Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 431 · 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.Which of these is income (money in)? (a) paying the stall fee (b) cash from selling plants (c) buying lemons (d) bus fare to the market
2. 2.📒 Income or expense: buying paper cups? (a) income (b) expense
3. 3.Kavya’s record for the day:
   Income: ₹70 (morning sales)
   Income: ₹200 (evening sales)
   Expense: ₹60 (lemons)
   Expense: ₹50 (stall fee)
   What is the profit (in ₹)?
4. 4.Vihaan’s income was ₹380 and the profit was ₹320. One expense was ₹40 (stall fee). How much was the other expense, for posters (in ₹)?
5. 5.📒 Income or expense: printing posters? (a) expense (b) income
6. 6.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) only the bag (d) a selfie
7. 7.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
8. 8.Diya’s stall took in ₹170 on Friday, ₹170 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
9. 9.📒 Income or expense: money from sales? (a) expense (b) income
10. 10.📒 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
11. 11.📒 Income or expense: cash from selling plants? (a) expense (b) income
12. 12.Joseph’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹70 (lemons)
    Expense: ₹90 (stall fee)
    What is the profit (in ₹)?
13. 13.True or false: “buying lemons” is income (money in). (a) False (b) True
14. 14.📅 When is the best time to update your records? (a) the same day (b) never (c) whenever you like (d) once a year
15. 15.Vihaan’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹170 (sugar)
    Expense: ₹50 (card paper)
    How much is the loss (in ₹)?
16. 16.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
17. 17.True or false: “printing posters” is an expense (money out). (a) True (b) False
18. 18.True or false: “a card order paid” is an expense (money out). (a) False (b) True
19. 19.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) tutoring fees received (d) buying lemons
20. 20.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) paying the stall fee (d) a card order paid
21. 21.Ananya’s income was ₹220 and the profit was ₹30. One expense was ₹60 (transport). How much was the other expense, for posters (in ₹)?
22. 22.Which of these is an expense (money out)? (a) a card order paid (b) buying lemons (c) money from sales (d) cash from selling plants
23. 23.Ishaan’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹20 (sugar)
    Expense: ₹40 (ribbon)
    How much is the loss (in ₹)?
24. 24.True or false: “money from sales” is income (money in). (a) False (b) True
25. 25.Arjun’s stall took in ₹320 on Friday, ₹160 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
26. 26.📒 Income or expense: bus fare to the market? (a) income (b) expense
27. 27.📒 Income or expense: paying the stall fee? (a) expense (b) income
28. 28.📒 Income or expense: a card order paid? (a) income (b) expense
29. 29.Zoya’s stall took in ₹90 on Friday, ₹60 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
30. 30.Riya’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹160 (paper cups)
    Expense: ₹60 (posters)
    What is the profit (in ₹)?
31. 31.📒 Income or expense: tutoring fees received? (a) expense (b) income
32. 32.📒 Income or expense: buying lemons? (a) income (b) expense
33. 33.Meera’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹40 (card paper)
    Expense: ₹120 (ribbon)
    What is the profit (in ₹)?
34. 34.Diya’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹230 (ribbon)
    Expense: ₹160 (lemons)
    How much is the loss (in ₹)?
35. 35.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) bus fare to the market (d) payment for a cake order
36. 36.Zoya’s stall took in ₹330 on Friday, ₹60 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
37. 37.Gurpreet’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹20 (transport)
    Expense: ₹270 (sugar)
    How much is the loss (in ₹)?
38. 38.True or false: “printing posters” is income (money in). (a) True (b) False
39. 39.Kabir’s income was ₹440 and the profit was ₹60. One expense was ₹330 (posters). How much was the other expense, for lemons (in ₹)?
40. 40.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False

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