Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 198 · 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.➖ Profit in your records = (a) expenses − income (b) just the income (c) income + expenses (d) income − expenses
2. 2.True or false: “printing posters” is an expense (money out). (a) False (b) True
3. 3.Which of these is income (money in)? (a) a card order paid (b) buying paper cups (c) bus fare to the market (d) buying lemons
4. 4.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) buying lemons (d) tutoring fees received
5. 5.Diya’s income was ₹270 and the profit was ₹10. One expense was ₹250 (ribbon). How much was the other expense, for transport (in ₹)?
6. 6.📅 When is the best time to update your records? (a) never (b) the same day (c) whenever you like (d) once a year
7. 7.Dev’s income was ₹100 and the profit was ₹30. One expense was ₹60 (ribbon). How much was the other expense, for stall fee (in ₹)?
8. 8.Diya’s income was ₹300 and the profit was ₹10. One expense was ₹60 (lemons). How much was the other expense, for card paper (in ₹)?
9. 9.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) cash from selling plants (d) paying the stall fee
10. 10.📒 Income or expense: payment for a cake order? (a) income (b) expense
11. 11.Which of these is income (money in)? (a) money from sales (b) bus fare to the market (c) paying the stall fee (d) buying lemons
12. 12.Ananya’s stall took in ₹350 on Friday, ₹80 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
13. 13.📒 Income or expense: a card order paid? (a) expense (b) income
14. 14.Ishaan’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹30 (stall fee)
    Expense: ₹90 (lemons)
    How much is the loss (in ₹)?
15. 15.Arjun’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹120 (stall fee)
    Expense: ₹60 (paper cups)
    What is the profit (in ₹)?
16. 16.📒 Income or expense: paying the stall fee? (a) income (b) expense
17. 17.True or false: “cash from selling plants” is income (money in). (a) True (b) False
18. 18.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to fill a notebook (d) to look busy
19. 19.Saanvi’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹30 (card paper)
    Expense: ₹140 (transport)
    What is the profit (in ₹)?
20. 20.Joseph’s income was ₹440 and the profit was ₹340. One expense was ₹20 (transport). How much was the other expense, for posters (in ₹)?
21. 21.True or false: “buying lemons” is an expense (money out). (a) True (b) False
22. 22.📒 Income or expense: printing posters? (a) expense (b) income
23. 23.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
24. 24.True or false: “money from sales” is an expense (money out). (a) True (b) False
25. 25.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) tutoring fees received (d) paying the stall fee
26. 26.Which of these is income (money in)? (a) buying lemons (b) payment for a cake order (c) printing posters (d) buying paper cups
27. 27.Kavya’s income was ₹410 and the profit was ₹190. One expense was ₹50 (card paper). How much was the other expense, for ribbon (in ₹)?
28. 28.Zoya’s record for the day:
    Income: ₹450 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹90 (paper cups)
    Expense: ₹90 (posters)
    What is the profit (in ₹)?
29. 29.Riya’s income was ₹400 and the profit was ₹40. One expense was ₹80 (ribbon). How much was the other expense, for posters (in ₹)?
30. 30.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) only the bag (d) a selfie
31. 31.Meera’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹80 (card paper)
    Expense: ₹10 (lemons)
    How much is the loss (in ₹)?
32. 32.Vihaan’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹100 (paper cups)
    Expense: ₹100 (posters)
    How much is the loss (in ₹)?
33. 33.Farhan’s record for the day:
    Income: ₹410 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹100 (stall fee)
    Expense: ₹90 (posters)
    What is the profit (in ₹)?
34. 34.Dev’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹20 (transport)
    Expense: ₹70 (ribbon)
    How much is the loss (in ₹)?
35. 35.Kavya’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹160 (paper cups)
    Expense: ₹180 (card paper)
    What is the profit (in ₹)?
36. 36.True or false: “printing posters” is income (money in). (a) True (b) False
37. 37.Which of these is an expense (money out)? (a) tutoring fees received (b) bus fare to the market (c) money from sales (d) payment for a cake order
38. 38.Joseph’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹50 (stall fee)
    Expense: ₹30 (transport)
    What is the profit (in ₹)?
39. 39.Rohan’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹70 (card paper)
    Expense: ₹250 (paper cups)
    How much is the loss (in ₹)?
40. 40.Ananya’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹180 (transport)
    Expense: ₹70 (sugar)
    What is the profit (in ₹)?

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