Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 933 · 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) payment for a cake order (b) buying lemons (c) paying the stall fee (d) bus fare to the market
2. 2.📒 Income or expense: money from sales? (a) income (b) expense
3. 3.True or false: “a card order paid” is income (money in). (a) False (b) True
4. 4.📒 Income or expense: payment for a cake order? (a) income (b) expense
5. 5.Gurpreet’s record for the day:
   Income: ₹250 (morning sales)
   Income: ₹300 (evening sales)
   Expense: ₹120 (card paper)
   Expense: ₹180 (posters)
   What is the profit (in ₹)?
6. 6.Dev’s stall took in ₹130 on Friday, ₹330 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
7. 7.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) a selfie (d) the bill or receipt
8. 8.📒 Income or expense: buying paper cups? (a) income (b) expense
9. 9.Rohan’s record for the day:
   Income: ₹20 (morning sales)
   Income: ₹460 (evening sales)
   Expense: ₹180 (paper cups)
   Expense: ₹150 (stall fee)
   What is the profit (in ₹)?
10. 10.Gurpreet’s stall took in ₹70 on Friday, ₹160 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
11. 11.📒 Income or expense: printing posters? (a) income (b) expense
12. 12.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) income + expenses (d) just the income
13. 13.True or false: “buying lemons” is income (money in). (a) False (b) True
14. 14.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
15. 15.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) buying lemons (d) a card order paid
16. 16.📒 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
17. 17.Vihaan’s income was ₹160 and the profit was ₹110. One expense was ₹30 (transport). How much was the other expense, for card paper (in ₹)?
18. 18.📒 Income or expense: a card order paid? (a) income (b) expense
19. 19.📒 Income or expense: paying the stall fee? (a) expense (b) income
20. 20.True or false: “cash from selling plants” is income (money in). (a) True (b) False
21. 21.Which of these is income (money in)? (a) cash from selling plants (b) buying lemons (c) paying the stall fee (d) printing posters
22. 22.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) paying the stall fee (d) tutoring fees received
23. 23.Dev’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹90 (posters)
    Expense: ₹100 (ribbon)
    How much is the loss (in ₹)?
24. 24.Rohan’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹100 (paper cups)
    Expense: ₹120 (stall fee)
    What is the profit (in ₹)?
25. 25.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) bus fare to the market (d) money from sales
26. 26.Dev’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹10 (paper cups)
    Expense: ₹110 (transport)
    How much is the loss (in ₹)?
27. 27.📅 When is the best time to update your records? (a) never (b) once a year (c) the same day (d) whenever you like
28. 28.True or false: “printing posters” is income (money in). (a) False (b) True
29. 29.Kabir’s stall took in ₹90 on Friday, ₹270 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
30. 30.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) tutoring fees received (d) bus fare to the market
31. 31.True or false: “a card order paid” is an expense (money out). (a) True (b) False
32. 32.Kabir’s stall took in ₹290 on Friday, ₹250 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
33. 33.Ananya’s stall took in ₹130 on Friday, ₹330 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
34. 34.📒 Income or expense: cash from selling plants? (a) income (b) expense
35. 35.Which of these is an expense (money out)? (a) bus fare to the market (b) money from sales (c) tutoring fees received (d) a card order paid
36. 36.Gurpreet’s stall took in ₹300 on Friday, ₹70 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
37. 37.📒 Income or expense: buying lemons? (a) income (b) expense
38. 38.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
39. 39.📒 Income or expense: bus fare to the market? (a) expense (b) income
40. 40.Ishaan’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹20 (transport)
    Expense: ₹200 (sugar)
    What is the profit (in ₹)?

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