Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 369 · 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: “bus fare to the market” is an expense (money out). (a) False (b) True
3. 3.Which of these is an expense (money out)? (a) money from sales (b) bus fare to the market (c) payment for a cake order (d) cash from selling plants
4. 4.True or false: “a card order paid” is income (money in). (a) True (b) False
5. 5.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) the same day (d) never
6. 6.Arjun’s stall took in ₹370 on Friday, ₹240 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
7. 7.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
8. 8.True or false: “tutoring fees received” is income (money in). (a) True (b) False
9. 9.Kabir’s income was ₹370 and the profit was ₹220. One expense was ₹140 (paper cups). How much was the other expense, for lemons (in ₹)?
10. 10.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) to know the real profit (d) no reason
11. 11.Saanvi’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹130 (paper cups)
    Expense: ₹80 (posters)
    How much is the loss (in ₹)?
12. 12.📒 Income or expense: cash from selling plants? (a) income (b) expense
13. 13.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
14. 14.Aarav’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹10 (sugar)
    Expense: ₹70 (lemons)
    How much is the loss (in ₹)?
15. 15.Aarav’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹60 (lemons)
    Expense: ₹80 (card paper)
    What is the profit (in ₹)?
16. 16.Kavya’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹130 (lemons)
    Expense: ₹150 (posters)
    What is the profit (in ₹)?
17. 17.📒 Income or expense: bus fare to the market? (a) expense (b) income
18. 18.True or false: “money from sales” is income (money in). (a) False (b) True
19. 19.Gurpreet’s stall took in ₹230 on Friday, ₹260 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
20. 20.Kabir’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹100 (stall fee)
    Expense: ₹90 (transport)
    How much is the loss (in ₹)?
21. 21.Rohan’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹470 (evening sales)
    Expense: ₹170 (lemons)
    Expense: ₹30 (posters)
    What is the profit (in ₹)?
22. 22.True or false: “bus fare to the market” is income (money in). (a) True (b) False
23. 23.Kabir’s stall took in ₹170 on Friday, ₹60 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
24. 24.Riya’s stall took in ₹150 on Friday, ₹240 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
25. 25.Diya’s stall took in ₹370 on Friday, ₹90 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
26. 26.Which of these is an expense (money out)? (a) buying lemons (b) cash from selling plants (c) a card order paid (d) tutoring fees received
27. 27.Vihaan’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹40 (transport)
    Expense: ₹180 (lemons)
    What is the profit (in ₹)?
28. 28.True or false: “cash from selling plants” is income (money in). (a) False (b) True
29. 29.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) only the bag (d) nothing
30. 30.Dev’s stall took in ₹280 on Friday, ₹110 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
31. 31.Ishaan’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹70 (paper cups)
    Expense: ₹40 (lemons)
    How much is the loss (in ₹)?
32. 32.Zoya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹50 (sugar)
    Expense: ₹130 (card paper)
    What is the profit (in ₹)?
33. 33.📒 Income or expense: payment for a cake order? (a) income (b) expense
34. 34.📒 Income or expense: buying lemons? (a) expense (b) income
35. 35.Ishaan’s income was ₹410 and the profit was ₹30. One expense was ₹190 (paper cups). How much was the other expense, for ribbon (in ₹)?
36. 36.📒 Income or expense: paying the stall fee? (a) income (b) expense
37. 37.📒 Income or expense: money from sales? (a) expense (b) income
38. 38.Vihaan’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹30 (sugar)
    Expense: ₹120 (paper cups)
    How much is the loss (in ₹)?
39. 39.📒 Income or expense: tutoring fees received? (a) income (b) expense
40. 40.Kavya’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹80 (lemons)
    Expense: ₹140 (transport)
    How much is the loss (in ₹)?

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