Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 909 · 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: payment for a cake order? (a) expense (b) income
2. 2.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) tutoring fees received (d) buying lemons
3. 3.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) a card order paid (d) buying paper cups
4. 4.Which of these is income (money in)? (a) bus fare to the market (b) payment for a cake order (c) printing posters (d) buying paper cups
5. 5.Aarav’s stall took in ₹50 on Friday, ₹360 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
6. 6.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
7. 7.📅 When is the best time to update your records? (a) never (b) the same day (c) whenever you like (d) once a year
8. 8.Aarav’s income was ₹150 and the profit was ₹50. One expense was ₹90 (card paper). How much was the other expense, for lemons (in ₹)?
9. 9.True or false: “tutoring fees received” is income (money in). (a) False (b) True
10. 10.True or false: “money from sales” is an expense (money out). (a) False (b) True
11. 11.Which of these is an expense (money out)? (a) money from sales (b) printing posters (c) payment for a cake order (d) cash from selling plants
12. 12.Kavya’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹280 (paper cups)
    Expense: ₹70 (lemons)
    How much is the loss (in ₹)?
13. 13.Rohan’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹620 (evening sales)
    Expense: ₹190 (card paper)
    Expense: ₹200 (lemons)
    What is the profit (in ₹)?
14. 14.📒 Income or expense: buying paper cups? (a) income (b) expense
15. 15.📒 Income or expense: paying the stall fee? (a) income (b) expense
16. 16.📒 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
17. 17.Joseph’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹60 (lemons)
    Expense: ₹180 (transport)
    How much is the loss (in ₹)?
18. 18.Saanvi’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹70 (paper cups)
    What is the profit (in ₹)?
19. 19.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) buying paper cups (d) money from sales
20. 20.Nisha’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹130 (card paper)
    Expense: ₹160 (transport)
    How much is the loss (in ₹)?
21. 21.Dev’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹10 (lemons)
    Expense: ₹120 (card paper)
    How much is the loss (in ₹)?
22. 22.True or false: “payment for a cake order” is income (money in). (a) False (b) True
23. 23.📒 Income or expense: buying lemons? (a) expense (b) income
24. 24.➖ Profit in your records = (a) just the income (b) expenses − income (c) income + expenses (d) income − expenses
25. 25.Tara’s record for the day:
    Income: ₹430 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹150 (transport)
    Expense: ₹120 (lemons)
    What is the profit (in ₹)?
26. 26.True or false: “buying lemons” is an expense (money out). (a) False (b) True
27. 27.Lakshmi’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹70 (stall fee)
    Expense: ₹210 (posters)
    How much is the loss (in ₹)?
28. 28.Zoya’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹100 (card paper)
    Expense: ₹180 (sugar)
    What is the profit (in ₹)?
29. 29.True or false: “cash from selling plants” is income (money in). (a) False (b) True
30. 30.True or false: “paying the stall fee” is income (money in). (a) False (b) True
31. 31.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) only the bag (d) nothing
32. 32.📒 Income or expense: a card order paid? (a) income (b) expense
33. 33.Saanvi’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹70 (stall fee)
    Expense: ₹50 (card paper)
    How much is the loss (in ₹)?
34. 34.Farhan’s stall took in ₹230 on Friday, ₹400 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
35. 35.Rohan’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹80 (posters)
    Expense: ₹210 (card paper)
    How much is the loss (in ₹)?
36. 36.Zoya’s stall took in ₹340 on Friday, ₹370 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
37. 37.📒 Income or expense: cash from selling plants? (a) expense (b) income
38. 38.Meera’s stall took in ₹200 on Friday, ₹130 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
39. 39.📒 Income or expense: bus fare to the market? (a) income (b) expense
40. 40.Kabir’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹60 (sugar)
    Expense: ₹190 (lemons)
    What is the profit (in ₹)?

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