Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 377 · 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: “cash from selling plants” is income (money in). (a) True (b) False
2. 2.True or false: “buying lemons” is an expense (money out). (a) False (b) True
3. 3.Diya’s record for the day:
   Income: ₹60 (morning sales)
   Income: ₹280 (evening sales)
   Expense: ₹60 (posters)
   Expense: ₹120 (ribbon)
   What is the profit (in ₹)?
4. 4.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) payment for a cake order (d) buying lemons
5. 5.📅 When is the best time to update your records? (a) the same day (b) never (c) whenever you like (d) once a year
6. 6.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) a selfie (d) nothing
7. 7.Ananya’s record for the day:
   Income: ₹240 (morning sales)
   Income: ₹250 (evening sales)
   Expense: ₹200 (ribbon)
   Expense: ₹80 (sugar)
   What is the profit (in ₹)?
8. 8.📒 Income or expense: bus fare to the market? (a) expense (b) income
9. 9.True or false: “money from sales” is an expense (money out). (a) True (b) False
10. 10.Kabir’s stall took in ₹140 on Friday, ₹190 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
11. 11.Which of these is income (money in)? (a) bus fare to the market (b) payment for a cake order (c) buying paper cups (d) printing posters
12. 12.Aarav’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹160 (ribbon)
    Expense: ₹30 (transport)
    How much is the loss (in ₹)?
13. 13.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) bus fare to the market (d) a card order paid
14. 14.True or false: “buying lemons” is income (money in). (a) True (b) False
15. 15.Diya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹110 (paper cups)
    Expense: ₹30 (card paper)
    What is the profit (in ₹)?
16. 16.📒 Income or expense: a card order paid? (a) expense (b) income
17. 17.Meera’s stall took in ₹360 on Friday, ₹110 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
18. 18.Nisha’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹200 (paper cups)
    Expense: ₹190 (ribbon)
    What is the profit (in ₹)?
19. 19.➖ Profit in your records = (a) just the income (b) income + expenses (c) income − expenses (d) expenses − income
20. 20.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) money from sales (d) bus fare to the market
21. 21.📒 Income or expense: payment for a cake order? (a) income (b) expense
22. 22.Tara’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹190 (posters)
    Expense: ₹190 (stall fee)
    What is the profit (in ₹)?
23. 23.Which of these is an expense (money out)? (a) money from sales (b) printing posters (c) tutoring fees received (d) payment for a cake order
24. 24.Zoya’s income was ₹270 and the profit was ₹30. One expense was ₹70 (transport). How much was the other expense, for stall fee (in ₹)?
25. 25.📒 Income or expense: buying lemons? (a) expense (b) income
26. 26.Aarav’s income was ₹230 and the profit was ₹180. One expense was ₹10 (posters). How much was the other expense, for stall fee (in ₹)?
27. 27.Meera’s stall took in ₹320 on Friday, ₹290 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
28. 28.Farhan’s income was ₹240 and the profit was ₹10. One expense was ₹50 (posters). How much was the other expense, for sugar (in ₹)?
29. 29.True or false: “a card order paid” is income (money in). (a) True (b) False
30. 30.Meera’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹170 (ribbon)
    Expense: ₹70 (paper cups)
    What is the profit (in ₹)?
31. 31.Arjun’s income was ₹270 and the profit was ₹180. One expense was ₹10 (card paper). How much was the other expense, for sugar (in ₹)?
32. 32.📒 Income or expense: cash from selling plants? (a) expense (b) income
33. 33.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
34. 34.Meera’s record for the day:
    Income: ₹510 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹180 (ribbon)
    Expense: ₹190 (posters)
    What is the profit (in ₹)?
35. 35.True or false: “printing posters” is an expense (money out). (a) False (b) True
36. 36.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to fill a notebook (d) to know the real profit
37. 37.Zoya’s stall took in ₹130 on Friday, ₹130 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
38. 38.Arjun’s stall took in ₹170 on Friday, ₹260 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
39. 39.📒 Income or expense: paying the stall fee? (a) expense (b) income
40. 40.Diya’s income was ₹230 and the profit was ₹10. One expense was ₹190 (sugar). How much was the other expense, for card paper (in ₹)?

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