Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 331 · 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.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) a selfie (d) nothing
2. 2.True or false: “a card order paid” is income (money in). (a) False (b) True
3. 3.Vihaan’s record for the day:
   Income: ₹260 (morning sales)
   Income: ₹40 (evening sales)
   Expense: ₹110 (transport)
   Expense: ₹160 (sugar)
   What is the profit (in ₹)?
4. 4.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) money from sales (d) bus fare to the market
5. 5.True or false: “buying lemons” is an expense (money out). (a) False (b) True
6. 6.📒 Income or expense: bus fare to the market? (a) expense (b) income
7. 7.Which of these is income (money in)? (a) money from sales (b) buying lemons (c) paying the stall fee (d) printing posters
8. 8.True or false: “tutoring fees received” is income (money in). (a) True (b) False
9. 9.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) no reason (d) to look busy
10. 10.Zoya’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹20 (lemons)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?
11. 11.Gurpreet’s stall took in ₹280 on Friday, ₹260 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
12. 12.True or false: “cash from selling plants” is income (money in). (a) False (b) True
13. 13.Nisha’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹70 (stall fee)
    Expense: ₹60 (posters)
    How much is the loss (in ₹)?
14. 14.Riya’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹50 (transport)
    Expense: ₹90 (paper cups)
    What is the profit (in ₹)?
15. 15.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
16. 16.📒 Income or expense: payment for a cake order? (a) expense (b) income
17. 17.True or false: “buying paper cups” is income (money in). (a) True (b) False
18. 18.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) printing posters (d) cash from selling plants
19. 19.Which of these is an expense (money out)? (a) a card order paid (b) buying lemons (c) money from sales (d) payment for a cake order
20. 20.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
21. 21.Lakshmi’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹10 (card paper)
    Expense: ₹170 (paper cups)
    How much is the loss (in ₹)?
22. 22.True or false: “money from sales” is an expense (money out). (a) False (b) True
23. 23.Diya’s income was ₹210 and the profit was ₹150. One expense was ₹40 (paper cups). How much was the other expense, for lemons (in ₹)?
24. 24.Ananya’s stall took in ₹140 on Friday, ₹210 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
25. 25.Aarav’s stall took in ₹120 on Friday, ₹400 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
26. 26.Diya’s stall took in ₹150 on Friday, ₹330 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
27. 27.Farhan’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹60 (stall fee)
    Expense: ₹120 (lemons)
    What is the profit (in ₹)?
28. 28.Farhan’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹40 (lemons)
    Expense: ₹120 (posters)
    What is the profit (in ₹)?
29. 29.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
30. 30.Dev’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹80 (transport)
    Expense: ₹290 (lemons)
    How much is the loss (in ₹)?
31. 31.Which of these is an expense (money out)? (a) printing posters (b) tutoring fees received (c) a card order paid (d) payment for a cake order
32. 32.Tara’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹120 (lemons)
    Expense: ₹10 (stall fee)
    How much is the loss (in ₹)?
33. 33.Joseph’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹130 (posters)
    Expense: ₹20 (sugar)
    How much is the loss (in ₹)?
34. 34.True or false: “bus fare to the market” is income (money in). (a) False (b) True
35. 35.📒 Income or expense: paying the stall fee? (a) income (b) expense
36. 36.Which of these is income (money in)? (a) payment for a cake order (b) bus fare to the market (c) paying the stall fee (d) buying lemons
37. 37.True or false: “money from sales” is income (money in). (a) False (b) True
38. 38.Arjun’s stall took in ₹190 on Friday, ₹250 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
39. 39.➖ Profit in your records = (a) income + expenses (b) just the income (c) income − expenses (d) expenses − income
40. 40.Kavya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹40 (paper cups)
    What is the profit (in ₹)?

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