) nothing (d) the bill or receipt
22. 22.Tara’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹50 (paper cups)
    Expense: ₹30 (card paper)
    What is the profit (in ₹)?
23. 23.True or false: “a card order paid” is an expense (money out). (a) True (b) False
24. 24.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) printing posters (d) money from sales
25. 25.Joseph’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹130 (ribbon)
    Expense: ₹80 (paper cups)
    What is the profit (in ₹)?
26. 26.Which of these is an expense (money out)? (a) cash from selling plants (b) paying the stall fee (c) payment for a cake order (d) a card order paid
27. 27.True or false: “cash from selling plants” is income (money in). (a) False (b) True
28. 28.Which of these is an expense (money out)? (a) bus fare to the market (b) a card order paid (c) cash from selling plants (d) tutoring fees received
29. 29.Kabir’s income was ₹350 and the profit was ₹120. One expense was ₹220 (paper cups). How much was the other expense, for card paper (in ₹)?
30. 30.True or false: “payment for a cake order” is income (money in). (a) True (b) False
31. 31.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) no reason (d) to fill a notebook
32. 32.Vihaan’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹170 (paper cups)
    Expense: ₹40 (card paper)
    What is the profit (in ₹)?
33. 33.📒 Income or expense: payment for a cake order? (a) income (b) expense
34. 34.Joseph’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹80 (stall fee)
    Expense: ₹20 (transport)
    How much is the loss (in ₹)?
35. 35.Ananya’s income was ₹500 and the profit was ₹40. One expense was ₹30 (paper cups). How much was the other expense, for stall fee (in ₹)?
36. 36.Diya’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹40 (ribbon)
    Expense: ₹60 (posters)
    How much is the loss (in ₹)?
37. 37.Farhan’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹130 (lemons)
    Expense: ₹190 (card paper)
    What is the profit (in ₹)?
38. 38.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
39. 39.📒 Income or expense: money from sales? (a) expense (b) income
40. 40.Vihaan’s record for the day:
    Income: ₹540 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹100 (paper cups)
    Expense: ₹200 (stall fee)
    What is the profit (in ₹)?

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