Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 209 · 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 lemons” is income (money in). (a) True (b) False
2. 2.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) a card order paid (d) bus fare to the market
3. 3.Kabir’s record for the day:
   Income: ₹80 (morning sales)
   Income: ₹370 (evening sales)
   Expense: ₹200 (ribbon)
   Expense: ₹70 (stall fee)
   What is the profit (in ₹)?
4. 4.📒 Income or expense: paying the stall fee? (a) expense (b) income
5. 5.Which of these is an expense (money out)? (a) bus fare to the market (b) money from sales (c) a card order paid (d) cash from selling plants
6. 6.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
7. 7.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
8. 8.Zoya’s record for the day:
   Income: ₹330 (morning sales)
   Income: ₹260 (evening sales)
   Expense: ₹200 (ribbon)
   Expense: ₹140 (posters)
   What is the profit (in ₹)?
9. 9.Meera’s record for the day:
   Income: ₹60 (morning sales)
   Income: ₹240 (evening sales)
   Expense: ₹200 (posters)
   Expense: ₹90 (ribbon)
   What is the profit (in ₹)?
10. 10.Riya’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹150 (card paper)
    Expense: ₹140 (sugar)
    What is the profit (in ₹)?
11. 11.Nisha’s income was ₹310 and the profit was ₹280. One expense was ₹10 (stall fee). How much was the other expense, for ribbon (in ₹)?
12. 12.Nisha’s stall took in ₹260 on Friday, ₹230 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
13. 13.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) just the income (d) income − expenses
14. 14.True or false: “money from sales” is income (money in). (a) True (b) False
15. 15.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) buying lemons (d) money from sales
16. 16.Meera’s income was ₹460 and the profit was ₹30. One expense was ₹280 (posters). How much was the other expense, for transport (in ₹)?
17. 17.Aarav’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹170 (sugar)
    Expense: ₹150 (transport)
    What is the profit (in ₹)?
18. 18.Which of these is income (money in)? (a) payment for a cake order (b) printing posters (c) paying the stall fee (d) buying lemons
19. 19.Gurpreet’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹150 (posters)
    Expense: ₹100 (lemons)
    What is the profit (in ₹)?
20. 20.True or false: “paying the stall fee” is income (money in). (a) True (b) False
21. 21.True or false: “printing posters” is income (money in). (a) False (b) True
22. 22.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) a selfie (d) the bill or receipt
23. 23.True or false: “buying paper cups” is income (money in). (a) False (b) True
24. 24.Diya’s income was ₹120 and the profit was ₹60. One expense was ₹10 (sugar). How much was the other expense, for card paper (in ₹)?
25. 25.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to know the real profit (d) to look busy
26. 26.📒 Income or expense: bus fare to the market? (a) expense (b) income
27. 27.Farhan’s stall took in ₹370 on Friday, ₹230 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
28. 28.📒 Income or expense: money from sales? (a) expense (b) income
29. 29.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
30. 30.Aarav’s stall took in ₹60 on Friday, ₹240 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
31. 31.True or false: “buying lemons” is an expense (money out). (a) False (b) True
32. 32.Ishaan’s stall took in ₹50 on Friday, ₹200 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
33. 33.Joseph’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹60 (stall fee)
    Expense: ₹160 (paper cups)
    How much is the loss (in ₹)?
34. 34.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
35. 35.Joseph’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹250 (paper cups)
    Expense: ₹40 (transport)
    How much is the loss (in ₹)?
36. 36.Aarav’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹170 (ribbon)
    Expense: ₹80 (card paper)
    What is the profit (in ₹)?
37. 37.Kabir’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹450 (evening sales)
    Expense: ₹40 (transport)
    Expense: ₹170 (sugar)
    What is the profit (in ₹)?
38. 38.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) tutoring fees received (d) printing posters
39. 39.📒 Income or expense: buying paper cups? (a) income (b) expense
40. 40.True or false: “money from sales” is an expense (money out). (a) True (b) False

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