Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 917 · 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) cash from selling plants (b) a card order paid (c) paying the stall fee (d) tutoring fees received
2. 2.Farhan’s record for the day:
   Income: ₹20 (morning sales)
   Income: ₹290 (evening sales)
   Expense: ₹110 (sugar)
   Expense: ₹70 (ribbon)
   What is the profit (in ₹)?
3. 3.True or false: “a card order paid” is income (money in). (a) False (b) True
4. 4.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) no reason (d) to look busy
5. 5.Dev’s record for the day:
   Income: ₹190 (morning sales)
   Income: ₹60 (evening sales)
   Expense: ₹130 (sugar)
   Expense: ₹100 (transport)
   What is the profit (in ₹)?
6. 6.➖ Profit in your records = (a) income + expenses (b) just the income (c) income − expenses (d) expenses − income
7. 7.📒 Income or expense: payment for a cake order? (a) expense (b) income
8. 8.Riya’s stall took in ₹150 on Friday, ₹140 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
9. 9.Lakshmi’s income was ₹190 and the profit was ₹170. One expense was ₹10 (lemons). How much was the other expense, for card paper (in ₹)?
10. 10.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) a selfie (d) nothing
11. 11.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) tutoring fees received (d) buying lemons
12. 12.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) a card order paid (d) printing posters
13. 13.Meera’s income was ₹420 and the profit was ₹150. One expense was ₹80 (lemons). How much was the other expense, for sugar (in ₹)?
14. 14.Lakshmi’s stall took in ₹70 on Friday, ₹140 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
15. 15.Which of these is income (money in)? (a) printing posters (b) money from sales (c) bus fare to the market (d) buying paper cups
16. 16.Kavya’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹80 (paper cups)
    Expense: ₹70 (posters)
    How much is the loss (in ₹)?
17. 17.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) bus fare to the market (d) a card order paid
18. 18.Vihaan’s income was ₹310 and the profit was ₹150. One expense was ₹90 (posters). How much was the other expense, for sugar (in ₹)?
19. 19.True or false: “buying lemons” is income (money in). (a) True (b) False
20. 20.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) payment for a cake order (d) printing posters
21. 21.Riya’s income was ₹460 and the profit was ₹240. One expense was ₹30 (stall fee). How much was the other expense, for card paper (in ₹)?
22. 22.📒 Income or expense: money from sales? (a) expense (b) income
23. 23.Aarav’s income was ₹230 and the profit was ₹110. One expense was ₹50 (transport). How much was the other expense, for posters (in ₹)?
24. 24.Farhan’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹10 (stall fee)
    Expense: ₹150 (sugar)
    How much is the loss (in ₹)?
25. 25.Which of these is an expense (money out)? (a) a card order paid (b) buying paper cups (c) tutoring fees received (d) money from sales
26. 26.Riya’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹170 (transport)
    Expense: ₹20 (sugar)
    What is the profit (in ₹)?
27. 27.Arjun’s stall took in ₹330 on Friday, ₹390 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
28. 28.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
29. 29.📒 Income or expense: paying the stall fee? (a) income (b) expense
30. 30.Rohan’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹310 (card paper)
    Expense: ₹50 (sugar)
    How much is the loss (in ₹)?
31. 31.Which of these is income (money in)? (a) printing posters (b) a card order paid (c) paying the stall fee (d) buying lemons
32. 32.True or false: “bus fare to the market” is income (money in). (a) True (b) False
33. 33.Saanvi’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹10 (sugar)
    Expense: ₹180 (paper cups)
    How much is the loss (in ₹)?
34. 34.📅 When is the best time to update your records? (a) the same day (b) once a year (c) never (d) whenever you like
35. 35.Which of these is income (money in)? (a) cash from selling plants (b) buying paper cups (c) printing posters (d) paying the stall fee
36. 36.Diya’s stall took in ₹210 on Friday, ₹220 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
37. 37.Dev’s income was ₹330 and the profit was ₹110. One expense was ₹50 (transport). How much was the other expense, for posters (in ₹)?
38. 38.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
39. 39.Saanvi’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹40 (posters)
    Expense: ₹90 (paper cups)
    How much is the loss (in ₹)?
40. 40.📒 Income or expense: bus fare to the market? (a) income (b) expense

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