Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 426 · 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: “a card order paid” is income (money in). (a) True (b) False
2. 2.Which of these is income (money in)? (a) buying lemons (b) a card order paid (c) paying the stall fee (d) printing posters
3. 3.Aarav’s income was ₹400 and the profit was ₹330. One expense was ₹40 (paper cups). How much was the other expense, for transport (in ₹)?
4. 4.Kabir’s stall took in ₹60 on Friday, ₹100 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
5. 5.True or false: “buying paper cups” is income (money in). (a) False (b) True
6. 6.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) just the income (d) income + expenses
7. 7.📅 When is the best time to update your records? (a) the same day (b) once a year (c) whenever you like (d) never
8. 8.📒 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
9. 9.📒 Income or expense: buying lemons? (a) income (b) expense
10. 10.Vihaan’s income was ₹500 and the profit was ₹370. One expense was ₹120 (transport). How much was the other expense, for card paper (in ₹)?
11. 11.True or false: “printing posters” is income (money in). (a) True (b) False
12. 12.Riya’s income was ₹310 and the profit was ₹50. One expense was ₹50 (stall fee). How much was the other expense, for lemons (in ₹)?
13. 13.Lakshmi’s stall took in ₹80 on Friday, ₹320 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
14. 14.Kavya’s stall took in ₹350 on Friday, ₹80 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
15. 15.📒 Income or expense: buying paper cups? (a) expense (b) income
16. 16.True or false: “cash from selling plants” is income (money in). (a) True (b) False
17. 17.Which of these is an expense (money out)? (a) printing posters (b) payment for a cake order (c) tutoring fees received (d) a card order paid
18. 18.Ananya’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹10 (transport)
    Expense: ₹260 (ribbon)
    How much is the loss (in ₹)?
19. 19.True or false: “a card order paid” is an expense (money out). (a) False (b) True
20. 20.Tara’s income was ₹270 and the profit was ₹30. One expense was ₹20 (stall fee). How much was the other expense, for card paper (in ₹)?
21. 21.📒 Income or expense: printing posters? (a) expense (b) income
22. 22.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) cash from selling plants (d) buying paper cups
23. 23.Nisha’s income was ₹210 and the profit was ₹50. One expense was ₹120 (lemons). How much was the other expense, for ribbon (in ₹)?
24. 24.Aarav’s stall took in ₹120 on Friday, ₹220 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
25. 25.Lakshmi’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹140 (transport)
    Expense: ₹90 (paper cups)
    What is the profit (in ₹)?
26. 26.Which of these is income (money in)? (a) bus fare to the market (b) tutoring fees received (c) buying paper cups (d) buying lemons
27. 27.Meera’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹90 (sugar)
    Expense: ₹30 (lemons)
    How much is the loss (in ₹)?
28. 28.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) cash from selling plants (d) paying the stall fee
29. 29.Ananya’s stall took in ₹120 on Friday, ₹70 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
30. 30.Arjun’s income was ₹450 and the profit was ₹420. One expense was ₹10 (transport). How much was the other expense, for stall fee (in ₹)?
31. 31.True or false: “money from sales” is income (money in). (a) False (b) True
32. 32.Rohan’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹100 (lemons)
    Expense: ₹70 (transport)
    How much is the loss (in ₹)?
33. 33.Gurpreet’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹60 (sugar)
    Expense: ₹320 (transport)
    How much is the loss (in ₹)?
34. 34.Which of these is income (money in)? (a) buying paper cups (b) payment for a cake order (c) bus fare to the market (d) paying the stall fee
35. 35.Diya’s income was ₹140 and the profit was ₹40. One expense was ₹90 (sugar). How much was the other expense, for ribbon (in ₹)?
36. 36.📒 Income or expense: a card order paid? (a) income (b) expense
37. 37.True or false: “payment for a cake order” is income (money in). (a) True (b) False
38. 38.Dev’s income was ₹200 and the profit was ₹30. One expense was ₹160 (paper cups). How much was the other expense, for card paper (in ₹)?
39. 39.Which of these is income (money in)? (a) money from sales (b) bus fare to the market (c) paying the stall fee (d) buying paper cups
40. 40.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt

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