Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 737 · 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: paying the stall fee? (a) expense (b) income
2. 2.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) only the bag (d) a selfie
3. 3.📅 When is the best time to update your records? (a) never (b) the same day (c) whenever you like (d) once a year
4. 4.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
5. 5.True or false: “money from sales” is income (money in). (a) False (b) True
6. 6.Zoya’s stall took in ₹110 on Friday, ₹50 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
7. 7.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
8. 8.Which of these is income (money in)? (a) money from sales (b) printing posters (c) buying lemons (d) paying the stall fee
9. 9.True or false: “buying paper cups” is income (money in). (a) True (b) False
10. 10.📒 Income or expense: payment for a cake order? (a) income (b) expense
11. 11.Which of these is an expense (money out)? (a) paying the stall fee (b) a card order paid (c) money from sales (d) tutoring fees received
12. 12.Riya’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹130 (paper cups)
    Expense: ₹110 (ribbon)
    What is the profit (in ₹)?
13. 13.Which of these is an expense (money out)? (a) printing posters (b) tutoring fees received (c) a card order paid (d) payment for a cake order
14. 14.Farhan’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹400 (evening sales)
    Expense: ₹140 (transport)
    Expense: ₹190 (posters)
    What is the profit (in ₹)?
15. 15.Aarav’s income was ₹140 and the profit was ₹120. One expense was ₹10 (paper cups). How much was the other expense, for card paper (in ₹)?
16. 16.True or false: “paying the stall fee” is income (money in). (a) False (b) True
17. 17.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to look busy (d) to know the real profit
18. 18.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
19. 19.📒 Income or expense: cash from selling plants? (a) income (b) expense
20. 20.Riya’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹110 (transport)
    Expense: ₹150 (paper cups)
    How much is the loss (in ₹)?
21. 21.Ananya’s income was ₹350 and the profit was ₹290. One expense was ₹20 (paper cups). How much was the other expense, for transport (in ₹)?
22. 22.📒 Income or expense: buying lemons? (a) income (b) expense
23. 23.Nisha’s stall took in ₹60 on Friday, ₹400 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
24. 24.Arjun’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹70 (transport)
    Expense: ₹20 (stall fee)
    What is the profit (in ₹)?
25. 25.Zoya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹120 (transport)
    Expense: ₹50 (ribbon)
    What is the profit (in ₹)?
26. 26.Which of these is an expense (money out)? (a) buying lemons (b) money from sales (c) tutoring fees received (d) cash from selling plants
27. 27.Ananya’s stall took in ₹260 on Friday, ₹200 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
28. 28.Lakshmi’s income was ₹240 and the profit was ₹190. One expense was ₹10 (sugar). How much was the other expense, for stall fee (in ₹)?
29. 29.📒 Income or expense: tutoring fees received? (a) expense (b) income
30. 30.True or false: “cash from selling plants” is income (money in). (a) False (b) True
31. 31.Diya’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹130 (sugar)
    Expense: ₹50 (stall fee)
    What is the profit (in ₹)?
32. 32.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) cash from selling plants (d) buying paper cups
33. 33.Riya’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹80 (card paper)
    Expense: ₹70 (transport)
    How much is the loss (in ₹)?
34. 34.📒 Income or expense: printing posters? (a) expense (b) income
35. 35.Lakshmi’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹200 (stall fee)
    Expense: ₹80 (lemons)
    How much is the loss (in ₹)?
36. 36.Lakshmi’s stall took in ₹210 on Friday, ₹120 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
37. 37.True or false: “bus fare to the market” is income (money in). (a) False (b) True
38. 38.Kabir’s income was ₹490 and the profit was ₹210. One expense was ₹80 (stall fee). How much was the other expense, for paper cups (in ₹)?
39. 39.Dev’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹230 (transport)
    Expense: ₹40 (paper cups)
    How much is the loss (in ₹)?
40. 40.Meera’s stall took in ₹380 on Friday, ₹130 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?

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