Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 864 · 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.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) cash from selling plants (d) buying paper cups
2. 2.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) a selfie (d) only the bag
3. 3.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to look busy (d) to know the real profit
4. 4.True or false: “money from sales” is an expense (money out). (a) True (b) False
5. 5.True or false: “a card order paid” is income (money in). (a) True (b) False
6. 6.📒 Income or expense: bus fare to the market? (a) expense (b) income
7. 7.Kavya’s income was ₹190 and the profit was ₹50. One expense was ₹130 (lemons). How much was the other expense, for card paper (in ₹)?
8. 8.Kavya’s income was ₹320 and the profit was ₹140. One expense was ₹110 (paper cups). How much was the other expense, for transport (in ₹)?
9. 9.Lakshmi’s stall took in ₹60 on Friday, ₹370 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
10. 10.📒 Income or expense: payment for a cake order? (a) expense (b) income
11. 11.Joseph’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹70 (ribbon)
    Expense: ₹150 (posters)
    What is the profit (in ₹)?
12. 12.📒 Income or expense: tutoring fees received? (a) income (b) expense
13. 13.Diya’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹590 (evening sales)
    Expense: ₹150 (lemons)
    Expense: ₹170 (ribbon)
    What is the profit (in ₹)?
14. 14.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
15. 15.Kabir’s income was ₹370 and the profit was ₹30. One expense was ₹90 (lemons). How much was the other expense, for stall fee (in ₹)?
16. 16.Which of these is an expense (money out)? (a) money from sales (b) bus fare to the market (c) cash from selling plants (d) a card order paid
17. 17.Nisha’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹30 (sugar)
    Expense: ₹90 (lemons)
    How much is the loss (in ₹)?
18. 18.Ishaan’s income was ₹410 and the profit was ₹230. One expense was ₹20 (paper cups). How much was the other expense, for sugar (in ₹)?
19. 19.Tara’s record for the day:
    Income: ₹370 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹120 (stall fee)
    Expense: ₹70 (card paper)
    What is the profit (in ₹)?
20. 20.📒 Income or expense: cash from selling plants? (a) income (b) expense
21. 21.True or false: “buying lemons” is income (money in). (a) False (b) True
22. 22.Which of these is an expense (money out)? (a) money from sales (b) buying lemons (c) cash from selling plants (d) a card order paid
23. 23.True or false: “buying lemons” is an expense (money out). (a) False (b) True
24. 24.Diya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹400 (evening sales)
    Expense: ₹120 (paper cups)
    Expense: ₹30 (sugar)
    What is the profit (in ₹)?
25. 25.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) cash from selling plants (d) buying paper cups
26. 26.📒 Income or expense: printing posters? (a) expense (b) income
27. 27.Ananya’s stall took in ₹150 on Friday, ₹50 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
28. 28.Joseph’s stall took in ₹50 on Friday, ₹270 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
29. 29.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
30. 30.Meera’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹100 (transport)
    Expense: ₹280 (posters)
    How much is the loss (in ₹)?
31. 31.Riya’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹30 (posters)
    Expense: ₹210 (stall fee)
    How much is the loss (in ₹)?
32. 32.True or false: “printing posters” is an expense (money out). (a) True (b) False
33. 33.Nisha’s stall took in ₹160 on Friday, ₹220 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
34. 34.📅 When is the best time to update your records? (a) the same day (b) once a year (c) whenever you like (d) never
35. 35.Farhan’s income was ₹110 and the profit was ₹50. One expense was ₹40 (paper cups). How much was the other expense, for ribbon (in ₹)?
36. 36.Riya’s stall took in ₹130 on Friday, ₹290 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
37. 37.Kabir’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹100 (posters)
    Expense: ₹150 (card paper)
    What is the profit (in ₹)?
38. 38.Aarav’s income was ₹480 and the profit was ₹140. One expense was ₹220 (posters). How much was the other expense, for sugar (in ₹)?
39. 39.➖ Profit in your records = (a) income + expenses (b) just the income (c) income − expenses (d) expenses − income
40. 40.Joseph’s income was ₹160 and the profit was ₹20. One expense was ₹60 (paper cups). How much was the other expense, for lemons (in ₹)?

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