Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 444 · 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) expense (b) income
2. 2.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to look busy (d) to know the real profit
3. 3.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) never (d) once a year
4. 4.Zoya’s record for the day:
   Income: ₹60 (morning sales)
   Income: ₹290 (evening sales)
   Expense: ₹180 (sugar)
   Expense: ₹100 (stall fee)
   What is the profit (in ₹)?
5. 5.True or false: “paying the stall fee” is income (money in). (a) True (b) False
6. 6.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) a card order paid (d) paying the stall fee
7. 7.Which of these is an expense (money out)? (a) payment for a cake order (b) buying paper cups (c) money from sales (d) a card order paid
8. 8.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) payment for a cake order (d) buying lemons
9. 9.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) nothing (d) a selfie
10. 10.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) printing posters (d) payment for a cake order
11. 11.Aarav’s stall took in ₹120 on Friday, ₹130 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
12. 12.Joseph’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹180 (ribbon)
    Expense: ₹160 (card paper)
    How much is the loss (in ₹)?
13. 13.➖ Profit in your records = (a) income + expenses (b) just the income (c) income − expenses (d) expenses − income
14. 14.Joseph’s stall took in ₹90 on Friday, ₹300 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
15. 15.Aarav’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹80 (lemons)
    Expense: ₹90 (sugar)
    What is the profit (in ₹)?
16. 16.True or false: “bus fare to the market” is income (money in). (a) True (b) False
17. 17.📒 Income or expense: cash from selling plants? (a) income (b) expense
18. 18.📒 Income or expense: bus fare to the market? (a) income (b) expense
19. 19.Ishaan’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹20 (ribbon)
    Expense: ₹180 (transport)
    How much is the loss (in ₹)?
20. 20.📒 Income or expense: buying lemons? (a) income (b) expense
21. 21.True or false: “a card order paid” is income (money in). (a) True (b) False
22. 22.Ishaan’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹70 (ribbon)
    Expense: ₹150 (card paper)
    What is the profit (in ₹)?
23. 23.True or false: “money from sales” is an expense (money out). (a) True (b) False
24. 24.True or false: “a card order paid” is an expense (money out). (a) False (b) True
25. 25.Kavya’s income was ₹270 and the profit was ₹250. One expense was ₹10 (stall fee). How much was the other expense, for transport (in ₹)?
26. 26.True or false: “cash from selling plants” is income (money in). (a) False (b) True
27. 27.Which of these is an expense (money out)? (a) money from sales (b) buying lemons (c) payment for a cake order (d) tutoring fees received
28. 28.Aarav’s stall took in ₹110 on Friday, ₹220 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
29. 29.Farhan’s income was ₹290 and the profit was ₹210. One expense was ₹10 (paper cups). How much was the other expense, for posters (in ₹)?
30. 30.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) bus fare to the market (d) cash from selling plants
31. 31.Kavya’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹170 (posters)
    Expense: ₹20 (ribbon)
    What is the profit (in ₹)?
32. 32.Which of these is income (money in)? (a) buying lemons (b) tutoring fees received (c) printing posters (d) bus fare to the market
33. 33.Nisha’s stall took in ₹280 on Friday, ₹160 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
34. 34.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) buying paper cups (d) cash from selling plants
35. 35.Rohan’s stall took in ₹390 on Friday, ₹320 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
36. 36.True or false: “printing posters” is income (money in). (a) True (b) False
37. 37.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
38. 38.True or false: “money from sales” is income (money in). (a) False (b) True
39. 39.Ananya’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹10 (lemons)
    Expense: ₹170 (stall fee)
    How much is the loss (in ₹)?
40. 40.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False

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