Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 819 · 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: “cash from selling plants” is an expense (money out). (a) True (b) False
2. 2.Kabir’s stall took in ₹170 on Friday, ₹400 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
3. 3.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
4. 4.True or false: “bus fare to the market” is income (money in). (a) False (b) True
5. 5.➖ Profit in your records = (a) just the income (b) income + expenses (c) expenses − income (d) income − expenses
6. 6.Farhan’s record for a rainy day:
   Income: ₹250 (sales)
   Expense: ₹170 (stall fee)
   Expense: ₹130 (posters)
   How much is the loss (in ₹)?
7. 7.Which of these is income (money in)? (a) bus fare to the market (b) payment for a cake order (c) printing posters (d) buying paper cups
8. 8.Kavya’s stall took in ₹370 on Friday, ₹110 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
9. 9.Arjun’s record for the day:
   Income: ₹60 (morning sales)
   Income: ₹90 (evening sales)
   Expense: ₹20 (stall fee)
   Expense: ₹120 (card paper)
   What is the profit (in ₹)?
10. 10.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
11. 11.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) once a year (d) never
12. 12.Rohan’s stall took in ₹130 on Friday, ₹60 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
13. 13.Ananya’s income was ₹460 and the profit was ₹210. One expense was ₹230 (stall fee). How much was the other expense, for paper cups (in ₹)?
14. 14.Ananya’s income was ₹370 and the profit was ₹340. One expense was ₹20 (paper cups). How much was the other expense, for card paper (in ₹)?
15. 15.Tara’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹160 (lemons)
    Expense: ₹120 (card paper)
    How much is the loss (in ₹)?
16. 16.Kavya’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹70 (lemons)
    Expense: ₹30 (sugar)
    What is the profit (in ₹)?
17. 17.True or false: “money from sales” is an expense (money out). (a) True (b) False
18. 18.True or false: “cash from selling plants” is income (money in). (a) True (b) False
19. 19.📒 Income or expense: paying the stall fee? (a) expense (b) income
20. 20.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) cash from selling plants (d) printing posters
21. 21.Tara’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹100 (posters)
    What is the profit (in ₹)?
22. 22.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
23. 23.Which of these is income (money in)? (a) tutoring fees received (b) printing posters (c) buying paper cups (d) paying the stall fee
24. 24.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
25. 25.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) paying the stall fee (d) cash from selling plants
26. 26.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) a selfie (d) only the bag
27. 27.Vihaan’s record for the day:
    Income: ₹350 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹170 (sugar)
    Expense: ₹30 (posters)
    What is the profit (in ₹)?
28. 28.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to fill a notebook (d) to look busy
29. 29.Ananya’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹180 (posters)
    What is the profit (in ₹)?
30. 30.Saanvi’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹160 (paper cups)
    Expense: ₹120 (lemons)
    What is the profit (in ₹)?
31. 31.📒 Income or expense: printing posters? (a) income (b) expense
32. 32.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
33. 33.📒 Income or expense: tutoring fees received? (a) income (b) expense
34. 34.Diya’s stall took in ₹50 on Friday, ₹240 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
35. 35.Dev’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹150 (posters)
    What is the profit (in ₹)?
36. 36.True or false: “a card order paid” is income (money in). (a) True (b) False
37. 37.Dev’s income was ₹160 and the profit was ₹40. One expense was ₹50 (transport). How much was the other expense, for paper cups (in ₹)?
38. 38.Ananya’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹50 (lemons)
    Expense: ₹210 (paper cups)
    How much is the loss (in ₹)?
39. 39.📒 Income or expense: payment for a cake order? (a) income (b) expense
40. 40.Aarav’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹140 (card paper)
    Expense: ₹30 (transport)
    What is the profit (in ₹)?

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