Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 416 · 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.📒 Income or expense: buying lemons? (a) expense (b) income
2. 2.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) buying lemons (d) tutoring fees received
3. 3.📒 Income or expense: paying the stall fee? (a) income (b) expense
4. 4.Nisha’s income was ₹410 and the profit was ₹40. One expense was ₹150 (ribbon). How much was the other expense, for card paper (in ₹)?
5. 5.True or false: “a card order paid” is an expense (money out). (a) False (b) True
6. 6.Which of these is income (money in)? (a) payment for a cake order (b) buying paper cups (c) bus fare to the market (d) buying lemons
7. 7.📒 Income or expense: a card order paid? (a) expense (b) income
8. 8.True or false: “buying paper cups” is income (money in). (a) False (b) True
9. 9.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
10. 10.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) no reason (d) to look busy
11. 11.Gurpreet’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹20 (card paper)
    Expense: ₹100 (transport)
    What is the profit (in ₹)?
12. 12.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) the bill or receipt (d) only the bag
13. 13.True or false: “buying lemons” is income (money in). (a) False (b) True
14. 14.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) cash from selling plants (d) printing posters
15. 15.True or false: “money from sales” is income (money in). (a) False (b) True
16. 16.True or false: “payment for a cake order” is income (money in). (a) True (b) False
17. 17.Ananya’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹110 (card paper)
    Expense: ₹120 (transport)
    How much is the loss (in ₹)?
18. 18.📒 Income or expense: tutoring fees received? (a) income (b) expense
19. 19.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) payment for a cake order (d) printing posters
20. 20.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) buying paper cups (d) money from sales
21. 21.Meera’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹120 (lemons)
    Expense: ₹10 (paper cups)
    How much is the loss (in ₹)?
22. 22.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
23. 23.📒 Income or expense: printing posters? (a) income (b) expense
24. 24.Ananya’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹120 (lemons)
    Expense: ₹90 (transport)
    How much is the loss (in ₹)?
25. 25.Meera’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹20 (lemons)
    What is the profit (in ₹)?
26. 26.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
27. 27.📒 Income or expense: payment for a cake order? (a) income (b) expense
28. 28.Kabir’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹80 (sugar)
    Expense: ₹20 (stall fee)
    How much is the loss (in ₹)?
29. 29.Lakshmi’s record for the day:
    Income: ₹580 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹200 (ribbon)
    Expense: ₹160 (lemons)
    What is the profit (in ₹)?
30. 30.True or false: “paying the stall fee” is income (money in). (a) True (b) False
31. 31.Which of these is income (money in)? (a) paying the stall fee (b) a card order paid (c) buying lemons (d) printing posters
32. 32.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) money from sales (d) paying the stall fee
33. 33.Zoya’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹20 (ribbon)
    Expense: ₹200 (stall fee)
    How much is the loss (in ₹)?
34. 34.Saanvi’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹140 (card paper)
    Expense: ₹60 (paper cups)
    How much is the loss (in ₹)?
35. 35.📒 Income or expense: money from sales? (a) expense (b) income
36. 36.Tara’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹180 (paper cups)
    Expense: ₹130 (posters)
    How much is the loss (in ₹)?
37. 37.Arjun’s income was ₹310 and the profit was ₹70. One expense was ₹30 (sugar). How much was the other expense, for posters (in ₹)?
38. 38.📒 Income or expense: bus fare to the market? (a) expense (b) income
39. 39.Gurpreet’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹60 (sugar)
    Expense: ₹60 (stall fee)
    What is the profit (in ₹)?
40. 40.Nisha’s stall took in ₹250 on Friday, ₹230 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?

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