Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 460 · 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.Which of these is income (money in)? (a) paying the stall fee (b) payment for a cake order (c) buying paper cups (d) bus fare to the market
3. 3.➖ Profit in your records = (a) income + expenses (b) just the income (c) income − expenses (d) expenses − income
4. 4.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) only the bag (d) nothing
5. 5.Vihaan’s stall took in ₹70 on Friday, ₹230 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
6. 6.True or false: “a card order paid” is income (money in). (a) True (b) False
7. 7.Meera’s income was ₹130 and the profit was ₹10. One expense was ₹100 (stall fee). How much was the other expense, for sugar (in ₹)?
8. 8.📅 When is the best time to update your records? (a) whenever you like (b) never (c) once a year (d) the same day
9. 9.Ananya’s record for the day:
   Income: ₹150 (morning sales)
   Income: ₹330 (evening sales)
   Expense: ₹90 (transport)
   Expense: ₹100 (ribbon)
   What is the profit (in ₹)?
10. 10.📒 Income or expense: tutoring fees received? (a) income (b) expense
11. 11.Meera’s income was ₹350 and the profit was ₹270. One expense was ₹60 (paper cups). How much was the other expense, for transport (in ₹)?
12. 12.Kabir’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹290 (ribbon)
    Expense: ₹30 (card paper)
    How much is the loss (in ₹)?
13. 13.True or false: “tutoring fees received” is income (money in). (a) False (b) True
14. 14.Which of these is an expense (money out)? (a) paying the stall fee (b) money from sales (c) cash from selling plants (d) tutoring fees received
15. 15.Which of these is income (money in)? (a) cash from selling plants (b) buying paper cups (c) buying lemons (d) printing posters
16. 16.Which of these is income (money in)? (a) a card order paid (b) buying paper cups (c) bus fare to the market (d) printing posters
17. 17.📒 Income or expense: money from sales? (a) income (b) expense
18. 18.Arjun’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹170 (ribbon)
    Expense: ₹50 (posters)
    What is the profit (in ₹)?
19. 19.Ananya’s stall took in ₹350 on Friday, ₹240 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
20. 20.Which of these is an expense (money out)? (a) printing posters (b) money from sales (c) a card order paid (d) payment for a cake order
21. 21.Which of these is income (money in)? (a) money from sales (b) printing posters (c) buying lemons (d) buying paper cups
22. 22.Gurpreet’s stall took in ₹190 on Friday, ₹60 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
23. 23.True or false: “cash from selling plants” is income (money in). (a) True (b) False
24. 24.Meera’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹270 (paper cups)
    Expense: ₹10 (lemons)
    How much is the loss (in ₹)?
25. 25.True or false: “a card order paid” is an expense (money out). (a) False (b) True
26. 26.True or false: “payment for a cake order” is income (money in). (a) True (b) False
27. 27.Kabir’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹50 (posters)
    Expense: ₹160 (paper cups)
    How much is the loss (in ₹)?
28. 28.Rohan’s income was ₹150 and the profit was ₹50. One expense was ₹40 (paper cups). How much was the other expense, for card paper (in ₹)?
29. 29.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) to know the real profit (d) no reason
30. 30.Aarav’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹170 (sugar)
    Expense: ₹170 (card paper)
    What is the profit (in ₹)?
31. 31.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) buying paper cups (d) payment for a cake order
32. 32.📒 Income or expense: payment for a cake order? (a) income (b) expense
33. 33.📒 Income or expense: cash from selling plants? (a) expense (b) income
34. 34.Gurpreet’s stall took in ₹390 on Friday, ₹280 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
35. 35.Dev’s income was ₹320 and the profit was ₹40. One expense was ₹220 (sugar). How much was the other expense, for transport (in ₹)?
36. 36.Farhan’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹110 (ribbon)
    Expense: ₹40 (card paper)
    What is the profit (in ₹)?
37. 37.Arjun’s stall took in ₹70 on Friday, ₹80 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
38. 38.True or false: “buying lemons” is income (money in). (a) False (b) True
39. 39.Tara’s income was ₹240 and the profit was ₹40. One expense was ₹100 (posters). How much was the other expense, for card paper (in ₹)?
40. 40.Tara’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹50 (stall fee)
    Expense: ₹50 (posters)
    What is the profit (in ₹)?

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