Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 764 · 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.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) printing posters (d) money from sales
2. 2.➖ Profit in your records = (a) just the income (b) expenses − income (c) income − expenses (d) income + expenses
3. 3.True or false: “paying the stall fee” is income (money in). (a) False (b) True
4. 4.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) buying paper cups (d) a card order paid
5. 5.Arjun’s record for the day:
   Income: ₹370 (morning sales)
   Income: ₹120 (evening sales)
   Expense: ₹130 (ribbon)
   Expense: ₹200 (paper cups)
   What is the profit (in ₹)?
6. 6.Joseph’s income was ₹110 and the profit was ₹50. One expense was ₹20 (ribbon). How much was the other expense, for posters (in ₹)?
7. 7.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) money from sales (d) buying lemons
8. 8.Lakshmi’s stall took in ₹90 on Friday, ₹200 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
9. 9.Zoya’s record for a rainy day:
   Income: ₹120 (sales)
   Expense: ₹150 (sugar)
   Expense: ₹50 (ribbon)
   How much is the loss (in ₹)?
10. 10.Aarav’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹80 (transport)
    Expense: ₹60 (ribbon)
    What is the profit (in ₹)?
11. 11.📒 Income or expense: bus fare to the market? (a) expense (b) income
12. 12.📒 Income or expense: buying lemons? (a) income (b) expense
13. 13.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
14. 14.Kavya’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹310 (ribbon)
    Expense: ₹30 (stall fee)
    How much is the loss (in ₹)?
15. 15.True or false: “printing posters” is income (money in). (a) False (b) True
16. 16.Aarav’s income was ₹420 and the profit was ₹150. One expense was ₹200 (sugar). How much was the other expense, for posters (in ₹)?
17. 17.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) a selfie (d) the bill or receipt
18. 18.Dev’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹430 (evening sales)
    Expense: ₹90 (stall fee)
    Expense: ₹160 (card paper)
    What is the profit (in ₹)?
19. 19.Kavya’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹60 (stall fee)
    Expense: ₹30 (ribbon)
    What is the profit (in ₹)?
20. 20.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) printing posters (d) payment for a cake order
21. 21.📅 When is the best time to update your records? (a) the same day (b) never (c) once a year (d) whenever you like
22. 22.True or false: “buying paper cups” is income (money in). (a) False (b) True
23. 23.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
24. 24.📒 Income or expense: money from sales? (a) expense (b) income
25. 25.Tara’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹100 (paper cups)
    Expense: ₹240 (stall fee)
    How much is the loss (in ₹)?
26. 26.Rohan’s stall took in ₹220 on Friday, ₹90 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
27. 27.📒 Income or expense: cash from selling plants? (a) income (b) expense
28. 28.Ishaan’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹140 (lemons)
    Expense: ₹120 (paper cups)
    How much is the loss (in ₹)?
29. 29.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) paying the stall fee (d) cash from selling plants
30. 30.True or false: “money from sales” is an expense (money out). (a) False (b) True
31. 31.Zoya’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹160 (card paper)
    Expense: ₹50 (stall fee)
    What is the profit (in ₹)?
32. 32.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) tutoring fees received (d) buying paper cups
33. 33.📒 Income or expense: paying the stall fee? (a) income (b) expense
34. 34.📒 Income or expense: payment for a cake order? (a) income (b) expense
35. 35.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to fill a notebook (d) to know the real profit
36. 36.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) bus fare to the market (d) payment for a cake order
37. 37.Kabir’s income was ₹480 and the profit was ₹440. One expense was ₹10 (transport). How much was the other expense, for ribbon (in ₹)?
38. 38.Tara’s stall took in ₹370 on Friday, ₹90 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
39. 39.Kabir’s stall took in ₹360 on Friday, ₹310 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
40. 40.Which of these is income (money in)? (a) tutoring fees received (b) printing posters (c) buying lemons (d) paying the stall fee

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