Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 848 · 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.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to fill a notebook (d) to look busy
2. 2.True or false: “buying paper cups” is income (money in). (a) True (b) False
3. 3.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) a card order paid (d) buying lemons
4. 4.Joseph’s income was ₹360 and the profit was ₹270. One expense was ₹80 (card paper). How much was the other expense, for stall fee (in ₹)?
5. 5.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) tutoring fees received (d) paying the stall fee
6. 6.True or false: “a card order paid” is income (money in). (a) True (b) False
7. 7.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) bus fare to the market (d) payment for a cake order
8. 8.Ishaan’s record for a rainy day:
   Income: ₹90 (sales)
   Expense: ₹60 (paper cups)
   Expense: ₹40 (posters)
   How much is the loss (in ₹)?
9. 9.Zoya’s stall took in ₹50 on Friday, ₹250 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
10. 10.True or false: “money from sales” is income (money in). (a) True (b) False
11. 11.True or false: “money from sales” is an expense (money out). (a) False (b) True
12. 12.📅 When is the best time to update your records? (a) never (b) whenever you like (c) once a year (d) the same day
13. 13.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
14. 14.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) buying paper cups (d) money from sales
15. 15.Vihaan’s record for the day:
    Income: ₹430 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹160 (stall fee)
    Expense: ₹180 (transport)
    What is the profit (in ₹)?
16. 16.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
17. 17.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) just the income (d) income + expenses
18. 18.Kabir’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹250 (lemons)
    Expense: ₹80 (sugar)
    How much is the loss (in ₹)?
19. 19.Vihaan’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹230 (card paper)
    Expense: ₹30 (posters)
    How much is the loss (in ₹)?
20. 20.Which of these is an expense (money out)? (a) money from sales (b) paying the stall fee (c) tutoring fees received (d) payment for a cake order
21. 21.True or false: “paying the stall fee” is income (money in). (a) False (b) True
22. 22.Zoya’s stall took in ₹90 on Friday, ₹230 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
23. 23.Tara’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹30 (card paper)
    Expense: ₹200 (paper cups)
    How much is the loss (in ₹)?
24. 24.Gurpreet’s income was ₹190 and the profit was ₹30. One expense was ₹50 (transport). How much was the other expense, for lemons (in ₹)?
25. 25.Diya’s income was ₹170 and the profit was ₹120. One expense was ₹30 (paper cups). How much was the other expense, for ribbon (in ₹)?
26. 26.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) nothing (d) a selfie
27. 27.Meera’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹80 (transport)
    Expense: ₹110 (sugar)
    How much is the loss (in ₹)?
28. 28.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
29. 29.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) bus fare to the market (d) a card order paid
30. 30.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) cash from selling plants (d) printing posters
31. 31.📒 Income or expense: buying paper cups? (a) income (b) expense
32. 32.True or false: “bus fare to the market” is income (money in). (a) False (b) True
33. 33.Aarav’s income was ₹470 and the profit was ₹190. One expense was ₹40 (card paper). How much was the other expense, for transport (in ₹)?
34. 34.Rohan’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹50 (transport)
    Expense: ₹70 (ribbon)
    What is the profit (in ₹)?
35. 35.Zoya’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹80 (card paper)
    Expense: ₹30 (ribbon)
    What is the profit (in ₹)?
36. 36.Arjun’s income was ₹150 and the profit was ₹50. One expense was ₹60 (paper cups). How much was the other expense, for lemons (in ₹)?
37. 37.📒 Income or expense: buying lemons? (a) income (b) expense
38. 38.True or false: “printing posters” is an expense (money out). (a) True (b) False
39. 39.Ananya’s stall took in ₹190 on Friday, ₹360 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
40. 40.Dev’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹30 (paper cups)
    Expense: ₹30 (transport)
    How much is the loss (in ₹)?

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