Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 381 · 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.Joseph’s income was ₹260 and the profit was ₹150. One expense was ₹30 (posters). How much was the other expense, for paper cups (in ₹)?
2. 2.Kabir’s record for a rainy day:
   Income: ₹280 (sales)
   Expense: ₹150 (lemons)
   Expense: ₹140 (paper cups)
   How much is the loss (in ₹)?
3. 3.Ishaan’s stall took in ₹120 on Friday, ₹380 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
4. 4.📒 Income or expense: payment for a cake order? (a) income (b) expense
5. 5.Riya’s record for the day:
   Income: ₹50 (morning sales)
   Income: ₹90 (evening sales)
   Expense: ₹60 (sugar)
   Expense: ₹20 (transport)
   What is the profit (in ₹)?
6. 6.True or false: “payment for a cake order” is income (money in). (a) False (b) True
7. 7.📒 Income or expense: paying the stall fee? (a) expense (b) income
8. 8.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) buying lemons (d) payment for a cake order
9. 9.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
10. 10.True or false: “buying paper cups” is income (money in). (a) True (b) False
11. 11.Arjun’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹60 (paper cups)
    Expense: ₹100 (lemons)
    How much is the loss (in ₹)?
12. 12.Which of these is income (money in)? (a) payment for a cake order (b) buying paper cups (c) bus fare to the market (d) buying lemons
13. 13.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) to know the real profit (d) no reason
14. 14.True or false: “money from sales” is an expense (money out). (a) False (b) True
15. 15.Which of these is an expense (money out)? (a) bus fare to the market (b) money from sales (c) payment for a cake order (d) tutoring fees received
16. 16.📒 Income or expense: printing posters? (a) expense (b) income
17. 17.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) only the bag (d) nothing
18. 18.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) paying the stall fee (d) cash from selling plants
19. 19.Meera’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹160 (sugar)
    Expense: ₹200 (posters)
    What is the profit (in ₹)?
20. 20.True or false: “printing posters” is an expense (money out). (a) False (b) True
21. 21.Ananya’s stall took in ₹110 on Friday, ₹180 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
22. 22.➖ Profit in your records = (a) just the income (b) income + expenses (c) expenses − income (d) income − expenses
23. 23.📒 Income or expense: money from sales? (a) expense (b) income
24. 24.📒 Income or expense: a card order paid? (a) expense (b) income
25. 25.True or false: “bus fare to the market” is income (money in). (a) False (b) True
26. 26.True or false: “buying lemons” is income (money in). (a) False (b) True
27. 27.Nisha’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹170 (ribbon)
    Expense: ₹200 (card paper)
    What is the profit (in ₹)?
28. 28.Which of these is income (money in)? (a) a card order paid (b) buying paper cups (c) bus fare to the market (d) paying the stall fee
29. 29.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
30. 30.Arjun’s income was ₹130 and the profit was ₹90. One expense was ₹20 (ribbon). How much was the other expense, for lemons (in ₹)?
31. 31.Arjun’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹90 (sugar)
    Expense: ₹40 (paper cups)
    How much is the loss (in ₹)?
32. 32.Ananya’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹40 (stall fee)
    Expense: ₹120 (paper cups)
    How much is the loss (in ₹)?
33. 33.Aarav’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹30 (sugar)
    Expense: ₹40 (stall fee)
    How much is the loss (in ₹)?
34. 34.Ananya’s stall took in ₹250 on Friday, ₹60 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
35. 35.Which of these is an expense (money out)? (a) paying the stall fee (b) money from sales (c) a card order paid (d) payment for a cake order
36. 36.True or false: “a card order paid” is an expense (money out). (a) False (b) True
37. 37.Saanvi’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹70 (ribbon)
    Expense: ₹240 (transport)
    How much is the loss (in ₹)?
38. 38.Lakshmi’s stall took in ₹230 on Friday, ₹200 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
39. 39.📒 Income or expense: buying lemons? (a) income (b) expense
40. 40.📒 Income or expense: tutoring fees received? (a) income (b) expense

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