Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 965 · 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.Nisha’s stall took in ₹130 on Friday, ₹280 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
2. 2.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
3. 3.📒 Income or expense: a card order paid? (a) income (b) expense
4. 4.Gurpreet’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹310 (evening sales)
   Expense: ₹180 (sugar)
   Expense: ₹20 (lemons)
   What is the profit (in ₹)?
5. 5.📒 Income or expense: buying paper cups? (a) income (b) expense
6. 6.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to fill a notebook (d) to look busy
7. 7.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) buying lemons (d) a card order paid
8. 8.Meera’s stall took in ₹360 on Friday, ₹140 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
9. 9.Lakshmi’s record for the day:
   Income: ₹30 (morning sales)
   Income: ₹150 (evening sales)
   Expense: ₹40 (posters)
   Expense: ₹120 (lemons)
   What is the profit (in ₹)?
10. 10.True or false: “paying the stall fee” is income (money in). (a) True (b) False
11. 11.True or false: “money from sales” is income (money in). (a) False (b) True
12. 12.Tara’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹50 (card paper)
    Expense: ₹70 (lemons)
    What is the profit (in ₹)?
13. 13.📒 Income or expense: tutoring fees received? (a) expense (b) income
14. 14.Which of these is an expense (money out)? (a) money from sales (b) paying the stall fee (c) payment for a cake order (d) a card order paid
15. 15.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) nothing (d) the bill or receipt
16. 16.📒 Income or expense: money from sales? (a) expense (b) income
17. 17.True or false: “buying lemons” is an expense (money out). (a) True (b) False
18. 18.📒 Income or expense: printing posters? (a) income (b) expense
19. 19.Gurpreet’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹160 (lemons)
    What is the profit (in ₹)?
20. 20.Which of these is an expense (money out)? (a) tutoring fees received (b) printing posters (c) cash from selling plants (d) money from sales
21. 21.Joseph’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹150 (posters)
    Expense: ₹100 (sugar)
    What is the profit (in ₹)?
22. 22.Kabir’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹30 (transport)
    Expense: ₹50 (posters)
    What is the profit (in ₹)?
23. 23.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) buying lemons (d) cash from selling plants
24. 24.📒 Income or expense: payment for a cake order? (a) expense (b) income
25. 25.📒 Income or expense: buying lemons? (a) expense (b) income
26. 26.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) a card order paid (d) bus fare to the market
27. 27.True or false: “tutoring fees received” is income (money in). (a) False (b) True
28. 28.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) money from sales (d) buying paper cups
29. 29.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) money from sales (d) bus fare to the market
30. 30.Meera’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹60 (card paper)
    Expense: ₹50 (sugar)
    What is the profit (in ₹)?
31. 31.Aarav’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹100 (paper cups)
    Expense: ₹190 (stall fee)
    What is the profit (in ₹)?
32. 32.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
33. 33.True or false: “money from sales” is an expense (money out). (a) True (b) False
34. 34.📅 When is the best time to update your records? (a) never (b) whenever you like (c) the same day (d) once a year
35. 35.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
36. 36.Gurpreet’s stall took in ₹180 on Friday, ₹140 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
37. 37.Rohan’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹90 (transport)
    Expense: ₹110 (stall fee)
    What is the profit (in ₹)?
38. 38.Kavya’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹60 (transport)
    Expense: ₹190 (stall fee)
    How much is the loss (in ₹)?
39. 39.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) cash from selling plants (d) paying the stall fee
40. 40.Dev’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹100 (lemons)
    Expense: ₹250 (card paper)
    How much is the loss (in ₹)?

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