Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 902 · 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) paying the stall fee (b) a card order paid (c) money from sales (d) tutoring fees received
2. 2.📒 Income or expense: printing posters? (a) expense (b) income
3. 3.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
4. 4.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) nothing (d) the bill or receipt
5. 5.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) payment for a cake order (d) buying lemons
6. 6.True or false: “money from sales” is income (money in). (a) False (b) True
7. 7.Lakshmi’s stall took in ₹140 on Friday, ₹50 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
8. 8.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) no reason (d) to fill a notebook
9. 9.Kavya’s income was ₹160 and the profit was ₹100. One expense was ₹50 (lemons). How much was the other expense, for ribbon (in ₹)?
10. 10.📒 Income or expense: a card order paid? (a) expense (b) income
11. 11.📒 Income or expense: paying the stall fee? (a) income (b) expense
12. 12.Which of these is an expense (money out)? (a) tutoring fees received (b) bus fare to the market (c) cash from selling plants (d) money from sales
13. 13.Ananya’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹120 (paper cups)
    Expense: ₹10 (transport)
    How much is the loss (in ₹)?
14. 14.📒 Income or expense: cash from selling plants? (a) income (b) expense
15. 15.Diya’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹200 (ribbon)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
16. 16.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) tutoring fees received (d) printing posters
17. 17.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) buying paper cups (d) cash from selling plants
18. 18.Meera’s income was ₹220 and the profit was ₹40. One expense was ₹140 (paper cups). How much was the other expense, for posters (in ₹)?
19. 19.Dev’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹190 (transport)
    Expense: ₹40 (lemons)
    What is the profit (in ₹)?
20. 20.Aarav’s income was ₹120 and the profit was ₹90. One expense was ₹10 (sugar). How much was the other expense, for lemons (in ₹)?
21. 21.➖ Profit in your records = (a) just the income (b) income − expenses (c) expenses − income (d) income + expenses
22. 22.Kabir’s income was ₹250 and the profit was ₹180. One expense was ₹20 (paper cups). How much was the other expense, for sugar (in ₹)?
23. 23.Rohan’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹40 (stall fee)
    Expense: ₹20 (sugar)
    How much is the loss (in ₹)?
24. 24.Vihaan’s income was ₹230 and the profit was ₹40. One expense was ₹10 (transport). How much was the other expense, for lemons (in ₹)?
25. 25.True or false: “paying the stall fee” is income (money in). (a) True (b) False
26. 26.True or false: “printing posters” is income (money in). (a) False (b) True
27. 27.Saanvi’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹170 (sugar)
    Expense: ₹70 (lemons)
    How much is the loss (in ₹)?
28. 28.Arjun’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹60 (posters)
    Expense: ₹40 (ribbon)
    How much is the loss (in ₹)?
29. 29.Nisha’s record for the day:
    Income: ₹400 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹170 (transport)
    Expense: ₹180 (lemons)
    What is the profit (in ₹)?
30. 30.📒 Income or expense: bus fare to the market? (a) expense (b) income
31. 31.Meera’s stall took in ₹370 on Friday, ₹140 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
32. 32.Which of these is income (money in)? (a) tutoring fees received (b) buying lemons (c) buying paper cups (d) printing posters
33. 33.📒 Income or expense: money from sales? (a) expense (b) income
34. 34.True or false: “tutoring fees received” is income (money in). (a) True (b) False
35. 35.📒 Income or expense: buying lemons? (a) expense (b) income
36. 36.True or false: “buying paper cups” is income (money in). (a) True (b) False
37. 37.📒 Income or expense: payment for a cake order? (a) expense (b) income
38. 38.Diya’s income was ₹140 and the profit was ₹90. One expense was ₹30 (ribbon). How much was the other expense, for lemons (in ₹)?
39. 39.Rohan’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹90 (transport)
    Expense: ₹70 (sugar)
    What is the profit (in ₹)?
40. 40.Meera’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹190 (transport)
    Expense: ₹90 (lemons)
    What is the profit (in ₹)?

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