Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 712 · 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: paying the stall fee? (a) income (b) expense
2. 2.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
3. 3.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) buying lemons (d) cash from selling plants
4. 4.📒 Income or expense: bus fare to the market? (a) expense (b) income
5. 5.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) no reason (d) to look busy
6. 6.Rohan’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹160 (evening sales)
   Expense: ₹30 (ribbon)
   Expense: ₹50 (sugar)
   What is the profit (in ₹)?
7. 7.True or false: “printing posters” is income (money in). (a) True (b) False
8. 8.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) income − expenses (d) just the income
9. 9.Lakshmi’s record for a rainy day:
   Income: ₹270 (sales)
   Expense: ₹270 (paper cups)
   Expense: ₹100 (stall fee)
   How much is the loss (in ₹)?
10. 10.Zoya’s stall took in ₹90 on Friday, ₹60 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
11. 11.Lakshmi’s stall took in ₹230 on Friday, ₹270 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
12. 12.True or false: “a card order paid” is income (money in). (a) False (b) True
13. 13.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) buying lemons (d) a card order paid
14. 14.Which of these is an expense (money out)? (a) paying the stall fee (b) a card order paid (c) tutoring fees received (d) money from sales
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.True or false: “money from sales” is an expense (money out). (a) False (b) True
17. 17.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) a selfie (d) the bill or receipt
18. 18.Aarav’s stall took in ₹190 on Friday, ₹270 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
19. 19.Vihaan’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹210 (transport)
    Expense: ₹80 (stall fee)
    How much is the loss (in ₹)?
20. 20.Diya’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹230 (sugar)
    Expense: ₹110 (ribbon)
    How much is the loss (in ₹)?
21. 21.📒 Income or expense: buying lemons? (a) income (b) expense
22. 22.Vihaan’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹50 (transport)
    Expense: ₹160 (sugar)
    How much is the loss (in ₹)?
23. 23.Lakshmi’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹10 (lemons)
    Expense: ₹240 (paper cups)
    How much is the loss (in ₹)?
24. 24.Kabir’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹50 (transport)
    Expense: ₹130 (paper cups)
    What is the profit (in ₹)?
25. 25.Aarav’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹40 (stall fee)
    Expense: ₹120 (sugar)
    How much is the loss (in ₹)?
26. 26.Diya’s record for the day:
    Income: ₹470 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹170 (paper cups)
    Expense: ₹50 (stall fee)
    What is the profit (in ₹)?
27. 27.Lakshmi’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹160 (sugar)
    Expense: ₹150 (ribbon)
    What is the profit (in ₹)?
28. 28.📒 Income or expense: cash from selling plants? (a) income (b) expense
29. 29.Meera’s record for the day:
    Income: ₹480 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹130 (paper cups)
    Expense: ₹190 (sugar)
    What is the profit (in ₹)?
30. 30.True or false: “printing posters” is an expense (money out). (a) False (b) True
31. 31.True or false: “paying the stall fee” is income (money in). (a) True (b) False
32. 32.True or false: “payment for a cake order” is income (money in). (a) True (b) False
33. 33.Which of these is an expense (money out)? (a) tutoring fees received (b) buying paper cups (c) a card order paid (d) cash from selling plants
34. 34.Meera’s stall took in ₹240 on Friday, ₹90 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
35. 35.Dev’s income was ₹170 and the profit was ₹10. One expense was ₹60 (card paper). How much was the other expense, for posters (in ₹)?
36. 36.Which of these is income (money in)? (a) buying paper cups (b) tutoring fees received (c) bus fare to the market (d) printing posters
37. 37.📒 Income or expense: money from sales? (a) income (b) expense
38. 38.Kabir’s stall took in ₹330 on Friday, ₹170 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
39. 39.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) money from sales (d) paying the stall fee
40. 40.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) cash from selling plants (d) buying lemons

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