Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 938 · 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.Joseph’s stall took in ₹400 on Friday, ₹370 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
2. 2.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
3. 3.📒 Income or expense: paying the stall fee? (a) expense (b) income
4. 4.Ananya’s stall took in ₹100 on Friday, ₹210 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
5. 5.Ishaan’s record for a rainy day:
   Income: ₹70 (sales)
   Expense: ₹150 (lemons)
   Expense: ₹10 (transport)
   How much is the loss (in ₹)?
6. 6.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) money from sales (d) bus fare to the market
7. 7.Which of these is income (money in)? (a) bus fare to the market (b) money from sales (c) printing posters (d) buying paper cups
8. 8.True or false: “a card order paid” is income (money in). (a) False (b) True
9. 9.📒 Income or expense: money from sales? (a) income (b) expense
10. 10.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) the bill or receipt (d) only the bag
11. 11.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
12. 12.True or false: “buying paper cups” is income (money in). (a) False (b) True
13. 13.Diya’s stall took in ₹140 on Friday, ₹330 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
14. 14.Dev’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹150 (ribbon)
    Expense: ₹50 (card paper)
    How much is the loss (in ₹)?
15. 15.Kavya’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹100 (ribbon)
    Expense: ₹100 (paper cups)
    What is the profit (in ₹)?
16. 16.Lakshmi’s income was ₹260 and the profit was ₹180. One expense was ₹20 (posters). How much was the other expense, for transport (in ₹)?
17. 17.Meera’s income was ₹270 and the profit was ₹40. One expense was ₹210 (transport). How much was the other expense, for posters (in ₹)?
18. 18.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) tutoring fees received (d) bus fare to the market
19. 19.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) payment for a cake order (d) buying paper cups
20. 20.True or false: “cash from selling plants” is income (money in). (a) False (b) True
21. 21.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) buying paper cups (d) tutoring fees received
22. 22.True or false: “bus fare to the market” is income (money in). (a) True (b) False
23. 23.Farhan’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹110 (posters)
    Expense: ₹110 (lemons)
    What is the profit (in ₹)?
24. 24.📒 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
25. 25.True or false: “buying lemons” is income (money in). (a) True (b) False
26. 26.Kabir’s income was ₹320 and the profit was ₹300. One expense was ₹10 (sugar). How much was the other expense, for paper cups (in ₹)?
27. 27.True or false: “printing posters” is an expense (money out). (a) True (b) False
28. 28.📒 Income or expense: bus fare to the market? (a) income (b) expense
29. 29.📅 When is the best time to update your records? (a) once a year (b) the same day (c) whenever you like (d) never
30. 30.📒 Income or expense: printing posters? (a) expense (b) income
31. 31.Ishaan’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹20 (sugar)
    Expense: ₹100 (card paper)
    What is the profit (in ₹)?
32. 32.Saanvi’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹70 (posters)
    Expense: ₹190 (lemons)
    What is the profit (in ₹)?
33. 33.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) income − expenses (d) just the income
34. 34.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
35. 35.Diya’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹80 (paper cups)
    Expense: ₹80 (transport)
    How much is the loss (in ₹)?
36. 36.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) tutoring fees received (d) paying the stall fee
37. 37.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) a card order paid (d) buying paper cups
38. 38.Dev’s stall took in ₹380 on Friday, ₹140 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
39. 39.📒 Income or expense: payment for a cake order? (a) income (b) expense
40. 40.Kabir’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹20 (paper cups)
    Expense: ₹180 (sugar)
    How much is the loss (in ₹)?

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