Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 212 · 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) income − expenses (b) income + expenses (c) just the income (d) expenses − income
2. 2.Diya’s record for the day:
   Income: ₹90 (morning sales)
   Income: ₹340 (evening sales)
   Expense: ₹60 (posters)
   Expense: ₹120 (stall fee)
   What is the profit (in ₹)?
3. 3.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) to look busy (d) no reason
4. 4.📒 Income or expense: buying lemons? (a) income (b) expense
5. 5.Riya’s record for the day:
   Income: ₹120 (morning sales)
   Income: ₹470 (evening sales)
   Expense: ₹170 (transport)
   Expense: ₹160 (ribbon)
   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) bus fare to the market
7. 7.Joseph’s stall took in ₹320 on Friday, ₹250 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
8. 8.True or false: “printing posters” is an expense (money out). (a) True (b) False
9. 9.Which of these is income (money in)? (a) buying lemons (b) tutoring fees received (c) printing posters (d) paying the stall fee
10. 10.📒 Income or expense: cash from selling plants? (a) income (b) expense
11. 11.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
12. 12.📒 Income or expense: bus fare to the market? (a) expense (b) income
13. 13.Dev’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹100 (lemons)
    Expense: ₹150 (sugar)
    What is the profit (in ₹)?
14. 14.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) the bill or receipt (d) nothing
15. 15.Which of these is income (money in)? (a) buying paper cups (b) money from sales (c) bus fare to the market (d) paying the stall fee
16. 16.Arjun’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹230 (transport)
    Expense: ₹70 (stall fee)
    How much is the loss (in ₹)?
17. 17.Zoya’s income was ₹480 and the profit was ₹410. One expense was ₹50 (sugar). How much was the other expense, for posters (in ₹)?
18. 18.True or false: “buying lemons” is income (money in). (a) True (b) False
19. 19.📒 Income or expense: tutoring fees received? (a) income (b) expense
20. 20.📒 Income or expense: payment for a cake order? (a) expense (b) income
21. 21.📅 When is the best time to update your records? (a) never (b) the same day (c) whenever you like (d) once a year
22. 22.Saanvi’s income was ₹220 and the profit was ₹190. One expense was ₹20 (sugar). How much was the other expense, for stall fee (in ₹)?
23. 23.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) bus fare to the market (d) money from sales
24. 24.Farhan’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹20 (card paper)
    Expense: ₹40 (transport)
    What is the profit (in ₹)?
25. 25.Arjun’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹380 (evening sales)
    Expense: ₹110 (card paper)
    Expense: ₹150 (lemons)
    What is the profit (in ₹)?
26. 26.True or false: “tutoring fees received” is income (money in). (a) True (b) False
27. 27.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) tutoring fees received (d) buying paper cups
28. 28.Ananya’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹30 (sugar)
    Expense: ₹220 (posters)
    How much is the loss (in ₹)?
29. 29.📒 Income or expense: money from sales? (a) expense (b) income
30. 30.📒 Income or expense: printing posters? (a) expense (b) income
31. 31.Which of these is an expense (money out)? (a) paying the stall fee (b) money from sales (c) tutoring fees received (d) payment for a cake order
32. 32.Nisha’s income was ₹380 and the profit was ₹190. One expense was ₹80 (sugar). How much was the other expense, for card paper (in ₹)?
33. 33.Arjun’s stall took in ₹290 on Friday, ₹100 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
34. 34.Kavya’s record for the day:
    Income: ₹450 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹170 (ribbon)
    Expense: ₹70 (sugar)
    What is the profit (in ₹)?
35. 35.Nisha’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹150 (paper cups)
    Expense: ₹110 (card paper)
    How much is the loss (in ₹)?
36. 36.Kavya’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹20 (card paper)
    Expense: ₹190 (ribbon)
    What is the profit (in ₹)?
37. 37.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) tutoring fees received (d) printing posters
38. 38.Nisha’s stall took in ₹280 on Friday, ₹320 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
39. 39.Dev’s stall took in ₹200 on Friday, ₹350 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
40. 40.Which of these is income (money in)? (a) cash from selling plants (b) paying the stall fee (c) buying lemons (d) buying paper cups

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