Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 155 · 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 income (money in)? (a) buying lemons (b) printing posters (c) money from sales (d) bus fare to the market
2. 2.Saanvi’s record for the day:
   Income: ₹270 (morning sales)
   Income: ₹80 (evening sales)
   Expense: ₹40 (ribbon)
   Expense: ₹170 (card paper)
   What is the profit (in ₹)?
3. 3.📒 Income or expense: money from sales? (a) income (b) expense
4. 4.Meera’s income was ₹230 and the profit was ₹120. One expense was ₹10 (sugar). How much was the other expense, for paper cups (in ₹)?
5. 5.True or false: “bus fare to the market” is income (money in). (a) True (b) False
6. 6.Joseph’s record for the day:
   Income: ₹30 (morning sales)
   Income: ₹460 (evening sales)
   Expense: ₹150 (card paper)
   Expense: ₹100 (paper cups)
   What is the profit (in ₹)?
7. 7.📒 Income or expense: payment for a cake order? (a) expense (b) income
8. 8.Kavya’s record for a rainy day:
   Income: ₹280 (sales)
   Expense: ₹230 (stall fee)
   Expense: ₹130 (paper cups)
   How much is the loss (in ₹)?
9. 9.Joseph’s stall took in ₹400 on Friday, ₹220 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
10. 10.Farhan’s stall took in ₹370 on Friday, ₹230 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
11. 11.Gurpreet’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹160 (paper cups)
    Expense: ₹50 (posters)
    What is the profit (in ₹)?
12. 12.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) bus fare to the market (d) a card order paid
13. 13.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
14. 14.Lakshmi’s stall took in ₹170 on Friday, ₹60 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
15. 15.📒 Income or expense: cash from selling plants? (a) income (b) expense
16. 16.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
17. 17.Meera’s income was ₹450 and the profit was ₹10. One expense was ₹130 (paper cups). How much was the other expense, for stall fee (in ₹)?
18. 18.Tara’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹70 (transport)
    Expense: ₹50 (posters)
    How much is the loss (in ₹)?
19. 19.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) only the bag (d) the bill or receipt
20. 20.Which of these is income (money in)? (a) buying paper cups (b) payment for a cake order (c) paying the stall fee (d) printing posters
21. 21.Meera’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹200 (posters)
    Expense: ₹80 (paper cups)
    What is the profit (in ₹)?
22. 22.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) income + expenses (d) just the income
23. 23.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) bus fare to the market (d) tutoring fees received
24. 24.Aarav’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹110 (card paper)
    Expense: ₹150 (ribbon)
    What is the profit (in ₹)?
25. 25.Ishaan’s stall took in ₹210 on Friday, ₹300 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
26. 26.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
27. 27.Which of these is an expense (money out)? (a) tutoring fees received (b) printing posters (c) cash from selling plants (d) money from sales
28. 28.📒 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
29. 29.Kavya’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹130 (sugar)
    Expense: ₹60 (paper cups)
    What is the profit (in ₹)?
30. 30.Ishaan’s stall took in ₹330 on Friday, ₹390 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
31. 31.Saanvi’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹180 (sugar)
    Expense: ₹80 (ribbon)
    How much is the loss (in ₹)?
32. 32.True or false: “buying lemons” is an expense (money out). (a) True (b) False
33. 33.Arjun’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹100 (lemons)
    Expense: ₹120 (stall fee)
    What is the profit (in ₹)?
34. 34.True or false: “paying the stall fee” is income (money in). (a) True (b) False
35. 35.📅 When is the best time to update your records? (a) the same day (b) once a year (c) whenever you like (d) never
36. 36.True or false: “tutoring fees received” is income (money in). (a) False (b) True
37. 37.Kabir’s income was ₹270 and the profit was ₹70. One expense was ₹80 (sugar). How much was the other expense, for posters (in ₹)?
38. 38.Diya’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹170 (lemons)
    Expense: ₹170 (transport)
    What is the profit (in ₹)?
39. 39.Meera’s income was ₹320 and the profit was ₹210. One expense was ₹60 (transport). How much was the other expense, for stall fee (in ₹)?
40. 40.📒 Income or expense: buying paper cups? (a) expense (b) income

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