Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 775 · 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 an expense (money out)? (a) tutoring fees received (b) bus fare to the market (c) payment for a cake order (d) money from sales
2. 2.Which of these is income (money in)? (a) tutoring fees received (b) buying lemons (c) paying the stall fee (d) printing posters
3. 3.Which of these is income (money in)? (a) payment for a cake order (b) paying the stall fee (c) bus fare to the market (d) printing posters
4. 4.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) paying the stall fee (d) payment for a cake order
5. 5.Which of these is income (money in)? (a) bus fare to the market (b) money from sales (c) buying paper cups (d) buying lemons
6. 6.Which of these is an expense (money out)? (a) buying paper cups (b) cash from selling plants (c) money from sales (d) a card order paid
7. 7.Ishaan’s record for the day:
   Income: ₹190 (morning sales)
   Income: ₹110 (evening sales)
   Expense: ₹130 (paper cups)
   Expense: ₹20 (posters)
   What is the profit (in ₹)?
8. 8.True or false: “buying lemons” is income (money in). (a) True (b) False
9. 9.Arjun’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹230 (evening sales)
   Expense: ₹70 (posters)
   Expense: ₹20 (ribbon)
   What is the profit (in ₹)?
10. 10.Lakshmi’s stall took in ₹80 on Friday, ₹390 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
11. 11.Kavya’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹200 (stall fee)
    Expense: ₹170 (card paper)
    What is the profit (in ₹)?
12. 12.Ananya’s stall took in ₹340 on Friday, ₹60 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
13. 13.Ishaan’s income was ₹310 and the profit was ₹230. One expense was ₹70 (lemons). How much was the other expense, for posters (in ₹)?
14. 14.Saanvi’s stall took in ₹370 on Friday, ₹340 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
15. 15.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) no reason (d) to look busy
16. 16.True or false: “bus fare to the market” is income (money in). (a) True (b) False
17. 17.📒 Income or expense: paying the stall fee? (a) income (b) expense
18. 18.Nisha’s income was ₹110 and the profit was ₹30. One expense was ₹70 (transport). How much was the other expense, for ribbon (in ₹)?
19. 19.Ananya’s stall took in ₹310 on Friday, ₹250 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
20. 20.Rohan’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹10 (transport)
    Expense: ₹150 (sugar)
    How much is the loss (in ₹)?
21. 21.📅 When is the best time to update your records? (a) whenever you like (b) never (c) the same day (d) once a year
22. 22.Zoya’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹40 (transport)
    Expense: ₹30 (card paper)
    What is the profit (in ₹)?
23. 23.Gurpreet’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹110 (ribbon)
    Expense: ₹30 (sugar)
    What is the profit (in ₹)?
24. 24.Riya’s stall took in ₹110 on Friday, ₹250 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
25. 25.Ishaan’s stall took in ₹270 on Friday, ₹330 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
26. 26.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) the bill or receipt (d) a selfie
27. 27.Rohan’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹240 (paper cups)
    Expense: ₹110 (stall fee)
    How much is the loss (in ₹)?
28. 28.True or false: “cash from selling plants” is income (money in). (a) True (b) False
29. 29.Which of these is income (money in)? (a) a card order paid (b) printing posters (c) buying lemons (d) bus fare to the market
30. 30.Riya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹160 (posters)
    Expense: ₹40 (lemons)
    What is the profit (in ₹)?
31. 31.📒 Income or expense: payment for a cake order? (a) expense (b) income
32. 32.Kabir’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹150 (paper cups)
    Expense: ₹120 (lemons)
    What is the profit (in ₹)?
33. 33.➖ Profit in your records = (a) just the income (b) income − expenses (c) income + expenses (d) expenses − income
34. 34.Zoya’s income was ₹180 and the profit was ₹120. One expense was ₹50 (ribbon). How much was the other expense, for stall fee (in ₹)?
35. 35.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
36. 36.Gurpreet’s stall took in ₹80 on Friday, ₹370 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
37. 37.📒 Income or expense: tutoring fees received? (a) income (b) expense
38. 38.True or false: “buying lemons” is an expense (money out). (a) False (b) True
39. 39.📒 Income or expense: cash from selling plants? (a) income (b) expense
40. 40.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True

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