Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 721 · 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: a card order paid? (a) expense (b) income
2. 2.📒 Income or expense: bus fare to the market? (a) expense (b) income
3. 3.Ananya’s stall took in ₹140 on Friday, ₹370 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
4. 4.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
5. 5.Which of these is an expense (money out)? (a) printing posters (b) money from sales (c) payment for a cake order (d) cash from selling plants
6. 6.Meera’s record for a rainy day:
   Income: ₹70 (sales)
   Expense: ₹40 (card paper)
   Expense: ₹80 (ribbon)
   How much is the loss (in ₹)?
7. 7.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
8. 8.Which of these is income (money in)? (a) printing posters (b) payment for a cake order (c) paying the stall fee (d) bus fare to the market
9. 9.📒 Income or expense: tutoring fees received? (a) expense (b) income
10. 10.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
11. 11.Meera’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹110 (transport)
    Expense: ₹20 (posters)
    How much is the loss (in ₹)?
12. 12.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to fill a notebook (d) to know the real profit
13. 13.📒 Income or expense: buying paper cups? (a) income (b) expense
14. 14.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) nothing (d) a selfie
15. 15.📒 Income or expense: printing posters? (a) expense (b) income
16. 16.True or false: “printing posters” is an expense (money out). (a) True (b) False
17. 17.Joseph’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹70 (paper cups)
    Expense: ₹190 (stall fee)
    How much is the loss (in ₹)?
18. 18.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) buying lemons (d) tutoring fees received
19. 19.Which of these is an expense (money out)? (a) cash from selling plants (b) buying lemons (c) payment for a cake order (d) tutoring fees received
20. 20.Riya’s stall took in ₹250 on Friday, ₹210 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
21. 21.Farhan’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹30 (sugar)
    Expense: ₹160 (posters)
    What is the profit (in ₹)?
22. 22.Which of these is an expense (money out)? (a) payment for a cake order (b) paying the stall fee (c) money from sales (d) cash from selling plants
23. 23.True or false: “cash from selling plants” is income (money in). (a) False (b) True
24. 24.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
25. 25.Ananya’s stall took in ₹60 on Friday, ₹190 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
26. 26.Kabir’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹80 (posters)
    Expense: ₹240 (sugar)
    How much is the loss (in ₹)?
27. 27.📅 When is the best time to update your records? (a) never (b) once a year (c) the same day (d) whenever you like
28. 28.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) just the income (d) expenses − income
29. 29.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) money from sales (d) bus fare to the market
30. 30.Ananya’s stall took in ₹390 on Friday, ₹160 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
31. 31.Which of these is an expense (money out)? (a) a card order paid (b) buying paper cups (c) tutoring fees received (d) cash from selling plants
32. 32.Lakshmi’s stall took in ₹60 on Friday, ₹50 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
33. 33.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) paying the stall fee (d) cash from selling plants
34. 34.True or false: “money from sales” is income (money in). (a) True (b) False
35. 35.Saanvi’s stall took in ₹230 on Friday, ₹80 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
36. 36.True or false: “payment for a cake order” is income (money in). (a) True (b) False
37. 37.True or false: “buying lemons” is an expense (money out). (a) False (b) True
38. 38.Vihaan’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹30 (stall fee)
    Expense: ₹60 (transport)
    How much is the loss (in ₹)?
39. 39.Arjun’s stall took in ₹360 on Friday, ₹380 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
40. 40.True or false: “money from sales” is an expense (money out). (a) False (b) True

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