Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 267 · 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) payment for a cake order (b) paying the stall fee (c) printing posters (d) buying lemons
2. 2.Riya’s record for a rainy day:
   Income: ₹260 (sales)
   Expense: ₹210 (stall fee)
   Expense: ₹90 (lemons)
   How much is the loss (in ₹)?
3. 3.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) a selfie (d) the bill or receipt
4. 4.Meera’s record for the day:
   Income: ₹250 (morning sales)
   Income: ₹100 (evening sales)
   Expense: ₹200 (paper cups)
   Expense: ₹120 (card paper)
   What is the profit (in ₹)?
5. 5.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) bus fare to the market (d) a card order paid
6. 6.Zoya’s income was ₹200 and the profit was ₹160. One expense was ₹10 (stall fee). How much was the other expense, for posters (in ₹)?
7. 7.📒 Income or expense: cash from selling plants? (a) income (b) expense
8. 8.📒 Income or expense: money from sales? (a) expense (b) income
9. 9.Lakshmi’s stall took in ₹160 on Friday, ₹130 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
10. 10.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) once a year (d) never
11. 11.📒 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
12. 12.Kabir’s income was ₹140 and the profit was ₹120. One expense was ₹10 (stall fee). How much was the other expense, for card paper (in ₹)?
13. 13.True or false: “bus fare to the market” is income (money in). (a) False (b) True
14. 14.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) buying lemons (d) tutoring fees received
15. 15.Aarav’s income was ₹400 and the profit was ₹380. One expense was ₹10 (paper cups). How much was the other expense, for posters (in ₹)?
16. 16.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) tutoring fees received (d) paying the stall fee
17. 17.Zoya’s stall took in ₹80 on Friday, ₹220 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
18. 18.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
19. 19.📒 Income or expense: payment for a cake order? (a) income (b) expense
20. 20.True or false: “buying lemons” is income (money in). (a) True (b) False
21. 21.Meera’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹140 (sugar)
    Expense: ₹50 (stall fee)
    How much is the loss (in ₹)?
22. 22.➖ Profit in your records = (a) just the income (b) income − expenses (c) expenses − income (d) income + expenses
23. 23.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) printing posters (d) a card order paid
24. 24.Ananya’s income was ₹380 and the profit was ₹20. One expense was ₹310 (lemons). How much was the other expense, for ribbon (in ₹)?
25. 25.Joseph’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹120 (paper cups)
    Expense: ₹80 (ribbon)
    What is the profit (in ₹)?
26. 26.Diya’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹130 (paper cups)
    Expense: ₹60 (posters)
    How much is the loss (in ₹)?
27. 27.True or false: “printing posters” is income (money in). (a) True (b) False
28. 28.📒 Income or expense: buying paper cups? (a) income (b) expense
29. 29.Arjun’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹60 (stall fee)
    Expense: ₹200 (sugar)
    What is the profit (in ₹)?
30. 30.📒 Income or expense: tutoring fees received? (a) expense (b) income
31. 31.Rohan’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹70 (sugar)
    Expense: ₹180 (lemons)
    What is the profit (in ₹)?
32. 32.Diya’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹120 (ribbon)
    Expense: ₹170 (transport)
    How much is the loss (in ₹)?
33. 33.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) paying the stall fee (d) money from sales
34. 34.Meera’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹190 (transport)
    Expense: ₹160 (lemons)
    What is the profit (in ₹)?
35. 35.Kavya’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹140 (transport)
    Expense: ₹80 (ribbon)
    What is the profit (in ₹)?
36. 36.Kabir’s income was ₹430 and the profit was ₹40. One expense was ₹100 (card paper). How much was the other expense, for ribbon (in ₹)?
37. 37.True or false: “cash from selling plants” is income (money in). (a) False (b) True
38. 38.Zoya’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹140 (stall fee)
    Expense: ₹20 (lemons)
    What is the profit (in ₹)?
39. 39.Kabir’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹70 (stall fee)
    Expense: ₹190 (transport)
    How much is the loss (in ₹)?
40. 40.Lakshmi’s stall took in ₹170 on Friday, ₹60 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?

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