Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 725 · 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: “payment for a cake order” is income (money in). (a) False (b) True
2. 2.📒 Income or expense: printing posters? (a) income (b) expense
3. 3.Which of these is income (money in)? (a) a card order paid (b) bus fare to the market (c) paying the stall fee (d) buying paper cups
4. 4.True or false: “bus fare to the market” is income (money in). (a) False (b) True
5. 5.📒 Income or expense: a card order paid? (a) income (b) expense
6. 6.Kabir’s record for the day:
   Income: ₹290 (morning sales)
   Income: ₹170 (evening sales)
   Expense: ₹80 (sugar)
   Expense: ₹90 (card paper)
   What is the profit (in ₹)?
7. 7.Lakshmi’s income was ₹350 and the profit was ₹30. One expense was ₹190 (paper cups). How much was the other expense, for transport (in ₹)?
8. 8.➖ Profit in your records = (a) just the income (b) income + expenses (c) expenses − income (d) income − expenses
9. 9.📒 Income or expense: payment for a cake order? (a) income (b) expense
10. 10.Aarav’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹170 (sugar)
    Expense: ₹120 (card paper)
    How much is the loss (in ₹)?
11. 11.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) printing posters (d) tutoring fees received
12. 12.Rohan’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹190 (paper cups)
    Expense: ₹70 (card paper)
    What is the profit (in ₹)?
13. 13.True or false: “cash from selling plants” is income (money in). (a) True (b) False
14. 14.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) to fill a notebook (d) no reason
15. 15.Rohan’s income was ₹110 and the profit was ₹60. One expense was ₹10 (posters). How much was the other expense, for card paper (in ₹)?
16. 16.Joseph’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹140 (transport)
    Expense: ₹190 (lemons)
    What is the profit (in ₹)?
17. 17.📒 Income or expense: buying paper cups? (a) income (b) expense
18. 18.Meera’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹170 (lemons)
    Expense: ₹40 (sugar)
    What is the profit (in ₹)?
19. 19.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) payment for a cake order (d) buying lemons
20. 20.Aarav’s stall took in ₹320 on Friday, ₹90 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
21. 21.📅 When is the best time to update your records? (a) once a year (b) the same day (c) whenever you like (d) never
22. 22.📒 Income or expense: tutoring fees received? (a) expense (b) income
23. 23.Farhan’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹20 (posters)
    Expense: ₹110 (lemons)
    What is the profit (in ₹)?
24. 24.Riya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹160 (sugar)
    Expense: ₹140 (lemons)
    What is the profit (in ₹)?
25. 25.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) paying the stall fee (d) cash from selling plants
26. 26.Zoya’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹100 (paper cups)
    Expense: ₹60 (lemons)
    How much is the loss (in ₹)?
27. 27.Dev’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹120 (paper cups)
    Expense: ₹110 (posters)
    What is the profit (in ₹)?
28. 28.True or false: “a card order paid” is income (money in). (a) False (b) True
29. 29.📒 Income or expense: money from sales? (a) expense (b) income
30. 30.True or false: “printing posters” is an expense (money out). (a) False (b) True
31. 31.Kavya’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹180 (stall fee)
    Expense: ₹80 (paper cups)
    What is the profit (in ₹)?
32. 32.Gurpreet’s record for the day:
    Income: ₹360 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹180 (stall fee)
    Expense: ₹190 (card paper)
    What is the profit (in ₹)?
33. 33.True or false: “buying lemons” is an expense (money out). (a) True (b) False
34. 34.Which of these is an expense (money out)? (a) buying lemons (b) tutoring fees received (c) a card order paid (d) payment for a cake order
35. 35.Ananya’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹210 (paper cups)
    Expense: ₹50 (ribbon)
    How much is the loss (in ₹)?
36. 36.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) only the bag (d) nothing
37. 37.Farhan’s stall took in ₹300 on Friday, ₹140 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
38. 38.Riya’s stall took in ₹100 on Friday, ₹120 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
39. 39.📒 Income or expense: buying lemons? (a) income (b) expense
40. 40.Ishaan’s income was ₹290 and the profit was ₹240. One expense was ₹10 (stall fee). How much was the other expense, for ribbon (in ₹)?

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