Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 100 · 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 an expense (money out)? (a) tutoring fees received (b) a card order paid (c) paying the stall fee (d) payment for a cake order
2. 2.Kabir’s income was ₹270 and the profit was ₹180. One expense was ₹10 (ribbon). How much was the other expense, for card paper (in ₹)?
3. 3.📒 Income or expense: money from sales? (a) expense (b) income
4. 4.Diya’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹330 (evening sales)
   Expense: ₹160 (stall fee)
   Expense: ₹80 (posters)
   What is the profit (in ₹)?
5. 5.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) payment for a cake order (d) buying paper cups
6. 6.📅 When is the best time to update your records? (a) whenever you like (b) never (c) once a year (d) the same day
7. 7.📒 Income or expense: paying the stall fee? (a) income (b) expense
8. 8.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) buying lemons (d) money from sales
9. 9.Ishaan’s record for the day:
   Income: ₹140 (morning sales)
   Income: ₹270 (evening sales)
   Expense: ₹80 (card paper)
   Expense: ₹140 (ribbon)
   What is the profit (in ₹)?
10. 10.Meera’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹120 (sugar)
    Expense: ₹30 (card paper)
    How much is the loss (in ₹)?
11. 11.Aarav’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹30 (transport)
    Expense: ₹240 (stall fee)
    How much is the loss (in ₹)?
12. 12.Which of these is income (money in)? (a) bus fare to the market (b) a card order paid (c) buying lemons (d) printing posters
13. 13.Farhan’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹20 (paper cups)
    Expense: ₹20 (stall fee)
    What is the profit (in ₹)?
14. 14.📒 Income or expense: buying paper cups? (a) income (b) expense
15. 15.Diya’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹60 (lemons)
    Expense: ₹200 (card paper)
    How much is the loss (in ₹)?
16. 16.True or false: “money from sales” is an expense (money out). (a) True (b) False
17. 17.Lakshmi’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹70 (sugar)
    Expense: ₹100 (paper cups)
    What is the profit (in ₹)?
18. 18.Ananya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹40 (lemons)
    Expense: ₹90 (posters)
    What is the profit (in ₹)?
19. 19.Nisha’s record for the day:
    Income: ₹410 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹80 (lemons)
    Expense: ₹100 (transport)
    What is the profit (in ₹)?
20. 20.📒 Income or expense: cash from selling plants? (a) income (b) expense
21. 21.Meera’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹160 (paper cups)
    Expense: ₹110 (posters)
    What is the profit (in ₹)?
22. 22.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) tutoring fees received (d) printing posters
23. 23.Zoya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹50 (transport)
    Expense: ₹30 (stall fee)
    What is the profit (in ₹)?
24. 24.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) income − expenses (d) just the income
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.Meera’s stall took in ₹240 on Friday, ₹350 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
27. 27.True or false: “bus fare to the market” is income (money in). (a) False (b) True
28. 28.Vihaan’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹110 (lemons)
    Expense: ₹50 (ribbon)
    What is the profit (in ₹)?
29. 29.Rohan’s income was ₹460 and the profit was ₹250. One expense was ₹180 (ribbon). How much was the other expense, for card paper (in ₹)?
30. 30.Kabir’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹50 (posters)
    Expense: ₹150 (transport)
    What is the profit (in ₹)?
31. 31.True or false: “paying the stall fee” is income (money in). (a) True (b) False
32. 32.Dev’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹100 (card paper)
    Expense: ₹20 (ribbon)
    How much is the loss (in ₹)?
33. 33.📒 Income or expense: buying lemons? (a) expense (b) income
34. 34.Kabir’s income was ₹290 and the profit was ₹50. One expense was ₹210 (transport). How much was the other expense, for card paper (in ₹)?
35. 35.Meera’s income was ₹400 and the profit was ₹150. One expense was ₹120 (card paper). How much was the other expense, for stall fee (in ₹)?
36. 36.Farhan’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹150 (posters)
    Expense: ₹80 (lemons)
    How much is the loss (in ₹)?
37. 37.📒 Income or expense: printing posters? (a) income (b) expense
38. 38.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) cash from selling plants (d) paying the stall fee
39. 39.Aarav’s stall took in ₹340 on Friday, ₹100 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
40. 40.Saanvi’s income was ₹270 and the profit was ₹160. One expense was ₹20 (lemons). How much was the other expense, for stall fee (in ₹)?

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