Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 598 · 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 lemons (b) paying the stall fee (c) tutoring fees received (d) printing posters
2. 2.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) nothing (d) only the bag
3. 3.True or false: “payment for a cake order” is income (money in). (a) False (b) True
4. 4.True or false: “buying lemons” is an expense (money out). (a) False (b) True
5. 5.📒 Income or expense: buying paper cups? (a) income (b) expense
6. 6.📒 Income or expense: a card order paid? (a) expense (b) income
7. 7.Which of these is income (money in)? (a) cash from selling plants (b) bus fare to the market (c) buying paper cups (d) buying lemons
8. 8.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) to know the real profit (d) no reason
9. 9.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) printing posters (d) money from sales
10. 10.Tara’s stall took in ₹370 on Friday, ₹50 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
11. 11.Vihaan’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹110 (stall fee)
    Expense: ₹170 (sugar)
    How much is the loss (in ₹)?
12. 12.True or false: “buying paper cups” is income (money in). (a) False (b) True
13. 13.Joseph’s stall took in ₹380 on Friday, ₹340 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
14. 14.📒 Income or expense: bus fare to the market? (a) income (b) expense
15. 15.Joseph’s stall took in ₹280 on Friday, ₹140 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
16. 16.📒 Income or expense: paying the stall fee? (a) expense (b) income
17. 17.📒 Income or expense: buying lemons? (a) expense (b) income
18. 18.Farhan’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹170 (transport)
    Expense: ₹140 (paper cups)
    What is the profit (in ₹)?
19. 19.📒 Income or expense: printing posters? (a) expense (b) income
20. 20.Rohan’s stall took in ₹150 on Friday, ₹220 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
21. 21.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) bus fare to the market (d) payment for a cake order
22. 22.Ananya’s stall took in ₹240 on Friday, ₹290 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
23. 23.Ananya’s stall took in ₹250 on Friday, ₹120 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
24. 24.Kavya’s income was ₹340 and the profit was ₹170. One expense was ₹120 (transport). How much was the other expense, for ribbon (in ₹)?
25. 25.Nisha’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹60 (ribbon)
    Expense: ₹130 (paper cups)
    What is the profit (in ₹)?
26. 26.Dev’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹30 (transport)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
27. 27.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) never (d) the same day
28. 28.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
29. 29.Ananya’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹200 (paper cups)
    Expense: ₹80 (transport)
    What is the profit (in ₹)?
30. 30.Saanvi’s stall took in ₹230 on Friday, ₹90 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
31. 31.Riya’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹20 (card paper)
    Expense: ₹180 (paper cups)
    What is the profit (in ₹)?
32. 32.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) just the income (d) income + expenses
33. 33.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) buying paper cups (d) a card order paid
34. 34.Kavya’s stall took in ₹370 on Friday, ₹80 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
35. 35.True or false: “money from sales” is an expense (money out). (a) False (b) True
36. 36.Gurpreet’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹220 (sugar)
    Expense: ₹70 (ribbon)
    How much is the loss (in ₹)?
37. 37.📒 Income or expense: payment for a cake order? (a) income (b) expense
38. 38.Ishaan’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹30 (ribbon)
    Expense: ₹30 (card paper)
    What is the profit (in ₹)?
39. 39.Aarav’s stall took in ₹310 on Friday, ₹280 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
40. 40.Saanvi’s income was ₹370 and the profit was ₹350. One expense was ₹10 (paper cups). How much was the other expense, for ribbon (in ₹)?

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