Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 412 · 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: “bus fare to the market” is income (money in). (a) False (b) True
2. 2.Ishaan’s record for the day:
   Income: ₹110 (morning sales)
   Income: ₹170 (evening sales)
   Expense: ₹90 (card paper)
   Expense: ₹40 (posters)
   What is the profit (in ₹)?
3. 3.True or false: “money from sales” is income (money in). (a) False (b) True
4. 4.Farhan’s income was ₹360 and the profit was ₹270. One expense was ₹10 (card paper). How much was the other expense, for transport (in ₹)?
5. 5.Ananya’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹100 (ribbon)
   Expense: ₹20 (sugar)
   How much is the loss (in ₹)?
6. 6.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) income + expenses (d) just the income
7. 7.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) a card order paid (d) buying lemons
8. 8.Which of these is an expense (money out)? (a) tutoring fees received (b) buying paper cups (c) payment for a cake order (d) cash from selling plants
9. 9.📒 Income or expense: tutoring fees received? (a) income (b) expense
10. 10.Tara’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹140 (transport)
    Expense: ₹40 (ribbon)
    What is the profit (in ₹)?
11. 11.Ananya’s income was ₹470 and the profit was ₹90. One expense was ₹200 (ribbon). How much was the other expense, for transport (in ₹)?
12. 12.📒 Income or expense: buying lemons? (a) expense (b) income
13. 13.True or false: “cash from selling plants” is income (money in). (a) True (b) False
14. 14.Which of these is an expense (money out)? (a) paying the stall fee (b) tutoring fees received (c) cash from selling plants (d) payment for a cake order
15. 15.Which of these is income (money in)? (a) printing posters (b) cash from selling plants (c) buying paper cups (d) buying lemons
16. 16.Diya’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹170 (ribbon)
    Expense: ₹60 (paper cups)
    How much is the loss (in ₹)?
17. 17.📒 Income or expense: payment for a cake order? (a) expense (b) income
18. 18.Zoya’s stall took in ₹300 on Friday, ₹60 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
19. 19.Rohan’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹50 (sugar)
    Expense: ₹160 (card paper)
    How much is the loss (in ₹)?
20. 20.Kabir’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹80 (sugar)
    Expense: ₹210 (card paper)
    How much is the loss (in ₹)?
21. 21.Vihaan’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹20 (sugar)
    Expense: ₹30 (lemons)
    What is the profit (in ₹)?
22. 22.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) only the bag (d) the bill or receipt
23. 23.📒 Income or expense: printing posters? (a) income (b) expense
24. 24.True or false: “a card order paid” is income (money in). (a) True (b) False
25. 25.Aarav’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹20 (transport)
    Expense: ₹50 (ribbon)
    What is the profit (in ₹)?
26. 26.Gurpreet’s stall took in ₹150 on Friday, ₹190 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
27. 27.Ananya’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹480 (evening sales)
    Expense: ₹150 (ribbon)
    Expense: ₹120 (transport)
    What is the profit (in ₹)?
28. 28.True or false: “paying the stall fee” is income (money in). (a) False (b) True
29. 29.Arjun’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹20 (paper cups)
    Expense: ₹160 (stall fee)
    What is the profit (in ₹)?
30. 30.Kavya’s stall took in ₹400 on Friday, ₹130 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
31. 31.True or false: “money from sales” is an expense (money out). (a) True (b) False
32. 32.True or false: “buying lemons” is an expense (money out). (a) True (b) False
33. 33.Kavya’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹40 (lemons)
    Expense: ₹140 (posters)
    What is the profit (in ₹)?
34. 34.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to look busy (d) to fill a notebook
35. 35.Which of these is income (money in)? (a) paying the stall fee (b) money from sales (c) printing posters (d) buying paper cups
36. 36.Which of these is an expense (money out)? (a) money from sales (b) printing posters (c) a card order paid (d) cash from selling plants
37. 37.True or false: “buying lemons” is income (money in). (a) False (b) True
38. 38.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
39. 39.📒 Income or expense: paying the stall fee? (a) income (b) expense
40. 40.Meera’s income was ₹430 and the profit was ₹90. One expense was ₹110 (lemons). How much was the other expense, for ribbon (in ₹)?

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