Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 647 · 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: buying paper cups? (a) income (b) expense
2. 2.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
3. 3.Which of these is income (money in)? (a) payment for a cake order (b) buying lemons (c) buying paper cups (d) bus fare to the market
4. 4.True or false: “cash from selling plants” is income (money in). (a) True (b) False
5. 5.True or false: “money from sales” is an expense (money out). (a) True (b) False
6. 6.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) the bill or receipt (d) nothing
7. 7.Saanvi’s record for a rainy day:
   Income: ₹280 (sales)
   Expense: ₹30 (sugar)
   Expense: ₹320 (paper cups)
   How much is the loss (in ₹)?
8. 8.Saanvi’s record for the day:
   Income: ₹220 (morning sales)
   Income: ₹10 (evening sales)
   Expense: ₹120 (lemons)
   Expense: ₹90 (transport)
   What is the profit (in ₹)?
9. 9.Meera’s record for a rainy day:
   Income: ₹290 (sales)
   Expense: ₹200 (card paper)
   Expense: ₹160 (posters)
   How much is the loss (in ₹)?
10. 10.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) income − expenses (d) just the income
11. 11.Vihaan’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹20 (ribbon)
    Expense: ₹80 (paper cups)
    What is the profit (in ₹)?
12. 12.Joseph’s stall took in ₹180 on Friday, ₹260 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
13. 13.True or false: “money from sales” is income (money in). (a) False (b) True
14. 14.Rohan’s income was ₹140 and the profit was ₹20. One expense was ₹30 (lemons). How much was the other expense, for posters (in ₹)?
15. 15.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) money from sales (d) buying paper cups
16. 16.True or false: “bus fare to the market” is income (money in). (a) False (b) True
17. 17.True or false: “buying lemons” is an expense (money out). (a) False (b) True
18. 18.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to know the real profit (d) to look busy
19. 19.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
20. 20.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) money from sales (d) printing posters
21. 21.📅 When is the best time to update your records? (a) whenever you like (b) never (c) the same day (d) once a year
22. 22.True or false: “payment for a cake order” is income (money in). (a) True (b) False
23. 23.📒 Income or expense: tutoring fees received? (a) income (b) expense
24. 24.Aarav’s stall took in ₹80 on Friday, ₹220 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
25. 25.Tara’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹230 (lemons)
    Expense: ₹130 (stall fee)
    How much is the loss (in ₹)?
26. 26.Gurpreet’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹40 (ribbon)
    Expense: ₹160 (lemons)
    How much is the loss (in ₹)?
27. 27.Zoya’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹60 (posters)
    Expense: ₹100 (paper cups)
    How much is the loss (in ₹)?
28. 28.Riya’s income was ₹120 and the profit was ₹70. One expense was ₹30 (sugar). How much was the other expense, for ribbon (in ₹)?
29. 29.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) payment for a cake order (d) bus fare to the market
30. 30.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) buying paper cups (d) tutoring fees received
31. 31.📒 Income or expense: cash from selling plants? (a) income (b) expense
32. 32.True or false: “paying the stall fee” is income (money in). (a) False (b) True
33. 33.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
34. 34.Farhan’s stall took in ₹160 on Friday, ₹360 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
35. 35.Aarav’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹110 (lemons)
    Expense: ₹70 (paper cups)
    What is the profit (in ₹)?
36. 36.📒 Income or expense: buying lemons? (a) expense (b) income
37. 37.📒 Income or expense: money from sales? (a) expense (b) income
38. 38.Farhan’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹90 (sugar)
    Expense: ₹40 (stall fee)
    How much is the loss (in ₹)?
39. 39.Kabir’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹70 (transport)
    Expense: ₹180 (posters)
    What is the profit (in ₹)?
40. 40.Riya’s stall took in ₹270 on Friday, ₹200 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?

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