Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 577 · 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.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) paying the stall fee (d) payment for a cake order
2. 2.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) only the bag (d) a selfie
3. 3.Rohan’s stall took in ₹290 on Friday, ₹130 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
4. 4.True or false: “payment for a cake order” is income (money in). (a) False (b) True
5. 5.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
6. 6.📒 Income or expense: printing posters? (a) income (b) expense
7. 7.➖ Profit in your records = (a) income − expenses (b) income + expenses (c) just the income (d) expenses − income
8. 8.Vihaan’s stall took in ₹50 on Friday, ₹150 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
9. 9.Joseph’s stall took in ₹190 on Friday, ₹250 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
10. 10.True or false: “bus fare to the market” is income (money in). (a) False (b) True
11. 11.Aarav’s stall took in ₹190 on Friday, ₹300 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
12. 12.Which of these is income (money in)? (a) tutoring fees received (b) buying lemons (c) bus fare to the market (d) paying the stall fee
13. 13.📒 Income or expense: money from sales? (a) income (b) expense
14. 14.Farhan’s stall took in ₹260 on Friday, ₹110 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
15. 15.Which of these is an expense (money out)? (a) bus fare to the market (b) payment for a cake order (c) a card order paid (d) tutoring fees received
16. 16.Aarav’s income was ₹210 and the profit was ₹50. One expense was ₹30 (sugar). How much was the other expense, for lemons (in ₹)?
17. 17.True or false: “buying lemons” is income (money in). (a) True (b) False
18. 18.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to know the real profit (d) to fill a notebook
19. 19.Arjun’s stall took in ₹360 on Friday, ₹140 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
20. 20.Which of these is income (money in)? (a) cash from selling plants (b) buying lemons (c) paying the stall fee (d) bus fare to the market
21. 21.True or false: “printing posters” is income (money in). (a) False (b) True
22. 22.Diya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹460 (evening sales)
    Expense: ₹200 (lemons)
    Expense: ₹50 (card paper)
    What is the profit (in ₹)?
23. 23.📒 Income or expense: paying the stall fee? (a) expense (b) income
24. 24.Aarav’s income was ₹350 and the profit was ₹40. One expense was ₹210 (sugar). How much was the other expense, for transport (in ₹)?
25. 25.Nisha’s income was ₹200 and the profit was ₹80. One expense was ₹60 (posters). How much was the other expense, for paper cups (in ₹)?
26. 26.Saanvi’s income was ₹320 and the profit was ₹140. One expense was ₹170 (stall fee). How much was the other expense, for ribbon (in ₹)?
27. 27.Aarav’s record for the day:
    Income: ₹380 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹160 (transport)
    Expense: ₹50 (sugar)
    What is the profit (in ₹)?
28. 28.Joseph’s stall took in ₹290 on Friday, ₹80 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
29. 29.Saanvi’s stall took in ₹220 on Friday, ₹110 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
30. 30.📒 Income or expense: tutoring fees received? (a) expense (b) income
31. 31.Zoya’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹120 (transport)
    Expense: ₹120 (lemons)
    What is the profit (in ₹)?
32. 32.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
33. 33.Zoya’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹170 (paper cups)
    Expense: ₹40 (transport)
    What is the profit (in ₹)?
34. 34.True or false: “a card order paid” is income (money in). (a) False (b) True
35. 35.Which of these is an expense (money out)? (a) buying lemons (b) a card order paid (c) cash from selling plants (d) money from sales
36. 36.📒 Income or expense: buying lemons? (a) expense (b) income
37. 37.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
38. 38.Ishaan’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹130 (sugar)
    Expense: ₹60 (transport)
    What is the profit (in ₹)?
39. 39.📒 Income or expense: a card order paid? (a) expense (b) income
40. 40.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False

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