Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 434 · 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 an expense (money out)? (a) cash from selling plants (b) money from sales (c) payment for a cake order (d) bus fare to the market
2. 2.📒 Income or expense: buying paper cups? (a) income (b) expense
3. 3.True or false: “bus fare to the market” is income (money in). (a) True (b) False
4. 4.True or false: “printing posters” is an expense (money out). (a) False (b) True
5. 5.Rohan’s record for the day:
   Income: ₹140 (morning sales)
   Income: ₹210 (evening sales)
   Expense: ₹20 (card paper)
   Expense: ₹160 (ribbon)
   What is the profit (in ₹)?
6. 6.True or false: “tutoring fees received” is income (money in). (a) False (b) True
7. 7.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
8. 8.Dev’s record for the day:
   Income: ₹50 (morning sales)
   Income: ₹440 (evening sales)
   Expense: ₹150 (lemons)
   Expense: ₹50 (sugar)
   What is the profit (in ₹)?
9. 9.📅 When is the best time to update your records? (a) once a year (b) never (c) whenever you like (d) the same day
10. 10.Diya’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹50 (lemons)
    Expense: ₹180 (stall fee)
    How much is the loss (in ₹)?
11. 11.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
12. 12.Gurpreet’s stall took in ₹70 on Friday, ₹70 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
13. 13.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
14. 14.📒 Income or expense: paying the stall fee? (a) income (b) expense
15. 15.Kavya’s income was ₹320 and the profit was ₹20. One expense was ₹140 (paper cups). How much was the other expense, for transport (in ₹)?
16. 16.Meera’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹40 (paper cups)
    Expense: ₹80 (card paper)
    How much is the loss (in ₹)?
17. 17.Which of these is an expense (money out)? (a) tutoring fees received (b) paying the stall fee (c) money from sales (d) payment for a cake order
18. 18.Saanvi’s income was ₹380 and the profit was ₹260. One expense was ₹60 (sugar). How much was the other expense, for ribbon (in ₹)?
19. 19.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) nothing (d) the bill or receipt
20. 20.Rohan’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹30 (ribbon)
    Expense: ₹80 (stall fee)
    How much is the loss (in ₹)?
21. 21.Kavya’s income was ₹480 and the profit was ₹100. One expense was ₹100 (ribbon). How much was the other expense, for paper cups (in ₹)?
22. 22.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
23. 23.Ananya’s stall took in ₹170 on Friday, ₹250 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
24. 24.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) a card order paid (d) buying lemons
25. 25.Vihaan’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹250 (lemons)
    Expense: ₹80 (stall fee)
    How much is the loss (in ₹)?
26. 26.Rohan’s stall took in ₹400 on Friday, ₹170 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
27. 27.True or false: “money from sales” is income (money in). (a) False (b) True
28. 28.📒 Income or expense: printing posters? (a) income (b) expense
29. 29.📒 Income or expense: a card order paid? (a) income (b) expense
30. 30.Riya’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹170 (lemons)
    Expense: ₹200 (sugar)
    What is the profit (in ₹)?
31. 31.📒 Income or expense: tutoring fees received? (a) expense (b) income
32. 32.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
33. 33.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) no reason (d) to look busy
34. 34.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
35. 35.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) buying lemons (d) payment for a cake order
36. 36.Rohan’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹100 (paper cups)
    Expense: ₹90 (card paper)
    What is the profit (in ₹)?
37. 37.Farhan’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹30 (stall fee)
    Expense: ₹150 (paper cups)
    What is the profit (in ₹)?
38. 38.📒 Income or expense: cash from selling plants? (a) income (b) expense
39. 39.Aarav’s stall took in ₹100 on Friday, ₹50 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
40. 40.Aarav’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹290 (paper cups)
    Expense: ₹20 (ribbon)
    How much is the loss (in ₹)?

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