Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 129 · 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.📒 Income or expense: a card order paid? (a) expense (b) income
2. 2.Gurpreet’s record for a rainy day:
   Income: ₹120 (sales)
   Expense: ₹190 (transport)
   Expense: ₹20 (stall fee)
   How much is the loss (in ₹)?
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.Tara’s income was ₹250 and the profit was ₹190. One expense was ₹20 (ribbon). How much was the other expense, for paper cups (in ₹)?
5. 5.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) cash from selling plants (d) bus fare to the market
6. 6.📒 Income or expense: money from sales? (a) income (b) expense
7. 7.True or false: “money from sales” is an expense (money out). (a) False (b) True
8. 8.Joseph’s record for a rainy day:
   Income: ₹150 (sales)
   Expense: ₹130 (lemons)
   Expense: ₹60 (stall fee)
   How much is the loss (in ₹)?
9. 9.Joseph’s record for the day:
   Income: ₹170 (morning sales)
   Income: ₹320 (evening sales)
   Expense: ₹170 (lemons)
   Expense: ₹150 (ribbon)
   What is the profit (in ₹)?
10. 10.Kabir’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹190 (transport)
    Expense: ₹130 (posters)
    What is the profit (in ₹)?
11. 11.📒 Income or expense: tutoring fees received? (a) expense (b) income
12. 12.Rohan’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹80 (sugar)
    Expense: ₹30 (paper cups)
    What is the profit (in ₹)?
13. 13.Meera’s stall took in ₹290 on Friday, ₹150 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
14. 14.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) cash from selling plants (d) printing posters
15. 15.➖ Profit in your records = (a) just the income (b) income − expenses (c) income + expenses (d) expenses − income
16. 16.Diya’s income was ₹390 and the profit was ₹320. One expense was ₹40 (paper cups). How much was the other expense, for sugar (in ₹)?
17. 17.Aarav’s stall took in ₹400 on Friday, ₹310 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
18. 18.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) payment for a cake order (d) buying paper cups
19. 19.Arjun’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹20 (sugar)
    Expense: ₹90 (card paper)
    What is the profit (in ₹)?
20. 20.Zoya’s record for the day:
    Income: ₹490 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹100 (transport)
    Expense: ₹190 (lemons)
    What is the profit (in ₹)?
21. 21.Diya’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹210 (sugar)
    Expense: ₹80 (paper cups)
    How much is the loss (in ₹)?
22. 22.Diya’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹310 (card paper)
    Expense: ₹30 (lemons)
    How much is the loss (in ₹)?
23. 23.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt
24. 24.True or false: “cash from selling plants” is income (money in). (a) False (b) True
25. 25.True or false: “printing posters” is an expense (money out). (a) False (b) True
26. 26.Which of these is an expense (money out)? (a) cash from selling plants (b) bus fare to the market (c) payment for a cake order (d) money from sales
27. 27.Kavya’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹160 (card paper)
    Expense: ₹50 (posters)
    What is the profit (in ₹)?
28. 28.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) buying lemons (d) a card order paid
29. 29.Lakshmi’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹100 (paper cups)
    Expense: ₹80 (lemons)
    How much is the loss (in ₹)?
30. 30.📒 Income or expense: buying paper cups? (a) expense (b) income
31. 31.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) tutoring fees received (d) buying paper cups
32. 32.📒 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
33. 33.Dev’s income was ₹250 and the profit was ₹30. One expense was ₹130 (paper cups). How much was the other expense, for posters (in ₹)?
34. 34.True or false: “buying paper cups” is income (money in). (a) False (b) True
35. 35.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
36. 36.📒 Income or expense: bus fare to the market? (a) income (b) expense
37. 37.True or false: “buying lemons” is income (money in). (a) False (b) True
38. 38.Which of these is income (money in)? (a) tutoring fees received (b) buying paper cups (c) paying the stall fee (d) printing posters
39. 39.Meera’s stall took in ₹300 on Friday, ₹380 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
40. 40.Arjun’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹180 (stall fee)
    Expense: ₹90 (paper cups)
    What is the profit (in ₹)?

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