Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 870 · 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: “bus fare to the market” is income (money in). (a) True (b) False
2. 2.Gurpreet’s income was ₹260 and the profit was ₹230. One expense was ₹20 (posters). How much was the other expense, for card paper (in ₹)?
3. 3.📒 Income or expense: cash from selling plants? (a) income (b) expense
4. 4.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
5. 5.Rohan’s record for the day:
   Income: ₹50 (morning sales)
   Income: ₹350 (evening sales)
   Expense: ₹40 (paper cups)
   Expense: ₹170 (sugar)
   What is the profit (in ₹)?
6. 6.True or false: “a card order paid” is income (money in). (a) True (b) False
7. 7.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) cash from selling plants (d) buying paper cups
8. 8.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
9. 9.📒 Income or expense: bus fare to the market? (a) expense (b) income
10. 10.📒 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
11. 11.📒 Income or expense: buying paper cups? (a) expense (b) income
12. 12.True or false: “buying paper cups” is income (money in). (a) False (b) True
13. 13.Vihaan’s income was ₹380 and the profit was ₹160. One expense was ₹210 (transport). How much was the other expense, for stall fee (in ₹)?
14. 14.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
15. 15.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
16. 16.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) a card order paid (d) printing posters
17. 17.Diya’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹190 (posters)
    Expense: ₹60 (stall fee)
    What is the profit (in ₹)?
18. 18.Vihaan’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹80 (paper cups)
    Expense: ₹200 (sugar)
    What is the profit (in ₹)?
19. 19.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) just the income (d) income + expenses
20. 20.Nisha’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹10 (ribbon)
    Expense: ₹160 (lemons)
    How much is the loss (in ₹)?
21. 21.📒 Income or expense: paying the stall fee? (a) income (b) expense
22. 22.Saanvi’s stall took in ₹300 on Friday, ₹400 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
23. 23.True or false: “money from sales” is income (money in). (a) False (b) True
24. 24.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) only the bag (d) a selfie
25. 25.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
26. 26.📒 Income or expense: payment for a cake order? (a) income (b) expense
27. 27.Aarav’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹70 (posters)
    Expense: ₹120 (paper cups)
    What is the profit (in ₹)?
28. 28.Which of these is an expense (money out)? (a) cash from selling plants (b) paying the stall fee (c) money from sales (d) payment for a cake order
29. 29.Riya’s stall took in ₹260 on Friday, ₹400 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
30. 30.Meera’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹160 (stall fee)
    Expense: ₹100 (lemons)
    How much is the loss (in ₹)?
31. 31.Which of these is income (money in)? (a) tutoring fees received (b) printing posters (c) bus fare to the market (d) buying lemons
32. 32.📅 When is the best time to update your records? (a) the same day (b) once a year (c) never (d) whenever you like
33. 33.Aarav’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹190 (stall fee)
    Expense: ₹80 (paper cups)
    How much is the loss (in ₹)?
34. 34.📒 Income or expense: buying lemons? (a) income (b) expense
35. 35.Gurpreet’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹40 (paper cups)
    Expense: ₹130 (transport)
    What is the profit (in ₹)?
36. 36.True or false: “paying the stall fee” is income (money in). (a) True (b) False
37. 37.Vihaan’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹30 (transport)
    Expense: ₹30 (stall fee)
    What is the profit (in ₹)?
38. 38.Rohan’s stall took in ₹360 on Friday, ₹150 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
39. 39.Which of these is income (money in)? (a) cash from selling plants (b) bus fare to the market (c) paying the stall fee (d) printing posters
40. 40.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) bus fare to the market (d) payment for a cake order

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