Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 603 · 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: “tutoring fees received” is income (money in). (a) False (b) True
2. 2.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) a selfie (d) the bill or receipt
3. 3.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) never (d) once a year
4. 4.📒 Income or expense: money from sales? (a) expense (b) income
5. 5.Tara’s record for a rainy day:
   Income: ₹60 (sales)
   Expense: ₹50 (stall fee)
   Expense: ₹100 (card paper)
   How much is the loss (in ₹)?
6. 6.Kavya’s record for the day:
   Income: ₹240 (morning sales)
   Income: ₹120 (evening sales)
   Expense: ₹20 (ribbon)
   Expense: ₹120 (posters)
   What is the profit (in ₹)?
7. 7.Farhan’s income was ₹220 and the profit was ₹90. One expense was ₹50 (paper cups). How much was the other expense, for stall fee (in ₹)?
8. 8.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) printing posters (d) payment for a cake order
9. 9.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
10. 10.Zoya’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹40 (stall fee)
    What is the profit (in ₹)?
11. 11.Which of these is an expense (money out)? (a) buying lemons (b) cash from selling plants (c) tutoring fees received (d) a card order paid
12. 12.Ishaan’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹90 (paper cups)
    Expense: ₹40 (card paper)
    What is the profit (in ₹)?
13. 13.Which of these is an expense (money out)? (a) cash from selling plants (b) printing posters (c) a card order paid (d) payment for a cake order
14. 14.Joseph’s stall took in ₹400 on Friday, ₹360 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
15. 15.True or false: “bus fare to the market” is income (money in). (a) False (b) True
16. 16.Kabir’s income was ₹460 and the profit was ₹380. One expense was ₹50 (card paper). How much was the other expense, for lemons (in ₹)?
17. 17.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
18. 18.True or false: “money from sales” is income (money in). (a) False (b) True
19. 19.Which of these is income (money in)? (a) printing posters (b) cash from selling plants (c) buying lemons (d) buying paper cups
20. 20.Ananya’s stall took in ₹220 on Friday, ₹230 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
21. 21.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
22. 22.Vihaan’s income was ₹100 and the profit was ₹30. One expense was ₹40 (transport). How much was the other expense, for paper cups (in ₹)?
23. 23.📒 Income or expense: printing posters? (a) income (b) expense
24. 24.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
25. 25.📒 Income or expense: a card order paid? (a) expense (b) income
26. 26.📒 Income or expense: buying paper cups? (a) expense (b) income
27. 27.True or false: “printing posters” is income (money in). (a) True (b) False
28. 28.📒 Income or expense: cash from selling plants? (a) expense (b) income
29. 29.Which of these is income (money in)? (a) buying paper cups (b) a card order paid (c) bus fare to the market (d) buying lemons
30. 30.True or false: “printing posters” is an expense (money out). (a) False (b) True
31. 31.Dev’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹100 (ribbon)
    Expense: ₹200 (sugar)
    What is the profit (in ₹)?
32. 32.Ananya’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹90 (paper cups)
    Expense: ₹150 (transport)
    What is the profit (in ₹)?
33. 33.📒 Income or expense: paying the stall fee? (a) income (b) expense
34. 34.Diya’s record for the day:
    Income: ₹380 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹200 (sugar)
    Expense: ₹140 (card paper)
    What is the profit (in ₹)?
35. 35.📒 Income or expense: tutoring fees received? (a) expense (b) income
36. 36.Zoya’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹200 (ribbon)
    Expense: ₹70 (paper cups)
    How much is the loss (in ₹)?
37. 37.Dev’s income was ₹160 and the profit was ₹140. One expense was ₹10 (paper cups). How much was the other expense, for ribbon (in ₹)?
38. 38.Lakshmi’s income was ₹470 and the profit was ₹80. One expense was ₹240 (stall fee). How much was the other expense, for sugar (in ₹)?
39. 39.Kabir’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹10 (sugar)
    Expense: ₹100 (lemons)
    How much is the loss (in ₹)?
40. 40.📒 Income or expense: payment for a cake order? (a) income (b) expense

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