Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 297 · 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.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
2. 2.Gurpreet’s record for the day:
   Income: ₹20 (morning sales)
   Income: ₹80 (evening sales)
   Expense: ₹50 (lemons)
   Expense: ₹30 (transport)
   What is the profit (in ₹)?
3. 3.Nisha’s income was ₹470 and the profit was ₹390. One expense was ₹70 (ribbon). How much was the other expense, for lemons (in ₹)?
4. 4.➖ Profit in your records = (a) income − expenses (b) income + expenses (c) expenses − income (d) just the income
5. 5.Which of these is an expense (money out)? (a) a card order paid (b) printing posters (c) tutoring fees received (d) money from sales
6. 6.📒 Income or expense: cash from selling plants? (a) income (b) expense
7. 7.Rohan’s record for a rainy day:
   Income: ₹180 (sales)
   Expense: ₹80 (lemons)
   Expense: ₹190 (sugar)
   How much is the loss (in ₹)?
8. 8.Kabir’s record for the day:
   Income: ₹300 (morning sales)
   Income: ₹40 (evening sales)
   Expense: ₹130 (sugar)
   Expense: ₹170 (posters)
   What is the profit (in ₹)?
9. 9.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) only the bag (d) nothing
10. 10.Diya’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹30 (transport)
    Expense: ₹260 (posters)
    How much is the loss (in ₹)?
11. 11.Zoya’s income was ₹140 and the profit was ₹70. One expense was ₹60 (sugar). How much was the other expense, for paper cups (in ₹)?
12. 12.📒 Income or expense: printing posters? (a) expense (b) income
13. 13.True or false: “printing posters” is an expense (money out). (a) False (b) True
14. 14.Aarav’s income was ₹230 and the profit was ₹140. One expense was ₹20 (ribbon). How much was the other expense, for sugar (in ₹)?
15. 15.📒 Income or expense: a card order paid? (a) expense (b) income
16. 16.Kabir’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹120 (transport)
    Expense: ₹130 (posters)
    What is the profit (in ₹)?
17. 17.📒 Income or expense: bus fare to the market? (a) income (b) expense
18. 18.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
19. 19.📒 Income or expense: buying paper cups? (a) expense (b) income
20. 20.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) buying lemons (d) payment for a cake order
21. 21.Gurpreet’s income was ₹310 and the profit was ₹290. One expense was ₹10 (card paper). How much was the other expense, for posters (in ₹)?
22. 22.Kavya’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹120 (paper cups)
    Expense: ₹120 (lemons)
    How much is the loss (in ₹)?
23. 23.📒 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
24. 24.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
25. 25.📒 Income or expense: tutoring fees received? (a) income (b) expense
26. 26.Kabir’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹230 (ribbon)
    Expense: ₹20 (paper cups)
    How much is the loss (in ₹)?
27. 27.True or false: “paying the stall fee” is income (money in). (a) False (b) True
28. 28.Meera’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹220 (sugar)
    Expense: ₹10 (stall fee)
    How much is the loss (in ₹)?
29. 29.📒 Income or expense: payment for a cake order? (a) expense (b) income
30. 30.Which of these is an expense (money out)? (a) bus fare to the market (b) tutoring fees received (c) payment for a cake order (d) money from sales
31. 31.📒 Income or expense: buying lemons? (a) income (b) expense
32. 32.True or false: “tutoring fees received” is income (money in). (a) True (b) False
33. 33.Tara’s income was ₹340 and the profit was ₹80. One expense was ₹170 (paper cups). How much was the other expense, for ribbon (in ₹)?
34. 34.Which of these is income (money in)? (a) bus fare to the market (b) tutoring fees received (c) buying lemons (d) paying the stall fee
35. 35.Kabir’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹30 (transport)
    Expense: ₹130 (paper cups)
    What is the profit (in ₹)?
36. 36.📒 Income or expense: money from sales? (a) expense (b) income
37. 37.Saanvi’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹100 (transport)
    Expense: ₹30 (paper cups)
    What is the profit (in ₹)?
38. 38.Which of these is income (money in)? (a) money from sales (b) bus fare to the market (c) buying paper cups (d) buying lemons
39. 39.Meera’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹140 (stall fee)
    Expense: ₹160 (paper cups)
    How much is the loss (in ₹)?
40. 40.Arjun’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹90 (lemons)
    Expense: ₹50 (posters)
    What is the profit (in ₹)?

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