Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 975 · 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.➖ Profit in your records = (a) income − expenses (b) just the income (c) expenses − income (d) income + expenses
2. 2.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) printing posters (d) money from sales
3. 3.📅 When is the best time to update your records? (a) whenever you like (b) never (c) once a year (d) the same day
4. 4.Farhan’s stall took in ₹180 on Friday, ₹80 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
5. 5.True or false: “paying the stall fee” is income (money in). (a) True (b) False
6. 6.📒 Income or expense: printing posters? (a) income (b) expense
7. 7.Aarav’s record for a rainy day:
   Income: ₹90 (sales)
   Expense: ₹40 (card paper)
   Expense: ₹80 (sugar)
   How much is the loss (in ₹)?
8. 8.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) no reason (d) to look busy
9. 9.Which of these is an expense (money out)? (a) money from sales (b) paying the stall fee (c) cash from selling plants (d) tutoring fees received
10. 10.Lakshmi’s stall took in ₹260 on Friday, ₹350 on Saturday and ₹220 on Sunday. What was the total income (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.Arjun’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹50 (sugar)
    Expense: ₹20 (stall fee)
    How much is the loss (in ₹)?
13. 13.📒 Income or expense: buying paper cups? (a) expense (b) income
14. 14.Aarav’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹60 (paper cups)
    What is the profit (in ₹)?
15. 15.Kabir’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹130 (stall fee)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?
16. 16.📒 Income or expense: tutoring fees received? (a) expense (b) income
17. 17.Tara’s stall took in ₹300 on Friday, ₹400 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
18. 18.📒 Income or expense: cash from selling plants? (a) expense (b) income
19. 19.Farhan’s income was ₹370 and the profit was ₹110. One expense was ₹140 (lemons). How much was the other expense, for ribbon (in ₹)?
20. 20.True or false: “bus fare to the market” is income (money in). (a) False (b) True
21. 21.📒 Income or expense: paying the stall fee? (a) income (b) expense
22. 22.Farhan’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹140 (lemons)
    Expense: ₹20 (transport)
    What is the profit (in ₹)?
23. 23.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
24. 24.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
25. 25.True or false: “buying paper cups” is income (money in). (a) False (b) True
26. 26.Joseph’s stall took in ₹280 on Friday, ₹140 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
27. 27.📒 Income or expense: buying lemons? (a) expense (b) income
28. 28.Zoya’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹90 (stall fee)
    Expense: ₹60 (paper cups)
    What is the profit (in ₹)?
29. 29.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) buying paper cups (d) tutoring fees received
30. 30.True or false: “printing posters” is an expense (money out). (a) True (b) False
31. 31.Riya’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹20 (card paper)
    Expense: ₹70 (sugar)
    How much is the loss (in ₹)?
32. 32.📒 Income or expense: bus fare to the market? (a) income (b) expense
33. 33.Arjun’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹180 (lemons)
    Expense: ₹60 (stall fee)
    What is the profit (in ₹)?
34. 34.📒 Income or expense: money from sales? (a) expense (b) income
35. 35.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
36. 36.Dev’s income was ₹280 and the profit was ₹140. One expense was ₹100 (sugar). How much was the other expense, for lemons (in ₹)?
37. 37.Farhan’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹130 (paper cups)
    Expense: ₹170 (sugar)
    What is the profit (in ₹)?
38. 38.True or false: “printing posters” is income (money in). (a) True (b) False
39. 39.True or false: “buying lemons” is income (money in). (a) True (b) False
40. 40.Saanvi’s stall took in ₹400 on Friday, ₹240 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?

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