Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 886 · 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) payment for a cake order (c) tutoring fees received (d) bus fare to the market
2. 2.Which of these is income (money in)? (a) bus fare to the market (b) a card order paid (c) buying paper cups (d) paying the stall fee
3. 3.Diya’s record for a rainy day:
   Income: ₹180 (sales)
   Expense: ₹130 (paper cups)
   Expense: ₹150 (transport)
   How much is the loss (in ₹)?
4. 4.Which of these is income (money in)? (a) cash from selling plants (b) paying the stall fee (c) printing posters (d) buying paper cups
5. 5.Gurpreet’s record for a rainy day:
   Income: ₹280 (sales)
   Expense: ₹50 (ribbon)
   Expense: ₹310 (paper cups)
   How much is the loss (in ₹)?
6. 6.📒 Income or expense: cash from selling plants? (a) expense (b) income
7. 7.Rohan’s record for the day:
   Income: ₹130 (morning sales)
   Income: ₹80 (evening sales)
   Expense: ₹60 (ribbon)
   Expense: ₹30 (posters)
   What is the profit (in ₹)?
8. 8.📒 Income or expense: buying lemons? (a) income (b) expense
9. 9.Riya’s record for the day:
   Income: ₹240 (morning sales)
   Income: ₹60 (evening sales)
   Expense: ₹70 (sugar)
   Expense: ₹150 (stall fee)
   What is the profit (in ₹)?
10. 10.Saanvi’s income was ₹420 and the profit was ₹90. One expense was ₹270 (stall fee). How much was the other expense, for paper cups (in ₹)?
11. 11.📅 When is the best time to update your records? (a) once a year (b) never (c) whenever you like (d) the same day
12. 12.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) a card order paid (d) printing posters
13. 13.Which of these is income (money in)? (a) money from sales (b) paying the stall fee (c) buying paper cups (d) buying lemons
14. 14.Rohan’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹40 (paper cups)
    Expense: ₹200 (transport)
    How much is the loss (in ₹)?
15. 15.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) no reason (d) to fill a notebook
16. 16.Gurpreet’s stall took in ₹230 on Friday, ₹350 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
17. 17.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) buying lemons (d) money from sales
18. 18.Arjun’s income was ₹120 and the profit was ₹50. One expense was ₹40 (sugar). How much was the other expense, for stall fee (in ₹)?
19. 19.Arjun’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹190 (ribbon)
    Expense: ₹90 (posters)
    How much is the loss (in ₹)?
20. 20.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) buying lemons (d) payment for a cake order
21. 21.True or false: “tutoring fees received” is income (money in). (a) True (b) False
22. 22.True or false: “a card order paid” is income (money in). (a) False (b) True
23. 23.📒 Income or expense: money from sales? (a) expense (b) income
24. 24.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
25. 25.Diya’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹30 (sugar)
    Expense: ₹260 (ribbon)
    How much is the loss (in ₹)?
26. 26.True or false: “paying the stall fee” is income (money in). (a) False (b) True
27. 27.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) money from sales (d) buying paper cups
28. 28.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
29. 29.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
30. 30.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) nothing (d) the bill or receipt
31. 31.📒 Income or expense: a card order paid? (a) expense (b) income
32. 32.Arjun’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹80 (ribbon)
    Expense: ₹180 (card paper)
    How much is the loss (in ₹)?
33. 33.Riya’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹220 (stall fee)
    Expense: ₹30 (ribbon)
    How much is the loss (in ₹)?
34. 34.Ananya’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹80 (paper cups)
    Expense: ₹120 (ribbon)
    What is the profit (in ₹)?
35. 35.Rohan’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹40 (card paper)
    Expense: ₹30 (posters)
    How much is the loss (in ₹)?
36. 36.Farhan’s income was ₹380 and the profit was ₹300. One expense was ₹60 (paper cups). How much was the other expense, for lemons (in ₹)?
37. 37.Dev’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹90 (card paper)
    Expense: ₹40 (paper cups)
    How much is the loss (in ₹)?
38. 38.True or false: “buying paper cups” is income (money in). (a) False (b) True
39. 39.True or false: “printing posters” is income (money in). (a) True (b) False
40. 40.Aarav’s stall took in ₹260 on Friday, ₹230 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?

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