Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 652 · 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.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) nothing (d) only the bag
2. 2.True or false: “tutoring fees received” is income (money in). (a) True (b) False
3. 3.Aarav’s stall took in ₹50 on Friday, ₹210 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
4. 4.Which of these is income (money in)? (a) cash from selling plants (b) printing posters (c) paying the stall fee (d) buying lemons
5. 5.📒 Income or expense: paying the stall fee? (a) income (b) expense
6. 6.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to look busy (d) to know the real profit
7. 7.True or false: “printing posters” is an expense (money out). (a) True (b) False
8. 8.Gurpreet’s record for a rainy day:
   Income: ₹80 (sales)
   Expense: ₹10 (transport)
   Expense: ₹160 (ribbon)
   How much is the loss (in ₹)?
9. 9.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
10. 10.Arjun’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹20 (transport)
    Expense: ₹90 (lemons)
    What is the profit (in ₹)?
11. 11.📒 Income or expense: a card order paid? (a) income (b) expense
12. 12.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) a card order paid (d) paying the stall fee
13. 13.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) income − expenses (d) just the income
14. 14.Dev’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹50 (transport)
    Expense: ₹180 (ribbon)
    What is the profit (in ₹)?
15. 15.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) never (d) the same day
16. 16.Nisha’s stall took in ₹290 on Friday, ₹270 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
17. 17.📒 Income or expense: tutoring fees received? (a) income (b) expense
18. 18.Ananya’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹100 (stall fee)
    Expense: ₹170 (sugar)
    What is the profit (in ₹)?
19. 19.📒 Income or expense: bus fare to the market? (a) income (b) expense
20. 20.Tara’s stall took in ₹200 on Friday, ₹330 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
21. 21.Kabir’s income was ₹210 and the profit was ₹30. One expense was ₹40 (card paper). How much was the other expense, for stall fee (in ₹)?
22. 22.📒 Income or expense: payment for a cake order? (a) income (b) expense
23. 23.Lakshmi’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹160 (lemons)
    Expense: ₹70 (transport)
    How much is the loss (in ₹)?
24. 24.True or false: “printing posters” is income (money in). (a) False (b) True
25. 25.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) bus fare to the market (d) money from sales
26. 26.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) buying lemons (d) tutoring fees received
27. 27.Arjun’s income was ₹370 and the profit was ₹130. One expense was ₹180 (card paper). How much was the other expense, for posters (in ₹)?
28. 28.📒 Income or expense: money from sales? (a) expense (b) income
29. 29.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) paying the stall fee (d) money from sales
30. 30.True or false: “money from sales” is income (money in). (a) True (b) False
31. 31.Saanvi’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹10 (paper cups)
    Expense: ₹120 (stall fee)
    How much is the loss (in ₹)?
32. 32.Ananya’s income was ₹340 and the profit was ₹40. One expense was ₹190 (paper cups). How much was the other expense, for transport (in ₹)?
33. 33.Dev’s income was ₹420 and the profit was ₹10. One expense was ₹60 (lemons). How much was the other expense, for transport (in ₹)?
34. 34.True or false: “buying lemons” is income (money in). (a) True (b) False
35. 35.Ishaan’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹40 (ribbon)
    Expense: ₹240 (lemons)
    How much is the loss (in ₹)?
36. 36.Vihaan’s stall took in ₹100 on Friday, ₹190 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
37. 37.Aarav’s stall took in ₹170 on Friday, ₹400 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
38. 38.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
39. 39.Dev’s stall took in ₹220 on Friday, ₹250 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
40. 40.Ananya’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹30 (paper cups)
    Expense: ₹70 (lemons)
    What is the profit (in ₹)?

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