Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 516 · 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.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) a selfie (d) the bill or receipt
2. 2.Gurpreet’s income was ₹240 and the profit was ₹140. One expense was ₹30 (sugar). How much was the other expense, for stall fee (in ₹)?
3. 3.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
4. 4.Zoya’s stall took in ₹130 on Friday, ₹250 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
5. 5.True or false: “buying lemons” is income (money in). (a) True (b) False
6. 6.📒 Income or expense: bus fare to the market? (a) income (b) expense
7. 7.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) once a year (d) never
8. 8.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) to know the real profit (d) no reason
9. 9.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) cash from selling plants (d) paying the stall fee
10. 10.Ananya’s income was ₹160 and the profit was ₹50. One expense was ₹70 (paper cups). How much was the other expense, for lemons (in ₹)?
11. 11.Kavya’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹160 (transport)
    Expense: ₹110 (ribbon)
    What is the profit (in ₹)?
12. 12.Meera’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹150 (transport)
    Expense: ₹30 (lemons)
    What is the profit (in ₹)?
13. 13.True or false: “cash from selling plants” is income (money in). (a) False (b) True
14. 14.True or false: “buying lemons” is an expense (money out). (a) False (b) True
15. 15.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) buying paper cups (d) money from sales
16. 16.Riya’s record for the day:
    Income: ₹480 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹110 (lemons)
    Expense: ₹160 (stall fee)
    What is the profit (in ₹)?
17. 17.📒 Income or expense: a card order paid? (a) expense (b) income
18. 18.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) a card order paid (d) paying the stall fee
19. 19.Tara’s income was ₹320 and the profit was ₹130. One expense was ₹30 (paper cups). How much was the other expense, for transport (in ₹)?
20. 20.Which of these is an expense (money out)? (a) printing posters (b) a card order paid (c) payment for a cake order (d) tutoring fees received
21. 21.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) tutoring fees received (d) buying lemons
22. 22.True or false: “money from sales” is income (money in). (a) False (b) True
23. 23.📒 Income or expense: printing posters? (a) expense (b) income
24. 24.Which of these is an expense (money out)? (a) bus fare to the market (b) a card order paid (c) money from sales (d) payment for a cake order
25. 25.Lakshmi’s income was ₹260 and the profit was ₹90. One expense was ₹20 (paper cups). How much was the other expense, for sugar (in ₹)?
26. 26.Riya’s stall took in ₹310 on Friday, ₹370 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
27. 27.Arjun’s income was ₹160 and the profit was ₹40. One expense was ₹30 (paper cups). How much was the other expense, for posters (in ₹)?
28. 28.True or false: “buying paper cups” is income (money in). (a) False (b) True
29. 29.Rohan’s income was ₹180 and the profit was ₹50. One expense was ₹90 (stall fee). How much was the other expense, for lemons (in ₹)?
30. 30.Zoya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹50 (sugar)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?
31. 31.Diya’s stall took in ₹280 on Friday, ₹90 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
32. 32.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
33. 33.📒 Income or expense: payment for a cake order? (a) income (b) expense
34. 34.Aarav’s stall took in ₹320 on Friday, ₹250 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
35. 35.📒 Income or expense: buying lemons? (a) income (b) expense
36. 36.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) paying the stall fee (d) a card order paid
37. 37.Which of these is income (money in)? (a) payment for a cake order (b) buying paper cups (c) printing posters (d) bus fare to the market
38. 38.True or false: “a card order paid” is income (money in). (a) False (b) True
39. 39.Aarav’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹140 (sugar)
    Expense: ₹190 (transport)
    What is the profit (in ₹)?
40. 40.📒 Income or expense: tutoring fees received? (a) expense (b) income

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