Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 914 · 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) tutoring fees received (b) paying the stall fee (c) payment for a cake order (d) money from sales
2. 2.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) printing posters (d) money from sales
3. 3.Meera’s record for the day:
   Income: ₹100 (morning sales)
   Income: ₹330 (evening sales)
   Expense: ₹120 (posters)
   Expense: ₹80 (lemons)
   What is the profit (in ₹)?
4. 4.Vihaan’s record for a rainy day:
   Income: ₹290 (sales)
   Expense: ₹90 (paper cups)
   Expense: ₹220 (card paper)
   How much is the loss (in ₹)?
5. 5.True or false: “printing posters” is an expense (money out). (a) False (b) True
6. 6.Vihaan’s record for the day:
   Income: ₹120 (morning sales)
   Income: ₹450 (evening sales)
   Expense: ₹170 (posters)
   Expense: ₹180 (sugar)
   What is the profit (in ₹)?
7. 7.📒 Income or expense: money from sales? (a) income (b) expense
8. 8.True or false: “paying the stall fee” is income (money in). (a) True (b) False
9. 9.📒 Income or expense: tutoring fees received? (a) income (b) expense
10. 10.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) buying lemons (d) payment for a cake order
11. 11.📅 When is the best time to update your records? (a) whenever you like (b) never (c) once a year (d) the same day
12. 12.True or false: “money from sales” is income (money in). (a) False (b) True
13. 13.Vihaan’s stall took in ₹140 on Friday, ₹70 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
14. 14.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) income − expenses (d) just the income
15. 15.📒 Income or expense: paying the stall fee? (a) expense (b) income
16. 16.Nisha’s income was ₹490 and the profit was ₹410. One expense was ₹60 (lemons). How much was the other expense, for transport (in ₹)?
17. 17.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) bus fare to the market (d) money from sales
18. 18.True or false: “buying lemons” is income (money in). (a) True (b) False
19. 19.Ishaan’s income was ₹390 and the profit was ₹310. One expense was ₹30 (paper cups). How much was the other expense, for stall fee (in ₹)?
20. 20.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) money from sales (d) paying the stall fee
21. 21.Lakshmi’s stall took in ₹170 on Friday, ₹140 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
22. 22.Farhan’s stall took in ₹150 on Friday, ₹60 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
23. 23.Meera’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹50 (lemons)
    Expense: ₹280 (sugar)
    How much is the loss (in ₹)?
24. 24.Farhan’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹90 (ribbon)
    Expense: ₹60 (lemons)
    What is the profit (in ₹)?
25. 25.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) the bill or receipt (d) only the bag
26. 26.Tara’s income was ₹210 and the profit was ₹130. One expense was ₹70 (paper cups). How much was the other expense, for transport (in ₹)?
27. 27.Riya’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹50 (paper cups)
    Expense: ₹80 (ribbon)
    How much is the loss (in ₹)?
28. 28.📒 Income or expense: a card order paid? (a) income (b) expense
29. 29.Joseph’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹80 (paper cups)
    Expense: ₹150 (stall fee)
    What is the profit (in ₹)?
30. 30.Nisha’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹130 (ribbon)
    Expense: ₹40 (lemons)
    How much is the loss (in ₹)?
31. 31.Joseph’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹250 (posters)
    Expense: ₹40 (card paper)
    How much is the loss (in ₹)?
32. 32.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) tutoring fees received (d) printing posters
33. 33.Riya’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹90 (posters)
    Expense: ₹60 (stall fee)
    How much is the loss (in ₹)?
34. 34.Riya’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹50 (posters)
    Expense: ₹280 (transport)
    How much is the loss (in ₹)?
35. 35.True or false: “money from sales” is an expense (money out). (a) True (b) False
36. 36.📒 Income or expense: buying lemons? (a) expense (b) income
37. 37.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
38. 38.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) tutoring fees received (d) buying paper cups
39. 39.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) to fill a notebook (d) no reason
40. 40.Ishaan’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹170 (stall fee)
    Expense: ₹60 (posters)
    What is the profit (in ₹)?

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