Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 695 · 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: tutoring fees received? (a) expense (b) income
2. 2.Zoya’s income was ₹360 and the profit was ₹270. One expense was ₹40 (stall fee). How much was the other expense, for sugar (in ₹)?
3. 3.Joseph’s record for a rainy day:
   Income: ₹190 (sales)
   Expense: ₹240 (card paper)
   Expense: ₹50 (transport)
   How much is the loss (in ₹)?
4. 4.Tara’s income was ₹330 and the profit was ₹230. One expense was ₹80 (posters). How much was the other expense, for lemons (in ₹)?
5. 5.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) bus fare to the market (d) a card order paid
6. 6.📒 Income or expense: buying lemons? (a) expense (b) income
7. 7.Tara’s stall took in ₹100 on Friday, ₹90 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
8. 8.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) a card order paid (d) buying paper cups
9. 9.True or false: “a card order paid” is an expense (money out). (a) False (b) True
10. 10.True or false: “paying the stall fee” is income (money in). (a) True (b) False
11. 11.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) buying lemons (d) tutoring fees received
12. 12.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) money from sales (d) paying the stall fee
13. 13.📒 Income or expense: payment for a cake order? (a) income (b) expense
14. 14.Gurpreet’s record for the day:
    Income: ₹360 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹180 (transport)
    Expense: ₹80 (stall fee)
    What is the profit (in ₹)?
15. 15.📒 Income or expense: printing posters? (a) expense (b) income
16. 16.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) never (d) the same day
17. 17.📒 Income or expense: money from sales? (a) expense (b) income
18. 18.True or false: “payment for a cake order” is income (money in). (a) True (b) False
19. 19.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) a selfie (d) the bill or receipt
20. 20.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
21. 21.📒 Income or expense: cash from selling plants? (a) income (b) expense
22. 22.Kabir’s stall took in ₹320 on Friday, ₹200 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
23. 23.Which of these is income (money in)? (a) bus fare to the market (b) payment for a cake order (c) buying paper cups (d) paying the stall fee
24. 24.📒 Income or expense: a card order paid? (a) expense (b) income
25. 25.True or false: “cash from selling plants” is income (money in). (a) True (b) False
26. 26.➖ Profit in your records = (a) income + expenses (b) just the income (c) expenses − income (d) income − expenses
27. 27.Aarav’s income was ₹190 and the profit was ₹20. One expense was ₹150 (stall fee). How much was the other expense, for sugar (in ₹)?
28. 28.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) buying lemons (d) money from sales
29. 29.Which of these is income (money in)? (a) cash from selling plants (b) buying lemons (c) paying the stall fee (d) buying paper cups
30. 30.Riya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹30 (card paper)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
31. 31.Tara’s stall took in ₹280 on Friday, ₹240 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
32. 32.Ananya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹20 (ribbon)
    Expense: ₹20 (transport)
    What is the profit (in ₹)?
33. 33.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to know the real profit (d) to look busy
34. 34.Aarav’s income was ₹180 and the profit was ₹160. One expense was ₹10 (card paper). How much was the other expense, for ribbon (in ₹)?
35. 35.Gurpreet’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹500 (evening sales)
    Expense: ₹160 (ribbon)
    Expense: ₹100 (lemons)
    What is the profit (in ₹)?
36. 36.True or false: “tutoring fees received” is income (money in). (a) False (b) True
37. 37.Kavya’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹90 (lemons)
    Expense: ₹90 (paper cups)
    How much is the loss (in ₹)?
38. 38.Farhan’s income was ₹140 and the profit was ₹40. One expense was ₹70 (card paper). How much was the other expense, for stall fee (in ₹)?
39. 39.Saanvi’s income was ₹280 and the profit was ₹20. One expense was ₹180 (ribbon). How much was the other expense, for paper cups (in ₹)?
40. 40.Which of these is income (money in)? (a) money from sales (b) printing posters (c) buying lemons (d) buying paper cups

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