Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 899 · 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.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) once a year (d) never
3. 3.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
4. 4.True or false: “bus fare to the market” is income (money in). (a) True (b) False
5. 5.Riya’s record for a rainy day:
   Income: ₹210 (sales)
   Expense: ₹40 (stall fee)
   Expense: ₹180 (ribbon)
   How much is the loss (in ₹)?
6. 6.Ishaan’s income was ₹150 and the profit was ₹50. One expense was ₹40 (posters). How much was the other expense, for sugar (in ₹)?
7. 7.📒 Income or expense: payment for a cake order? (a) income (b) expense
8. 8.True or false: “payment for a cake order” is income (money in). (a) True (b) False
9. 9.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) payment for a cake order (d) bus fare to the market
10. 10.Gurpreet’s stall took in ₹70 on Friday, ₹150 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
11. 11.Aarav’s income was ₹210 and the profit was ₹90. One expense was ₹10 (stall fee). How much was the other expense, for card paper (in ₹)?
12. 12.📒 Income or expense: money from sales? (a) expense (b) income
13. 13.Aarav’s stall took in ₹270 on Friday, ₹60 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
14. 14.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) bus fare to the market (d) money from sales
15. 15.Joseph’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹70 (ribbon)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
16. 16.📒 Income or expense: printing posters? (a) expense (b) income
17. 17.Kabir’s income was ₹200 and the profit was ₹70. One expense was ₹60 (paper cups). How much was the other expense, for posters (in ₹)?
18. 18.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) buying lemons (d) money from sales
19. 19.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
20. 20.Zoya’s stall took in ₹160 on Friday, ₹200 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
21. 21.📒 Income or expense: bus fare to the market? (a) income (b) expense
22. 22.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) tutoring fees received (d) buying paper cups
23. 23.Riya’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹10 (paper cups)
    Expense: ₹50 (posters)
    How much is the loss (in ₹)?
24. 24.True or false: “buying paper cups” is income (money in). (a) True (b) False
25. 25.Gurpreet’s income was ₹280 and the profit was ₹30. One expense was ₹30 (paper cups). How much was the other expense, for transport (in ₹)?
26. 26.True or false: “cash from selling plants” is income (money in). (a) False (b) True
27. 27.➖ Profit in your records = (a) just the income (b) income − expenses (c) income + expenses (d) expenses − income
28. 28.Which of these is income (money in)? (a) buying paper cups (b) a card order paid (c) paying the stall fee (d) buying lemons
29. 29.Zoya’s stall took in ₹180 on Friday, ₹110 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
30. 30.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) tutoring fees received (d) bus fare to the market
31. 31.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) nothing (d) only the bag
32. 32.📒 Income or expense: tutoring fees received? (a) expense (b) income
33. 33.📒 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
34. 34.Joseph’s stall took in ₹70 on Friday, ₹320 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
35. 35.True or false: “money from sales” is income (money in). (a) True (b) False
36. 36.Diya’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹10 (transport)
    Expense: ₹260 (sugar)
    How much is the loss (in ₹)?
37. 37.📒 Income or expense: paying the stall fee? (a) expense (b) income
38. 38.Kavya’s stall took in ₹240 on Friday, ₹290 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
39. 39.Kavya’s income was ₹260 and the profit was ₹100. One expense was ₹130 (card paper). How much was the other expense, for ribbon (in ₹)?
40. 40.Ananya’s income was ₹100 and the profit was ₹80. One expense was ₹10 (posters). How much was the other expense, for card paper (in ₹)?

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