Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 936 · 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) expenses − income (b) income − expenses (c) income + expenses (d) just the income
2. 2.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) to know the real profit (d) no reason
3. 3.Nisha’s stall took in ₹250 on Friday, ₹320 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
4. 4.True or false: “payment for a cake order” is income (money in). (a) False (b) True
5. 5.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) payment for a cake order (d) buying lemons
6. 6.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) paying the stall fee (d) payment for a cake order
7. 7.📅 When is the best time to update your records? (a) once a year (b) never (c) the same day (d) whenever you like
8. 8.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
9. 9.Kabir’s record for the day:
   Income: ₹50 (morning sales)
   Income: ₹340 (evening sales)
   Expense: ₹80 (posters)
   Expense: ₹140 (ribbon)
   What is the profit (in ₹)?
10. 10.True or false: “paying the stall fee” is income (money in). (a) True (b) False
11. 11.📒 Income or expense: a card order paid? (a) income (b) expense
12. 12.Farhan’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹140 (transport)
    Expense: ₹30 (sugar)
    What is the profit (in ₹)?
13. 13.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) cash from selling plants (d) bus fare to the market
14. 14.Which of these is an expense (money out)? (a) cash from selling plants (b) paying the stall fee (c) tutoring fees received (d) a card order paid
15. 15.True or false: “buying paper cups” is income (money in). (a) True (b) False
16. 16.📒 Income or expense: buying paper cups? (a) income (b) expense
17. 17.Diya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹80 (sugar)
    Expense: ₹80 (card paper)
    What is the profit (in ₹)?
18. 18.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) buying paper cups (d) payment for a cake order
19. 19.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) the bill or receipt (d) nothing
20. 20.Arjun’s record for the day:
    Income: ₹390 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹110 (posters)
    Expense: ₹150 (lemons)
    What is the profit (in ₹)?
21. 21.Tara’s income was ₹460 and the profit was ₹420. One expense was ₹10 (stall fee). How much was the other expense, for card paper (in ₹)?
22. 22.Zoya’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹170 (card paper)
    Expense: ₹180 (posters)
    What is the profit (in ₹)?
23. 23.Kabir’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹40 (sugar)
    Expense: ₹60 (posters)
    How much is the loss (in ₹)?
24. 24.True or false: “buying lemons” is income (money in). (a) False (b) True
25. 25.Aarav’s stall took in ₹60 on Friday, ₹220 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
26. 26.True or false: “a card order paid” is income (money in). (a) False (b) True
27. 27.Farhan’s stall took in ₹360 on Friday, ₹380 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
28. 28.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
29. 29.Tara’s stall took in ₹270 on Friday, ₹200 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
30. 30.Diya’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹160 (stall fee)
    Expense: ₹140 (card paper)
    How much is the loss (in ₹)?
31. 31.Riya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹190 (paper cups)
    Expense: ₹40 (sugar)
    What is the profit (in ₹)?
32. 32.Joseph’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹20 (paper cups)
    Expense: ₹180 (ribbon)
    How much is the loss (in ₹)?
33. 33.Aarav’s income was ₹460 and the profit was ₹440. One expense was ₹10 (ribbon). How much was the other expense, for transport (in ₹)?
34. 34.Ishaan’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹90 (ribbon)
    Expense: ₹100 (transport)
    What is the profit (in ₹)?
35. 35.Diya’s stall took in ₹340 on Friday, ₹100 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
36. 36.Gurpreet’s income was ₹130 and the profit was ₹40. One expense was ₹30 (ribbon). How much was the other expense, for transport (in ₹)?
37. 37.📒 Income or expense: money from sales? (a) income (b) expense
38. 38.Which of these is an expense (money out)? (a) tutoring fees received (b) bus fare to the market (c) payment for a cake order (d) a card order paid
39. 39.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
40. 40.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False

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