Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 767 · 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: “money from sales” is an expense (money out). (a) False (b) True
2. 2.Meera’s record for the day:
   Income: ₹300 (morning sales)
   Income: ₹180 (evening sales)
   Expense: ₹50 (paper cups)
   Expense: ₹130 (sugar)
   What is the profit (in ₹)?
3. 3.Kavya’s record for a rainy day:
   Income: ₹190 (sales)
   Expense: ₹250 (paper cups)
   Expense: ₹40 (posters)
   How much is the loss (in ₹)?
4. 4.True or false: “payment for a cake order” is income (money in). (a) True (b) False
5. 5.Which of these is income (money in)? (a) a card order paid (b) buying paper cups (c) paying the stall fee (d) bus fare to the market
6. 6.📒 Income or expense: bus fare to the market? (a) income (b) expense
7. 7.📅 When is the best time to update your records? (a) the same day (b) once a year (c) never (d) whenever you like
8. 8.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) nothing (d) a selfie
9. 9.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) money from sales (d) buying lemons
10. 10.Arjun’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹80 (posters)
    Expense: ₹20 (ribbon)
    How much is the loss (in ₹)?
11. 11.Which of these is an expense (money out)? (a) bus fare to the market (b) a card order paid (c) cash from selling plants (d) payment for a cake order
12. 12.📒 Income or expense: a card order paid? (a) expense (b) income
13. 13.Riya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹110 (posters)
    Expense: ₹40 (stall fee)
    What is the profit (in ₹)?
14. 14.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) expenses − income (d) just the income
15. 15.Which of these is income (money in)? (a) tutoring fees received (b) buying lemons (c) bus fare to the market (d) printing posters
16. 16.Which of these is an expense (money out)? (a) buying paper cups (b) cash from selling plants (c) payment for a cake order (d) a card order paid
17. 17.Kabir’s stall took in ₹140 on Friday, ₹370 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
18. 18.📒 Income or expense: payment for a cake order? (a) income (b) expense
19. 19.True or false: “printing posters” is income (money in). (a) False (b) True
20. 20.Ishaan’s stall took in ₹120 on Friday, ₹110 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
21. 21.Lakshmi’s income was ₹250 and the profit was ₹40. One expense was ₹100 (transport). How much was the other expense, for sugar (in ₹)?
22. 22.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
23. 23.Ishaan’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹160 (sugar)
    Expense: ₹90 (posters)
    How much is the loss (in ₹)?
24. 24.Diya’s stall took in ₹160 on Friday, ₹400 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
25. 25.True or false: “bus fare to the market” is income (money in). (a) True (b) False
26. 26.Joseph’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹110 (stall fee)
    Expense: ₹10 (posters)
    How much is the loss (in ₹)?
27. 27.Kabir’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹80 (paper cups)
    Expense: ₹90 (ribbon)
    How much is the loss (in ₹)?
28. 28.Dev’s stall took in ₹110 on Friday, ₹50 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
29. 29.Ishaan’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹110 (stall fee)
    Expense: ₹70 (ribbon)
    How much is the loss (in ₹)?
30. 30.Ananya’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹80 (ribbon)
    Expense: ₹240 (sugar)
    How much is the loss (in ₹)?
31. 31.Dev’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹160 (card paper)
    Expense: ₹30 (lemons)
    What is the profit (in ₹)?
32. 32.Farhan’s stall took in ₹150 on Friday, ₹100 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
33. 33.True or false: “money from sales” is income (money in). (a) True (b) False
34. 34.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) no reason (d) to know the real profit
35. 35.Lakshmi’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹30 (paper cups)
    Expense: ₹120 (ribbon)
    How much is the loss (in ₹)?
36. 36.📒 Income or expense: money from sales? (a) income (b) expense
37. 37.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) printing posters (d) cash from selling plants
38. 38.Ananya’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹10 (lemons)
    Expense: ₹320 (paper cups)
    How much is the loss (in ₹)?
39. 39.📒 Income or expense: tutoring fees received? (a) expense (b) income
40. 40.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) payment for a cake order (d) printing posters

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