Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 897 · 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: a card order paid? (a) expense (b) income
2. 2.📒 Income or expense: cash from selling plants? (a) expense (b) income
3. 3.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
4. 4.📒 Income or expense: paying the stall fee? (a) expense (b) income
5. 5.Arjun’s income was ₹340 and the profit was ₹230. One expense was ₹50 (transport). How much was the other expense, for stall fee (in ₹)?
6. 6.True or false: “buying lemons” is an expense (money out). (a) False (b) True
7. 7.True or false: “buying paper cups” is income (money in). (a) True (b) False
8. 8.Meera’s income was ₹400 and the profit was ₹190. One expense was ₹50 (card paper). How much was the other expense, for sugar (in ₹)?
9. 9.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) buying lemons (d) money from sales
10. 10.Ananya’s stall took in ₹260 on Friday, ₹150 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
11. 11.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to look busy (d) to know the real profit
12. 12.Vihaan’s income was ₹150 and the profit was ₹50. One expense was ₹70 (posters). How much was the other expense, for transport (in ₹)?
13. 13.Kabir’s stall took in ₹220 on Friday, ₹290 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
14. 14.True or false: “tutoring fees received” is income (money in). (a) False (b) True
15. 15.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) payment for a cake order (d) buying lemons
16. 16.True or false: “paying the stall fee” is income (money in). (a) True (b) False
17. 17.Nisha’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹140 (stall fee)
    Expense: ₹30 (card paper)
    How much is the loss (in ₹)?
18. 18.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
19. 19.Farhan’s stall took in ₹320 on Friday, ₹140 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
20. 20.📒 Income or expense: printing posters? (a) expense (b) income
21. 21.True or false: “money from sales” is an expense (money out). (a) True (b) False
22. 22.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) payment for a cake order (d) printing posters
23. 23.Dev’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹80 (transport)
    Expense: ₹70 (ribbon)
    What is the profit (in ₹)?
24. 24.📒 Income or expense: tutoring fees received? (a) expense (b) income
25. 25.Dev’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹30 (card paper)
    Expense: ₹50 (stall fee)
    What is the profit (in ₹)?
26. 26.Tara’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹20 (posters)
    Expense: ₹190 (transport)
    What is the profit (in ₹)?
27. 27.Which of these is income (money in)? (a) tutoring fees received (b) printing posters (c) paying the stall fee (d) buying paper cups
28. 28.Arjun’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹110 (sugar)
    Expense: ₹30 (transport)
    What is the profit (in ₹)?
29. 29.True or false: “bus fare to the market” is income (money in). (a) False (b) True
30. 30.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) paying the stall fee (d) cash from selling plants
31. 31.➖ Profit in your records = (a) just the income (b) expenses − income (c) income + expenses (d) income − expenses
32. 32.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) once a year (d) never
33. 33.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) a card order paid (d) bus fare to the market
34. 34.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) money from sales (d) buying lemons
35. 35.True or false: “payment for a cake order” is income (money in). (a) False (b) True
36. 36.Nisha’s income was ₹320 and the profit was ₹130. One expense was ₹160 (posters). How much was the other expense, for paper cups (in ₹)?
37. 37.True or false: “a card order paid” is income (money in). (a) False (b) True
38. 38.📒 Income or expense: buying lemons? (a) income (b) expense
39. 39.Kabir’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹160 (ribbon)
    Expense: ₹160 (lemons)
    What is the profit (in ₹)?
40. 40.Tara’s stall took in ₹300 on Friday, ₹50 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?

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