Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 296 · 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.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) income + expenses (d) just the income
2. 2.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) only the bag (d) nothing
3. 3.True or false: “a card order paid” is an expense (money out). (a) True (b) False
4. 4.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
5. 5.Rohan’s record for a rainy day:
   Income: ₹260 (sales)
   Expense: ₹180 (paper cups)
   Expense: ₹100 (posters)
   How much is the loss (in ₹)?
6. 6.📒 Income or expense: tutoring fees received? (a) expense (b) income
7. 7.True or false: “tutoring fees received” is income (money in). (a) False (b) True
8. 8.Nisha’s income was ₹120 and the profit was ₹30. One expense was ₹80 (posters). How much was the other expense, for ribbon (in ₹)?
9. 9.Gurpreet’s record for the day:
   Income: ₹190 (morning sales)
   Income: ₹110 (evening sales)
   Expense: ₹60 (stall fee)
   Expense: ₹190 (lemons)
   What is the profit (in ₹)?
10. 10.📒 Income or expense: bus fare to the market? (a) expense (b) income
11. 11.Kabir’s stall took in ₹170 on Friday, ₹170 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
12. 12.Which of these is an expense (money out)? (a) money from sales (b) buying lemons (c) tutoring fees received (d) a card order paid
13. 13.Farhan’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹70 (transport)
    Expense: ₹100 (stall fee)
    How much is the loss (in ₹)?
14. 14.📒 Income or expense: buying lemons? (a) income (b) expense
15. 15.Which of these is income (money in)? (a) tutoring fees received (b) buying paper cups (c) printing posters (d) bus fare to the market
16. 16.Ishaan’s stall took in ₹50 on Friday, ₹270 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
17. 17.Aarav’s income was ₹290 and the profit was ₹250. One expense was ₹10 (posters). How much was the other expense, for ribbon (in ₹)?
18. 18.Vihaan’s income was ₹310 and the profit was ₹30. One expense was ₹210 (stall fee). How much was the other expense, for paper cups (in ₹)?
19. 19.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) no reason (d) to look busy
20. 20.Which of these is an expense (money out)? (a) paying the stall fee (b) payment for a cake order (c) cash from selling plants (d) money from sales
21. 21.Kabir’s stall took in ₹90 on Friday, ₹310 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
22. 22.📒 Income or expense: printing posters? (a) expense (b) income
23. 23.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) money from sales (d) bus fare to the market
24. 24.Zoya’s income was ₹130 and the profit was ₹40. One expense was ₹60 (ribbon). How much was the other expense, for sugar (in ₹)?
25. 25.Which of these is an expense (money out)? (a) printing posters (b) cash from selling plants (c) a card order paid (d) money from sales
26. 26.Arjun’s income was ₹170 and the profit was ₹40. One expense was ₹30 (ribbon). How much was the other expense, for transport (in ₹)?
27. 27.📒 Income or expense: buying paper cups? (a) income (b) expense
28. 28.Gurpreet’s stall took in ₹70 on Friday, ₹150 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
29. 29.Dev’s income was ₹450 and the profit was ₹240. One expense was ₹80 (ribbon). How much was the other expense, for posters (in ₹)?
30. 30.Rohan’s income was ₹170 and the profit was ₹30. One expense was ₹130 (stall fee). How much was the other expense, for paper cups (in ₹)?
31. 31.📒 Income or expense: money from sales? (a) expense (b) income
32. 32.Meera’s income was ₹390 and the profit was ₹370. One expense was ₹10 (transport). How much was the other expense, for ribbon (in ₹)?
33. 33.Diya’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹220 (lemons)
    Expense: ₹80 (stall fee)
    How much is the loss (in ₹)?
34. 34.True or false: “printing posters” is an expense (money out). (a) False (b) True
35. 35.Nisha’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹160 (sugar)
    Expense: ₹130 (card paper)
    How much is the loss (in ₹)?
36. 36.True or false: “bus fare to the market” is income (money in). (a) True (b) False
37. 37.Lakshmi’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹150 (card paper)
    Expense: ₹180 (paper cups)
    How much is the loss (in ₹)?
38. 38.Vihaan’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹450 (evening sales)
    Expense: ₹120 (paper cups)
    Expense: ₹160 (ribbon)
    What is the profit (in ₹)?
39. 39.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
40. 40.Kabir’s income was ₹240 and the profit was ₹10. One expense was ₹150 (posters). How much was the other expense, for sugar (in ₹)?

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