Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 989 · 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) just the income (b) expenses − income (c) income + expenses (d) income − expenses
2. 2.📒 Income or expense: payment for a cake order? (a) expense (b) income
3. 3.📒 Income or expense: a card order paid? (a) income (b) expense
4. 4.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
5. 5.Meera’s record for the day:
   Income: ₹60 (morning sales)
   Income: ₹190 (evening sales)
   Expense: ₹40 (card paper)
   Expense: ₹200 (transport)
   What is the profit (in ₹)?
6. 6.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) only the bag (d) a selfie
7. 7.Zoya’s record for a rainy day:
   Income: ₹60 (sales)
   Expense: ₹10 (paper cups)
   Expense: ₹150 (transport)
   How much is the loss (in ₹)?
8. 8.Aarav’s income was ₹220 and the profit was ₹10. One expense was ₹170 (transport). How much was the other expense, for paper cups (in ₹)?
9. 9.Arjun’s income was ₹310 and the profit was ₹260. One expense was ₹30 (posters). How much was the other expense, for transport (in ₹)?
10. 10.Vihaan’s income was ₹100 and the profit was ₹10. One expense was ₹40 (paper cups). How much was the other expense, for sugar (in ₹)?
11. 11.Lakshmi’s income was ₹480 and the profit was ₹40. One expense was ₹380 (sugar). How much was the other expense, for ribbon (in ₹)?
12. 12.Meera’s stall took in ₹330 on Friday, ₹340 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
13. 13.Which of these is an expense (money out)? (a) tutoring fees received (b) buying paper cups (c) payment for a cake order (d) cash from selling plants
14. 14.True or false: “money from sales” is an expense (money out). (a) False (b) True
15. 15.Meera’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹120 (transport)
    Expense: ₹100 (ribbon)
    What is the profit (in ₹)?
16. 16.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
17. 17.Kavya’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹410 (evening sales)
    Expense: ₹130 (card paper)
    Expense: ₹20 (ribbon)
    What is the profit (in ₹)?
18. 18.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
19. 19.📒 Income or expense: cash from selling plants? (a) expense (b) income
20. 20.📒 Income or expense: buying paper cups? (a) expense (b) income
21. 21.📒 Income or expense: printing posters? (a) income (b) expense
22. 22.True or false: “buying lemons” is an expense (money out). (a) False (b) True
23. 23.True or false: “printing posters” is an expense (money out). (a) True (b) False
24. 24.📒 Income or expense: bus fare to the market? (a) income (b) expense
25. 25.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) money from sales (d) printing posters
26. 26.True or false: “printing posters” is income (money in). (a) True (b) False
27. 27.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
28. 28.Ananya’s income was ₹120 and the profit was ₹40. One expense was ₹40 (sugar). How much was the other expense, for posters (in ₹)?
29. 29.Aarav’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹60 (ribbon)
    Expense: ₹210 (lemons)
    How much is the loss (in ₹)?
30. 30.Vihaan’s stall took in ₹60 on Friday, ₹220 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
31. 31.📒 Income or expense: buying lemons? (a) expense (b) income
32. 32.Ananya’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹80 (paper cups)
    Expense: ₹70 (transport)
    What is the profit (in ₹)?
33. 33.Vihaan’s income was ₹420 and the profit was ₹310. One expense was ₹30 (paper cups). How much was the other expense, for ribbon (in ₹)?
34. 34.Ananya’s income was ₹410 and the profit was ₹180. One expense was ₹50 (card paper). How much was the other expense, for lemons (in ₹)?
35. 35.Which of these is income (money in)? (a) bus fare to the market (b) payment for a cake order (c) paying the stall fee (d) buying lemons
36. 36.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to look busy (d) to know the real profit
37. 37.📒 Income or expense: paying the stall fee? (a) income (b) expense
38. 38.True or false: “a card order paid” is an expense (money out). (a) False (b) True
39. 39.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) tutoring fees received (d) paying the stall fee
40. 40.Ishaan’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹110 (lemons)
    Expense: ₹90 (card paper)
    How much is the loss (in ₹)?

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