Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 925 · 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 income (money in)? (a) paying the stall fee (b) bus fare to the market (c) tutoring fees received (d) buying lemons
2. 2.📒 Income or expense: buying lemons? (a) income (b) expense
3. 3.➖ Profit in your records = (a) income + expenses (b) just the income (c) expenses − income (d) income − expenses
4. 4.Ishaan’s income was ₹480 and the profit was ₹190. One expense was ₹70 (posters). How much was the other expense, for stall fee (in ₹)?
5. 5.📒 Income or expense: money from sales? (a) income (b) expense
6. 6.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) money from sales (d) paying the stall fee
7. 7.Lakshmi’s income was ₹490 and the profit was ₹370. One expense was ₹20 (posters). How much was the other expense, for stall fee (in ₹)?
8. 8.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) a card order paid (d) printing posters
9. 9.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) buying lemons (d) cash from selling plants
10. 10.True or false: “buying lemons” is income (money in). (a) True (b) False
11. 11.True or false: “payment for a cake order” is income (money in). (a) True (b) False
12. 12.True or false: “money from sales” is income (money in). (a) False (b) True
13. 13.Rohan’s income was ₹420 and the profit was ₹210. One expense was ₹90 (card paper). How much was the other expense, for lemons (in ₹)?
14. 14.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) tutoring fees received (d) bus fare to the market
15. 15.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
16. 16.📒 Income or expense: paying the stall fee? (a) income (b) expense
17. 17.📒 Income or expense: buying paper cups? (a) income (b) expense
18. 18.Nisha’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹210 (sugar)
    Expense: ₹130 (stall fee)
    How much is the loss (in ₹)?
19. 19.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) only the bag (d) the bill or receipt
20. 20.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
21. 21.📅 When is the best time to update your records? (a) never (b) whenever you like (c) the same day (d) once a year
22. 22.Dev’s income was ₹200 and the profit was ₹50. One expense was ₹20 (card paper). How much was the other expense, for sugar (in ₹)?
23. 23.📒 Income or expense: printing posters? (a) expense (b) income
24. 24.Nisha’s stall took in ₹220 on Friday, ₹220 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
25. 25.True or false: “money from sales” is an expense (money out). (a) False (b) True
26. 26.Rohan’s income was ₹360 and the profit was ₹170. One expense was ₹30 (transport). How much was the other expense, for stall fee (in ₹)?
27. 27.True or false: “printing posters” is an expense (money out). (a) True (b) False
28. 28.📒 Income or expense: cash from selling plants? (a) expense (b) income
29. 29.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) paying the stall fee (d) a card order paid
30. 30.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to know the real profit (d) to fill a notebook
31. 31.Joseph’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹90 (lemons)
    Expense: ₹80 (card paper)
    What is the profit (in ₹)?
32. 32.Tara’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹30 (paper cups)
    Expense: ₹20 (transport)
    What is the profit (in ₹)?
33. 33.Tara’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹180 (sugar)
    Expense: ₹10 (ribbon)
    How much is the loss (in ₹)?
34. 34.Saanvi’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹110 (posters)
    Expense: ₹60 (sugar)
    How much is the loss (in ₹)?
35. 35.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) payment for a cake order (d) bus fare to the market
36. 36.Joseph’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹90 (posters)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
37. 37.📒 Income or expense: payment for a cake order? (a) expense (b) income
38. 38.Joseph’s stall took in ₹280 on Friday, ₹240 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
39. 39.Farhan’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹140 (posters)
    Expense: ₹80 (lemons)
    What is the profit (in ₹)?
40. 40.Kavya’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹260 (paper cups)
    Expense: ₹70 (ribbon)
    How much is the loss (in ₹)?

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