Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 420 · 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: payment for a cake order? (a) income (b) expense
2. 2.Which of these is an expense (money out)? (a) buying lemons (b) cash from selling plants (c) money from sales (d) tutoring fees received
3. 3.Saanvi’s stall took in ₹350 on Friday, ₹350 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
4. 4.Gurpreet’s stall took in ₹130 on Friday, ₹160 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
5. 5.True or false: “cash from selling plants” is income (money in). (a) True (b) False
6. 6.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
7. 7.Vihaan’s record for the day:
   Income: ₹320 (morning sales)
   Income: ₹150 (evening sales)
   Expense: ₹150 (paper cups)
   Expense: ₹20 (card paper)
   What is the profit (in ₹)?
8. 8.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) to fill a notebook (d) no reason
9. 9.📒 Income or expense: tutoring fees received? (a) expense (b) income
10. 10.Saanvi’s stall took in ₹140 on Friday, ₹250 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
11. 11.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) bus fare to the market (d) tutoring fees received
12. 12.📒 Income or expense: printing posters? (a) income (b) expense
13. 13.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
14. 14.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) income − expenses (d) just the income
15. 15.Which of these is income (money in)? (a) money from sales (b) buying paper cups (c) bus fare to the market (d) paying the stall fee
16. 16.Arjun’s income was ₹480 and the profit was ₹240. One expense was ₹60 (lemons). How much was the other expense, for card paper (in ₹)?
17. 17.Joseph’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹190 (card paper)
    Expense: ₹120 (lemons)
    How much is the loss (in ₹)?
18. 18.True or false: “paying the stall fee” is income (money in). (a) True (b) False
19. 19.Aarav’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹130 (lemons)
    Expense: ₹100 (posters)
    How much is the loss (in ₹)?
20. 20.Which of these is income (money in)? (a) tutoring fees received (b) printing posters (c) paying the stall fee (d) bus fare to the market
21. 21.📅 When is the best time to update your records? (a) the same day (b) never (c) whenever you like (d) once a year
22. 22.Meera’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹150 (ribbon)
    Expense: ₹70 (sugar)
    What is the profit (in ₹)?
23. 23.📒 Income or expense: bus fare to the market? (a) expense (b) income
24. 24.Arjun’s income was ₹200 and the profit was ₹20. One expense was ₹20 (lemons). How much was the other expense, for card paper (in ₹)?
25. 25.True or false: “buying lemons” is an expense (money out). (a) False (b) True
26. 26.Vihaan’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹30 (lemons)
    What is the profit (in ₹)?
27. 27.📒 Income or expense: money from sales? (a) income (b) expense
28. 28.Zoya’s stall took in ₹90 on Friday, ₹180 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
29. 29.True or false: “bus fare to the market” is income (money in). (a) False (b) True
30. 30.Meera’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹300 (ribbon)
    Expense: ₹30 (posters)
    How much is the loss (in ₹)?
31. 31.Gurpreet’s income was ₹450 and the profit was ₹100. One expense was ₹140 (ribbon). How much was the other expense, for posters (in ₹)?
32. 32.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
33. 33.📒 Income or expense: cash from selling plants? (a) expense (b) income
34. 34.Zoya’s income was ₹120 and the profit was ₹20. One expense was ₹70 (lemons). How much was the other expense, for paper cups (in ₹)?
35. 35.Lakshmi’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹40 (lemons)
    Expense: ₹120 (posters)
    What is the profit (in ₹)?
36. 36.Rohan’s income was ₹260 and the profit was ₹100. One expense was ₹120 (paper cups). How much was the other expense, for stall fee (in ₹)?
37. 37.Tara’s stall took in ₹140 on Friday, ₹170 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
38. 38.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) buying paper cups (d) tutoring fees received
39. 39.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
40. 40.Which of these is income (money in)? (a) payment for a cake order (b) bus fare to the market (c) buying paper cups (d) paying the stall fee

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