Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 863 · 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 income (money in). (a) True (b) False
2. 2.📒 Income or expense: printing posters? (a) expense (b) income
3. 3.True or false: “a card order paid” is income (money in). (a) False (b) True
4. 4.Zoya’s record for the day:
   Income: ₹390 (morning sales)
   Income: ₹80 (evening sales)
   Expense: ₹150 (posters)
   Expense: ₹200 (ribbon)
   What is the profit (in ₹)?
5. 5.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) buying paper cups (d) a card order paid
6. 6.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) payment for a cake order (d) paying the stall fee
7. 7.Tara’s record for the day:
   Income: ₹210 (morning sales)
   Income: ₹250 (evening sales)
   Expense: ₹120 (stall fee)
   Expense: ₹50 (transport)
   What is the profit (in ₹)?
8. 8.Saanvi’s record for the day:
   Income: ₹240 (morning sales)
   Income: ₹10 (evening sales)
   Expense: ₹70 (lemons)
   Expense: ₹60 (paper cups)
   What is the profit (in ₹)?
9. 9.➖ Profit in your records = (a) just the income (b) income + expenses (c) income − expenses (d) expenses − income
10. 10.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt
11. 11.True or false: “printing posters” is income (money in). (a) False (b) True
12. 12.Arjun’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹200 (ribbon)
    Expense: ₹50 (paper cups)
    How much is the loss (in ₹)?
13. 13.Rohan’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹170 (ribbon)
    Expense: ₹60 (posters)
    How much is the loss (in ₹)?
14. 14.Rohan’s stall took in ₹380 on Friday, ₹240 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
15. 15.True or false: “a card order paid” is an expense (money out). (a) True (b) False
16. 16.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
17. 17.📒 Income or expense: payment for a cake order? (a) expense (b) income
18. 18.Gurpreet’s income was ₹490 and the profit was ₹290. One expense was ₹70 (posters). How much was the other expense, for ribbon (in ₹)?
19. 19.Ananya’s stall took in ₹180 on Friday, ₹200 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
20. 20.Zoya’s income was ₹210 and the profit was ₹150. One expense was ₹20 (card paper). How much was the other expense, for lemons (in ₹)?
21. 21.Which of these is an expense (money out)? (a) buying lemons (b) payment for a cake order (c) a card order paid (d) tutoring fees received
22. 22.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) a card order paid (d) buying paper cups
23. 23.True or false: “money from sales” is an expense (money out). (a) True (b) False
24. 24.Meera’s stall took in ₹380 on Friday, ₹380 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
25. 25.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) bus fare to the market (d) payment for a cake order
26. 26.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) payment for a cake order (d) paying the stall fee
27. 27.Which of these is an expense (money out)? (a) printing posters (b) tutoring fees received (c) cash from selling plants (d) payment for a cake order
28. 28.True or false: “buying paper cups” is income (money in). (a) False (b) True
29. 29.Which of these is income (money in)? (a) paying the stall fee (b) money from sales (c) printing posters (d) buying lemons
30. 30.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) to know the real profit (d) no reason
31. 31.Saanvi’s income was ₹110 and the profit was ₹40. One expense was ₹50 (posters). How much was the other expense, for lemons (in ₹)?
32. 32.Dev’s stall took in ₹200 on Friday, ₹390 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
33. 33.True or false: “money from sales” is income (money in). (a) False (b) True
34. 34.True or false: “payment for a cake order” is income (money in). (a) False (b) True
35. 35.Kabir’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹40 (lemons)
    Expense: ₹130 (stall fee)
    What is the profit (in ₹)?
36. 36.Lakshmi’s stall took in ₹260 on Friday, ₹280 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
37. 37.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) the same day (d) never
38. 38.Saanvi’s income was ₹300 and the profit was ₹30. One expense was ₹130 (sugar). How much was the other expense, for lemons (in ₹)?
39. 39.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
40. 40.Ananya’s stall took in ₹80 on Friday, ₹330 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?

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