Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 731 · 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: tutoring fees received? (a) income (b) expense
2. 2.Zoya’s record for a rainy day:
   Income: ₹230 (sales)
   Expense: ₹10 (ribbon)
   Expense: ₹260 (sugar)
   How much is the loss (in ₹)?
3. 3.📒 Income or expense: cash from selling plants? (a) expense (b) income
4. 4.📅 When is the best time to update your records? (a) whenever you like (b) never (c) the same day (d) once a year
5. 5.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) tutoring fees received (d) buying paper cups
6. 6.Joseph’s income was ₹140 and the profit was ₹100. One expense was ₹20 (stall fee). How much was the other expense, for paper cups (in ₹)?
7. 7.📒 Income or expense: buying lemons? (a) expense (b) income
8. 8.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) only the bag (d) a selfie
9. 9.📒 Income or expense: paying the stall fee? (a) expense (b) income
10. 10.➖ Profit in your records = (a) just the income (b) expenses − income (c) income + expenses (d) income − expenses
11. 11.True or false: “buying paper cups” is income (money in). (a) True (b) False
12. 12.Ishaan’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹20 (sugar)
    What is the profit (in ₹)?
13. 13.Joseph’s income was ₹170 and the profit was ₹110. One expense was ₹30 (card paper). How much was the other expense, for transport (in ₹)?
14. 14.📒 Income or expense: buying paper cups? (a) expense (b) income
15. 15.True or false: “buying lemons” is income (money in). (a) True (b) False
16. 16.Kabir’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹100 (ribbon)
    Expense: ₹100 (transport)
    How much is the loss (in ₹)?
17. 17.Saanvi’s stall took in ₹80 on Friday, ₹370 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
18. 18.Which of these is income (money in)? (a) buying paper cups (b) cash from selling plants (c) buying lemons (d) paying the stall fee
19. 19.Aarav’s stall took in ₹120 on Friday, ₹130 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
20. 20.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to know the real profit (d) to look busy
21. 21.📒 Income or expense: money from sales? (a) income (b) expense
22. 22.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) a card order paid (d) bus fare to the market
23. 23.Lakshmi’s stall took in ₹360 on Friday, ₹80 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
24. 24.Lakshmi’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹100 (posters)
    Expense: ₹200 (transport)
    How much is the loss (in ₹)?
25. 25.True or false: “printing posters” is an expense (money out). (a) False (b) True
26. 26.Ananya’s stall took in ₹350 on Friday, ₹290 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
27. 27.Which of these is an expense (money out)? (a) a card order paid (b) printing posters (c) tutoring fees received (d) money from sales
28. 28.True or false: “bus fare to the market” is income (money in). (a) True (b) False
29. 29.True or false: “payment for a cake order” is income (money in). (a) False (b) True
30. 30.True or false: “a card order paid” is an expense (money out). (a) True (b) False
31. 31.📒 Income or expense: payment for a cake order? (a) expense (b) income
32. 32.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) money from sales (d) buying lemons
33. 33.Dev’s income was ₹230 and the profit was ₹40. One expense was ₹80 (posters). How much was the other expense, for transport (in ₹)?
34. 34.Joseph’s income was ₹370 and the profit was ₹280. One expense was ₹20 (stall fee). How much was the other expense, for sugar (in ₹)?
35. 35.📒 Income or expense: bus fare to the market? (a) expense (b) income
36. 36.📒 Income or expense: a card order paid? (a) expense (b) income
37. 37.Nisha’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹10 (card paper)
    Expense: ₹200 (transport)
    How much is the loss (in ₹)?
38. 38.Zoya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹80 (sugar)
    Expense: ₹20 (lemons)
    What is the profit (in ₹)?
39. 39.Which of these is an expense (money out)? (a) buying lemons (b) payment for a cake order (c) money from sales (d) cash from selling plants
40. 40.Nisha’s stall took in ₹70 on Friday, ₹60 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?

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