Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 269 · 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) a card order paid (b) bus fare to the market (c) buying lemons (d) buying paper cups
2. 2.Lakshmi’s record for a rainy day:
   Income: ₹260 (sales)
   Expense: ₹80 (lemons)
   Expense: ₹250 (paper cups)
   How much is the loss (in ₹)?
3. 3.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
4. 4.Farhan’s record for the day:
   Income: ₹250 (morning sales)
   Income: ₹80 (evening sales)
   Expense: ₹110 (stall fee)
   Expense: ₹100 (paper cups)
   What is the profit (in ₹)?
5. 5.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) cash from selling plants (d) printing posters
6. 6.📒 Income or expense: paying the stall fee? (a) expense (b) income
7. 7.📒 Income or expense: cash from selling plants? (a) income (b) expense
8. 8.True or false: “buying paper cups” is income (money in). (a) True (b) False
9. 9.Which of these is an expense (money out)? (a) cash from selling plants (b) paying the stall fee (c) a card order paid (d) payment for a cake order
10. 10.Gurpreet’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹110 (card paper)
    Expense: ₹80 (paper cups)
    How much is the loss (in ₹)?
11. 11.Gurpreet’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹10 (paper cups)
    Expense: ₹70 (stall fee)
    How much is the loss (in ₹)?
12. 12.📒 Income or expense: bus fare to the market? (a) income (b) expense
13. 13.📒 Income or expense: printing posters? (a) income (b) expense
14. 14.➖ Profit in your records = (a) expenses − income (b) just the income (c) income − expenses (d) income + expenses
15. 15.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
16. 16.True or false: “buying lemons” is an expense (money out). (a) True (b) False
17. 17.Ananya’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹200 (lemons)
    Expense: ₹60 (posters)
    What is the profit (in ₹)?
18. 18.Ananya’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹10 (card paper)
    Expense: ₹80 (posters)
    How much is the loss (in ₹)?
19. 19.True or false: “paying the stall fee” is income (money in). (a) False (b) True
20. 20.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) tutoring fees received (d) buying paper cups
21. 21.Kavya’s stall took in ₹260 on Friday, ₹270 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
22. 22.True or false: “a card order paid” is an expense (money out). (a) False (b) True
23. 23.Meera’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹380 (evening sales)
    Expense: ₹100 (paper cups)
    Expense: ₹30 (sugar)
    What is the profit (in ₹)?
24. 24.Gurpreet’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹20 (transport)
    Expense: ₹20 (stall fee)
    What is the profit (in ₹)?
25. 25.Aarav’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹20 (sugar)
    Expense: ₹130 (transport)
    How much is the loss (in ₹)?
26. 26.Riya’s income was ₹210 and the profit was ₹20. One expense was ₹60 (transport). How much was the other expense, for paper cups (in ₹)?
27. 27.Dev’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹70 (sugar)
    Expense: ₹280 (card paper)
    How much is the loss (in ₹)?
28. 28.Joseph’s income was ₹440 and the profit was ₹100. One expense was ₹210 (stall fee). How much was the other expense, for posters (in ₹)?
29. 29.Tara’s income was ₹380 and the profit was ₹110. One expense was ₹40 (stall fee). How much was the other expense, for posters (in ₹)?
30. 30.Saanvi’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹140 (lemons)
    Expense: ₹40 (transport)
    How much is the loss (in ₹)?
31. 31.📒 Income or expense: buying lemons? (a) income (b) expense
32. 32.Nisha’s income was ₹420 and the profit was ₹330. One expense was ₹50 (card paper). How much was the other expense, for ribbon (in ₹)?
33. 33.Dev’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹220 (posters)
    Expense: ₹10 (ribbon)
    How much is the loss (in ₹)?
34. 34.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) never (d) once a year
35. 35.Ishaan’s income was ₹130 and the profit was ₹90. One expense was ₹30 (sugar). How much was the other expense, for posters (in ₹)?
36. 36.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) to look busy (d) no reason
37. 37.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
38. 38.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) the bill or receipt (d) a selfie
39. 39.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) tutoring fees received (d) bus fare to the market
40. 40.Meera’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹100 (paper cups)
    What is the profit (in ₹)?

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