Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 139 · 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.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) no reason (d) to look busy
2. 2.Which of these is income (money in)? (a) payment for a cake order (b) paying the stall fee (c) printing posters (d) buying paper cups
3. 3.Diya’s record for a rainy day:
   Income: ₹80 (sales)
   Expense: ₹110 (posters)
   Expense: ₹10 (transport)
   How much is the loss (in ₹)?
4. 4.Aarav’s stall took in ₹380 on Friday, ₹180 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
5. 5.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
6. 6.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) money from sales (d) bus fare to the market
7. 7.Joseph’s record for a rainy day:
   Income: ₹200 (sales)
   Expense: ₹110 (posters)
   Expense: ₹120 (stall fee)
   How much is the loss (in ₹)?
8. 8.Diya’s stall took in ₹230 on Friday, ₹190 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
9. 9.📒 Income or expense: buying paper cups? (a) income (b) expense
10. 10.Lakshmi’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹30 (sugar)
    Expense: ₹30 (paper cups)
    How much is the loss (in ₹)?
11. 11.📅 When is the best time to update your records? (a) once a year (b) never (c) whenever you like (d) the same day
12. 12.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) paying the stall fee (d) cash from selling plants
13. 13.📒 Income or expense: cash from selling plants? (a) expense (b) income
14. 14.Diya’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹130 (sugar)
    Expense: ₹90 (lemons)
    How much is the loss (in ₹)?
15. 15.📒 Income or expense: payment for a cake order? (a) expense (b) income
16. 16.Which of these is an expense (money out)? (a) paying the stall fee (b) money from sales (c) cash from selling plants (d) a card order paid
17. 17.Nisha’s income was ₹280 and the profit was ₹250. One expense was ₹10 (posters). How much was the other expense, for lemons (in ₹)?
18. 18.Gurpreet’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹180 (posters)
    Expense: ₹160 (paper cups)
    What is the profit (in ₹)?
19. 19.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
20. 20.📒 Income or expense: printing posters? (a) income (b) expense
21. 21.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) printing posters (d) money from sales
22. 22.📒 Income or expense: tutoring fees received? (a) income (b) expense
23. 23.➖ Profit in your records = (a) income + expenses (b) just the income (c) income − expenses (d) expenses − income
24. 24.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
25. 25.Which of these is an expense (money out)? (a) tutoring fees received (b) buying paper cups (c) cash from selling plants (d) money from sales
26. 26.Which of these is an expense (money out)? (a) cash from selling plants (b) printing posters (c) payment for a cake order (d) tutoring fees received
27. 27.Meera’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹470 (evening sales)
    Expense: ₹200 (card paper)
    Expense: ₹50 (stall fee)
    What is the profit (in ₹)?
28. 28.Zoya’s stall took in ₹170 on Friday, ₹280 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
29. 29.Farhan’s income was ₹410 and the profit was ₹110. One expense was ₹120 (paper cups). How much was the other expense, for card paper (in ₹)?
30. 30.Meera’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹190 (transport)
    Expense: ₹190 (posters)
    What is the profit (in ₹)?
31. 31.Rohan’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹100 (card paper)
    Expense: ₹200 (posters)
    What is the profit (in ₹)?
32. 32.Saanvi’s stall took in ₹400 on Friday, ₹330 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
33. 33.Dev’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹500 (evening sales)
    Expense: ₹180 (transport)
    Expense: ₹130 (stall fee)
    What is the profit (in ₹)?
34. 34.Zoya’s income was ₹400 and the profit was ₹50. One expense was ₹20 (paper cups). How much was the other expense, for stall fee (in ₹)?
35. 35.Joseph’s stall took in ₹260 on Friday, ₹50 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
36. 36.📒 Income or expense: buying lemons? (a) income (b) expense
37. 37.Lakshmi’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹70 (lemons)
    Expense: ₹120 (paper cups)
    What is the profit (in ₹)?
38. 38.Farhan’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹50 (sugar)
    Expense: ₹70 (ribbon)
    How much is the loss (in ₹)?
39. 39.True or false: “cash from selling plants” is income (money in). (a) True (b) False
40. 40.Aarav’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹30 (card paper)
    Expense: ₹90 (sugar)
    How much is the loss (in ₹)?

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