Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 255 · 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 income (money in)? (a) bus fare to the market (b) payment for a cake order (c) printing posters (d) buying lemons
2. 2.Which of these is income (money in)? (a) buying lemons (b) tutoring fees received (c) paying the stall fee (d) printing posters
3. 3.Gurpreet’s record for the day:
   Income: ₹220 (morning sales)
   Income: ₹100 (evening sales)
   Expense: ₹180 (stall fee)
   Expense: ₹130 (posters)
   What is the profit (in ₹)?
4. 4.Kabir’s income was ₹320 and the profit was ₹130. One expense was ₹60 (ribbon). How much was the other expense, for lemons (in ₹)?
5. 5.📒 Income or expense: cash from selling plants? (a) income (b) expense
6. 6.Kabir’s stall took in ₹260 on Friday, ₹390 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
7. 7.True or false: “printing posters” is income (money in). (a) False (b) True
8. 8.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) never (d) once a year
9. 9.Gurpreet’s stall took in ₹200 on Friday, ₹120 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
10. 10.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) buying lemons (d) cash from selling plants
11. 11.Aarav’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹60 (ribbon)
    Expense: ₹40 (transport)
    How much is the loss (in ₹)?
12. 12.Lakshmi’s income was ₹450 and the profit was ₹30. One expense was ₹200 (sugar). How much was the other expense, for ribbon (in ₹)?
13. 13.Riya’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹70 (posters)
    Expense: ₹200 (lemons)
    What is the profit (in ₹)?
14. 14.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
15. 15.📒 Income or expense: bus fare to the market? (a) income (b) expense
16. 16.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) only the bag (d) nothing
17. 17.Which of these is income (money in)? (a) buying paper cups (b) a card order paid (c) bus fare to the market (d) buying lemons
18. 18.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) printing posters (d) money from sales
19. 19.Riya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹50 (ribbon)
    Expense: ₹40 (lemons)
    What is the profit (in ₹)?
20. 20.Which of these is an expense (money out)? (a) tutoring fees received (b) paying the stall fee (c) cash from selling plants (d) money from sales
21. 21.Rohan’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹140 (sugar)
    Expense: ₹60 (stall fee)
    What is the profit (in ₹)?
22. 22.Kavya’s stall took in ₹70 on Friday, ₹210 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
23. 23.Kabir’s income was ₹310 and the profit was ₹30. One expense was ₹180 (ribbon). How much was the other expense, for paper cups (in ₹)?
24. 24.Ishaan’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹80 (card paper)
    Expense: ₹30 (sugar)
    What is the profit (in ₹)?
25. 25.Farhan’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹160 (stall fee)
    Expense: ₹190 (lemons)
    What is the profit (in ₹)?
26. 26.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to know the real profit (d) to look busy
27. 27.Zoya’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹20 (card paper)
    Expense: ₹110 (stall fee)
    How much is the loss (in ₹)?
28. 28.📒 Income or expense: money from sales? (a) expense (b) income
29. 29.Ishaan’s stall took in ₹70 on Friday, ₹330 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
30. 30.True or false: “printing posters” is an expense (money out). (a) False (b) True
31. 31.Kabir’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹10 (sugar)
    Expense: ₹220 (lemons)
    How much is the loss (in ₹)?
32. 32.Ananya’s income was ₹190 and the profit was ₹170. One expense was ₹10 (sugar). How much was the other expense, for stall fee (in ₹)?
33. 33.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
34. 34.Riya’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹80 (stall fee)
    Expense: ₹60 (transport)
    How much is the loss (in ₹)?
35. 35.📒 Income or expense: a card order paid? (a) expense (b) income
36. 36.Vihaan’s income was ₹290 and the profit was ₹240. One expense was ₹10 (posters). How much was the other expense, for lemons (in ₹)?
37. 37.📒 Income or expense: buying lemons? (a) expense (b) income
38. 38.Rohan’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹10 (ribbon)
    Expense: ₹80 (paper cups)
    How much is the loss (in ₹)?
39. 39.📒 Income or expense: tutoring fees received? (a) expense (b) income
40. 40.Lakshmi’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹50 (paper cups)
    Expense: ₹110 (posters)
    What is the profit (in ₹)?

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