Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 727 · 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.Which of these is an expense (money out)? (a) paying the stall fee (b) a card order paid (c) cash from selling plants (d) tutoring fees received
2. 2.📒 Income or expense: tutoring fees received? (a) income (b) expense
3. 3.Nisha’s income was ₹100 and the profit was ₹60. One expense was ₹20 (paper cups). How much was the other expense, for ribbon (in ₹)?
4. 4.Dev’s record for a rainy day:
   Income: ₹300 (sales)
   Expense: ₹90 (sugar)
   Expense: ₹280 (lemons)
   How much is the loss (in ₹)?
5. 5.True or false: “money from sales” is income (money in). (a) False (b) True
6. 6.Diya’s stall took in ₹80 on Friday, ₹100 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
7. 7.True or false: “tutoring fees received” is income (money in). (a) True (b) False
8. 8.True or false: “a card order paid” is income (money in). (a) False (b) True
9. 9.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) just the income (d) income + expenses
10. 10.Which of these is income (money in)? (a) paying the stall fee (b) cash from selling plants (c) printing posters (d) buying lemons
11. 11.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
12. 12.True or false: “cash from selling plants” is income (money in). (a) False (b) True
13. 13.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
14. 14.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
15. 15.Ananya’s income was ₹490 and the profit was ₹50. One expense was ₹230 (posters). How much was the other expense, for card paper (in ₹)?
16. 16.True or false: “bus fare to the market” is income (money in). (a) True (b) False
17. 17.True or false: “buying lemons” is an expense (money out). (a) False (b) True
18. 18.📒 Income or expense: money from sales? (a) income (b) expense
19. 19.Which of these is income (money in)? (a) buying lemons (b) tutoring fees received (c) paying the stall fee (d) printing posters
20. 20.True or false: “buying paper cups” is income (money in). (a) False (b) True
21. 21.Meera’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹140 (ribbon)
    Expense: ₹60 (transport)
    How much is the loss (in ₹)?
22. 22.📒 Income or expense: printing posters? (a) expense (b) income
23. 23.📒 Income or expense: a card order paid? (a) expense (b) income
24. 24.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) the bill or receipt (d) nothing
25. 25.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
26. 26.Tara’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹30 (stall fee)
    Expense: ₹20 (posters)
    What is the profit (in ₹)?
27. 27.Kabir’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹190 (lemons)
    Expense: ₹150 (sugar)
    What is the profit (in ₹)?
28. 28.Rohan’s income was ₹340 and the profit was ₹220. One expense was ₹60 (ribbon). How much was the other expense, for card paper (in ₹)?
29. 29.Zoya’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹150 (stall fee)
    Expense: ₹160 (ribbon)
    How much is the loss (in ₹)?
30. 30.Rohan’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹30 (card paper)
    Expense: ₹50 (paper cups)
    How much is the loss (in ₹)?
31. 31.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
32. 32.Riya’s income was ₹350 and the profit was ₹140. One expense was ₹130 (ribbon). How much was the other expense, for paper cups (in ₹)?
33. 33.Ishaan’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹30 (transport)
    Expense: ₹60 (lemons)
    How much is the loss (in ₹)?
34. 34.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
35. 35.Vihaan’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹50 (stall fee)
    Expense: ₹170 (card paper)
    What is the profit (in ₹)?
36. 36.Gurpreet’s income was ₹310 and the profit was ₹170. One expense was ₹130 (ribbon). How much was the other expense, for lemons (in ₹)?
37. 37.Joseph’s record for the day:
    Income: ₹390 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹90 (sugar)
    Expense: ₹170 (card paper)
    What is the profit (in ₹)?
38. 38.Diya’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹130 (ribbon)
    Expense: ₹240 (transport)
    How much is the loss (in ₹)?
39. 39.True or false: “a card order paid” is an expense (money out). (a) False (b) True
40. 40.Riya’s stall took in ₹310 on Friday, ₹330 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?

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