Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 877 · 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.📒 Income or expense: payment for a cake order? (a) expense (b) income
2. 2.➖ Profit in your records = (a) income − expenses (b) just the income (c) expenses − income (d) income + expenses
3. 3.Meera’s record for a rainy day:
   Income: ₹180 (sales)
   Expense: ₹100 (ribbon)
   Expense: ₹90 (lemons)
   How much is the loss (in ₹)?
4. 4.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) payment for a cake order (d) buying paper cups
5. 5.Ishaan’s stall took in ₹360 on Friday, ₹140 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
6. 6.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) tutoring fees received (d) buying lemons
7. 7.Rohan’s income was ₹150 and the profit was ₹60. One expense was ₹70 (card paper). How much was the other expense, for sugar (in ₹)?
8. 8.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) a selfie (d) nothing
9. 9.Zoya’s record for the day:
   Income: ₹110 (morning sales)
   Income: ₹260 (evening sales)
   Expense: ₹130 (lemons)
   Expense: ₹70 (ribbon)
   What is the profit (in ₹)?
10. 10.📒 Income or expense: cash from selling plants? (a) expense (b) income
11. 11.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
12. 12.Kavya’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹50 (sugar)
    Expense: ₹110 (paper cups)
    What is the profit (in ₹)?
13. 13.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to fill a notebook (d) to look busy
14. 14.Farhan’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹40 (posters)
    Expense: ₹120 (card paper)
    What is the profit (in ₹)?
15. 15.True or false: “paying the stall fee” is income (money in). (a) True (b) False
16. 16.📒 Income or expense: tutoring fees received? (a) income (b) expense
17. 17.Saanvi’s stall took in ₹70 on Friday, ₹260 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
18. 18.📒 Income or expense: a card order paid? (a) income (b) expense
19. 19.📒 Income or expense: bus fare to the market? (a) expense (b) income
20. 20.True or false: “money from sales” is income (money in). (a) True (b) False
21. 21.Saanvi’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹230 (card paper)
    How much is the loss (in ₹)?
22. 22.Which of these is an expense (money out)? (a) printing posters (b) money from sales (c) payment for a cake order (d) a card order paid
23. 23.Rohan’s income was ₹400 and the profit was ₹40. One expense was ₹80 (paper cups). How much was the other expense, for ribbon (in ₹)?
24. 24.Vihaan’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹380 (evening sales)
    Expense: ₹150 (paper cups)
    Expense: ₹140 (stall fee)
    What is the profit (in ₹)?
25. 25.Ishaan’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹140 (paper cups)
    Expense: ₹90 (ribbon)
    What is the profit (in ₹)?
26. 26.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) paying the stall fee (d) a card order paid
27. 27.Dev’s income was ₹100 and the profit was ₹50. One expense was ₹30 (lemons). How much was the other expense, for posters (in ₹)?
28. 28.True or false: “a card order paid” is an expense (money out). (a) False (b) True
29. 29.Farhan’s income was ₹330 and the profit was ₹240. One expense was ₹20 (ribbon). How much was the other expense, for posters (in ₹)?
30. 30.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) never (d) once a year
31. 31.True or false: “a card order paid” is income (money in). (a) False (b) True
32. 32.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
33. 33.📒 Income or expense: buying lemons? (a) income (b) expense
34. 34.Meera’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹80 (paper cups)
    Expense: ₹60 (posters)
    What is the profit (in ₹)?
35. 35.Rohan’s income was ₹400 and the profit was ₹370. One expense was ₹10 (stall fee). How much was the other expense, for card paper (in ₹)?
36. 36.Farhan’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹150 (stall fee)
    Expense: ₹10 (sugar)
    How much is the loss (in ₹)?
37. 37.Farhan’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹170 (ribbon)
    Expense: ₹10 (transport)
    How much is the loss (in ₹)?
38. 38.Lakshmi’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹10 (stall fee)
    Expense: ₹110 (sugar)
    How much is the loss (in ₹)?
39. 39.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) paying the stall fee (d) cash from selling plants
40. 40.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) money from sales (d) buying lemons

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