Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 556 · 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.True or false: “payment for a cake order” is income (money in). (a) False (b) True
3. 3.Kabir’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹40 (stall fee)
   Expense: ₹110 (paper cups)
   How much is the loss (in ₹)?
4. 4.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) tutoring fees received (d) bus fare to the market
5. 5.📒 Income or expense: paying the stall fee? (a) expense (b) income
6. 6.Ananya’s stall took in ₹140 on Friday, ₹190 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
7. 7.Arjun’s income was ₹360 and the profit was ₹60. One expense was ₹220 (paper cups). How much was the other expense, for sugar (in ₹)?
8. 8.📒 Income or expense: cash from selling plants? (a) expense (b) income
9. 9.Which of these is an expense (money out)? (a) buying paper cups (b) cash from selling plants (c) a card order paid (d) money from sales
10. 10.True or false: “bus fare to the market” is income (money in). (a) True (b) False
11. 11.Meera’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹110 (sugar)
    Expense: ₹50 (lemons)
    How much is the loss (in ₹)?
12. 12.True or false: “buying paper cups” is income (money in). (a) False (b) True
13. 13.True or false: “cash from selling plants” is income (money in). (a) True (b) False
14. 14.Ananya’s income was ₹210 and the profit was ₹40. One expense was ₹160 (lemons). How much was the other expense, for paper cups (in ₹)?
15. 15.📅 When is the best time to update your records? (a) once a year (b) the same day (c) whenever you like (d) never
16. 16.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) money from sales (d) buying lemons
17. 17.Meera’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹140 (lemons)
    Expense: ₹80 (card paper)
    What is the profit (in ₹)?
18. 18.True or false: “tutoring fees received” is income (money in). (a) False (b) True
19. 19.📒 Income or expense: a card order paid? (a) income (b) expense
20. 20.Meera’s income was ₹440 and the profit was ₹300. One expense was ₹70 (sugar). How much was the other expense, for posters (in ₹)?
21. 21.➖ Profit in your records = (a) just the income (b) expenses − income (c) income − expenses (d) income + expenses
22. 22.Which of these is an expense (money out)? (a) paying the stall fee (b) payment for a cake order (c) tutoring fees received (d) money from sales
23. 23.Saanvi’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹60 (posters)
    Expense: ₹50 (stall fee)
    What is the profit (in ₹)?
24. 24.True or false: “a card order paid” is an expense (money out). (a) True (b) False
25. 25.Riya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹190 (posters)
    Expense: ₹70 (card paper)
    What is the profit (in ₹)?
26. 26.📒 Income or expense: printing posters? (a) expense (b) income
27. 27.Aarav’s stall took in ₹60 on Friday, ₹330 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
28. 28.📒 Income or expense: bus fare to the market? (a) expense (b) income
29. 29.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) printing posters (d) cash from selling plants
30. 30.📒 Income or expense: tutoring fees received? (a) income (b) expense
31. 31.Dev’s income was ₹290 and the profit was ₹200. One expense was ₹70 (lemons). How much was the other expense, for card paper (in ₹)?
32. 32.Which of these is income (money in)? (a) payment for a cake order (b) paying the stall fee (c) printing posters (d) bus fare to the market
33. 33.Kabir’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹110 (sugar)
    Expense: ₹90 (stall fee)
    What is the profit (in ₹)?
34. 34.Farhan’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹300 (stall fee)
    Expense: ₹10 (posters)
    How much is the loss (in ₹)?
35. 35.Gurpreet’s income was ₹480 and the profit was ₹360. One expense was ₹50 (paper cups). How much was the other expense, for stall fee (in ₹)?
36. 36.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) the bill or receipt (d) nothing
37. 37.Lakshmi’s stall took in ₹190 on Friday, ₹400 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
38. 38.Which of these is income (money in)? (a) bus fare to the market (b) a card order paid (c) paying the stall fee (d) printing posters
39. 39.Vihaan’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹60 (ribbon)
    Expense: ₹90 (sugar)
    What is the profit (in ₹)?
40. 40.True or false: “a card order paid” is income (money in). (a) False (b) True

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