Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 223 · 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.Gurpreet’s record for a rainy day:
   Income: ₹290 (sales)
   Expense: ₹230 (card paper)
   Expense: ₹70 (posters)
   How much is the loss (in ₹)?
2. 2.📒 Income or expense: buying lemons? (a) income (b) expense
3. 3.📒 Income or expense: printing posters? (a) income (b) expense
4. 4.Which of these is an expense (money out)? (a) payment for a cake order (b) buying lemons (c) a card order paid (d) cash from selling plants
5. 5.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) cash from selling plants (d) paying the stall fee
6. 6.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
7. 7.📒 Income or expense: payment for a cake order? (a) income (b) expense
8. 8.Aarav’s record for the day:
   Income: ₹250 (morning sales)
   Income: ₹370 (evening sales)
   Expense: ₹170 (card paper)
   Expense: ₹200 (transport)
   What is the profit (in ₹)?
9. 9.Kavya’s income was ₹130 and the profit was ₹80. One expense was ₹10 (posters). How much was the other expense, for card paper (in ₹)?
10. 10.Arjun’s income was ₹340 and the profit was ₹280. One expense was ₹10 (stall fee). How much was the other expense, for posters (in ₹)?
11. 11.Ananya’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹330 (sugar)
    Expense: ₹30 (lemons)
    How much is the loss (in ₹)?
12. 12.📒 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
13. 13.Tara’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹40 (stall fee)
    Expense: ₹140 (lemons)
    How much is the loss (in ₹)?
14. 14.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) nothing (d) only the bag
15. 15.Zoya’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹40 (sugar)
    Expense: ₹60 (lemons)
    What is the profit (in ₹)?
16. 16.📒 Income or expense: a card order paid? (a) income (b) expense
17. 17.📅 When is the best time to update your records? (a) never (b) once a year (c) the same day (d) whenever you like
18. 18.📒 Income or expense: buying paper cups? (a) income (b) expense
19. 19.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) payment for a cake order (d) bus fare to the market
20. 20.Vihaan’s income was ₹490 and the profit was ₹250. One expense was ₹110 (lemons). How much was the other expense, for stall fee (in ₹)?
21. 21.Which of these is income (money in)? (a) paying the stall fee (b) cash from selling plants (c) bus fare to the market (d) printing posters
22. 22.Lakshmi’s stall took in ₹100 on Friday, ₹170 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
23. 23.True or false: “paying the stall fee” is income (money in). (a) False (b) True
24. 24.Farhan’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹40 (sugar)
    Expense: ₹190 (stall fee)
    What is the profit (in ₹)?
25. 25.Farhan’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹180 (ribbon)
    Expense: ₹70 (lemons)
    How much is the loss (in ₹)?
26. 26.Riya’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹50 (stall fee)
    Expense: ₹200 (lemons)
    What is the profit (in ₹)?
27. 27.Ananya’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹230 (lemons)
    Expense: ₹100 (transport)
    How much is the loss (in ₹)?
28. 28.Kavya’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹60 (transport)
    Expense: ₹170 (lemons)
    What is the profit (in ₹)?
29. 29.Saanvi’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹450 (evening sales)
    Expense: ₹200 (paper cups)
    Expense: ₹40 (sugar)
    What is the profit (in ₹)?
30. 30.True or false: “money from sales” is income (money in). (a) False (b) True
31. 31.True or false: “buying lemons” is an expense (money out). (a) False (b) True
32. 32.➖ Profit in your records = (a) just the income (b) income + expenses (c) income − expenses (d) expenses − income
33. 33.Which of these is income (money in)? (a) money from sales (b) buying paper cups (c) printing posters (d) bus fare to the market
34. 34.Zoya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹440 (evening sales)
    Expense: ₹130 (paper cups)
    Expense: ₹110 (posters)
    What is the profit (in ₹)?
35. 35.Which of these is income (money in)? (a) bus fare to the market (b) a card order paid (c) buying paper cups (d) buying lemons
36. 36.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) tutoring fees received (d) paying the stall fee
37. 37.Rohan’s income was ₹270 and the profit was ₹250. One expense was ₹10 (paper cups). How much was the other expense, for ribbon (in ₹)?
38. 38.Zoya’s stall took in ₹390 on Friday, ₹290 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
39. 39.Nisha’s record for the day:
    Income: ₹500 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹170 (sugar)
    Expense: ₹160 (card paper)
    What is the profit (in ₹)?
40. 40.Rohan’s income was ₹150 and the profit was ₹60. One expense was ₹70 (paper cups). How much was the other expense, for stall fee (in ₹)?

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