Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 194 · 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.Riya’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹20 (transport)
   Expense: ₹150 (posters)
   How much is the loss (in ₹)?
2. 2.True or false: “cash from selling plants” is income (money in). (a) False (b) True
3. 3.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
4. 4.Tara’s record for a rainy day:
   Income: ₹60 (sales)
   Expense: ₹70 (stall fee)
   Expense: ₹10 (paper cups)
   How much is the loss (in ₹)?
5. 5.Vihaan’s record for the day:
   Income: ₹120 (morning sales)
   Income: ₹50 (evening sales)
   Expense: ₹60 (ribbon)
   Expense: ₹80 (stall fee)
   What is the profit (in ₹)?
6. 6.Meera’s record for the day:
   Income: ₹320 (morning sales)
   Income: ₹50 (evening sales)
   Expense: ₹170 (paper cups)
   Expense: ₹120 (sugar)
   What is the profit (in ₹)?
7. 7.True or false: “bus fare to the market” is income (money in). (a) True (b) False
8. 8.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) money from sales (d) buying paper cups
9. 9.Diya’s income was ₹190 and the profit was ₹150. One expense was ₹20 (sugar). How much was the other expense, for paper cups (in ₹)?
10. 10.📒 Income or expense: a card order paid? (a) income (b) expense
11. 11.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to look busy (d) to fill a notebook
12. 12.📒 Income or expense: money from sales? (a) expense (b) income
13. 13.Dev’s income was ₹480 and the profit was ₹310. One expense was ₹50 (card paper). How much was the other expense, for posters (in ₹)?
14. 14.Kavya’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹70 (lemons)
    Expense: ₹70 (stall fee)
    What is the profit (in ₹)?
15. 15.Ananya’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹50 (lemons)
    Expense: ₹110 (posters)
    How much is the loss (in ₹)?
16. 16.True or false: “printing posters” is income (money in). (a) True (b) False
17. 17.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) payment for a cake order (d) bus fare to the market
18. 18.Nisha’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹130 (lemons)
    Expense: ₹120 (posters)
    How much is the loss (in ₹)?
19. 19.Zoya’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹70 (ribbon)
    Expense: ₹130 (sugar)
    What is the profit (in ₹)?
20. 20.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) buying paper cups (d) tutoring fees received
21. 21.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) printing posters (d) tutoring fees received
22. 22.Ananya’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹100 (card paper)
    Expense: ₹160 (paper cups)
    How much is the loss (in ₹)?
23. 23.True or false: “printing posters” is an expense (money out). (a) True (b) False
24. 24.📒 Income or expense: paying the stall fee? (a) income (b) expense
25. 25.Lakshmi’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹20 (card paper)
    Expense: ₹50 (lemons)
    What is the profit (in ₹)?
26. 26.Kabir’s stall took in ₹110 on Friday, ₹150 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
27. 27.Lakshmi’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹30 (stall fee)
    Expense: ₹90 (paper cups)
    What is the profit (in ₹)?
28. 28.📒 Income or expense: tutoring fees received? (a) income (b) expense
29. 29.Vihaan’s income was ₹270 and the profit was ₹150. One expense was ₹20 (paper cups). How much was the other expense, for posters (in ₹)?
30. 30.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) the bill or receipt (d) only the bag
31. 31.Saanvi’s income was ₹390 and the profit was ₹140. One expense was ₹10 (stall fee). How much was the other expense, for lemons (in ₹)?
32. 32.Nisha’s income was ₹110 and the profit was ₹50. One expense was ₹30 (transport). How much was the other expense, for card paper (in ₹)?
33. 33.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) printing posters (d) payment for a cake order
34. 34.Aarav’s stall took in ₹100 on Friday, ₹110 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
35. 35.📅 When is the best time to update your records? (a) never (b) the same day (c) whenever you like (d) once a year
36. 36.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) expenses − income (d) just the income
37. 37.Saanvi’s stall took in ₹380 on Friday, ₹360 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
38. 38.Ishaan’s stall took in ₹290 on Friday, ₹190 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
39. 39.Aarav’s income was ₹300 and the profit was ₹40. One expense was ₹60 (stall fee). How much was the other expense, for card paper (in ₹)?
40. 40.Tara’s income was ₹230 and the profit was ₹210. One expense was ₹10 (posters). How much was the other expense, for paper cups (in ₹)?

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