Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 681 · 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.Nisha’s record for the day:
   Income: ₹250 (morning sales)
   Income: ₹300 (evening sales)
   Expense: ₹140 (stall fee)
   Expense: ₹120 (paper cups)
   What is the profit (in ₹)?
2. 2.True or false: “printing posters” is income (money in). (a) True (b) False
3. 3.📒 Income or expense: tutoring fees received? (a) income (b) expense
4. 4.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
5. 5.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) a card order paid (d) buying lemons
6. 6.Kavya’s record for the day:
   Income: ₹30 (morning sales)
   Income: ₹190 (evening sales)
   Expense: ₹100 (ribbon)
   Expense: ₹50 (lemons)
   What is the profit (in ₹)?
7. 7.True or false: “buying lemons” is an expense (money out). (a) False (b) True
8. 8.📒 Income or expense: cash from selling plants? (a) expense (b) income
9. 9.Meera’s record for a rainy day:
   Income: ₹140 (sales)
   Expense: ₹60 (stall fee)
   Expense: ₹150 (card paper)
   How much is the loss (in ₹)?
10. 10.📒 Income or expense: buying lemons? (a) expense (b) income
11. 11.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) only the bag (d) the bill or receipt
12. 12.Nisha’s income was ₹140 and the profit was ₹120. One expense was ₹10 (lemons). How much was the other expense, for paper cups (in ₹)?
13. 13.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) a card order paid (d) buying lemons
14. 14.Diya’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹140 (transport)
    Expense: ₹90 (stall fee)
    What is the profit (in ₹)?
15. 15.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
16. 16.Which of these is income (money in)? (a) payment for a cake order (b) buying paper cups (c) bus fare to the market (d) paying the stall fee
17. 17.True or false: “payment for a cake order” is income (money in). (a) True (b) False
18. 18.📒 Income or expense: paying the stall fee? (a) income (b) expense
19. 19.Kabir’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹90 (ribbon)
    Expense: ₹90 (card paper)
    What is the profit (in ₹)?
20. 20.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) expenses − income (d) just the income
21. 21.True or false: “a card order paid” is income (money in). (a) True (b) False
22. 22.True or false: “buying lemons” is income (money in). (a) True (b) False
23. 23.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to fill a notebook (d) to look busy
24. 24.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) bus fare to the market (d) a card order paid
25. 25.True or false: “cash from selling plants” is income (money in). (a) True (b) False
26. 26.📅 When is the best time to update your records? (a) never (b) whenever you like (c) once a year (d) the same day
27. 27.Kabir’s income was ₹300 and the profit was ₹120. One expense was ₹60 (lemons). How much was the other expense, for posters (in ₹)?
28. 28.Nisha’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹90 (sugar)
    Expense: ₹120 (lemons)
    What is the profit (in ₹)?
29. 29.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) buying lemons (d) cash from selling plants
30. 30.Farhan’s stall took in ₹350 on Friday, ₹300 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
31. 31.True or false: “money from sales” is income (money in). (a) False (b) True
32. 32.Meera’s stall took in ₹70 on Friday, ₹330 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
33. 33.📒 Income or expense: bus fare to the market? (a) expense (b) income
34. 34.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) money from sales (d) paying the stall fee
35. 35.Vihaan’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹30 (ribbon)
    Expense: ₹80 (sugar)
    What is the profit (in ₹)?
36. 36.Rohan’s income was ₹390 and the profit was ₹10. One expense was ₹50 (transport). How much was the other expense, for lemons (in ₹)?
37. 37.📒 Income or expense: money from sales? (a) income (b) expense
38. 38.True or false: “paying the stall fee” is income (money in). (a) False (b) True
39. 39.Arjun’s stall took in ₹280 on Friday, ₹250 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
40. 40.Joseph’s income was ₹360 and the profit was ₹20. One expense was ₹310 (paper cups). How much was the other expense, for sugar (in ₹)?

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