Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 943 · 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) tutoring fees received (b) cash from selling plants (c) money from sales (d) bus fare to the market
2. 2.Farhan’s record for the day:
   Income: ₹290 (morning sales)
   Income: ₹40 (evening sales)
   Expense: ₹140 (ribbon)
   Expense: ₹130 (lemons)
   What is the profit (in ₹)?
3. 3.📒 Income or expense: money from sales? (a) income (b) expense
4. 4.True or false: “payment for a cake order” is income (money in). (a) False (b) True
5. 5.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
6. 6.➖ Profit in your records = (a) just the income (b) income − expenses (c) expenses − income (d) income + expenses
7. 7.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) paying the stall fee (d) cash from selling plants
8. 8.Which of these is income (money in)? (a) printing posters (b) cash from selling plants (c) bus fare to the market (d) paying the stall fee
9. 9.Kavya’s income was ₹140 and the profit was ₹20. One expense was ₹100 (lemons). How much was the other expense, for stall fee (in ₹)?
10. 10.Joseph’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹90 (ribbon)
    Expense: ₹180 (lemons)
    How much is the loss (in ₹)?
11. 11.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) only the bag (d) the bill or receipt
12. 12.Zoya’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹140 (posters)
    Expense: ₹20 (card paper)
    What is the profit (in ₹)?
13. 13.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) to look busy (d) no reason
14. 14.Which of these is income (money in)? (a) tutoring fees received (b) buying lemons (c) buying paper cups (d) bus fare to the market
15. 15.Lakshmi’s record for the day:
    Income: ₹510 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹130 (stall fee)
    Expense: ₹200 (transport)
    What is the profit (in ₹)?
16. 16.Meera’s stall took in ₹270 on Friday, ₹230 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
17. 17.True or false: “money from sales” is income (money in). (a) False (b) True
18. 18.True or false: “a card order paid” is income (money in). (a) False (b) True
19. 19.📒 Income or expense: buying lemons? (a) income (b) expense
20. 20.📒 Income or expense: payment for a cake order? (a) expense (b) income
21. 21.Farhan’s stall took in ₹50 on Friday, ₹220 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
22. 22.Diya’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹130 (stall fee)
    Expense: ₹40 (ribbon)
    How much is the loss (in ₹)?
23. 23.Aarav’s stall took in ₹260 on Friday, ₹240 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
24. 24.Which of these is an expense (money out)? (a) cash from selling plants (b) buying paper cups (c) tutoring fees received (d) a card order paid
25. 25.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
26. 26.Which of these is income (money in)? (a) payment for a cake order (b) bus fare to the market (c) printing posters (d) buying lemons
27. 27.📅 When is the best time to update your records? (a) once a year (b) never (c) whenever you like (d) the same day
28. 28.📒 Income or expense: tutoring fees received? (a) income (b) expense
29. 29.📒 Income or expense: bus fare to the market? (a) expense (b) income
30. 30.Farhan’s stall took in ₹60 on Friday, ₹400 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
31. 31.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) bus fare to the market (d) a card order paid
32. 32.📒 Income or expense: buying paper cups? (a) income (b) expense
33. 33.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
34. 34.Vihaan’s stall took in ₹50 on Friday, ₹170 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
35. 35.Ishaan’s stall took in ₹170 on Friday, ₹200 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
36. 36.Vihaan’s income was ₹450 and the profit was ₹100. One expense was ₹100 (paper cups). How much was the other expense, for posters (in ₹)?
37. 37.Diya’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹20 (posters)
    Expense: ₹130 (lemons)
    What is the profit (in ₹)?
38. 38.Tara’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹100 (sugar)
    Expense: ₹110 (transport)
    How much is the loss (in ₹)?
39. 39.Ananya’s income was ₹480 and the profit was ₹280. One expense was ₹20 (stall fee). How much was the other expense, for lemons (in ₹)?
40. 40.True or false: “buying lemons” is income (money in). (a) False (b) True

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