Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 398 · 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.Which of these is an expense (money out)? (a) printing posters (b) payment for a cake order (c) tutoring fees received (d) a card order paid
2. 2.Kabir’s stall took in ₹230 on Friday, ₹150 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
3. 3.Lakshmi’s record for the day:
   Income: ₹50 (morning sales)
   Income: ₹500 (evening sales)
   Expense: ₹200 (card paper)
   Expense: ₹70 (lemons)
   What is the profit (in ₹)?
4. 4.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) just the income (d) income − expenses
5. 5.📒 Income or expense: a card order paid? (a) income (b) expense
6. 6.Which of these is income (money in)? (a) tutoring fees received (b) printing posters (c) buying lemons (d) buying paper cups
7. 7.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to fill a notebook (d) to know the real profit
8. 8.Which of these is an expense (money out)? (a) paying the stall fee (b) payment for a cake order (c) money from sales (d) tutoring fees received
9. 9.📒 Income or expense: cash from selling plants? (a) expense (b) income
10. 10.📒 Income or expense: payment for a cake order? (a) expense (b) income
11. 11.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
12. 12.Which of these is income (money in)? (a) buying lemons (b) a card order paid (c) buying paper cups (d) bus fare to the market
13. 13.Diya’s stall took in ₹170 on Friday, ₹100 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
14. 14.Which of these is an expense (money out)? (a) bus fare to the market (b) cash from selling plants (c) a card order paid (d) payment for a cake order
15. 15.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
16. 16.Rohan’s income was ₹100 and the profit was ₹50. One expense was ₹30 (paper cups). How much was the other expense, for transport (in ₹)?
17. 17.Nisha’s stall took in ₹360 on Friday, ₹300 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
18. 18.📒 Income or expense: buying lemons? (a) income (b) expense
19. 19.📒 Income or expense: bus fare to the market? (a) expense (b) income
20. 20.Riya’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹150 (ribbon)
    Expense: ₹200 (posters)
    What is the profit (in ₹)?
21. 21.Vihaan’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹160 (lemons)
    Expense: ₹140 (transport)
    What is the profit (in ₹)?
22. 22.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) paying the stall fee (d) money from sales
23. 23.Joseph’s stall took in ₹220 on Friday, ₹400 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
24. 24.Which of these is income (money in)? (a) cash from selling plants (b) buying lemons (c) printing posters (d) bus fare to the market
25. 25.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) the bill or receipt (d) only the bag
26. 26.Ananya’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹70 (stall fee)
    Expense: ₹120 (lemons)
    What is the profit (in ₹)?
27. 27.Joseph’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹170 (posters)
    Expense: ₹10 (card paper)
    How much is the loss (in ₹)?
28. 28.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
29. 29.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
30. 30.Ishaan’s stall took in ₹300 on Friday, ₹290 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
31. 31.Meera’s stall took in ₹270 on Friday, ₹190 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
32. 32.Ishaan’s income was ₹120 and the profit was ₹10. One expense was ₹80 (lemons). How much was the other expense, for transport (in ₹)?
33. 33.True or false: “printing posters” is income (money in). (a) False (b) True
34. 34.Lakshmi’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹20 (lemons)
    Expense: ₹100 (posters)
    What is the profit (in ₹)?
35. 35.Arjun’s stall took in ₹180 on Friday, ₹80 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
36. 36.Which of these is income (money in)? (a) payment for a cake order (b) buying lemons (c) printing posters (d) paying the stall fee
37. 37.📒 Income or expense: buying paper cups? (a) expense (b) income
38. 38.Zoya’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹110 (stall fee)
    Expense: ₹170 (posters)
    How much is the loss (in ₹)?
39. 39.Rohan’s income was ₹410 and the profit was ₹320. One expense was ₹10 (ribbon). How much was the other expense, for card paper (in ₹)?
40. 40.Gurpreet’s income was ₹310 and the profit was ₹160. One expense was ₹30 (transport). How much was the other expense, for posters (in ₹)?

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