Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 836 · 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: buying paper cups? (a) income (b) expense
2. 2.📒 Income or expense: paying the stall fee? (a) income (b) expense
3. 3.📒 Income or expense: cash from selling plants? (a) expense (b) income
4. 4.Which of these is income (money in)? (a) payment for a cake order (b) paying the stall fee (c) buying paper cups (d) buying lemons
5. 5.True or false: “cash from selling plants” is income (money in). (a) False (b) True
6. 6.Riya’s income was ₹140 and the profit was ₹90. One expense was ₹20 (posters). How much was the other expense, for card paper (in ₹)?
7. 7.True or false: “paying the stall fee” is income (money in). (a) False (b) True
8. 8.➖ Profit in your records = (a) income − expenses (b) income + expenses (c) just the income (d) expenses − income
9. 9.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
10. 10.📒 Income or expense: tutoring fees received? (a) expense (b) income
11. 11.True or false: “buying lemons” is income (money in). (a) True (b) False
12. 12.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) bus fare to the market (d) tutoring fees received
13. 13.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) nothing (d) only the bag
14. 14.Meera’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹420 (evening sales)
    Expense: ₹150 (ribbon)
    Expense: ₹180 (stall fee)
    What is the profit (in ₹)?
15. 15.Zoya’s stall took in ₹230 on Friday, ₹160 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
16. 16.Lakshmi’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹110 (transport)
    Expense: ₹170 (stall fee)
    How much is the loss (in ₹)?
17. 17.Vihaan’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹10 (paper cups)
    Expense: ₹120 (lemons)
    How much is the loss (in ₹)?
18. 18.True or false: “payment for a cake order” is income (money in). (a) True (b) False
19. 19.Zoya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹50 (lemons)
    What is the profit (in ₹)?
20. 20.📒 Income or expense: payment for a cake order? (a) expense (b) income
21. 21.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) to fill a notebook (d) no reason
22. 22.Saanvi’s stall took in ₹190 on Friday, ₹170 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
23. 23.📒 Income or expense: a card order paid? (a) income (b) expense
24. 24.Which of these is an expense (money out)? (a) tutoring fees received (b) buying paper cups (c) payment for a cake order (d) money from sales
25. 25.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) buying lemons (d) money from sales
26. 26.Kabir’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹40 (card paper)
    Expense: ₹150 (paper cups)
    How much is the loss (in ₹)?
27. 27.Riya’s stall took in ₹280 on Friday, ₹270 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
28. 28.📒 Income or expense: printing posters? (a) income (b) expense
29. 29.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) a card order paid (d) buying paper cups
30. 30.Saanvi’s income was ₹440 and the profit was ₹100. One expense was ₹170 (sugar). How much was the other expense, for posters (in ₹)?
31. 31.Vihaan’s income was ₹230 and the profit was ₹160. One expense was ₹50 (transport). How much was the other expense, for card paper (in ₹)?
32. 32.📅 When is the best time to update your records? (a) once a year (b) never (c) the same day (d) whenever you like
33. 33.Gurpreet’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹80 (lemons)
    Expense: ₹120 (stall fee)
    What is the profit (in ₹)?
34. 34.Saanvi’s income was ₹400 and the profit was ₹260. One expense was ₹100 (stall fee). How much was the other expense, for lemons (in ₹)?
35. 35.Gurpreet’s stall took in ₹140 on Friday, ₹350 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
36. 36.True or false: “printing posters” is income (money in). (a) True (b) False
37. 37.Zoya’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹110 (card paper)
    What is the profit (in ₹)?
38. 38.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
39. 39.Tara’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹170 (paper cups)
    Expense: ₹30 (card paper)
    How much is the loss (in ₹)?
40. 40.True or false: “tutoring fees received” is income (money in). (a) True (b) False

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