Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 904 · 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) expense (b) income
2. 2.True or false: “money from sales” is an expense (money out). (a) True (b) False
3. 3.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) to know the real profit (d) no reason
4. 4.True or false: “printing posters” is income (money in). (a) True (b) False
5. 5.Ananya’s stall took in ₹210 on Friday, ₹400 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
6. 6.True or false: “cash from selling plants” is income (money in). (a) False (b) True
7. 7.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) buying paper cups (d) money from sales
8. 8.Which of these is an expense (money out)? (a) cash from selling plants (b) printing posters (c) a card order paid (d) money from sales
9. 9.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) paying the stall fee (d) cash from selling plants
10. 10.Ananya’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹110 (lemons)
    Expense: ₹70 (stall fee)
    What is the profit (in ₹)?
11. 11.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) buying lemons (d) money from sales
12. 12.Which of these is income (money in)? (a) a card order paid (b) buying lemons (c) paying the stall fee (d) printing posters
13. 13.📒 Income or expense: tutoring fees received? (a) income (b) expense
14. 14.Vihaan’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹180 (posters)
    Expense: ₹130 (ribbon)
    What is the profit (in ₹)?
15. 15.True or false: “bus fare to the market” is income (money in). (a) True (b) False
16. 16.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
17. 17.Riya’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹10 (stall fee)
    Expense: ₹90 (lemons)
    How much is the loss (in ₹)?
18. 18.True or false: “tutoring fees received” is income (money in). (a) True (b) False
19. 19.📅 When is the best time to update your records? (a) never (b) the same day (c) whenever you like (d) once a year
20. 20.True or false: “buying lemons” is income (money in). (a) False (b) True
21. 21.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) money from sales (d) buying paper cups
22. 22.Dev’s stall took in ₹170 on Friday, ₹290 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
23. 23.Rohan’s income was ₹110 and the profit was ₹90. One expense was ₹10 (card paper). How much was the other expense, for ribbon (in ₹)?
24. 24.Ananya’s income was ₹460 and the profit was ₹200. One expense was ₹180 (posters). How much was the other expense, for paper cups (in ₹)?
25. 25.📒 Income or expense: money from sales? (a) income (b) expense
26. 26.📒 Income or expense: a card order paid? (a) income (b) expense
27. 27.True or false: “a card order paid” is an expense (money out). (a) True (b) False
28. 28.Arjun’s stall took in ₹80 on Friday, ₹130 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
29. 29.📒 Income or expense: cash from selling plants? (a) income (b) expense
30. 30.Rohan’s income was ₹120 and the profit was ₹90. One expense was ₹20 (transport). How much was the other expense, for paper cups (in ₹)?
31. 31.Ishaan’s income was ₹140 and the profit was ₹120. One expense was ₹10 (posters). How much was the other expense, for paper cups (in ₹)?
32. 32.Arjun’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹430 (evening sales)
    Expense: ₹50 (ribbon)
    Expense: ₹200 (paper cups)
    What is the profit (in ₹)?
33. 33.Kabir’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹70 (lemons)
    Expense: ₹240 (stall fee)
    How much is the loss (in ₹)?
34. 34.Which of these is an expense (money out)? (a) paying the stall fee (b) tutoring fees received (c) cash from selling plants (d) a card order paid
35. 35.Joseph’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹60 (transport)
    What is the profit (in ₹)?
36. 36.Dev’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹30 (posters)
    Expense: ₹50 (lemons)
    What is the profit (in ₹)?
37. 37.Joseph’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹170 (sugar)
    Expense: ₹80 (paper cups)
    What is the profit (in ₹)?
38. 38.True or false: “paying the stall fee” is income (money in). (a) True (b) False
39. 39.Saanvi’s income was ₹360 and the profit was ₹120. One expense was ₹220 (stall fee). How much was the other expense, for ribbon (in ₹)?
40. 40.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False

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