Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 742 · 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: bus fare to the market? (a) expense (b) income
2. 2.Which of these is income (money in)? (a) buying paper cups (b) cash from selling plants (c) printing posters (d) bus fare to the market
3. 3.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to look busy (d) to know the real profit
4. 4.📅 When is the best time to update your records? (a) never (b) whenever you like (c) once a year (d) the same day
5. 5.Kavya’s record for the day:
   Income: ₹90 (morning sales)
   Income: ₹140 (evening sales)
   Expense: ₹90 (lemons)
   Expense: ₹120 (card paper)
   What is the profit (in ₹)?
6. 6.📒 Income or expense: payment for a cake order? (a) income (b) expense
7. 7.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
8. 8.Farhan’s record for the day:
   Income: ₹350 (morning sales)
   Income: ₹10 (evening sales)
   Expense: ₹130 (sugar)
   Expense: ₹180 (ribbon)
   What is the profit (in ₹)?
9. 9.➖ Profit in your records = (a) just the income (b) expenses − income (c) income + expenses (d) income − expenses
10. 10.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) nothing (d) the bill or receipt
11. 11.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) bus fare to the market (d) money from sales
12. 12.📒 Income or expense: paying the stall fee? (a) income (b) expense
13. 13.📒 Income or expense: cash from selling plants? (a) expense (b) income
14. 14.True or false: “cash from selling plants” is income (money in). (a) True (b) False
15. 15.Ananya’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹70 (ribbon)
    Expense: ₹170 (paper cups)
    What is the profit (in ₹)?
16. 16.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
17. 17.True or false: “money from sales” is an expense (money out). (a) False (b) True
18. 18.Ananya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹50 (sugar)
    Expense: ₹160 (paper cups)
    What is the profit (in ₹)?
19. 19.True or false: “money from sales” is income (money in). (a) True (b) False
20. 20.Rohan’s income was ₹320 and the profit was ₹30. One expense was ₹10 (lemons). How much was the other expense, for paper cups (in ₹)?
21. 21.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
22. 22.Dev’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹190 (stall fee)
    Expense: ₹60 (transport)
    What is the profit (in ₹)?
23. 23.Aarav’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹110 (stall fee)
    Expense: ₹80 (posters)
    What is the profit (in ₹)?
24. 24.Rohan’s stall took in ₹380 on Friday, ₹80 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
25. 25.📒 Income or expense: money from sales? (a) expense (b) income
26. 26.True or false: “bus fare to the market” is income (money in). (a) False (b) True
27. 27.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) payment for a cake order (d) buying lemons
28. 28.Vihaan’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹110 (paper cups)
    How much is the loss (in ₹)?
29. 29.Saanvi’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹150 (stall fee)
    Expense: ₹80 (transport)
    What is the profit (in ₹)?
30. 30.Joseph’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹170 (card paper)
    Expense: ₹110 (posters)
    How much is the loss (in ₹)?
31. 31.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
32. 32.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) bus fare to the market (d) money from sales
33. 33.📒 Income or expense: a card order paid? (a) income (b) expense
34. 34.Rohan’s income was ₹270 and the profit was ₹30. One expense was ₹140 (posters). How much was the other expense, for sugar (in ₹)?
35. 35.📒 Income or expense: printing posters? (a) expense (b) income
36. 36.Zoya’s income was ₹330 and the profit was ₹310. One expense was ₹10 (lemons). How much was the other expense, for posters (in ₹)?
37. 37.📒 Income or expense: tutoring fees received? (a) income (b) expense
38. 38.Ishaan’s stall took in ₹390 on Friday, ₹130 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
39. 39.Which of these is income (money in)? (a) tutoring fees received (b) buying paper cups (c) printing posters (d) bus fare to the market
40. 40.Kavya’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹110 (ribbon)
    Expense: ₹120 (paper cups)
    What is the profit (in ₹)?

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