Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 261 · 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) a card order paid (b) tutoring fees received (c) money from sales (d) buying lemons
2. 2.Diya’s record for the day:
   Income: ₹270 (morning sales)
   Income: ₹100 (evening sales)
   Expense: ₹190 (stall fee)
   Expense: ₹60 (transport)
   What is the profit (in ₹)?
3. 3.Ishaan’s income was ₹150 and the profit was ₹120. One expense was ₹20 (card paper). How much was the other expense, for paper cups (in ₹)?
4. 4.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
5. 5.Arjun’s stall took in ₹120 on Friday, ₹250 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
6. 6.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) only the bag (d) nothing
7. 7.Kabir’s record for the day:
   Income: ₹30 (morning sales)
   Income: ₹290 (evening sales)
   Expense: ₹50 (stall fee)
   Expense: ₹180 (transport)
   What is the profit (in ₹)?
8. 8.Nisha’s record for a rainy day:
   Income: ₹120 (sales)
   Expense: ₹150 (paper cups)
   Expense: ₹50 (stall fee)
   How much is the loss (in ₹)?
9. 9.Diya’s stall took in ₹90 on Friday, ₹200 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
10. 10.Aarav’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹70 (card paper)
    Expense: ₹200 (ribbon)
    What is the profit (in ₹)?
11. 11.Rohan’s income was ₹210 and the profit was ₹140. One expense was ₹30 (paper cups). How much was the other expense, for ribbon (in ₹)?
12. 12.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) buying lemons (d) cash from selling plants
13. 13.Zoya’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹110 (paper cups)
    Expense: ₹200 (ribbon)
    What is the profit (in ₹)?
14. 14.Kabir’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹100 (paper cups)
    Expense: ₹80 (sugar)
    What is the profit (in ₹)?
15. 15.Lakshmi’s income was ₹260 and the profit was ₹50. One expense was ₹120 (paper cups). How much was the other expense, for ribbon (in ₹)?
16. 16.Rohan’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹210 (paper cups)
    Expense: ₹60 (transport)
    How much is the loss (in ₹)?
17. 17.📒 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
18. 18.Which of these is an expense (money out)? (a) money from sales (b) paying the stall fee (c) payment for a cake order (d) cash from selling plants
19. 19.Rohan’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹170 (lemons)
    Expense: ₹120 (paper cups)
    What is the profit (in ₹)?
20. 20.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
21. 21.Diya’s income was ₹160 and the profit was ₹50. One expense was ₹20 (lemons). How much was the other expense, for card paper (in ₹)?
22. 22.True or false: “money from sales” is income (money in). (a) False (b) True
23. 23.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
24. 24.Rohan’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹100 (stall fee)
    Expense: ₹20 (transport)
    How much is the loss (in ₹)?
25. 25.📒 Income or expense: buying paper cups? (a) expense (b) income
26. 26.True or false: “payment for a cake order” is income (money in). (a) False (b) True
27. 27.Ananya’s stall took in ₹90 on Friday, ₹250 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
28. 28.📅 When is the best time to update your records? (a) once a year (b) the same day (c) never (d) whenever you like
29. 29.Ishaan’s income was ₹390 and the profit was ₹150. One expense was ₹190 (stall fee). How much was the other expense, for posters (in ₹)?
30. 30.Which of these is income (money in)? (a) printing posters (b) tutoring fees received (c) paying the stall fee (d) buying lemons
31. 31.Ananya’s income was ₹150 and the profit was ₹130. One expense was ₹10 (ribbon). How much was the other expense, for posters (in ₹)?
32. 32.Ananya’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹30 (ribbon)
    Expense: ₹330 (card paper)
    How much is the loss (in ₹)?
33. 33.True or false: “cash from selling plants” is income (money in). (a) False (b) True
34. 34.Ananya’s stall took in ₹170 on Friday, ₹170 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
35. 35.Which of these is income (money in)? (a) buying lemons (b) a card order paid (c) bus fare to the market (d) paying the stall fee
36. 36.Ananya’s income was ₹420 and the profit was ₹160. One expense was ₹160 (posters). How much was the other expense, for transport (in ₹)?
37. 37.Aarav’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹90 (posters)
    Expense: ₹120 (lemons)
    How much is the loss (in ₹)?
38. 38.📒 Income or expense: cash from selling plants? (a) income (b) expense
39. 39.Kavya’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹80 (stall fee)
    Expense: ₹110 (ribbon)
    How much is the loss (in ₹)?
40. 40.Lakshmi’s stall took in ₹90 on Friday, ₹100 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?

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