Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 773 · 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: tutoring fees received? (a) income (b) expense
2. 2.True or false: “paying the stall fee” is income (money in). (a) False (b) True
3. 3.📒 Income or expense: printing posters? (a) income (b) expense
4. 4.Joseph’s record for a rainy day:
   Income: ₹60 (sales)
   Expense: ₹70 (lemons)
   Expense: ₹80 (paper cups)
   How much is the loss (in ₹)?
5. 5.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) paying the stall fee (d) money from sales
6. 6.Gurpreet’s stall took in ₹160 on Friday, ₹340 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
7. 7.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) a selfie (d) the bill or receipt
8. 8.Ishaan’s record for a rainy day:
   Income: ₹220 (sales)
   Expense: ₹50 (card paper)
   Expense: ₹180 (stall fee)
   How much is the loss (in ₹)?
9. 9.Which of these is income (money in)? (a) buying lemons (b) money from sales (c) bus fare to the market (d) paying the stall fee
10. 10.Ishaan’s income was ₹440 and the profit was ₹150. One expense was ₹260 (sugar). How much was the other expense, for stall fee (in ₹)?
11. 11.True or false: “money from sales” is an expense (money out). (a) True (b) False
12. 12.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
13. 13.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) a card order paid (d) buying paper cups
14. 14.📅 When is the best time to update your records? (a) the same day (b) never (c) once a year (d) whenever you like
15. 15.Farhan’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹140 (sugar)
    Expense: ₹100 (posters)
    What is the profit (in ₹)?
16. 16.📒 Income or expense: a card order paid? (a) expense (b) income
17. 17.Saanvi’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹460 (evening sales)
    Expense: ₹160 (lemons)
    Expense: ₹140 (paper cups)
    What is the profit (in ₹)?
18. 18.📒 Income or expense: paying the stall fee? (a) income (b) expense
19. 19.True or false: “buying lemons” is an expense (money out). (a) False (b) True
20. 20.Dev’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹40 (stall fee)
    Expense: ₹110 (posters)
    How much is the loss (in ₹)?
21. 21.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to look busy (d) to know the real profit
22. 22.➖ Profit in your records = (a) income − expenses (b) just the income (c) income + expenses (d) expenses − income
23. 23.True or false: “a card order paid” is an expense (money out). (a) False (b) True
24. 24.Riya’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹50 (stall fee)
    Expense: ₹170 (card paper)
    How much is the loss (in ₹)?
25. 25.Arjun’s record for the day:
    Income: ₹440 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹180 (sugar)
    Expense: ₹150 (lemons)
    What is the profit (in ₹)?
26. 26.📒 Income or expense: money from sales? (a) expense (b) income
27. 27.📒 Income or expense: buying paper cups? (a) expense (b) income
28. 28.Ishaan’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹10 (lemons)
    Expense: ₹180 (paper cups)
    How much is the loss (in ₹)?
29. 29.Which of these is income (money in)? (a) paying the stall fee (b) tutoring fees received (c) buying paper cups (d) buying lemons
30. 30.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
31. 31.Ananya’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹30 (paper cups)
    Expense: ₹270 (stall fee)
    How much is the loss (in ₹)?
32. 32.Ishaan’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹60 (ribbon)
    Expense: ₹40 (posters)
    What is the profit (in ₹)?
33. 33.Arjun’s income was ₹380 and the profit was ₹190. One expense was ₹40 (transport). How much was the other expense, for sugar (in ₹)?
34. 34.Rohan’s stall took in ₹140 on Friday, ₹140 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
35. 35.Which of these is an expense (money out)? (a) money from sales (b) bus fare to the market (c) tutoring fees received (d) a card order paid
36. 36.Kavya’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹60 (stall fee)
    Expense: ₹200 (lemons)
    How much is the loss (in ₹)?
37. 37.Ishaan’s income was ₹240 and the profit was ₹220. One expense was ₹10 (stall fee). How much was the other expense, for posters (in ₹)?
38. 38.Farhan’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹110 (paper cups)
    Expense: ₹140 (sugar)
    How much is the loss (in ₹)?
39. 39.Gurpreet’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹50 (ribbon)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
40. 40.True or false: “money from sales” is income (money in). (a) False (b) True

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