Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 376 · 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) income − expenses (b) just the income (c) expenses − income (d) income + expenses
2. 2.📅 When is the best time to update your records? (a) never (b) whenever you like (c) the same day (d) once a year
3. 3.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) only the bag (d) a selfie
4. 4.Ishaan’s income was ₹120 and the profit was ₹10. One expense was ₹50 (sugar). How much was the other expense, for transport (in ₹)?
5. 5.Ananya’s income was ₹100 and the profit was ₹20. One expense was ₹50 (ribbon). How much was the other expense, for lemons (in ₹)?
6. 6.Kabir’s income was ₹390 and the profit was ₹240. One expense was ₹120 (ribbon). How much was the other expense, for stall fee (in ₹)?
7. 7.True or false: “money from sales” is an expense (money out). (a) True (b) False
8. 8.Kabir’s record for the day:
   Income: ₹90 (morning sales)
   Income: ₹50 (evening sales)
   Expense: ₹70 (posters)
   Expense: ₹30 (card paper)
   What is the profit (in ₹)?
9. 9.Riya’s record for a rainy day:
   Income: ₹220 (sales)
   Expense: ₹200 (paper cups)
   Expense: ₹80 (ribbon)
   How much is the loss (in ₹)?
10. 10.True or false: “bus fare to the market” is income (money in). (a) False (b) True
11. 11.📒 Income or expense: tutoring fees received? (a) income (b) expense
12. 12.Dev’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹70 (posters)
    Expense: ₹250 (card paper)
    How much is the loss (in ₹)?
13. 13.Ishaan’s income was ₹180 and the profit was ₹130. One expense was ₹20 (stall fee). How much was the other expense, for sugar (in ₹)?
14. 14.Dev’s stall took in ₹90 on Friday, ₹340 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
15. 15.Dev’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹90 (lemons)
    Expense: ₹120 (transport)
    How much is the loss (in ₹)?
16. 16.Rohan’s stall took in ₹130 on Friday, ₹90 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
17. 17.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) money from sales (d) buying lemons
18. 18.True or false: “cash from selling plants” is income (money in). (a) False (b) True
19. 19.Which of these is income (money in)? (a) money from sales (b) paying the stall fee (c) printing posters (d) buying paper cups
20. 20.Kavya’s stall took in ₹130 on Friday, ₹240 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
21. 21.Riya’s stall took in ₹130 on Friday, ₹80 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
22. 22.Vihaan’s income was ₹330 and the profit was ₹220. One expense was ₹40 (ribbon). How much was the other expense, for posters (in ₹)?
23. 23.True or false: “printing posters” is income (money in). (a) True (b) False
24. 24.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) payment for a cake order (d) bus fare to the market
25. 25.Saanvi’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹10 (transport)
    Expense: ₹100 (paper cups)
    How much is the loss (in ₹)?
26. 26.Kabir’s record for the day:
    Income: ₹500 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹80 (card paper)
    Expense: ₹170 (paper cups)
    What is the profit (in ₹)?
27. 27.True or false: “a card order paid” is income (money in). (a) False (b) True
28. 28.Dev’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹110 (card paper)
    How much is the loss (in ₹)?
29. 29.True or false: “a card order paid” is an expense (money out). (a) True (b) False
30. 30.True or false: “paying the stall fee” is income (money in). (a) False (b) True
31. 31.Riya’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹160 (paper cups)
    Expense: ₹110 (card paper)
    How much is the loss (in ₹)?
32. 32.True or false: “buying lemons” is income (money in). (a) False (b) True
33. 33.📒 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
34. 34.Nisha’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹140 (sugar)
    Expense: ₹200 (lemons)
    How much is the loss (in ₹)?
35. 35.Ishaan’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹220 (lemons)
    Expense: ₹160 (transport)
    How much is the loss (in ₹)?
36. 36.📒 Income or expense: paying the stall fee? (a) income (b) expense
37. 37.Nisha’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹30 (paper cups)
    Expense: ₹240 (sugar)
    How much is the loss (in ₹)?
38. 38.📒 Income or expense: a card order paid? (a) expense (b) income
39. 39.📒 Income or expense: payment for a cake order? (a) expense (b) income
40. 40.Kabir’s income was ₹250 and the profit was ₹120. One expense was ₹20 (sugar). How much was the other expense, for paper cups (in ₹)?

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