Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 610 · 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: paying the stall fee? (a) expense (b) income
2. 2.True or false: “printing posters” is income (money in). (a) False (b) True
3. 3.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to look busy (d) to know the real profit
4. 4.Rohan’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹430 (evening sales)
   Expense: ₹70 (lemons)
   Expense: ₹150 (ribbon)
   What is the profit (in ₹)?
5. 5.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) printing posters (d) tutoring fees received
6. 6.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) income − expenses (d) just the income
7. 7.📒 Income or expense: a card order paid? (a) expense (b) income
8. 8.Which of these is an expense (money out)? (a) bus fare to the market (b) a card order paid (c) money from sales (d) cash from selling plants
9. 9.Which of these is income (money in)? (a) buying lemons (b) money from sales (c) buying paper cups (d) paying the stall fee
10. 10.Gurpreet’s stall took in ₹90 on Friday, ₹220 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
11. 11.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) buying paper cups (d) tutoring fees received
12. 12.Meera’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹170 (stall fee)
    Expense: ₹20 (transport)
    What is the profit (in ₹)?
13. 13.Rohan’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹20 (paper cups)
    Expense: ₹170 (ribbon)
    What is the profit (in ₹)?
14. 14.Which of these is income (money in)? (a) buying lemons (b) cash from selling plants (c) printing posters (d) buying paper cups
15. 15.Lakshmi’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹60 (paper cups)
    Expense: ₹20 (stall fee)
    How much is the loss (in ₹)?
16. 16.📒 Income or expense: tutoring fees received? (a) expense (b) income
17. 17.📒 Income or expense: buying paper cups? (a) expense (b) income
18. 18.Rohan’s stall took in ₹210 on Friday, ₹330 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
19. 19.📒 Income or expense: buying lemons? (a) income (b) expense
20. 20.Tara’s stall took in ₹120 on Friday, ₹390 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
21. 21.Meera’s income was ₹270 and the profit was ₹30. One expense was ₹190 (paper cups). How much was the other expense, for stall fee (in ₹)?
22. 22.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) never (d) once a year
23. 23.📒 Income or expense: cash from selling plants? (a) expense (b) income
24. 24.True or false: “buying lemons” is income (money in). (a) False (b) True
25. 25.📒 Income or expense: money from sales? (a) income (b) expense
26. 26.Joseph’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹190 (stall fee)
    Expense: ₹40 (lemons)
    What is the profit (in ₹)?
27. 27.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) money from sales (d) buying lemons
28. 28.True or false: “printing posters” is an expense (money out). (a) False (b) True
29. 29.True or false: “tutoring fees received” is income (money in). (a) True (b) False
30. 30.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) buying paper cups (d) payment for a cake order
31. 31.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) the bill or receipt (d) a selfie
32. 32.📒 Income or expense: payment for a cake order? (a) expense (b) income
33. 33.Zoya’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹100 (transport)
    Expense: ₹160 (card paper)
    What is the profit (in ₹)?
34. 34.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
35. 35.Meera’s income was ₹270 and the profit was ₹60. One expense was ₹130 (posters). How much was the other expense, for stall fee (in ₹)?
36. 36.Aarav’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹30 (transport)
    Expense: ₹130 (sugar)
    How much is the loss (in ₹)?
37. 37.Arjun’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹190 (posters)
    What is the profit (in ₹)?
38. 38.Which of these is an expense (money out)? (a) a card order paid (b) paying the stall fee (c) tutoring fees received (d) money from sales
39. 39.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) a card order paid (d) buying paper cups
40. 40.Dev’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹20 (posters)
    Expense: ₹190 (stall fee)
    What is the profit (in ₹)?

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