Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 433 · 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: paying the stall fee? (a) income (b) expense
2. 2.📒 Income or expense: printing posters? (a) income (b) expense
3. 3.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
4. 4.📒 Income or expense: money from sales? (a) expense (b) income
5. 5.True or false: “printing posters” is income (money in). (a) True (b) False
6. 6.Meera’s record for the day:
   Income: ₹210 (morning sales)
   Income: ₹100 (evening sales)
   Expense: ₹140 (ribbon)
   Expense: ₹110 (card paper)
   What is the profit (in ₹)?
7. 7.📒 Income or expense: buying paper cups? (a) expense (b) income
8. 8.Joseph’s record for the day:
   Income: ₹80 (morning sales)
   Income: ₹70 (evening sales)
   Expense: ₹80 (card paper)
   Expense: ₹50 (ribbon)
   What is the profit (in ₹)?
9. 9.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to know the real profit (d) to fill a notebook
10. 10.📅 When is the best time to update your records? (a) the same day (b) once a year (c) whenever you like (d) never
11. 11.Which of these is an expense (money out)? (a) money from sales (b) bus fare to the market (c) cash from selling plants (d) a card order paid
12. 12.Rohan’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹150 (lemons)
    What is the profit (in ₹)?
13. 13.Kabir’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹140 (posters)
    Expense: ₹30 (lemons)
    How much is the loss (in ₹)?
14. 14.📒 Income or expense: cash from selling plants? (a) expense (b) income
15. 15.Farhan’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹120 (stall fee)
    Expense: ₹170 (posters)
    What is the profit (in ₹)?
16. 16.📒 Income or expense: bus fare to the market? (a) income (b) expense
17. 17.True or false: “a card order paid” is an expense (money out). (a) False (b) True
18. 18.Kavya’s income was ₹320 and the profit was ₹280. One expense was ₹10 (paper cups). How much was the other expense, for transport (in ₹)?
19. 19.Arjun’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹90 (lemons)
    Expense: ₹140 (ribbon)
    What is the profit (in ₹)?
20. 20.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) paying the stall fee (d) cash from selling plants
21. 21.Ishaan’s income was ₹120 and the profit was ₹90. One expense was ₹20 (stall fee). How much was the other expense, for lemons (in ₹)?
22. 22.True or false: “money from sales” is an expense (money out). (a) True (b) False
23. 23.Meera’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹70 (paper cups)
    Expense: ₹120 (lemons)
    What is the profit (in ₹)?
24. 24.Which of these is an expense (money out)? (a) buying lemons (b) cash from selling plants (c) a card order paid (d) payment for a cake order
25. 25.True or false: “cash from selling plants” is income (money in). (a) False (b) True
26. 26.📒 Income or expense: a card order paid? (a) expense (b) income
27. 27.Which of these is income (money in)? (a) buying paper cups (b) a card order paid (c) paying the stall fee (d) buying lemons
28. 28.➖ Profit in your records = (a) just the income (b) income − expenses (c) expenses − income (d) income + expenses
29. 29.True or false: “buying paper cups” is income (money in). (a) True (b) False
30. 30.Ishaan’s income was ₹250 and the profit was ₹60. One expense was ₹150 (posters). How much was the other expense, for sugar (in ₹)?
31. 31.True or false: “payment for a cake order” is income (money in). (a) True (b) False
32. 32.Farhan’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹240 (ribbon)
    Expense: ₹80 (card paper)
    How much is the loss (in ₹)?
33. 33.Nisha’s income was ₹460 and the profit was ₹110. One expense was ₹260 (transport). How much was the other expense, for sugar (in ₹)?
34. 34.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
35. 35.Ananya’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹90 (lemons)
    Expense: ₹20 (card paper)
    How much is the loss (in ₹)?
36. 36.Which of these is an expense (money out)? (a) buying paper cups (b) a card order paid (c) cash from selling plants (d) payment for a cake order
37. 37.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) printing posters (d) tutoring fees received
38. 38.Aarav’s income was ₹120 and the profit was ₹10. One expense was ₹80 (lemons). How much was the other expense, for stall fee (in ₹)?
39. 39.Rohan’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹80 (posters)
    Expense: ₹150 (sugar)
    How much is the loss (in ₹)?
40. 40.Ananya’s income was ₹420 and the profit was ₹240. One expense was ₹70 (sugar). How much was the other expense, for lemons (in ₹)?

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