Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 612 · 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: “a card order paid” is an expense (money out). (a) True (b) False
2. 2.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) a selfie (d) the bill or receipt
3. 3.📒 Income or expense: buying lemons? (a) expense (b) income
4. 4.Zoya’s record for the day:
   Income: ₹240 (morning sales)
   Income: ₹340 (evening sales)
   Expense: ₹180 (transport)
   Expense: ₹180 (paper cups)
   What is the profit (in ₹)?
5. 5.📒 Income or expense: buying paper cups? (a) expense (b) income
6. 6.Gurpreet’s income was ₹500 and the profit was ₹300. One expense was ₹80 (lemons). How much was the other expense, for card paper (in ₹)?
7. 7.Kabir’s record for a rainy day:
   Income: ₹70 (sales)
   Expense: ₹30 (paper cups)
   Expense: ₹50 (posters)
   How much is the loss (in ₹)?
8. 8.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) money from sales (d) paying the stall fee
9. 9.True or false: “bus fare to the market” is income (money in). (a) False (b) True
10. 10.📒 Income or expense: cash from selling plants? (a) expense (b) income
11. 11.Zoya’s record for the day:
    Income: ₹440 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹150 (lemons)
    Expense: ₹180 (card paper)
    What is the profit (in ₹)?
12. 12.Dev’s stall took in ₹350 on Friday, ₹210 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
13. 13.True or false: “buying paper cups” is income (money in). (a) True (b) False
14. 14.Diya’s stall took in ₹190 on Friday, ₹360 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
15. 15.Dev’s record for the day:
    Income: ₹430 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹20 (posters)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
16. 16.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to know the real profit (d) to fill a notebook
17. 17.Meera’s income was ₹380 and the profit was ₹310. One expense was ₹50 (ribbon). How much was the other expense, for paper cups (in ₹)?
18. 18.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) buying paper cups (d) tutoring fees received
19. 19.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) just the income (d) income + expenses
20. 20.Kabir’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹80 (posters)
    Expense: ₹30 (lemons)
    What is the profit (in ₹)?
21. 21.Ishaan’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹190 (stall fee)
    Expense: ₹80 (posters)
    How much is the loss (in ₹)?
22. 22.Tara’s income was ₹210 and the profit was ₹90. One expense was ₹20 (lemons). How much was the other expense, for sugar (in ₹)?
23. 23.True or false: “buying lemons” is income (money in). (a) False (b) True
24. 24.📅 When is the best time to update your records? (a) once a year (b) never (c) whenever you like (d) the same day
25. 25.Kabir’s income was ₹360 and the profit was ₹140. One expense was ₹210 (stall fee). How much was the other expense, for lemons (in ₹)?
26. 26.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) buying lemons (d) payment for a cake order
27. 27.📒 Income or expense: paying the stall fee? (a) income (b) expense
28. 28.Vihaan’s income was ₹270 and the profit was ₹150. One expense was ₹40 (lemons). How much was the other expense, for transport (in ₹)?
29. 29.Riya’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹30 (lemons)
    Expense: ₹150 (card paper)
    What is the profit (in ₹)?
30. 30.Aarav’s income was ₹170 and the profit was ₹40. One expense was ₹100 (transport). How much was the other expense, for paper cups (in ₹)?
31. 31.📒 Income or expense: payment for a cake order? (a) expense (b) income
32. 32.True or false: “payment for a cake order” is income (money in). (a) False (b) True
33. 33.Which of these is an expense (money out)? (a) buying paper cups (b) tutoring fees received (c) cash from selling plants (d) money from sales
34. 34.Rohan’s income was ₹330 and the profit was ₹220. One expense was ₹10 (posters). How much was the other expense, for sugar (in ₹)?
35. 35.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
36. 36.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) money from sales (d) bus fare to the market
37. 37.Which of these is income (money in)? (a) buying paper cups (b) payment for a cake order (c) buying lemons (d) bus fare to the market
38. 38.Vihaan’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹60 (posters)
    Expense: ₹80 (ribbon)
    What is the profit (in ₹)?
39. 39.Kabir’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹260 (sugar)
    Expense: ₹100 (transport)
    How much is the loss (in ₹)?
40. 40.True or false: “money from sales” is income (money in). (a) True (b) False

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