Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 385 · 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: “buying lemons” is income (money in). (a) False (b) True
2. 2.➖ Profit in your records = (a) just the income (b) income − expenses (c) expenses − income (d) income + expenses
3. 3.Lakshmi’s record for a rainy day:
   Income: ₹240 (sales)
   Expense: ₹180 (posters)
   Expense: ₹70 (transport)
   How much is the loss (in ₹)?
4. 4.Vihaan’s stall took in ₹210 on Friday, ₹60 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
5. 5.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) paying the stall fee (d) money from sales
6. 6.📒 Income or expense: bus fare to the market? (a) income (b) expense
7. 7.Lakshmi’s record for a rainy day:
   Income: ₹80 (sales)
   Expense: ₹70 (posters)
   Expense: ₹50 (transport)
   How much is the loss (in ₹)?
8. 8.Riya’s record for a rainy day:
   Income: ₹80 (sales)
   Expense: ₹130 (ribbon)
   Expense: ₹10 (lemons)
   How much is the loss (in ₹)?
9. 9.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
10. 10.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) printing posters (d) tutoring fees received
11. 11.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) paying the stall fee (d) a card order paid
12. 12.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) the bill or receipt (d) nothing
13. 13.Which of these is income (money in)? (a) printing posters (b) tutoring fees received (c) bus fare to the market (d) buying lemons
14. 14.Dev’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹50 (card paper)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?
15. 15.Ananya’s income was ₹300 and the profit was ₹90. One expense was ₹60 (stall fee). How much was the other expense, for ribbon (in ₹)?
16. 16.Nisha’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹70 (paper cups)
    Expense: ₹60 (stall fee)
    What is the profit (in ₹)?
17. 17.📒 Income or expense: buying lemons? (a) income (b) expense
18. 18.True or false: “bus fare to the market” is income (money in). (a) True (b) False
19. 19.📒 Income or expense: printing posters? (a) expense (b) income
20. 20.Vihaan’s stall took in ₹320 on Friday, ₹280 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
21. 21.Dev’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹20 (transport)
    Expense: ₹280 (ribbon)
    How much is the loss (in ₹)?
22. 22.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) payment for a cake order (d) paying the stall fee
23. 23.Nisha’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹200 (lemons)
    Expense: ₹40 (sugar)
    How much is the loss (in ₹)?
24. 24.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) a card order paid (d) bus fare to the market
25. 25.Nisha’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹20 (stall fee)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
26. 26.📒 Income or expense: buying paper cups? (a) income (b) expense
27. 27.📒 Income or expense: a card order paid? (a) income (b) expense
28. 28.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
29. 29.Ananya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹490 (evening sales)
    Expense: ₹170 (paper cups)
    Expense: ₹180 (lemons)
    What is the profit (in ₹)?
30. 30.Lakshmi’s stall took in ₹110 on Friday, ₹360 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
31. 31.Aarav’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹170 (lemons)
    Expense: ₹140 (sugar)
    How much is the loss (in ₹)?
32. 32.Arjun’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹140 (transport)
    Expense: ₹60 (ribbon)
    What is the profit (in ₹)?
33. 33.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
34. 34.Which of these is an expense (money out)? (a) money from sales (b) buying lemons (c) payment for a cake order (d) tutoring fees received
35. 35.Arjun’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹150 (stall fee)
    Expense: ₹180 (posters)
    What is the profit (in ₹)?
36. 36.Joseph’s stall took in ₹390 on Friday, ₹240 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
37. 37.📒 Income or expense: money from sales? (a) expense (b) income
38. 38.Tara’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹120 (transport)
    Expense: ₹30 (card paper)
    What is the profit (in ₹)?
39. 39.📅 When is the best time to update your records? (a) the same day (b) once a year (c) never (d) whenever you like
40. 40.Nisha’s stall took in ₹60 on Friday, ₹270 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?

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