Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 911 · 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.➖ Profit in your records = (a) income − expenses (b) just the income (c) expenses − income (d) income + expenses
2. 2.📒 Income or expense: bus fare to the market? (a) income (b) expense
3. 3.True or false: “money from sales” is an expense (money out). (a) True (b) False
4. 4.Which of these is an expense (money out)? (a) payment for a cake order (b) buying paper cups (c) a card order paid (d) cash from selling plants
5. 5.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) cash from selling plants (d) printing posters
6. 6.Which of these is income (money in)? (a) bus fare to the market (b) payment for a cake order (c) buying lemons (d) printing posters
7. 7.📒 Income or expense: money from sales? (a) expense (b) income
8. 8.Kabir’s record for the day:
   Income: ₹20 (morning sales)
   Income: ₹240 (evening sales)
   Expense: ₹40 (transport)
   Expense: ₹130 (posters)
   What is the profit (in ₹)?
9. 9.Which of these is income (money in)? (a) buying lemons (b) money from sales (c) bus fare to the market (d) paying the stall fee
10. 10.True or false: “buying paper cups” is income (money in). (a) False (b) True
11. 11.Lakshmi’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹160 (sugar)
    Expense: ₹70 (stall fee)
    How much is the loss (in ₹)?
12. 12.Ananya’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹70 (posters)
    Expense: ₹280 (stall fee)
    How much is the loss (in ₹)?
13. 13.True or false: “printing posters” is income (money in). (a) False (b) True
14. 14.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) no reason (d) to fill a notebook
15. 15.📅 When is the best time to update your records? (a) once a year (b) the same day (c) whenever you like (d) never
16. 16.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) only the bag (d) the bill or receipt
17. 17.True or false: “buying lemons” is income (money in). (a) True (b) False
18. 18.Meera’s stall took in ₹60 on Friday, ₹150 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
19. 19.Aarav’s stall took in ₹120 on Friday, ₹230 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
20. 20.Ishaan’s stall took in ₹370 on Friday, ₹290 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
21. 21.Arjun’s income was ₹210 and the profit was ₹170. One expense was ₹30 (card paper). How much was the other expense, for ribbon (in ₹)?
22. 22.Kabir’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹40 (card paper)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
23. 23.Aarav’s income was ₹340 and the profit was ₹250. One expense was ₹70 (stall fee). How much was the other expense, for card paper (in ₹)?
24. 24.Joseph’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹150 (posters)
    Expense: ₹60 (lemons)
    How much is the loss (in ₹)?
25. 25.True or false: “tutoring fees received” is income (money in). (a) False (b) True
26. 26.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
27. 27.Vihaan’s income was ₹250 and the profit was ₹60. One expense was ₹100 (ribbon). How much was the other expense, for paper cups (in ₹)?
28. 28.Saanvi’s income was ₹130 and the profit was ₹30. One expense was ₹90 (sugar). How much was the other expense, for card paper (in ₹)?
29. 29.📒 Income or expense: buying lemons? (a) expense (b) income
30. 30.📒 Income or expense: tutoring fees received? (a) expense (b) income
31. 31.Riya’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹100 (sugar)
    Expense: ₹110 (transport)
    How much is the loss (in ₹)?
32. 32.📒 Income or expense: paying the stall fee? (a) expense (b) income
33. 33.Farhan’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹20 (posters)
    Expense: ₹70 (sugar)
    How much is the loss (in ₹)?
34. 34.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) paying the stall fee (d) money from sales
35. 35.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) printing posters (d) payment for a cake order
36. 36.Rohan’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹140 (lemons)
    Expense: ₹10 (sugar)
    How much is the loss (in ₹)?
37. 37.Nisha’s stall took in ₹270 on Friday, ₹370 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
38. 38.📒 Income or expense: a card order paid? (a) income (b) expense
39. 39.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
40. 40.Dev’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹40 (posters)
    Expense: ₹180 (ribbon)
    What is the profit (in ₹)?

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