Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 857 · 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: “a card order paid” is income (money in). (a) True (b) False
2. 2.📅 When is the best time to update your records? (a) once a year (b) the same day (c) whenever you like (d) never
3. 3.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) no reason (d) to fill a notebook
4. 4.Gurpreet’s stall took in ₹140 on Friday, ₹230 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
5. 5.Aarav’s income was ₹420 and the profit was ₹150. One expense was ₹120 (stall fee). How much was the other expense, for card paper (in ₹)?
6. 6.True or false: “buying lemons” is income (money in). (a) True (b) False
7. 7.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) the bill or receipt (d) a selfie
8. 8.➖ Profit in your records = (a) income − expenses (b) income + expenses (c) expenses − income (d) just the income
9. 9.📒 Income or expense: paying the stall fee? (a) income (b) expense
10. 10.Gurpreet’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹20 (paper cups)
    Expense: ₹100 (stall fee)
    What is the profit (in ₹)?
11. 11.True or false: “tutoring fees received” is income (money in). (a) False (b) True
12. 12.True or false: “money from sales” is income (money in). (a) False (b) True
13. 13.True or false: “paying the stall fee” is income (money in). (a) False (b) True
14. 14.Lakshmi’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹120 (transport)
    Expense: ₹130 (paper cups)
    What is the profit (in ₹)?
15. 15.Ishaan’s income was ₹320 and the profit was ₹70. One expense was ₹190 (paper cups). How much was the other expense, for card paper (in ₹)?
16. 16.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) payment for a cake order (d) buying lemons
17. 17.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
18. 18.📒 Income or expense: tutoring fees received? (a) income (b) expense
19. 19.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
20. 20.Which of these is an expense (money out)? (a) buying paper cups (b) tutoring fees received (c) a card order paid (d) cash from selling plants
21. 21.Zoya’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹20 (stall fee)
    Expense: ₹200 (posters)
    How much is the loss (in ₹)?
22. 22.Tara’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹200 (card paper)
    Expense: ₹40 (transport)
    What is the profit (in ₹)?
23. 23.True or false: “bus fare to the market” is income (money in). (a) True (b) False
24. 24.Gurpreet’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹50 (stall fee)
    Expense: ₹120 (lemons)
    What is the profit (in ₹)?
25. 25.Meera’s income was ₹310 and the profit was ₹280. One expense was ₹10 (lemons). How much was the other expense, for card paper (in ₹)?
26. 26.📒 Income or expense: a card order paid? (a) income (b) expense
27. 27.📒 Income or expense: buying paper cups? (a) expense (b) income
28. 28.Ananya’s stall took in ₹170 on Friday, ₹120 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
29. 29.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) printing posters (d) payment for a cake order
30. 30.📒 Income or expense: money from sales? (a) income (b) expense
31. 31.Kabir’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹60 (lemons)
    Expense: ₹140 (stall fee)
    What is the profit (in ₹)?
32. 32.Kavya’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹60 (card paper)
    Expense: ₹140 (ribbon)
    What is the profit (in ₹)?
33. 33.Arjun’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹100 (paper cups)
    Expense: ₹60 (transport)
    What is the profit (in ₹)?
34. 34.📒 Income or expense: payment for a cake order? (a) expense (b) income
35. 35.Tara’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹70 (posters)
    Expense: ₹200 (sugar)
    How much is the loss (in ₹)?
36. 36.True or false: “printing posters” is an expense (money out). (a) True (b) False
37. 37.📒 Income or expense: printing posters? (a) expense (b) income
38. 38.Aarav’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹170 (lemons)
    Expense: ₹30 (paper cups)
    What is the profit (in ₹)?
39. 39.Tara’s income was ₹490 and the profit was ₹40. One expense was ₹340 (lemons). How much was the other expense, for stall fee (in ₹)?
40. 40.Dev’s stall took in ₹340 on Friday, ₹340 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?

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