Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 96 · 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) bus fare to the market (b) buying lemons (c) buying paper cups (d) money from sales
2. 2.📒 Income or expense: printing posters? (a) income (b) expense
3. 3.True or false: “bus fare to the market” is income (money in). (a) False (b) True
4. 4.Gurpreet’s stall took in ₹200 on Friday, ₹90 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
5. 5.📒 Income or expense: a card order paid? (a) expense (b) income
6. 6.📒 Income or expense: paying the stall fee? (a) expense (b) income
7. 7.Saanvi’s record for the day:
   Income: ₹380 (morning sales)
   Income: ₹60 (evening sales)
   Expense: ₹140 (stall fee)
   Expense: ₹20 (paper cups)
   What is the profit (in ₹)?
8. 8.📒 Income or expense: buying paper cups? (a) income (b) expense
9. 9.📒 Income or expense: bus fare to the market? (a) expense (b) income
10. 10.Which of these is income (money in)? (a) cash from selling plants (b) bus fare to the market (c) printing posters (d) buying lemons
11. 11.Diya’s income was ₹400 and the profit was ₹370. One expense was ₹20 (ribbon). How much was the other expense, for card paper (in ₹)?
12. 12.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) the bill or receipt (d) nothing
13. 13.Kavya’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹20 (transport)
    Expense: ₹200 (posters)
    What is the profit (in ₹)?
14. 14.Ananya’s income was ₹180 and the profit was ₹10. One expense was ₹50 (card paper). How much was the other expense, for lemons (in ₹)?
15. 15.📒 Income or expense: payment for a cake order? (a) income (b) expense
16. 16.True or false: “printing posters” is income (money in). (a) True (b) False
17. 17.Which of these is income (money in)? (a) buying paper cups (b) payment for a cake order (c) buying lemons (d) printing posters
18. 18.True or false: “a card order paid” is an expense (money out). (a) True (b) False
19. 19.Riya’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹60 (sugar)
    Expense: ₹80 (paper cups)
    How much is the loss (in ₹)?
20. 20.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) tutoring fees received (d) bus fare to the market
21. 21.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
22. 22.Rohan’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹160 (ribbon)
    Expense: ₹20 (sugar)
    What is the profit (in ₹)?
23. 23.Rohan’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹140 (lemons)
    Expense: ₹120 (posters)
    What is the profit (in ₹)?
24. 24.Diya’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹80 (card paper)
    Expense: ₹100 (ribbon)
    What is the profit (in ₹)?
25. 25.True or false: “buying lemons” is an expense (money out). (a) True (b) False
26. 26.Nisha’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹50 (stall fee)
    Expense: ₹140 (transport)
    How much is the loss (in ₹)?
27. 27.📅 When is the best time to update your records? (a) once a year (b) the same day (c) whenever you like (d) never
28. 28.Rohan’s income was ₹490 and the profit was ₹80. One expense was ₹210 (paper cups). How much was the other expense, for card paper (in ₹)?
29. 29.Tara’s income was ₹390 and the profit was ₹250. One expense was ₹10 (lemons). How much was the other expense, for posters (in ₹)?
30. 30.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) to look busy (d) no reason
31. 31.Kabir’s stall took in ₹390 on Friday, ₹360 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
32. 32.Which of these is an expense (money out)? (a) tutoring fees received (b) buying lemons (c) a card order paid (d) money from sales
33. 33.True or false: “buying lemons” is income (money in). (a) False (b) True
34. 34.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
35. 35.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
36. 36.📒 Income or expense: money from sales? (a) expense (b) income
37. 37.Dev’s income was ₹460 and the profit was ₹240. One expense was ₹100 (card paper). How much was the other expense, for lemons (in ₹)?
38. 38.Which of these is an expense (money out)? (a) money from sales (b) buying paper cups (c) a card order paid (d) payment for a cake order
39. 39.Ishaan’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹130 (stall fee)
    Expense: ₹160 (transport)
    How much is the loss (in ₹)?
40. 40.True or false: “money from sales” is income (money in). (a) False (b) True

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