Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 75 · 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: payment for a cake order? (a) income (b) expense
2. 2.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) bus fare to the market (d) tutoring fees received
3. 3.True or false: “a card order paid” is income (money in). (a) True (b) False
4. 4.📒 Income or expense: a card order paid? (a) income (b) expense
5. 5.Ananya’s stall took in ₹110 on Friday, ₹400 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
6. 6.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
7. 7.📅 When is the best time to update your records? (a) once a year (b) never (c) whenever you like (d) the same day
8. 8.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) money from sales (d) buying lemons
9. 9.Which of these is an expense (money out)? (a) money from sales (b) buying paper cups (c) cash from selling plants (d) tutoring fees received
10. 10.Ishaan’s stall took in ₹290 on Friday, ₹350 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
11. 11.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
12. 12.True or false: “tutoring fees received” is income (money in). (a) False (b) True
13. 13.Meera’s stall took in ₹230 on Friday, ₹260 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
14. 14.True or false: “money from sales” is income (money in). (a) False (b) True
15. 15.Joseph’s stall took in ₹230 on Friday, ₹270 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
16. 16.True or false: “cash from selling plants” is income (money in). (a) True (b) False
17. 17.📒 Income or expense: bus fare to the market? (a) income (b) expense
18. 18.True or false: “printing posters” is an expense (money out). (a) True (b) False
19. 19.True or false: “money from sales” is an expense (money out). (a) False (b) True
20. 20.Farhan’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹140 (lemons)
    Expense: ₹50 (card paper)
    How much is the loss (in ₹)?
21. 21.Joseph’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹50 (stall fee)
    Expense: ₹80 (posters)
    What is the profit (in ₹)?
22. 22.📒 Income or expense: tutoring fees received? (a) income (b) expense
23. 23.📒 Income or expense: buying paper cups? (a) expense (b) income
24. 24.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to know the real profit (d) to fill a notebook
25. 25.Zoya’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹120 (lemons)
    What is the profit (in ₹)?
26. 26.Tara’s stall took in ₹240 on Friday, ₹230 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
27. 27.Which of these is income (money in)? (a) paying the stall fee (b) payment for a cake order (c) printing posters (d) buying paper cups
28. 28.Lakshmi’s income was ₹440 and the profit was ₹50. One expense was ₹190 (stall fee). How much was the other expense, for posters (in ₹)?
29. 29.True or false: “bus fare to the market” is income (money in). (a) True (b) False
30. 30.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) printing posters (d) payment for a cake order
31. 31.Arjun’s income was ₹330 and the profit was ₹110. One expense was ₹70 (card paper). How much was the other expense, for ribbon (in ₹)?
32. 32.Gurpreet’s income was ₹210 and the profit was ₹80. One expense was ₹90 (transport). How much was the other expense, for paper cups (in ₹)?
33. 33.Riya’s stall took in ₹270 on Friday, ₹340 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
34. 34.➖ Profit in your records = (a) income + expenses (b) just the income (c) expenses − income (d) income − expenses
35. 35.Zoya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹140 (paper cups)
    Expense: ₹120 (sugar)
    What is the profit (in ₹)?
36. 36.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
37. 37.Saanvi’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹170 (sugar)
    Expense: ₹100 (paper cups)
    What is the profit (in ₹)?
38. 38.Farhan’s income was ₹290 and the profit was ₹190. One expense was ₹10 (lemons). How much was the other expense, for transport (in ₹)?
39. 39.Arjun’s income was ₹320 and the profit was ₹290. One expense was ₹20 (transport). How much was the other expense, for ribbon (in ₹)?
40. 40.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt

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