Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 58 · 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) income (b) expense
2. 2.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) payment for a cake order (d) bus fare to the market
3. 3.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) to fill a notebook (d) no reason
4. 4.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
5. 5.Nisha’s record for the day:
   Income: ₹50 (morning sales)
   Income: ₹420 (evening sales)
   Expense: ₹180 (sugar)
   Expense: ₹90 (transport)
   What is the profit (in ₹)?
6. 6.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
7. 7.Aarav’s income was ₹270 and the profit was ₹140. One expense was ₹70 (paper cups). How much was the other expense, for stall fee (in ₹)?
8. 8.📒 Income or expense: printing posters? (a) income (b) expense
9. 9.Diya’s record for the day:
   Income: ₹70 (morning sales)
   Income: ₹370 (evening sales)
   Expense: ₹50 (paper cups)
   Expense: ₹180 (stall fee)
   What is the profit (in ₹)?
10. 10.📒 Income or expense: a card order paid? (a) income (b) expense
11. 11.Which of these is an expense (money out)? (a) buying lemons (b) a card order paid (c) money from sales (d) tutoring fees received
12. 12.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) payment for a cake order (d) printing posters
13. 13.True or false: “buying paper cups” is income (money in). (a) True (b) False
14. 14.True or false: “a card order paid” is income (money in). (a) True (b) False
15. 15.Kavya’s stall took in ₹100 on Friday, ₹360 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
16. 16.Gurpreet’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹40 (transport)
    Expense: ₹130 (paper cups)
    What is the profit (in ₹)?
17. 17.Which of these is income (money in)? (a) bus fare to the market (b) cash from selling plants (c) paying the stall fee (d) printing posters
18. 18.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) tutoring fees received (d) printing posters
19. 19.Which of these is income (money in)? (a) money from sales (b) printing posters (c) buying lemons (d) bus fare to the market
20. 20.📒 Income or expense: cash from selling plants? (a) income (b) expense
21. 21.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) printing posters (d) a card order paid
22. 22.Which of these is an expense (money out)? (a) payment for a cake order (b) printing posters (c) money from sales (d) tutoring fees received
23. 23.Saanvi’s stall took in ₹130 on Friday, ₹60 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
24. 24.True or false: “tutoring fees received” is income (money in). (a) True (b) False
25. 25.True or false: “bus fare to the market” is income (money in). (a) False (b) True
26. 26.Riya’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹140 (posters)
    Expense: ₹110 (sugar)
    How much is the loss (in ₹)?
27. 27.Lakshmi’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹130 (stall fee)
    Expense: ₹180 (ribbon)
    What is the profit (in ₹)?
28. 28.Ananya’s stall took in ₹60 on Friday, ₹110 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
29. 29.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
30. 30.Aarav’s income was ₹270 and the profit was ₹60. One expense was ₹50 (lemons). How much was the other expense, for transport (in ₹)?
31. 31.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) the bill or receipt (d) nothing
32. 32.📒 Income or expense: paying the stall fee? (a) income (b) expense
33. 33.➖ Profit in your records = (a) just the income (b) income + expenses (c) expenses − income (d) income − expenses
34. 34.📅 When is the best time to update your records? (a) the same day (b) once a year (c) whenever you like (d) never
35. 35.True or false: “printing posters” is an expense (money out). (a) False (b) True
36. 36.Dev’s income was ₹240 and the profit was ₹10. One expense was ₹10 (sugar). How much was the other expense, for card paper (in ₹)?
37. 37.Farhan’s income was ₹310 and the profit was ₹110. One expense was ₹110 (card paper). How much was the other expense, for ribbon (in ₹)?
38. 38.Aarav’s stall took in ₹140 on Friday, ₹90 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
39. 39.Zoya’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹40 (lemons)
    Expense: ₹50 (ribbon)
    What is the profit (in ₹)?
40. 40.True or false: “paying the stall fee” is income (money in). (a) True (b) False

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