Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 320 · 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: “a card order paid” is income (money in). (a) True (b) False
2. 2.Arjun’s record for a rainy day:
   Income: ₹160 (sales)
   Expense: ₹130 (card paper)
   Expense: ₹130 (sugar)
   How much is the loss (in ₹)?
3. 3.Arjun’s income was ₹260 and the profit was ₹120. One expense was ₹20 (stall fee). How much was the other expense, for ribbon (in ₹)?
4. 4.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
5. 5.➖ Profit in your records = (a) income − expenses (b) just the income (c) income + expenses (d) expenses − income
6. 6.True or false: “paying the stall fee” is income (money in). (a) True (b) False
7. 7.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) a selfie (d) only the bag
8. 8.📒 Income or expense: tutoring fees received? (a) income (b) expense
9. 9.Which of these is income (money in)? (a) buying lemons (b) cash from selling plants (c) printing posters (d) bus fare to the market
10. 10.📒 Income or expense: cash from selling plants? (a) expense (b) income
11. 11.Which of these is income (money in)? (a) a card order paid (b) buying lemons (c) bus fare to the market (d) buying paper cups
12. 12.True or false: “buying lemons” is an expense (money out). (a) True (b) False
13. 13.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) no reason (d) to look busy
14. 14.Which of these is an expense (money out)? (a) cash from selling plants (b) printing posters (c) payment for a cake order (d) a card order paid
15. 15.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) never (d) the same day
16. 16.Dev’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹440 (evening sales)
    Expense: ₹180 (paper cups)
    Expense: ₹120 (card paper)
    What is the profit (in ₹)?
17. 17.Lakshmi’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹110 (stall fee)
    Expense: ₹80 (paper cups)
    What is the profit (in ₹)?
18. 18.📒 Income or expense: buying paper cups? (a) income (b) expense
19. 19.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) money from sales (d) paying the stall fee
20. 20.Diya’s stall took in ₹300 on Friday, ₹260 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
21. 21.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) tutoring fees received (d) bus fare to the market
22. 22.Farhan’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹280 (card paper)
    Expense: ₹70 (lemons)
    How much is the loss (in ₹)?
23. 23.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
24. 24.Gurpreet’s stall took in ₹150 on Friday, ₹170 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
25. 25.Rohan’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹100 (posters)
    Expense: ₹90 (ribbon)
    What is the profit (in ₹)?
26. 26.Diya’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹20 (ribbon)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?
27. 27.True or false: “printing posters” is income (money in). (a) True (b) False
28. 28.Diya’s income was ₹160 and the profit was ₹30. One expense was ₹70 (paper cups). How much was the other expense, for transport (in ₹)?
29. 29.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
30. 30.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) paying the stall fee (d) cash from selling plants
31. 31.📒 Income or expense: bus fare to the market? (a) income (b) expense
32. 32.Tara’s stall took in ₹130 on Friday, ₹70 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
33. 33.Ananya’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹30 (ribbon)
    Expense: ₹70 (transport)
    What is the profit (in ₹)?
34. 34.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
35. 35.📒 Income or expense: printing posters? (a) income (b) expense
36. 36.Joseph’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹190 (stall fee)
    Expense: ₹40 (lemons)
    What is the profit (in ₹)?
37. 37.True or false: “tutoring fees received” is income (money in). (a) True (b) False
38. 38.Zoya’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹160 (sugar)
    Expense: ₹30 (transport)
    How much is the loss (in ₹)?
39. 39.📒 Income or expense: payment for a cake order? (a) income (b) expense
40. 40.Farhan’s stall took in ₹170 on Friday, ₹120 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?

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