Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 393 · 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: “bus fare to the market” is income (money in). (a) True (b) False
2. 2.📒 Income or expense: printing posters? (a) income (b) expense
3. 3.📒 Income or expense: money from sales? (a) expense (b) income
4. 4.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) the bill or receipt (d) only the bag
5. 5.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) paying the stall fee (d) a card order paid
6. 6.Farhan’s record for a rainy day:
   Income: ₹50 (sales)
   Expense: ₹50 (posters)
   Expense: ₹20 (sugar)
   How much is the loss (in ₹)?
7. 7.Tara’s record for the day:
   Income: ₹70 (morning sales)
   Income: ₹60 (evening sales)
   Expense: ₹20 (transport)
   Expense: ₹90 (card paper)
   What is the profit (in ₹)?
8. 8.Zoya’s record for a rainy day:
   Income: ₹210 (sales)
   Expense: ₹220 (card paper)
   Expense: ₹10 (ribbon)
   How much is the loss (in ₹)?
9. 9.Zoya’s income was ₹290 and the profit was ₹120. One expense was ₹120 (transport). How much was the other expense, for posters (in ₹)?
10. 10.Arjun’s income was ₹290 and the profit was ₹240. One expense was ₹30 (posters). How much was the other expense, for transport (in ₹)?
11. 11.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
12. 12.📅 When is the best time to update your records? (a) never (b) the same day (c) whenever you like (d) once a year
13. 13.📒 Income or expense: payment for a cake order? (a) income (b) expense
14. 14.Lakshmi’s stall took in ₹70 on Friday, ₹390 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
15. 15.True or false: “cash from selling plants” is income (money in). (a) False (b) True
16. 16.True or false: “buying paper cups” is income (money in). (a) False (b) True
17. 17.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) tutoring fees received (d) buying paper cups
18. 18.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) payment for a cake order (d) printing posters
19. 19.📒 Income or expense: a card order paid? (a) income (b) expense
20. 20.Diya’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹190 (paper cups)
    Expense: ₹60 (stall fee)
    What is the profit (in ₹)?
21. 21.Gurpreet’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹30 (lemons)
    Expense: ₹70 (ribbon)
    What is the profit (in ₹)?
22. 22.True or false: “buying lemons” is an expense (money out). (a) True (b) False
23. 23.Kabir’s income was ₹480 and the profit was ₹150. One expense was ₹30 (paper cups). How much was the other expense, for card paper (in ₹)?
24. 24.Ishaan’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹100 (stall fee)
    Expense: ₹180 (sugar)
    What is the profit (in ₹)?
25. 25.Lakshmi’s income was ₹100 and the profit was ₹20. One expense was ₹70 (lemons). How much was the other expense, for stall fee (in ₹)?
26. 26.Joseph’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹450 (evening sales)
    Expense: ₹130 (transport)
    Expense: ₹150 (paper cups)
    What is the profit (in ₹)?
27. 27.📒 Income or expense: cash from selling plants? (a) expense (b) income
28. 28.📒 Income or expense: buying lemons? (a) expense (b) income
29. 29.Lakshmi’s income was ₹100 and the profit was ₹50. One expense was ₹40 (card paper). How much was the other expense, for sugar (in ₹)?
30. 30.Which of these is income (money in)? (a) tutoring fees received (b) buying lemons (c) bus fare to the market (d) paying the stall fee
31. 31.Gurpreet’s record for the day:
    Income: ₹430 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹80 (transport)
    Expense: ₹150 (lemons)
    What is the profit (in ₹)?
32. 32.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) to look busy (d) no reason
33. 33.Gurpreet’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹20 (stall fee)
    Expense: ₹250 (card paper)
    How much is the loss (in ₹)?
34. 34.📒 Income or expense: bus fare to the market? (a) income (b) expense
35. 35.Dev’s income was ₹440 and the profit was ₹210. One expense was ₹140 (transport). How much was the other expense, for stall fee (in ₹)?
36. 36.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) payment for a cake order (d) paying the stall fee
37. 37.📒 Income or expense: buying paper cups? (a) expense (b) income
38. 38.Vihaan’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹110 (stall fee)
    Expense: ₹30 (paper cups)
    What is the profit (in ₹)?
39. 39.Dev’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹460 (evening sales)
    Expense: ₹110 (stall fee)
    Expense: ₹140 (lemons)
    What is the profit (in ₹)?
40. 40.Meera’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹250 (paper cups)
    Expense: ₹40 (sugar)
    How much is the loss (in ₹)?

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