Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 873 · 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 income (money in)? (a) buying lemons (b) paying the stall fee (c) buying paper cups (d) payment for a cake order
2. 2.➖ Profit in your records = (a) expenses − income (b) just the income (c) income + expenses (d) income − expenses
3. 3.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) cash from selling plants (d) bus fare to the market
4. 4.Saanvi’s record for a rainy day:
   Income: ₹260 (sales)
   Expense: ₹190 (card paper)
   Expense: ₹130 (paper cups)
   How much is the loss (in ₹)?
5. 5.Which of these is income (money in)? (a) money from sales (b) printing posters (c) bus fare to the market (d) paying the stall fee
6. 6.Ishaan’s stall took in ₹370 on Friday, ₹250 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
7. 7.Farhan’s record for the day:
   Income: ₹190 (morning sales)
   Income: ₹10 (evening sales)
   Expense: ₹90 (lemons)
   Expense: ₹40 (card paper)
   What is the profit (in ₹)?
8. 8.Which of these is an expense (money out)? (a) paying the stall fee (b) cash from selling plants (c) payment for a cake order (d) tutoring fees received
9. 9.Ananya’s record for a rainy day:
   Income: ₹80 (sales)
   Expense: ₹130 (stall fee)
   Expense: ₹30 (card paper)
   How much is the loss (in ₹)?
10. 10.True or false: “money from sales” is an expense (money out). (a) False (b) True
11. 11.📒 Income or expense: money from sales? (a) income (b) expense
12. 12.Which of these is income (money in)? (a) buying lemons (b) cash from selling plants (c) printing posters (d) buying paper cups
13. 13.Gurpreet’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹110 (card paper)
    Expense: ₹100 (stall fee)
    What is the profit (in ₹)?
14. 14.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) the bill or receipt (d) only the bag
15. 15.True or false: “tutoring fees received” is income (money in). (a) True (b) False
16. 16.📒 Income or expense: cash from selling plants? (a) income (b) expense
17. 17.Farhan’s stall took in ₹50 on Friday, ₹100 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
18. 18.Zoya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹20 (paper cups)
    Expense: ₹100 (card paper)
    What is the profit (in ₹)?
19. 19.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
20. 20.True or false: “printing posters” is income (money in). (a) True (b) False
21. 21.True or false: “cash from selling plants” is income (money in). (a) False (b) True
22. 22.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) cash from selling plants (d) buying lemons
23. 23.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) the same day (d) never
24. 24.Ishaan’s record for the day:
    Income: ₹390 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹90 (stall fee)
    Expense: ₹90 (sugar)
    What is the profit (in ₹)?
25. 25.Arjun’s income was ₹150 and the profit was ₹20. One expense was ₹90 (lemons). How much was the other expense, for paper cups (in ₹)?
26. 26.Vihaan’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹130 (ribbon)
    Expense: ₹130 (sugar)
    What is the profit (in ₹)?
27. 27.📒 Income or expense: a card order paid? (a) income (b) expense
28. 28.Ananya’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹140 (ribbon)
    Expense: ₹100 (paper cups)
    What is the profit (in ₹)?
29. 29.📒 Income or expense: tutoring fees received? (a) expense (b) income
30. 30.Zoya’s record for the day:
    Income: ₹510 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹160 (sugar)
    Expense: ₹140 (transport)
    What is the profit (in ₹)?
31. 31.True or false: “buying paper cups” is income (money in). (a) True (b) False
32. 32.Rohan’s stall took in ₹370 on Friday, ₹250 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
33. 33.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
34. 34.Ishaan’s income was ₹360 and the profit was ₹120. One expense was ₹70 (sugar). How much was the other expense, for posters (in ₹)?
35. 35.Aarav’s income was ₹420 and the profit was ₹190. One expense was ₹170 (ribbon). How much was the other expense, for stall fee (in ₹)?
36. 36.📒 Income or expense: printing posters? (a) income (b) expense
37. 37.Saanvi’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹520 (evening sales)
    Expense: ₹120 (lemons)
    Expense: ₹200 (posters)
    What is the profit (in ₹)?
38. 38.Ananya’s stall took in ₹230 on Friday, ₹150 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
39. 39.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) cash from selling plants (d) printing posters
40. 40.Nisha’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹50 (sugar)
    Expense: ₹70 (stall fee)
    What is the profit (in ₹)?

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