Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 231 · 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.Arjun’s income was ₹400 and the profit was ₹150. One expense was ₹40 (transport). How much was the other expense, for sugar (in ₹)?
2. 2.True or false: “printing posters” is an expense (money out). (a) False (b) True
3. 3.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
4. 4.📒 Income or expense: buying lemons? (a) expense (b) income
5. 5.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) the bill or receipt (d) a selfie
6. 6.Which of these is income (money in)? (a) cash from selling plants (b) buying paper cups (c) paying the stall fee (d) printing posters
7. 7.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) buying lemons (d) money from sales
8. 8.Arjun’s record for a rainy day:
   Income: ₹280 (sales)
   Expense: ₹270 (paper cups)
   Expense: ₹60 (stall fee)
   How much is the loss (in ₹)?
9. 9.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) income − expenses (d) just the income
10. 10.Rohan’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹10 (stall fee)
    Expense: ₹310 (lemons)
    How much is the loss (in ₹)?
11. 11.Which of these is an expense (money out)? (a) bus fare to the market (b) cash from selling plants (c) payment for a cake order (d) a card order paid
12. 12.📒 Income or expense: paying the stall fee? (a) expense (b) income
13. 13.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) cash from selling plants (d) buying lemons
14. 14.📒 Income or expense: tutoring fees received? (a) expense (b) income
15. 15.Lakshmi’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹160 (transport)
    Expense: ₹30 (card paper)
    What is the profit (in ₹)?
16. 16.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
17. 17.📒 Income or expense: money from sales? (a) expense (b) income
18. 18.📒 Income or expense: cash from selling plants? (a) income (b) expense
19. 19.Joseph’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹110 (card paper)
    Expense: ₹70 (sugar)
    How much is the loss (in ₹)?
20. 20.Rohan’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹270 (card paper)
    Expense: ₹30 (transport)
    How much is the loss (in ₹)?
21. 21.Meera’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹140 (transport)
    Expense: ₹130 (lemons)
    What is the profit (in ₹)?
22. 22.Farhan’s stall took in ₹80 on Friday, ₹350 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
23. 23.True or false: “cash from selling plants” is income (money in). (a) True (b) False
24. 24.Gurpreet’s income was ₹470 and the profit was ₹40. One expense was ₹120 (stall fee). How much was the other expense, for paper cups (in ₹)?
25. 25.Farhan’s income was ₹140 and the profit was ₹80. One expense was ₹30 (ribbon). How much was the other expense, for posters (in ₹)?
26. 26.Zoya’s record for the day:
    Income: ₹460 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹100 (card paper)
    Expense: ₹200 (posters)
    What is the profit (in ₹)?
27. 27.Dev’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹10 (ribbon)
    Expense: ₹150 (stall fee)
    How much is the loss (in ₹)?
28. 28.True or false: “a card order paid” is income (money in). (a) True (b) False
29. 29.Saanvi’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹150 (ribbon)
    Expense: ₹110 (posters)
    What is the profit (in ₹)?
30. 30.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to know the real profit (d) to fill a notebook
31. 31.📅 When is the best time to update your records? (a) never (b) once a year (c) the same day (d) whenever you like
32. 32.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) paying the stall fee (d) a card order paid
33. 33.📒 Income or expense: payment for a cake order? (a) expense (b) income
34. 34.Arjun’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹180 (paper cups)
    Expense: ₹60 (transport)
    How much is the loss (in ₹)?
35. 35.Gurpreet’s income was ₹370 and the profit was ₹110. One expense was ₹130 (paper cups). How much was the other expense, for lemons (in ₹)?
36. 36.Farhan’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹40 (paper cups)
    Expense: ₹180 (stall fee)
    How much is the loss (in ₹)?
37. 37.True or false: “buying paper cups” is income (money in). (a) True (b) False
38. 38.Aarav’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹140 (posters)
    Expense: ₹100 (transport)
    How much is the loss (in ₹)?
39. 39.📒 Income or expense: bus fare to the market? (a) income (b) expense
40. 40.True or false: “buying lemons” is an expense (money out). (a) True (b) False

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