Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 772 · 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.Vihaan’s income was ₹350 and the profit was ₹170. One expense was ₹100 (posters). How much was the other expense, for stall fee (in ₹)?
2. 2.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) no reason (d) to know the real profit
3. 3.➖ Profit in your records = (a) income − expenses (b) income + expenses (c) expenses − income (d) just the income
4. 4.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
5. 5.📒 Income or expense: cash from selling plants? (a) expense (b) income
6. 6.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
7. 7.📒 Income or expense: money from sales? (a) expense (b) income
8. 8.True or false: “buying lemons” is an expense (money out). (a) False (b) True
9. 9.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
10. 10.Which of these is income (money in)? (a) payment for a cake order (b) printing posters (c) buying paper cups (d) buying lemons
11. 11.True or false: “a card order paid” is an expense (money out). (a) False (b) True
12. 12.Rohan’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹190 (card paper)
    Expense: ₹40 (stall fee)
    What is the profit (in ₹)?
13. 13.True or false: “money from sales” is income (money in). (a) True (b) False
14. 14.Which of these is income (money in)? (a) a card order paid (b) buying lemons (c) paying the stall fee (d) buying paper cups
15. 15.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
16. 16.Kabir’s stall took in ₹390 on Friday, ₹380 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
17. 17.True or false: “buying lemons” is income (money in). (a) True (b) False
18. 18.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) buying lemons (d) cash from selling plants
19. 19.Aarav’s record for the day:
    Income: ₹350 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹110 (posters)
    Expense: ₹40 (ribbon)
    What is the profit (in ₹)?
20. 20.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) never (d) once a year
21. 21.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) a card order paid (d) printing posters
22. 22.📒 Income or expense: a card order paid? (a) income (b) expense
23. 23.Which of these is an expense (money out)? (a) money from sales (b) paying the stall fee (c) tutoring fees received (d) payment for a cake order
24. 24.📒 Income or expense: buying lemons? (a) income (b) expense
25. 25.Vihaan’s income was ₹140 and the profit was ₹90. One expense was ₹20 (ribbon). How much was the other expense, for transport (in ₹)?
26. 26.Farhan’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹90 (stall fee)
    Expense: ₹200 (sugar)
    What is the profit (in ₹)?
27. 27.True or false: “printing posters” is income (money in). (a) False (b) True
28. 28.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) buying lemons (d) cash from selling plants
29. 29.Saanvi’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹160 (lemons)
    Expense: ₹160 (transport)
    What is the profit (in ₹)?
30. 30.Kavya’s income was ₹140 and the profit was ₹40. One expense was ₹20 (lemons). How much was the other expense, for paper cups (in ₹)?
31. 31.Riya’s stall took in ₹160 on Friday, ₹190 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
32. 32.Kabir’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹180 (lemons)
    Expense: ₹180 (card paper)
    How much is the loss (in ₹)?
33. 33.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) cash from selling plants (d) bus fare to the market
34. 34.📒 Income or expense: printing posters? (a) income (b) expense
35. 35.Riya’s income was ₹150 and the profit was ₹60. One expense was ₹50 (card paper). How much was the other expense, for stall fee (in ₹)?
36. 36.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) the bill or receipt (d) only the bag
37. 37.Zoya’s stall took in ₹280 on Friday, ₹170 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
38. 38.Gurpreet’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹100 (sugar)
    Expense: ₹170 (posters)
    What is the profit (in ₹)?
39. 39.Rohan’s stall took in ₹60 on Friday, ₹230 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
40. 40.True or false: “money from sales” is an expense (money out). (a) False (b) True

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