Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 821 · 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.Kabir’s income was ₹170 and the profit was ₹120. One expense was ₹10 (lemons). How much was the other expense, for stall fee (in ₹)?
2. 2.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) only the bag (d) nothing
3. 3.➖ Profit in your records = (a) expenses − income (b) just the income (c) income + expenses (d) income − expenses
4. 4.📒 Income or expense: paying the stall fee? (a) income (b) expense
5. 5.Kabir’s stall took in ₹100 on Friday, ₹80 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
6. 6.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
7. 7.Rohan’s record for the day:
   Income: ₹80 (morning sales)
   Income: ₹180 (evening sales)
   Expense: ₹50 (stall fee)
   Expense: ₹50 (lemons)
   What is the profit (in ₹)?
8. 8.True or false: “printing posters” is income (money in). (a) False (b) True
9. 9.True or false: “tutoring fees received” is income (money in). (a) True (b) False
10. 10.📒 Income or expense: payment for a cake order? (a) income (b) expense
11. 11.True or false: “money from sales” is income (money in). (a) True (b) False
12. 12.Riya’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹160 (ribbon)
    Expense: ₹40 (posters)
    How much is the loss (in ₹)?
13. 13.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) tutoring fees received (d) buying paper cups
14. 14.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to fill a notebook (d) to know the real profit
15. 15.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
16. 16.Rohan’s stall took in ₹150 on Friday, ₹150 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
17. 17.True or false: “buying paper cups” is income (money in). (a) False (b) True
18. 18.True or false: “money from sales” is an expense (money out). (a) False (b) True
19. 19.True or false: “bus fare to the market” is income (money in). (a) True (b) False
20. 20.True or false: “a card order paid” is income (money in). (a) True (b) False
21. 21.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) printing posters (d) money from sales
22. 22.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
23. 23.Dev’s income was ₹360 and the profit was ₹330. One expense was ₹20 (transport). How much was the other expense, for sugar (in ₹)?
24. 24.📒 Income or expense: tutoring fees received? (a) income (b) expense
25. 25.Riya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹470 (evening sales)
    Expense: ₹60 (lemons)
    Expense: ₹170 (card paper)
    What is the profit (in ₹)?
26. 26.Which of these is an expense (money out)? (a) paying the stall fee (b) cash from selling plants (c) a card order paid (d) money from sales
27. 27.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) cash from selling plants (d) paying the stall fee
28. 28.Joseph’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹160 (stall fee)
    Expense: ₹80 (paper cups)
    How much is the loss (in ₹)?
29. 29.True or false: “a card order paid” is an expense (money out). (a) True (b) False
30. 30.Kavya’s stall took in ₹280 on Friday, ₹110 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
31. 31.Which of these is an expense (money out)? (a) a card order paid (b) buying lemons (c) payment for a cake order (d) cash from selling plants
32. 32.Gurpreet’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹30 (card paper)
    Expense: ₹120 (ribbon)
    How much is the loss (in ₹)?
33. 33.Lakshmi’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹470 (evening sales)
    Expense: ₹70 (posters)
    Expense: ₹180 (lemons)
    What is the profit (in ₹)?
34. 34.Tara’s stall took in ₹180 on Friday, ₹100 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
35. 35.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) bus fare to the market (d) tutoring fees received
36. 36.True or false: “printing posters” is an expense (money out). (a) True (b) False
37. 37.Saanvi’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹40 (stall fee)
    Expense: ₹160 (card paper)
    How much is the loss (in ₹)?
38. 38.Diya’s stall took in ₹80 on Friday, ₹150 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
39. 39.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
40. 40.📒 Income or expense: buying lemons? (a) expense (b) income

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