Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 738 · 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: “buying paper cups” is an expense (money out). (a) False (b) True
2. 2.Lakshmi’s stall took in ₹220 on Friday, ₹120 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
3. 3.Ananya’s income was ₹200 and the profit was ₹110. One expense was ₹30 (lemons). How much was the other expense, for paper cups (in ₹)?
4. 4.Joseph’s stall took in ₹110 on Friday, ₹400 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
5. 5.Which of these is an expense (money out)? (a) paying the stall fee (b) payment for a cake order (c) a card order paid (d) cash from selling plants
6. 6.True or false: “a card order paid” is income (money in). (a) True (b) False
7. 7.Joseph’s record for the day:
   Income: ₹320 (morning sales)
   Income: ₹100 (evening sales)
   Expense: ₹190 (transport)
   Expense: ₹40 (posters)
   What is the profit (in ₹)?
8. 8.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to know the real profit (d) to look busy
9. 9.True or false: “a card order paid” is an expense (money out). (a) False (b) True
10. 10.Which of these is income (money in)? (a) bus fare to the market (b) money from sales (c) paying the stall fee (d) buying paper cups
11. 11.Gurpreet’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹10 (transport)
    Expense: ₹100 (ribbon)
    How much is the loss (in ₹)?
12. 12.True or false: “buying lemons” is income (money in). (a) False (b) True
13. 13.Which of these is income (money in)? (a) a card order paid (b) bus fare to the market (c) buying lemons (d) printing posters
14. 14.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
15. 15.➖ Profit in your records = (a) expenses − income (b) just the income (c) income + expenses (d) income − expenses
16. 16.True or false: “tutoring fees received” is income (money in). (a) False (b) True
17. 17.Saanvi’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹270 (lemons)
    Expense: ₹20 (card paper)
    How much is the loss (in ₹)?
18. 18.📒 Income or expense: printing posters? (a) income (b) expense
19. 19.Meera’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹20 (card paper)
    Expense: ₹120 (stall fee)
    How much is the loss (in ₹)?
20. 20.Which of these is an expense (money out)? (a) cash from selling plants (b) buying lemons (c) a card order paid (d) money from sales
21. 21.Which of these is an expense (money out)? (a) money from sales (b) printing posters (c) tutoring fees received (d) cash from selling plants
22. 22.Saanvi’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹20 (paper cups)
    Expense: ₹190 (ribbon)
    What is the profit (in ₹)?
23. 23.Kabir’s stall took in ₹130 on Friday, ₹50 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
24. 24.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) a selfie (d) the bill or receipt
25. 25.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
26. 26.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
27. 27.📅 When is the best time to update your records? (a) once a year (b) never (c) whenever you like (d) the same day
28. 28.Riya’s stall took in ₹160 on Friday, ₹90 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
29. 29.Lakshmi’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹470 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹200 (ribbon)
    What is the profit (in ₹)?
30. 30.📒 Income or expense: bus fare to the market? (a) income (b) expense
31. 31.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) bus fare to the market (d) payment for a cake order
32. 32.Riya’s income was ₹250 and the profit was ₹50. One expense was ₹60 (lemons). How much was the other expense, for stall fee (in ₹)?
33. 33.Vihaan’s income was ₹340 and the profit was ₹60. One expense was ₹100 (posters). How much was the other expense, for card paper (in ₹)?
34. 34.📒 Income or expense: buying lemons? (a) income (b) expense
35. 35.True or false: “paying the stall fee” is income (money in). (a) False (b) True
36. 36.Kabir’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹80 (ribbon)
    Expense: ₹180 (transport)
    What is the profit (in ₹)?
37. 37.Rohan’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹30 (ribbon)
    Expense: ₹150 (card paper)
    What is the profit (in ₹)?
38. 38.Arjun’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹50 (card paper)
    Expense: ₹240 (lemons)
    How much is the loss (in ₹)?
39. 39.Ishaan’s stall took in ₹270 on Friday, ₹360 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
40. 40.True or false: “cash from selling plants” is income (money in). (a) False (b) True

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