Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 713 · 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.True or false: “printing posters” is income (money in). (a) False (b) True
2. 2.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt
3. 3.➖ Profit in your records = (a) just the income (b) income + expenses (c) expenses − income (d) income − expenses
4. 4.Riya’s stall took in ₹60 on Friday, ₹90 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
5. 5.True or false: “bus fare to the market” is income (money in). (a) False (b) True
6. 6.Lakshmi’s record for a rainy day:
   Income: ₹300 (sales)
   Expense: ₹10 (ribbon)
   Expense: ₹310 (posters)
   How much is the loss (in ₹)?
7. 7.📒 Income or expense: bus fare to the market? (a) expense (b) income
8. 8.Ishaan’s record for a rainy day:
   Income: ₹70 (sales)
   Expense: ₹20 (lemons)
   Expense: ₹100 (transport)
   How much is the loss (in ₹)?
9. 9.True or false: “money from sales” is an expense (money out). (a) True (b) False
10. 10.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
11. 11.True or false: “cash from selling plants” is income (money in). (a) False (b) True
12. 12.Zoya’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹40 (transport)
    Expense: ₹100 (stall fee)
    What is the profit (in ₹)?
13. 13.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) to look busy (d) no reason
14. 14.Kavya’s stall took in ₹80 on Friday, ₹140 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
15. 15.📒 Income or expense: payment for a cake order? (a) income (b) expense
16. 16.📒 Income or expense: buying paper cups? (a) income (b) expense
17. 17.Which of these is income (money in)? (a) money from sales (b) paying the stall fee (c) buying lemons (d) printing posters
18. 18.📒 Income or expense: a card order paid? (a) expense (b) income
19. 19.Vihaan’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹180 (posters)
    Expense: ₹150 (lemons)
    What is the profit (in ₹)?
20. 20.Meera’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹90 (stall fee)
    Expense: ₹190 (lemons)
    What is the profit (in ₹)?
21. 21.Ananya’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹80 (transport)
    Expense: ₹180 (paper cups)
    What is the profit (in ₹)?
22. 22.Ishaan’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹80 (lemons)
    Expense: ₹90 (sugar)
    How much is the loss (in ₹)?
23. 23.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) money from sales (d) printing posters
24. 24.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) tutoring fees received (d) printing posters
25. 25.📒 Income or expense: printing posters? (a) expense (b) income
26. 26.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) cash from selling plants (d) printing posters
27. 27.📒 Income or expense: money from sales? (a) expense (b) income
28. 28.Lakshmi’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹160 (card paper)
    Expense: ₹50 (stall fee)
    What is the profit (in ₹)?
29. 29.📅 When is the best time to update your records? (a) the same day (b) once a year (c) whenever you like (d) never
30. 30.Gurpreet’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹60 (sugar)
    Expense: ₹130 (card paper)
    What is the profit (in ₹)?
31. 31.Ananya’s stall took in ₹100 on Friday, ₹80 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
32. 32.Aarav’s income was ₹100 and the profit was ₹10. One expense was ₹20 (posters). How much was the other expense, for stall fee (in ₹)?
33. 33.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) a card order paid (d) buying paper cups
34. 34.Saanvi’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹260 (paper cups)
    Expense: ₹70 (lemons)
    How much is the loss (in ₹)?
35. 35.📒 Income or expense: tutoring fees received? (a) income (b) expense
36. 36.📒 Income or expense: cash from selling plants? (a) expense (b) income
37. 37.Riya’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹260 (ribbon)
    Expense: ₹20 (stall fee)
    How much is the loss (in ₹)?
38. 38.Vihaan’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹140 (posters)
    Expense: ₹80 (sugar)
    How much is the loss (in ₹)?
39. 39.Ishaan’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹270 (lemons)
    Expense: ₹30 (sugar)
    How much is the loss (in ₹)?
40. 40.Which of these is an expense (money out)? (a) tutoring fees received (b) bus fare to the market (c) money from sales (d) a card order paid

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