Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 383 · 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: “payment for a cake order” is income (money in). (a) True (b) False
2. 2.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) income − expenses (d) just the income
3. 3.📒 Income or expense: payment for a cake order? (a) expense (b) income
4. 4.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) buying lemons (d) a card order paid
5. 5.True or false: “a card order paid” is income (money in). (a) False (b) True
6. 6.Arjun’s record for a rainy day:
   Income: ₹210 (sales)
   Expense: ₹120 (ribbon)
   Expense: ₹180 (lemons)
   How much is the loss (in ₹)?
7. 7.📒 Income or expense: cash from selling plants? (a) expense (b) income
8. 8.Farhan’s record for the day:
   Income: ₹230 (morning sales)
   Income: ₹10 (evening sales)
   Expense: ₹140 (ribbon)
   Expense: ₹80 (paper cups)
   What is the profit (in ₹)?
9. 9.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) buying paper cups (d) money from sales
10. 10.Which of these is income (money in)? (a) payment for a cake order (b) printing posters (c) buying lemons (d) bus fare to the market
11. 11.Lakshmi’s stall took in ₹110 on Friday, ₹360 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
12. 12.Which of these is an expense (money out)? (a) buying lemons (b) money from sales (c) cash from selling plants (d) payment for a cake order
13. 13.Riya’s record for the day:
    Income: ₹380 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹110 (posters)
    Expense: ₹150 (transport)
    What is the profit (in ₹)?
14. 14.Zoya’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹160 (transport)
    Expense: ₹20 (stall fee)
    How much is the loss (in ₹)?
15. 15.Which of these is an expense (money out)? (a) money from sales (b) paying the stall fee (c) tutoring fees received (d) payment for a cake order
16. 16.True or false: “printing posters” is income (money in). (a) False (b) True
17. 17.Dev’s income was ₹380 and the profit was ₹170. One expense was ₹110 (sugar). How much was the other expense, for card paper (in ₹)?
18. 18.Which of these is income (money in)? (a) paying the stall fee (b) cash from selling plants (c) bus fare to the market (d) buying lemons
19. 19.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) tutoring fees received (d) paying the stall fee
20. 20.📒 Income or expense: tutoring fees received? (a) income (b) expense
21. 21.True or false: “tutoring fees received” is income (money in). (a) True (b) False
22. 22.True or false: “cash from selling plants” is income (money in). (a) True (b) False
23. 23.True or false: “buying lemons” is income (money in). (a) False (b) True
24. 24.Ishaan’s stall took in ₹390 on Friday, ₹380 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
25. 25.📒 Income or expense: buying lemons? (a) income (b) expense
26. 26.Aarav’s stall took in ₹340 on Friday, ₹230 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
27. 27.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) payment for a cake order (d) bus fare to the market
28. 28.Which of these is an expense (money out)? (a) printing posters (b) a card order paid (c) cash from selling plants (d) payment for a cake order
29. 29.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) nothing (d) the bill or receipt
30. 30.Ananya’s income was ₹420 and the profit was ₹160. One expense was ₹230 (sugar). How much was the other expense, for posters (in ₹)?
31. 31.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) the same day (d) never
32. 32.Meera’s income was ₹210 and the profit was ₹100. One expense was ₹10 (stall fee). How much was the other expense, for lemons (in ₹)?
33. 33.Vihaan’s income was ₹160 and the profit was ₹30. One expense was ₹40 (paper cups). How much was the other expense, for transport (in ₹)?
34. 34.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to know the real profit (d) to fill a notebook
35. 35.Joseph’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹70 (card paper)
    Expense: ₹200 (transport)
    What is the profit (in ₹)?
36. 36.Meera’s stall took in ₹120 on Friday, ₹360 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
37. 37.Kabir’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹60 (paper cups)
    Expense: ₹90 (posters)
    How much is the loss (in ₹)?
38. 38.📒 Income or expense: bus fare to the market? (a) expense (b) income
39. 39.Ananya’s stall took in ₹100 on Friday, ₹230 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
40. 40.Ishaan’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹50 (posters)
    Expense: ₹20 (stall fee)
    How much is the loss (in ₹)?

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