Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 97 · 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.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
2. 2.📒 Income or expense: a card order paid? (a) income (b) expense
3. 3.Farhan’s stall took in ₹110 on Friday, ₹290 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
4. 4.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) cash from selling plants (d) bus fare to the market
5. 5.Tara’s stall took in ₹160 on Friday, ₹220 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
6. 6.Which of these is an expense (money out)? (a) a card order paid (b) paying the stall fee (c) cash from selling plants (d) money from sales
7. 7.Joseph’s stall took in ₹140 on Friday, ₹160 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
8. 8.True or false: “payment for a cake order” is income (money in). (a) False (b) True
9. 9.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) payment for a cake order (d) buying lemons
10. 10.Kavya’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹100 (stall fee)
    Expense: ₹40 (paper cups)
    What is the profit (in ₹)?
11. 11.➖ Profit in your records = (a) income − expenses (b) income + expenses (c) expenses − income (d) just the income
12. 12.Lakshmi’s stall took in ₹100 on Friday, ₹350 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
13. 13.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) tutoring fees received (d) bus fare to the market
14. 14.Joseph’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹70 (posters)
    Expense: ₹180 (card paper)
    What is the profit (in ₹)?
15. 15.True or false: “printing posters” is income (money in). (a) True (b) False
16. 16.Joseph’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹430 (evening sales)
    Expense: ₹140 (sugar)
    Expense: ₹40 (card paper)
    What is the profit (in ₹)?
17. 17.Rohan’s income was ₹350 and the profit was ₹170. One expense was ₹50 (sugar). How much was the other expense, for paper cups (in ₹)?
18. 18.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
19. 19.True or false: “buying lemons” is income (money in). (a) False (b) True
20. 20.Ananya’s stall took in ₹120 on Friday, ₹350 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
21. 21.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) a card order paid (d) buying paper cups
22. 22.Lakshmi’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹150 (ribbon)
    Expense: ₹220 (lemons)
    How much is the loss (in ₹)?
23. 23.Zoya’s stall took in ₹90 on Friday, ₹140 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
24. 24.Rohan’s income was ₹320 and the profit was ₹60. One expense was ₹170 (posters). How much was the other expense, for card paper (in ₹)?
25. 25.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) no reason (d) to know the real profit
26. 26.📒 Income or expense: bus fare to the market? (a) expense (b) income
27. 27.📒 Income or expense: money from sales? (a) income (b) expense
28. 28.Ishaan’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹80 (stall fee)
    Expense: ₹60 (card paper)
    What is the profit (in ₹)?
29. 29.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) a selfie (d) only the bag
30. 30.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
31. 31.Vihaan’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹30 (stall fee)
    Expense: ₹50 (posters)
    What is the profit (in ₹)?
32. 32.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) bus fare to the market (d) a card order paid
33. 33.📒 Income or expense: payment for a cake order? (a) income (b) expense
34. 34.Arjun’s stall took in ₹150 on Friday, ₹310 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
35. 35.True or false: “paying the stall fee” is income (money in). (a) False (b) True
36. 36.True or false: “money from sales” is an expense (money out). (a) True (b) False
37. 37.📒 Income or expense: buying paper cups? (a) income (b) expense
38. 38.Joseph’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹90 (ribbon)
    Expense: ₹160 (sugar)
    What is the profit (in ₹)?
39. 39.Ananya’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹80 (stall fee)
    Expense: ₹100 (lemons)
    What is the profit (in ₹)?
40. 40.Lakshmi’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹70 (ribbon)
    Expense: ₹150 (paper cups)
    What is the profit (in ₹)?

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