Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 147 · 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.True or false: “buying paper cups” is income (money in). (a) False (b) True
2. 2.📒 Income or expense: cash from selling plants? (a) income (b) expense
3. 3.📒 Income or expense: printing posters? (a) income (b) expense
4. 4.Diya’s record for a rainy day:
   Income: ₹290 (sales)
   Expense: ₹190 (transport)
   Expense: ₹190 (ribbon)
   How much is the loss (in ₹)?
5. 5.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) paying the stall fee (d) tutoring fees received
6. 6.Meera’s income was ₹480 and the profit was ₹20. One expense was ₹40 (posters). How much was the other expense, for ribbon (in ₹)?
7. 7.Kabir’s income was ₹470 and the profit was ₹170. One expense was ₹130 (posters). How much was the other expense, for paper cups (in ₹)?
8. 8.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) income − expenses (d) just the income
9. 9.True or false: “money from sales” is an expense (money out). (a) False (b) True
10. 10.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) buying lemons (d) cash from selling plants
11. 11.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to know the real profit (d) to look busy
12. 12.Kabir’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹150 (sugar)
    Expense: ₹40 (card paper)
    What is the profit (in ₹)?
13. 13.Meera’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹50 (posters)
    Expense: ₹80 (lemons)
    What is the profit (in ₹)?
14. 14.Joseph’s stall took in ₹240 on Friday, ₹120 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
15. 15.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
16. 16.Tara’s income was ₹430 and the profit was ₹170. One expense was ₹240 (transport). How much was the other expense, for paper cups (in ₹)?
17. 17.📒 Income or expense: tutoring fees received? (a) income (b) expense
18. 18.Aarav’s stall took in ₹310 on Friday, ₹160 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
19. 19.Vihaan’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹140 (paper cups)
    Expense: ₹180 (transport)
    How much is the loss (in ₹)?
20. 20.Farhan’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹30 (stall fee)
    Expense: ₹60 (paper cups)
    How much is the loss (in ₹)?
21. 21.Meera’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹150 (transport)
    Expense: ₹60 (card paper)
    How much is the loss (in ₹)?
22. 22.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) buying lemons (d) cash from selling plants
23. 23.📒 Income or expense: payment for a cake order? (a) expense (b) income
24. 24.Ananya’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹200 (transport)
    Expense: ₹70 (paper cups)
    How much is the loss (in ₹)?
25. 25.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
26. 26.True or false: “buying lemons” is income (money in). (a) True (b) False
27. 27.Nisha’s stall took in ₹320 on Friday, ₹340 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
28. 28.Rohan’s income was ₹230 and the profit was ₹150. One expense was ₹60 (paper cups). How much was the other expense, for sugar (in ₹)?
29. 29.Which of these is income (money in)? (a) buying lemons (b) money from sales (c) buying paper cups (d) bus fare to the market
30. 30.Gurpreet’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹40 (lemons)
    Expense: ₹70 (ribbon)
    How much is the loss (in ₹)?
31. 31.Kabir’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹150 (stall fee)
    Expense: ₹90 (lemons)
    How much is the loss (in ₹)?
32. 32.📒 Income or expense: buying paper cups? (a) expense (b) income
33. 33.Gurpreet’s income was ₹120 and the profit was ₹10. One expense was ₹60 (card paper). How much was the other expense, for paper cups (in ₹)?
34. 34.Tara’s stall took in ₹170 on Friday, ₹120 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
35. 35.📅 When is the best time to update your records? (a) once a year (b) never (c) the same day (d) whenever you like
36. 36.📒 Income or expense: money from sales? (a) income (b) expense
37. 37.True or false: “paying the stall fee” is income (money in). (a) True (b) False
38. 38.Lakshmi’s stall took in ₹160 on Friday, ₹220 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
39. 39.Joseph’s stall took in ₹120 on Friday, ₹180 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
40. 40.Tara’s income was ₹390 and the profit was ₹260. One expense was ₹120 (transport). How much was the other expense, for posters (in ₹)?

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