Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 400 · 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: “money from sales” is an expense (money out). (a) True (b) False
2. 2.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) cash from selling plants (d) paying the stall fee
3. 3.📒 Income or expense: money from sales? (a) expense (b) income
4. 4.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) the same day (d) never
5. 5.Dev’s stall took in ₹60 on Friday, ₹50 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
6. 6.Meera’s record for a rainy day:
   Income: ₹120 (sales)
   Expense: ₹140 (sugar)
   Expense: ₹60 (paper cups)
   How much is the loss (in ₹)?
7. 7.Which of these is income (money in)? (a) printing posters (b) payment for a cake order (c) bus fare to the market (d) buying lemons
8. 8.📒 Income or expense: tutoring fees received? (a) income (b) expense
9. 9.True or false: “buying paper cups” is income (money in). (a) True (b) False
10. 10.Vihaan’s stall took in ₹230 on Friday, ₹250 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
11. 11.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
12. 12.Dev’s stall took in ₹210 on Friday, ₹70 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
13. 13.Riya’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹120 (posters)
    Expense: ₹130 (sugar)
    How much is the loss (in ₹)?
14. 14.True or false: “cash from selling plants” is income (money in). (a) True (b) False
15. 15.Rohan’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹200 (paper cups)
    Expense: ₹200 (sugar)
    What is the profit (in ₹)?
16. 16.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) paying the stall fee (d) money from sales
17. 17.Kabir’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹30 (paper cups)
    Expense: ₹30 (posters)
    What is the profit (in ₹)?
18. 18.True or false: “printing posters” is income (money in). (a) True (b) False
19. 19.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) a card order paid (d) bus fare to the market
20. 20.Joseph’s stall took in ₹80 on Friday, ₹280 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
21. 21.Vihaan’s stall took in ₹200 on Friday, ₹250 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
22. 22.📒 Income or expense: bus fare to the market? (a) expense (b) income
23. 23.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) buying paper cups (d) a card order paid
24. 24.Diya’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹140 (transport)
    What is the profit (in ₹)?
25. 25.Aarav’s income was ₹130 and the profit was ₹30. One expense was ₹30 (card paper). How much was the other expense, for paper cups (in ₹)?
26. 26.Nisha’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹200 (posters)
    Expense: ₹150 (ribbon)
    What is the profit (in ₹)?
27. 27.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
28. 28.📒 Income or expense: buying paper cups? (a) expense (b) income
29. 29.Tara’s stall took in ₹370 on Friday, ₹60 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
30. 30.➖ Profit in your records = (a) just the income (b) expenses − income (c) income + expenses (d) income − expenses
31. 31.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) the bill or receipt (d) a selfie
32. 32.Arjun’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹240 (lemons)
    Expense: ₹20 (paper cups)
    How much is the loss (in ₹)?
33. 33.📒 Income or expense: paying the stall fee? (a) income (b) expense
34. 34.Diya’s income was ₹200 and the profit was ₹30. One expense was ₹20 (lemons). How much was the other expense, for sugar (in ₹)?
35. 35.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) to look busy (d) no reason
36. 36.📒 Income or expense: printing posters? (a) expense (b) income
37. 37.True or false: “buying lemons” is an expense (money out). (a) True (b) False
38. 38.Kavya’s income was ₹150 and the profit was ₹130. One expense was ₹10 (transport). How much was the other expense, for ribbon (in ₹)?
39. 39.Meera’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹40 (card paper)
    Expense: ₹130 (transport)
    What is the profit (in ₹)?
40. 40.Saanvi’s income was ₹410 and the profit was ₹30. One expense was ₹310 (card paper). How much was the other expense, for stall fee (in ₹)?

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