Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 479 · 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.True or false: “printing posters” is an expense (money out). (a) False (b) True
2. 2.Tara’s record for the day:
   Income: ₹230 (morning sales)
   Income: ₹210 (evening sales)
   Expense: ₹150 (lemons)
   Expense: ₹20 (stall fee)
   What is the profit (in ₹)?
3. 3.📒 Income or expense: printing posters? (a) expense (b) income
4. 4.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) bus fare to the market (d) money from sales
5. 5.📒 Income or expense: tutoring fees received? (a) income (b) expense
6. 6.Ananya’s record for the day:
   Income: ₹150 (morning sales)
   Income: ₹380 (evening sales)
   Expense: ₹200 (lemons)
   Expense: ₹30 (ribbon)
   What is the profit (in ₹)?
7. 7.True or false: “buying paper cups” is income (money in). (a) True (b) False
8. 8.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) only the bag (d) the bill or receipt
9. 9.Ananya’s record for the day:
   Income: ₹410 (morning sales)
   Income: ₹10 (evening sales)
   Expense: ₹170 (ribbon)
   Expense: ₹200 (transport)
   What is the profit (in ₹)?
10. 10.Which of these is income (money in)? (a) bus fare to the market (b) tutoring fees received (c) buying lemons (d) buying paper cups
11. 11.📒 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
12. 12.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
13. 13.📒 Income or expense: a card order paid? (a) expense (b) income
14. 14.True or false: “a card order paid” is an expense (money out). (a) False (b) True
15. 15.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) bus fare to the market (d) money from sales
16. 16.Tara’s stall took in ₹290 on Friday, ₹200 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
17. 17.Joseph’s record for the day:
    Income: ₹510 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹130 (lemons)
    Expense: ₹200 (paper cups)
    What is the profit (in ₹)?
18. 18.True or false: “paying the stall fee” is income (money in). (a) True (b) False
19. 19.Saanvi’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹70 (transport)
    Expense: ₹250 (lemons)
    How much is the loss (in ₹)?
20. 20.Kavya’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹160 (paper cups)
    Expense: ₹70 (posters)
    How much is the loss (in ₹)?
21. 21.Diya’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹20 (lemons)
    Expense: ₹90 (paper cups)
    What is the profit (in ₹)?
22. 22.📒 Income or expense: cash from selling plants? (a) income (b) expense
23. 23.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) printing posters (d) payment for a cake order
24. 24.Diya’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹90 (ribbon)
    What is the profit (in ₹)?
25. 25.True or false: “cash from selling plants” is income (money in). (a) False (b) True
26. 26.True or false: “printing posters” is income (money in). (a) True (b) False
27. 27.Saanvi’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹40 (posters)
    Expense: ₹160 (card paper)
    What is the profit (in ₹)?
28. 28.True or false: “a card order paid” is income (money in). (a) True (b) False
29. 29.Farhan’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹150 (stall fee)
    Expense: ₹140 (ribbon)
    What is the profit (in ₹)?
30. 30.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
31. 31.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) buying paper cups (d) cash from selling plants
32. 32.Rohan’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹30 (posters)
    Expense: ₹40 (card paper)
    How much is the loss (in ₹)?
33. 33.True or false: “money from sales” is an expense (money out). (a) True (b) False
34. 34.📅 When is the best time to update your records? (a) never (b) the same day (c) whenever you like (d) once a year
35. 35.Nisha’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹60 (sugar)
    Expense: ₹140 (paper cups)
    What is the profit (in ₹)?
36. 36.Vihaan’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹160 (stall fee)
    What is the profit (in ₹)?
37. 37.Diya’s stall took in ₹130 on Friday, ₹190 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
38. 38.Joseph’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹70 (card paper)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
39. 39.📒 Income or expense: money from sales? (a) income (b) expense
40. 40.Zoya’s record for the day:
    Income: ₹420 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹120 (ribbon)
    Expense: ₹190 (posters)
    What is the profit (in ₹)?

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