Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 425 · 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: cash from selling plants? (a) expense (b) income
2. 2.True or false: “a card order paid” is an expense (money out). (a) True (b) False
3. 3.Meera’s record for a rainy day:
   Income: ₹110 (sales)
   Expense: ₹120 (posters)
   Expense: ₹90 (ribbon)
   How much is the loss (in ₹)?
4. 4.📒 Income or expense: buying paper cups? (a) expense (b) income
5. 5.📒 Income or expense: bus fare to the market? (a) expense (b) income
6. 6.📒 Income or expense: buying lemons? (a) expense (b) income
7. 7.📒 Income or expense: paying the stall fee? (a) income (b) expense
8. 8.Which of these is an expense (money out)? (a) cash from selling plants (b) bus fare to the market (c) tutoring fees received (d) payment for a cake order
9. 9.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to look busy (d) to fill a notebook
10. 10.True or false: “printing posters” is an expense (money out). (a) False (b) True
11. 11.True or false: “money from sales” is an expense (money out). (a) True (b) False
12. 12.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
13. 13.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
14. 14.True or false: “buying lemons” is income (money in). (a) True (b) False
15. 15.Rohan’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹60 (lemons)
    Expense: ₹190 (transport)
    How much is the loss (in ₹)?
16. 16.📒 Income or expense: a card order paid? (a) income (b) expense
17. 17.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) tutoring fees received (d) paying the stall fee
18. 18.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
19. 19.Saanvi’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹120 (sugar)
    Expense: ₹10 (lemons)
    How much is the loss (in ₹)?
20. 20.Rohan’s income was ₹440 and the profit was ₹30. One expense was ₹400 (sugar). How much was the other expense, for ribbon (in ₹)?
21. 21.Farhan’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹140 (sugar)
    Expense: ₹190 (ribbon)
    What is the profit (in ₹)?
22. 22.📒 Income or expense: money from sales? (a) income (b) expense
23. 23.Aarav’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹270 (stall fee)
    Expense: ₹80 (transport)
    How much is the loss (in ₹)?
24. 24.Tara’s income was ₹230 and the profit was ₹50. One expense was ₹20 (paper cups). How much was the other expense, for sugar (in ₹)?
25. 25.True or false: “printing posters” is income (money in). (a) True (b) False
26. 26.Diya’s stall took in ₹180 on Friday, ₹160 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
27. 27.Which of these is an expense (money out)? (a) a card order paid (b) buying lemons (c) cash from selling plants (d) money from sales
28. 28.True or false: “tutoring fees received” is income (money in). (a) True (b) False
29. 29.Saanvi’s income was ₹400 and the profit was ₹10. One expense was ₹190 (posters). How much was the other expense, for sugar (in ₹)?
30. 30.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) buying paper cups (d) money from sales
31. 31.Riya’s income was ₹370 and the profit was ₹320. One expense was ₹20 (sugar). How much was the other expense, for transport (in ₹)?
32. 32.Ishaan’s stall took in ₹80 on Friday, ₹160 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
33. 33.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) a selfie (d) the bill or receipt
34. 34.Kabir’s income was ₹150 and the profit was ₹50. One expense was ₹30 (stall fee). How much was the other expense, for posters (in ₹)?
35. 35.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
36. 36.Aarav’s stall took in ₹60 on Friday, ₹380 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
37. 37.Meera’s income was ₹290 and the profit was ₹190. One expense was ₹80 (transport). How much was the other expense, for stall fee (in ₹)?
38. 38.Lakshmi’s income was ₹150 and the profit was ₹40. One expense was ₹50 (sugar). How much was the other expense, for posters (in ₹)?
39. 39.📅 When is the best time to update your records? (a) never (b) the same day (c) whenever you like (d) once a year
40. 40.Dev’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹20 (stall fee)
    Expense: ₹170 (card paper)
    What is the profit (in ₹)?

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