Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 257 · 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) a card order paid (c) payment for a cake order (d) buying lemons
2. 2.📒 Income or expense: paying the stall fee? (a) income (b) expense
3. 3.Nisha’s record for a rainy day:
   Income: ₹50 (sales)
   Expense: ₹100 (posters)
   Expense: ₹50 (sugar)
   How much is the loss (in ₹)?
4. 4.Kabir’s stall took in ₹130 on Friday, ₹60 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
5. 5.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) nothing (d) only the bag
6. 6.Dev’s stall took in ₹210 on Friday, ₹350 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
7. 7.📒 Income or expense: buying lemons? (a) income (b) expense
8. 8.Lakshmi’s stall took in ₹240 on Friday, ₹320 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
9. 9.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
10. 10.Ananya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹20 (ribbon)
    Expense: ₹110 (card paper)
    What is the profit (in ₹)?
11. 11.Kabir’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹30 (transport)
    Expense: ₹20 (card paper)
    What is the profit (in ₹)?
12. 12.Which of these is an expense (money out)? (a) a card order paid (b) paying the stall fee (c) money from sales (d) payment for a cake order
13. 13.📒 Income or expense: cash from selling plants? (a) expense (b) income
14. 14.Zoya’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹220 (posters)
    Expense: ₹40 (card paper)
    How much is the loss (in ₹)?
15. 15.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) just the income (d) income + expenses
16. 16.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) printing posters (d) payment for a cake order
17. 17.Farhan’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹150 (card paper)
    Expense: ₹30 (lemons)
    What is the profit (in ₹)?
18. 18.Gurpreet’s stall took in ₹300 on Friday, ₹70 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
19. 19.Aarav’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹30 (paper cups)
    Expense: ₹100 (lemons)
    How much is the loss (in ₹)?
20. 20.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
21. 21.📒 Income or expense: payment for a cake order? (a) expense (b) income
22. 22.Zoya’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹170 (lemons)
    Expense: ₹120 (stall fee)
    How much is the loss (in ₹)?
23. 23.True or false: “paying the stall fee” is income (money in). (a) False (b) True
24. 24.Lakshmi’s record for the day:
    Income: ₹450 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹90 (paper cups)
    Expense: ₹130 (card paper)
    What is the profit (in ₹)?
25. 25.True or false: “money from sales” is income (money in). (a) True (b) False
26. 26.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) no reason (d) to know the real profit
27. 27.Diya’s income was ₹450 and the profit was ₹320. One expense was ₹70 (paper cups). How much was the other expense, for stall fee (in ₹)?
28. 28.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
29. 29.📒 Income or expense: tutoring fees received? (a) income (b) expense
30. 30.Which of these is an expense (money out)? (a) bus fare to the market (b) tutoring fees received (c) money from sales (d) cash from selling plants
31. 31.Kabir’s income was ₹470 and the profit was ₹230. One expense was ₹200 (sugar). How much was the other expense, for paper cups (in ₹)?
32. 32.Ananya’s income was ₹200 and the profit was ₹30. One expense was ₹160 (sugar). How much was the other expense, for paper cups (in ₹)?
33. 33.📒 Income or expense: a card order paid? (a) income (b) expense
34. 34.📒 Income or expense: printing posters? (a) income (b) expense
35. 35.True or false: “printing posters” is income (money in). (a) True (b) False
36. 36.Ananya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹120 (sugar)
    Expense: ₹150 (stall fee)
    What is the profit (in ₹)?
37. 37.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) payment for a cake order (d) printing posters
38. 38.True or false: “buying paper cups” is income (money in). (a) False (b) True
39. 39.Tara’s stall took in ₹280 on Friday, ₹90 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
40. 40.Ananya’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹320 (sugar)
    How much is the loss (in ₹)?

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