Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 765 · 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.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) money from sales (d) buying lemons
3. 3.Rohan’s record for a rainy day:
   Income: ₹260 (sales)
   Expense: ₹120 (paper cups)
   Expense: ₹180 (ribbon)
   How much is the loss (in ₹)?
4. 4.True or false: “printing posters” is an expense (money out). (a) False (b) True
5. 5.📒 Income or expense: bus fare to the market? (a) expense (b) income
6. 6.📒 Income or expense: cash from selling plants? (a) expense (b) income
7. 7.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) the bill or receipt (d) nothing
8. 8.Kabir’s record for a rainy day:
   Income: ₹240 (sales)
   Expense: ₹40 (stall fee)
   Expense: ₹240 (paper cups)
   How much is the loss (in ₹)?
9. 9.📒 Income or expense: buying lemons? (a) expense (b) income
10. 10.Tara’s record for the day:
    Income: ₹420 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹40 (stall fee)
    Expense: ₹170 (sugar)
    What is the profit (in ₹)?
11. 11.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
12. 12.Kavya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹60 (stall fee)
    Expense: ₹90 (ribbon)
    What is the profit (in ₹)?
13. 13.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
14. 14.Diya’s income was ₹320 and the profit was ₹120. One expense was ₹100 (sugar). How much was the other expense, for card paper (in ₹)?
15. 15.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
16. 16.Gurpreet’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹40 (lemons)
    Expense: ₹120 (stall fee)
    What is the profit (in ₹)?
17. 17.Diya’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹120 (paper cups)
    Expense: ₹120 (lemons)
    What is the profit (in ₹)?
18. 18.True or false: “bus fare to the market” is income (money in). (a) False (b) True
19. 19.True or false: “a card order paid” is income (money in). (a) False (b) True
20. 20.Kabir’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹50 (sugar)
    Expense: ₹150 (paper cups)
    How much is the loss (in ₹)?
21. 21.True or false: “buying lemons” is an expense (money out). (a) False (b) True
22. 22.Rohan’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?
23. 23.Nisha’s income was ₹130 and the profit was ₹10. One expense was ₹30 (transport). How much was the other expense, for paper cups (in ₹)?
24. 24.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) income + expenses (d) just the income
25. 25.Diya’s stall took in ₹100 on Friday, ₹380 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
26. 26.Ishaan’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹300 (sugar)
    Expense: ₹50 (paper cups)
    How much is the loss (in ₹)?
27. 27.Dev’s income was ₹320 and the profit was ₹110. One expense was ₹190 (paper cups). How much was the other expense, for card paper (in ₹)?
28. 28.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) money from sales (d) bus fare to the market
29. 29.Gurpreet’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹100 (card paper)
    Expense: ₹80 (sugar)
    What is the profit (in ₹)?
30. 30.📒 Income or expense: payment for a cake order? (a) expense (b) income
31. 31.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) tutoring fees received (d) paying the stall fee
32. 32.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
33. 33.Aarav’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹100 (stall fee)
    Expense: ₹40 (sugar)
    What is the profit (in ₹)?
34. 34.Meera’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹170 (ribbon)
    Expense: ₹190 (paper cups)
    How much is the loss (in ₹)?
35. 35.True or false: “paying the stall fee” is income (money in). (a) True (b) False
36. 36.True or false: “buying lemons” is income (money in). (a) False (b) True
37. 37.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
38. 38.📒 Income or expense: buying paper cups? (a) expense (b) income
39. 39.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) payment for a cake order (d) buying lemons
40. 40.True or false: “printing posters” is income (money in). (a) True (b) False

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