Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 397 · 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.📒 Income or expense: money from sales? (a) income (b) expense
2. 2.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
3. 3.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
4. 4.Lakshmi’s record for the day:
   Income: ₹130 (morning sales)
   Income: ₹450 (evening sales)
   Expense: ₹200 (transport)
   Expense: ₹200 (sugar)
   What is the profit (in ₹)?
5. 5.True or false: “payment for a cake order” is income (money in). (a) True (b) False
6. 6.Farhan’s stall took in ₹400 on Friday, ₹300 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
7. 7.Ishaan’s income was ₹150 and the profit was ₹40. One expense was ₹30 (lemons). How much was the other expense, for sugar (in ₹)?
8. 8.Ananya’s stall took in ₹380 on Friday, ₹150 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
9. 9.True or false: “bus fare to the market” is income (money in). (a) True (b) False
10. 10.Gurpreet’s income was ₹420 and the profit was ₹260. One expense was ₹100 (ribbon). How much was the other expense, for stall fee (in ₹)?
11. 11.Nisha’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹170 (posters)
    Expense: ₹110 (sugar)
    How much is the loss (in ₹)?
12. 12.Nisha’s record for the day:
    Income: ₹520 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹200 (stall fee)
    Expense: ₹200 (posters)
    What is the profit (in ₹)?
13. 13.Tara’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹90 (transport)
    Expense: ₹200 (sugar)
    What is the profit (in ₹)?
14. 14.Ananya’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹140 (paper cups)
    Expense: ₹30 (lemons)
    What is the profit (in ₹)?
15. 15.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) tutoring fees received (d) buying paper cups
16. 16.True or false: “printing posters” is income (money in). (a) True (b) False
17. 17.Kabir’s stall took in ₹150 on Friday, ₹130 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
18. 18.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) paying the stall fee (d) payment for a cake order
19. 19.Zoya’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹160 (paper cups)
    Expense: ₹90 (stall fee)
    What is the profit (in ₹)?
20. 20.True or false: “buying lemons” is income (money in). (a) True (b) False
21. 21.Kavya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹200 (paper cups)
    Expense: ₹70 (transport)
    What is the profit (in ₹)?
22. 22.📒 Income or expense: tutoring fees received? (a) expense (b) income
23. 23.Vihaan’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹30 (sugar)
    Expense: ₹20 (posters)
    What is the profit (in ₹)?
24. 24.📒 Income or expense: cash from selling plants? (a) income (b) expense
25. 25.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) a selfie (d) the bill or receipt
26. 26.📒 Income or expense: paying the stall fee? (a) income (b) expense
27. 27.Joseph’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹190 (card paper)
    Expense: ₹100 (posters)
    What is the profit (in ₹)?
28. 28.Gurpreet’s stall took in ₹120 on Friday, ₹210 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
29. 29.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) just the income (d) income + expenses
30. 30.Gurpreet’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹190 (transport)
    Expense: ₹100 (ribbon)
    How much is the loss (in ₹)?
31. 31.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) printing posters (d) payment for a cake order
32. 32.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
33. 33.Riya’s stall took in ₹70 on Friday, ₹180 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
34. 34.📒 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
35. 35.📒 Income or expense: bus fare to the market? (a) expense (b) income
36. 36.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
37. 37.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
38. 38.📒 Income or expense: buying paper cups? (a) income (b) expense
39. 39.Riya’s stall took in ₹140 on Friday, ₹370 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
40. 40.Vihaan’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹30 (card paper)
    Expense: ₹80 (lemons)
    What is the profit (in ₹)?

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