Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 888 · 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: “printing posters” is an expense (money out). (a) True (b) False
2. 2.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) payment for a cake order (d) bus fare to the market
3. 3.Which of these is income (money in)? (a) paying the stall fee (b) a card order paid (c) buying lemons (d) bus fare to the market
4. 4.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) to know the real profit (d) no reason
5. 5.Kabir’s income was ₹470 and the profit was ₹70. One expense was ₹170 (ribbon). How much was the other expense, for paper cups (in ₹)?
6. 6.📒 Income or expense: cash from selling plants? (a) income (b) expense
7. 7.📒 Income or expense: paying the stall fee? (a) income (b) expense
8. 8.True or false: “buying lemons” is income (money in). (a) True (b) False
9. 9.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
10. 10.📒 Income or expense: tutoring fees received? (a) income (b) expense
11. 11.Kavya’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹90 (lemons)
    Expense: ₹30 (transport)
    What is the profit (in ₹)?
12. 12.📒 Income or expense: payment for a cake order? (a) expense (b) income
13. 13.Which of these is an expense (money out)? (a) paying the stall fee (b) cash from selling plants (c) money from sales (d) tutoring fees received
14. 14.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) tutoring fees received (d) printing posters
15. 15.📒 Income or expense: buying lemons? (a) expense (b) income
16. 16.Saanvi’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹120 (ribbon)
    Expense: ₹110 (stall fee)
    How much is the loss (in ₹)?
17. 17.True or false: “tutoring fees received” is income (money in). (a) True (b) False
18. 18.📒 Income or expense: bus fare to the market? (a) expense (b) income
19. 19.Ishaan’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹20 (stall fee)
    Expense: ₹250 (ribbon)
    How much is the loss (in ₹)?
20. 20.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) cash from selling plants (d) buying lemons
21. 21.Dev’s record for the day:
    Income: ₹370 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹180 (posters)
    Expense: ₹140 (card paper)
    What is the profit (in ₹)?
22. 22.Which of these is income (money in)? (a) buying lemons (b) money from sales (c) buying paper cups (d) paying the stall fee
23. 23.Nisha’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹50 (paper cups)
    Expense: ₹230 (posters)
    How much is the loss (in ₹)?
24. 24.Farhan’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹110 (lemons)
    Expense: ₹30 (ribbon)
    What is the profit (in ₹)?
25. 25.Diya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹150 (ribbon)
    Expense: ₹30 (sugar)
    What is the profit (in ₹)?
26. 26.Tara’s income was ₹400 and the profit was ₹340. One expense was ₹30 (posters). How much was the other expense, for sugar (in ₹)?
27. 27.Ananya’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹50 (ribbon)
    Expense: ₹100 (sugar)
    What is the profit (in ₹)?
28. 28.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) once a year (d) never
29. 29.Kabir’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹10 (stall fee)
    Expense: ₹340 (paper cups)
    How much is the loss (in ₹)?
30. 30.Diya’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹130 (stall fee)
    Expense: ₹120 (paper cups)
    How much is the loss (in ₹)?
31. 31.Aarav’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹70 (posters)
    Expense: ₹30 (ribbon)
    What is the profit (in ₹)?
32. 32.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) the bill or receipt (d) only the bag
33. 33.Farhan’s stall took in ₹140 on Friday, ₹350 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
34. 34.True or false: “a card order paid” is an expense (money out). (a) False (b) True
35. 35.Diya’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹30 (lemons)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
36. 36.True or false: “payment for a cake order” is income (money in). (a) True (b) False
37. 37.Riya’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹280 (lemons)
    Expense: ₹40 (posters)
    How much is the loss (in ₹)?
38. 38.Ananya’s income was ₹270 and the profit was ₹200. One expense was ₹60 (paper cups). How much was the other expense, for lemons (in ₹)?
39. 39.Ananya’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹140 (paper cups)
    How much is the loss (in ₹)?
40. 40.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) cash from selling plants (d) buying lemons

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