Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 896 · 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 paper cups (b) buying lemons (c) money from sales (d) paying the stall fee
2. 2.True or false: “buying lemons” is income (money in). (a) True (b) False
3. 3.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) buying paper cups (d) tutoring fees received
4. 4.📅 When is the best time to update your records? (a) once a year (b) never (c) the same day (d) whenever you like
5. 5.📒 Income or expense: money from sales? (a) income (b) expense
6. 6.Meera’s income was ₹270 and the profit was ₹200. One expense was ₹40 (paper cups). How much was the other expense, for stall fee (in ₹)?
7. 7.Rohan’s stall took in ₹270 on Friday, ₹230 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
8. 8.Zoya’s stall took in ₹60 on Friday, ₹390 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
9. 9.➖ Profit in your records = (a) expenses − income (b) just the income (c) income + expenses (d) income − expenses
10. 10.Which of these is an expense (money out)? (a) money from sales (b) buying paper cups (c) payment for a cake order (d) a card order paid
11. 11.Arjun’s income was ₹200 and the profit was ₹140. One expense was ₹50 (card paper). How much was the other expense, for transport (in ₹)?
12. 12.True or false: “money from sales” is an expense (money out). (a) True (b) False
13. 13.Tara’s income was ₹460 and the profit was ₹440. One expense was ₹10 (transport). How much was the other expense, for lemons (in ₹)?
14. 14.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) a selfie (d) only the bag
15. 15.Riya’s income was ₹210 and the profit was ₹150. One expense was ₹20 (paper cups). How much was the other expense, for ribbon (in ₹)?
16. 16.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
17. 17.Ananya’s stall took in ₹300 on Friday, ₹320 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
18. 18.Ishaan’s income was ₹480 and the profit was ₹350. One expense was ₹50 (transport). How much was the other expense, for paper cups (in ₹)?
19. 19.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) paying the stall fee (d) payment for a cake order
20. 20.Vihaan’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹130 (card paper)
    Expense: ₹30 (stall fee)
    How much is the loss (in ₹)?
21. 21.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) no reason (d) to look busy
22. 22.Farhan’s record for the day:
    Income: ₹500 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹190 (lemons)
    Expense: ₹180 (transport)
    What is the profit (in ₹)?
23. 23.Which of these is income (money in)? (a) cash from selling plants (b) buying paper cups (c) paying the stall fee (d) buying lemons
24. 24.📒 Income or expense: buying paper cups? (a) income (b) expense
25. 25.True or false: “money from sales” is income (money in). (a) False (b) True
26. 26.Diya’s stall took in ₹280 on Friday, ₹220 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
27. 27.True or false: “tutoring fees received” is income (money in). (a) True (b) False
28. 28.📒 Income or expense: cash from selling plants? (a) income (b) expense
29. 29.📒 Income or expense: a card order paid? (a) income (b) expense
30. 30.Arjun’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹170 (transport)
    Expense: ₹200 (sugar)
    What is the profit (in ₹)?
31. 31.Riya’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹20 (stall fee)
    Expense: ₹30 (sugar)
    What is the profit (in ₹)?
32. 32.📒 Income or expense: paying the stall fee? (a) expense (b) income
33. 33.Joseph’s income was ₹340 and the profit was ₹90. One expense was ₹210 (stall fee). How much was the other expense, for paper cups (in ₹)?
34. 34.Zoya’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹160 (sugar)
    Expense: ₹10 (paper cups)
    How much is the loss (in ₹)?
35. 35.Zoya’s stall took in ₹200 on Friday, ₹270 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
36. 36.Zoya’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹90 (transport)
    Expense: ₹30 (posters)
    How much is the loss (in ₹)?
37. 37.True or false: “buying lemons” is an expense (money out). (a) False (b) True
38. 38.Dev’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹240 (card paper)
    Expense: ₹10 (lemons)
    How much is the loss (in ₹)?
39. 39.Vihaan’s stall took in ₹350 on Friday, ₹390 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
40. 40.True or false: “a card order paid” is an expense (money out). (a) False (b) True

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