Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 903 · 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: paying the stall fee? (a) income (b) expense
2. 2.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) printing posters (d) money from sales
3. 3.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) cash from selling plants (d) printing posters
4. 4.Riya’s record for the day:
   Income: ₹290 (morning sales)
   Income: ₹100 (evening sales)
   Expense: ₹150 (ribbon)
   Expense: ₹180 (paper cups)
   What is the profit (in ₹)?
5. 5.True or false: “payment for a cake order” is income (money in). (a) True (b) False
6. 6.True or false: “money from sales” is income (money in). (a) True (b) False
7. 7.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) income + expenses (d) just the income
8. 8.Nisha’s income was ₹110 and the profit was ₹40. One expense was ₹10 (sugar). How much was the other expense, for posters (in ₹)?
9. 9.True or false: “printing posters” is an expense (money out). (a) True (b) False
10. 10.Gurpreet’s income was ₹210 and the profit was ₹100. One expense was ₹50 (sugar). How much was the other expense, for paper cups (in ₹)?
11. 11.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) to fill a notebook (d) no reason
12. 12.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) only the bag (d) a selfie
13. 13.Diya’s stall took in ₹260 on Friday, ₹270 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
14. 14.Lakshmi’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹110 (posters)
    Expense: ₹50 (sugar)
    What is the profit (in ₹)?
15. 15.Zoya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹40 (transport)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
16. 16.Gurpreet’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹60 (posters)
    Expense: ₹70 (stall fee)
    What is the profit (in ₹)?
17. 17.📒 Income or expense: payment for a cake order? (a) expense (b) income
18. 18.📅 When is the best time to update your records? (a) once a year (b) never (c) whenever you like (d) the same day
19. 19.Riya’s stall took in ₹50 on Friday, ₹380 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
20. 20.Which of these is an expense (money out)? (a) paying the stall fee (b) tutoring fees received (c) payment for a cake order (d) money from sales
21. 21.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
22. 22.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) tutoring fees received (d) printing posters
23. 23.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
24. 24.Nisha’s income was ₹300 and the profit was ₹20. One expense was ₹220 (paper cups). How much was the other expense, for transport (in ₹)?
25. 25.Meera’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹150 (card paper)
    What is the profit (in ₹)?
26. 26.Joseph’s stall took in ₹360 on Friday, ₹310 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
27. 27.Diya’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹70 (paper cups)
    Expense: ₹130 (card paper)
    What is the profit (in ₹)?
28. 28.Ananya’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹80 (ribbon)
    Expense: ₹130 (lemons)
    What is the profit (in ₹)?
29. 29.Ishaan’s stall took in ₹210 on Friday, ₹90 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
30. 30.📒 Income or expense: money from sales? (a) income (b) expense
31. 31.True or false: “a card order paid” is an expense (money out). (a) False (b) True
32. 32.Lakshmi’s income was ₹370 and the profit was ₹330. One expense was ₹20 (card paper). How much was the other expense, for lemons (in ₹)?
33. 33.Vihaan’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹20 (card paper)
    Expense: ₹140 (ribbon)
    How much is the loss (in ₹)?
34. 34.Riya’s income was ₹200 and the profit was ₹110. One expense was ₹30 (ribbon). How much was the other expense, for card paper (in ₹)?
35. 35.📒 Income or expense: buying lemons? (a) expense (b) income
36. 36.Which of these is income (money in)? (a) buying paper cups (b) a card order paid (c) bus fare to the market (d) paying the stall fee
37. 37.Lakshmi’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹80 (sugar)
    Expense: ₹40 (transport)
    How much is the loss (in ₹)?
38. 38.📒 Income or expense: tutoring fees received? (a) expense (b) income
39. 39.Saanvi’s income was ₹210 and the profit was ₹70. One expense was ₹20 (stall fee). How much was the other expense, for lemons (in ₹)?
40. 40.Riya’s stall took in ₹140 on Friday, ₹330 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?

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