Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 576 · 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: tutoring fees received? (a) expense (b) income
2. 2.Joseph’s record for the day:
   Income: ₹120 (morning sales)
   Income: ₹370 (evening sales)
   Expense: ₹90 (card paper)
   Expense: ₹160 (transport)
   What is the profit (in ₹)?
3. 3.Which of these is income (money in)? (a) buying paper cups (b) payment for a cake order (c) buying lemons (d) paying the stall fee
4. 4.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) printing posters (d) cash from selling plants
5. 5.Tara’s stall took in ₹190 on Friday, ₹320 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
6. 6.True or false: “money from sales” is an expense (money out). (a) True (b) False
7. 7.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
8. 8.➖ Profit in your records = (a) income − expenses (b) income + expenses (c) just the income (d) expenses − income
9. 9.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) money from sales (d) buying paper cups
10. 10.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) a selfie (d) the bill or receipt
11. 11.Rohan’s stall took in ₹310 on Friday, ₹60 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
12. 12.📒 Income or expense: buying paper cups? (a) expense (b) income
13. 13.True or false: “tutoring fees received” is income (money in). (a) False (b) True
14. 14.Zoya’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹140 (transport)
    Expense: ₹30 (card paper)
    What is the profit (in ₹)?
15. 15.📒 Income or expense: bus fare to the market? (a) income (b) expense
16. 16.True or false: “buying lemons” is an expense (money out). (a) True (b) False
17. 17.📅 When is the best time to update your records? (a) whenever you like (b) never (c) the same day (d) once a year
18. 18.📒 Income or expense: paying the stall fee? (a) expense (b) income
19. 19.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
20. 20.True or false: “payment for a cake order” is income (money in). (a) True (b) False
21. 21.📒 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
22. 22.Rohan’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹450 (evening sales)
    Expense: ₹180 (posters)
    Expense: ₹50 (ribbon)
    What is the profit (in ₹)?
23. 23.Which of these is an expense (money out)? (a) bus fare to the market (b) cash from selling plants (c) tutoring fees received (d) money from sales
24. 24.Gurpreet’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹140 (paper cups)
    Expense: ₹80 (card paper)
    What is the profit (in ₹)?
25. 25.Farhan’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹200 (card paper)
    Expense: ₹30 (stall fee)
    How much is the loss (in ₹)?
26. 26.Kavya’s stall took in ₹170 on Friday, ₹400 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
27. 27.📒 Income or expense: money from sales? (a) expense (b) income
28. 28.Dev’s income was ₹360 and the profit was ₹160. One expense was ₹100 (sugar). How much was the other expense, for lemons (in ₹)?
29. 29.📒 Income or expense: printing posters? (a) expense (b) income
30. 30.True or false: “cash from selling plants” is income (money in). (a) True (b) False
31. 31.Diya’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹60 (card paper)
    Expense: ₹80 (posters)
    How much is the loss (in ₹)?
32. 32.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
33. 33.Arjun’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹150 (ribbon)
    Expense: ₹20 (card paper)
    What is the profit (in ₹)?
34. 34.Ananya’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹80 (transport)
    Expense: ₹300 (posters)
    How much is the loss (in ₹)?
35. 35.Ishaan’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹180 (stall fee)
    Expense: ₹80 (card paper)
    How much is the loss (in ₹)?
36. 36.True or false: “buying lemons” is income (money in). (a) False (b) True
37. 37.📒 Income or expense: a card order paid? (a) income (b) expense
38. 38.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) money from sales (d) buying paper cups
39. 39.Dev’s stall took in ₹390 on Friday, ₹390 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
40. 40.True or false: “a card order paid” is income (money in). (a) True (b) False

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