Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 211 · 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 an expense (money out)? (a) money from sales (b) paying the stall fee (c) a card order paid (d) tutoring fees received
2. 2.Zoya’s stall took in ₹70 on Friday, ₹60 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
3. 3.📒 Income or expense: cash from selling plants? (a) expense (b) income
4. 4.Vihaan’s record for a rainy day:
   Income: ₹160 (sales)
   Expense: ₹160 (card paper)
   Expense: ₹20 (stall fee)
   How much is the loss (in ₹)?
5. 5.Rohan’s record for the day:
   Income: ₹140 (morning sales)
   Income: ₹530 (evening sales)
   Expense: ₹200 (stall fee)
   Expense: ₹170 (paper cups)
   What is the profit (in ₹)?
6. 6.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) payment for a cake order (d) buying lemons
7. 7.📒 Income or expense: printing posters? (a) income (b) expense
8. 8.Which of these is income (money in)? (a) buying lemons (b) cash from selling plants (c) buying paper cups (d) paying the stall fee
9. 9.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) buying paper cups (d) a card order paid
10. 10.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) the same day (d) never
11. 11.Aarav’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹200 (paper cups)
    Expense: ₹80 (lemons)
    What is the profit (in ₹)?
12. 12.📒 Income or expense: buying paper cups? (a) expense (b) income
13. 13.Ishaan’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹30 (sugar)
    Expense: ₹90 (posters)
    What is the profit (in ₹)?
14. 14.Riya’s record for the day:
    Income: ₹370 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹100 (paper cups)
    Expense: ₹190 (stall fee)
    What is the profit (in ₹)?
15. 15.Ishaan’s stall took in ₹330 on Friday, ₹80 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
16. 16.📒 Income or expense: tutoring fees received? (a) expense (b) income
17. 17.Vihaan’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹220 (transport)
    Expense: ₹150 (posters)
    How much is the loss (in ₹)?
18. 18.True or false: “buying lemons” is income (money in). (a) True (b) False
19. 19.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) income + expenses (d) just the income
20. 20.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
21. 21.Arjun’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹100 (paper cups)
    Expense: ₹270 (ribbon)
    How much is the loss (in ₹)?
22. 22.Tara’s income was ₹210 and the profit was ₹30. One expense was ₹10 (card paper). How much was the other expense, for paper cups (in ₹)?
23. 23.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) the bill or receipt (d) nothing
24. 24.True or false: “a card order paid” is an expense (money out). (a) False (b) True
25. 25.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
26. 26.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) bus fare to the market (d) money from sales
27. 27.Saanvi’s stall took in ₹100 on Friday, ₹100 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
28. 28.Kabir’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹400 (evening sales)
    Expense: ₹130 (lemons)
    Expense: ₹60 (ribbon)
    What is the profit (in ₹)?
29. 29.Lakshmi’s income was ₹250 and the profit was ₹230. One expense was ₹10 (lemons). How much was the other expense, for stall fee (in ₹)?
30. 30.Tara’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹60 (paper cups)
    Expense: ₹120 (posters)
    How much is the loss (in ₹)?
31. 31.📒 Income or expense: paying the stall fee? (a) expense (b) income
32. 32.📒 Income or expense: bus fare to the market? (a) expense (b) income
33. 33.📒 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
34. 34.True or false: “paying the stall fee” is income (money in). (a) False (b) True
35. 35.Gurpreet’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹30 (lemons)
    Expense: ₹60 (posters)
    What is the profit (in ₹)?
36. 36.Dev’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹10 (sugar)
    Expense: ₹90 (card paper)
    How much is the loss (in ₹)?
37. 37.Kabir’s stall took in ₹310 on Friday, ₹180 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
38. 38.Vihaan’s income was ₹400 and the profit was ₹350. One expense was ₹10 (posters). How much was the other expense, for paper cups (in ₹)?
39. 39.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) bus fare to the market (d) a card order paid
40. 40.Dev’s income was ₹290 and the profit was ₹30. One expense was ₹60 (card paper). How much was the other expense, for paper cups (in ₹)?

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