Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 621 · 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.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) no reason (d) to know the real profit
2. 2.📒 Income or expense: tutoring fees received? (a) income (b) expense
3. 3.📒 Income or expense: paying the stall fee? (a) income (b) expense
4. 4.📒 Income or expense: money from sales? (a) expense (b) income
5. 5.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) cash from selling plants (d) buying paper cups
6. 6.📒 Income or expense: printing posters? (a) income (b) expense
7. 7.📅 When is the best time to update your records? (a) once a year (b) the same day (c) whenever you like (d) never
8. 8.Vihaan’s income was ₹160 and the profit was ₹40. One expense was ₹110 (paper cups). How much was the other expense, for transport (in ₹)?
9. 9.📒 Income or expense: payment for a cake order? (a) income (b) expense
10. 10.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) paying the stall fee (d) money from sales
11. 11.Which of these is income (money in)? (a) payment for a cake order (b) buying paper cups (c) buying lemons (d) bus fare to the market
12. 12.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) bus fare to the market (d) tutoring fees received
13. 13.Nisha’s income was ₹450 and the profit was ₹380. One expense was ₹20 (card paper). How much was the other expense, for paper cups (in ₹)?
14. 14.Tara’s stall took in ₹330 on Friday, ₹230 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
15. 15.Which of these is income (money in)? (a) paying the stall fee (b) a card order paid (c) printing posters (d) bus fare to the market
16. 16.Ananya’s income was ₹220 and the profit was ₹50. One expense was ₹130 (card paper). How much was the other expense, for transport (in ₹)?
17. 17.Diya’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹280 (posters)
    Expense: ₹10 (sugar)
    How much is the loss (in ₹)?
18. 18.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
19. 19.Arjun’s income was ₹450 and the profit was ₹400. One expense was ₹40 (stall fee). How much was the other expense, for ribbon (in ₹)?
20. 20.Lakshmi’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹50 (card paper)
    Expense: ₹200 (stall fee)
    What is the profit (in ₹)?
21. 21.True or false: “a card order paid” is an expense (money out). (a) True (b) False
22. 22.Dev’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹50 (paper cups)
    Expense: ₹280 (posters)
    How much is the loss (in ₹)?
23. 23.Diya’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹80 (paper cups)
    Expense: ₹70 (transport)
    How much is the loss (in ₹)?
24. 24.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) money from sales (d) printing posters
25. 25.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) cash from selling plants (d) buying lemons
26. 26.True or false: “buying lemons” is income (money in). (a) True (b) False
27. 27.True or false: “paying the stall fee” is income (money in). (a) True (b) False
28. 28.Saanvi’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹420 (evening sales)
    Expense: ₹160 (stall fee)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
29. 29.Kavya’s income was ₹390 and the profit was ₹20. One expense was ₹360 (transport). How much was the other expense, for card paper (in ₹)?
30. 30.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) buying paper cups (d) tutoring fees received
31. 31.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) just the income (d) income + expenses
32. 32.True or false: “printing posters” is income (money in). (a) False (b) True
33. 33.Zoya’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹70 (stall fee)
    Expense: ₹310 (transport)
    How much is the loss (in ₹)?
34. 34.True or false: “a card order paid” is income (money in). (a) True (b) False
35. 35.Rohan’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹20 (card paper)
    Expense: ₹120 (transport)
    What is the profit (in ₹)?
36. 36.Vihaan’s stall took in ₹180 on Friday, ₹290 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
37. 37.📒 Income or expense: buying lemons? (a) income (b) expense
38. 38.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) the bill or receipt (d) nothing
39. 39.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) money from sales (d) buying lemons
40. 40.📒 Income or expense: a card order paid? (a) expense (b) income

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