Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 36 · 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.📒 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
3. 3.Aarav’s stall took in ₹120 on Friday, ₹320 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
4. 4.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
5. 5.📒 Income or expense: a card order paid? (a) expense (b) income
6. 6.📒 Income or expense: buying lemons? (a) expense (b) income
7. 7.Farhan’s record for the day:
   Income: ₹60 (morning sales)
   Income: ₹250 (evening sales)
   Expense: ₹80 (paper cups)
   Expense: ₹130 (sugar)
   What is the profit (in ₹)?
8. 8.📒 Income or expense: money from sales? (a) expense (b) income
9. 9.Which of these is an expense (money out)? (a) bus fare to the market (b) payment for a cake order (c) a card order paid (d) tutoring fees received
10. 10.Which of these is income (money in)? (a) printing posters (b) tutoring fees received (c) paying the stall fee (d) buying paper cups
11. 11.📒 Income or expense: bus fare to the market? (a) expense (b) income
12. 12.Arjun’s stall took in ₹200 on Friday, ₹370 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
13. 13.Joseph’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹190 (sugar)
    Expense: ₹30 (paper cups)
    What is the profit (in ₹)?
14. 14.📒 Income or expense: tutoring fees received? (a) income (b) expense
15. 15.Arjun’s income was ₹250 and the profit was ₹50. One expense was ₹20 (sugar). How much was the other expense, for ribbon (in ₹)?
16. 16.📅 When is the best time to update your records? (a) whenever you like (b) never (c) once a year (d) the same day
17. 17.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) printing posters (d) money from sales
18. 18.True or false: “buying lemons” is income (money in). (a) True (b) False
19. 19.📒 Income or expense: printing posters? (a) expense (b) income
20. 20.Lakshmi’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹240 (transport)
    Expense: ₹10 (posters)
    How much is the loss (in ₹)?
21. 21.Gurpreet’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹140 (paper cups)
    Expense: ₹20 (sugar)
    How much is the loss (in ₹)?
22. 22.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) a selfie (d) only the bag
23. 23.Arjun’s record for the day:
    Income: ₹390 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹190 (transport)
    Expense: ₹140 (card paper)
    What is the profit (in ₹)?
24. 24.📒 Income or expense: paying the stall fee? (a) expense (b) income
25. 25.Kavya’s income was ₹190 and the profit was ₹50. One expense was ₹120 (stall fee). How much was the other expense, for lemons (in ₹)?
26. 26.True or false: “a card order paid” is income (money in). (a) False (b) True
27. 27.📒 Income or expense: buying paper cups? (a) expense (b) income
28. 28.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) buying paper cups (d) money from sales
29. 29.Saanvi’s income was ₹120 and the profit was ₹60. One expense was ₹20 (card paper). How much was the other expense, for lemons (in ₹)?
30. 30.Rohan’s record for the day:
    Income: ₹390 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹180 (posters)
    Expense: ₹150 (transport)
    What is the profit (in ₹)?
31. 31.Saanvi’s income was ₹250 and the profit was ₹40. One expense was ₹40 (lemons). How much was the other expense, for stall fee (in ₹)?
32. 32.📒 Income or expense: cash from selling plants? (a) income (b) expense
33. 33.Nisha’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹140 (posters)
    Expense: ₹30 (paper cups)
    How much is the loss (in ₹)?
34. 34.Which of these is income (money in)? (a) printing posters (b) payment for a cake order (c) paying the stall fee (d) buying lemons
35. 35.Nisha’s stall took in ₹160 on Friday, ₹350 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
36. 36.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) a card order paid (d) bus fare to the market
37. 37.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) buying paper cups (d) cash from selling plants
38. 38.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
39. 39.Aarav’s income was ₹220 and the profit was ₹190. One expense was ₹10 (sugar). How much was the other expense, for posters (in ₹)?
40. 40.Arjun’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹120 (transport)
    Expense: ₹40 (stall fee)
    What is the profit (in ₹)?

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