Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 417 · 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) tutoring fees received (b) paying the stall fee (c) money from sales (d) a card order paid
2. 2.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) cash from selling plants (d) buying lemons
3. 3.Which of these is an expense (money out)? (a) buying paper cups (b) a card order paid (c) payment for a cake order (d) tutoring fees received
4. 4.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) no reason (d) to know the real profit
5. 5.📅 When is the best time to update your records? (a) the same day (b) never (c) once a year (d) whenever you like
6. 6.➖ Profit in your records = (a) income + expenses (b) just the income (c) expenses − income (d) income − expenses
7. 7.📒 Income or expense: a card order paid? (a) expense (b) income
8. 8.Dev’s income was ₹120 and the profit was ₹20. One expense was ₹40 (card paper). How much was the other expense, for sugar (in ₹)?
9. 9.📒 Income or expense: money from sales? (a) expense (b) income
10. 10.Tara’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹160 (sugar)
    Expense: ₹40 (posters)
    How much is the loss (in ₹)?
11. 11.Kavya’s record for the day:
    Income: ₹480 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹150 (lemons)
    Expense: ₹170 (stall fee)
    What is the profit (in ₹)?
12. 12.📒 Income or expense: tutoring fees received? (a) income (b) expense
13. 13.📒 Income or expense: bus fare to the market? (a) income (b) expense
14. 14.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) tutoring fees received (d) printing posters
15. 15.📒 Income or expense: buying lemons? (a) expense (b) income
16. 16.Kabir’s stall took in ₹370 on Friday, ₹130 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
17. 17.Ananya’s stall took in ₹130 on Friday, ₹350 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
18. 18.Dev’s income was ₹500 and the profit was ₹360. One expense was ₹110 (paper cups). How much was the other expense, for lemons (in ₹)?
19. 19.Aarav’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹40 (stall fee)
    Expense: ₹140 (lemons)
    What is the profit (in ₹)?
20. 20.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
21. 21.📒 Income or expense: printing posters? (a) income (b) expense
22. 22.True or false: “money from sales” is an expense (money out). (a) True (b) False
23. 23.True or false: “a card order paid” is income (money in). (a) False (b) True
24. 24.Gurpreet’s record for the day:
    Income: ₹360 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹110 (sugar)
    Expense: ₹180 (ribbon)
    What is the profit (in ₹)?
25. 25.Arjun’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹80 (lemons)
    Expense: ₹210 (paper cups)
    How much is the loss (in ₹)?
26. 26.Zoya’s income was ₹310 and the profit was ₹190. One expense was ₹40 (transport). How much was the other expense, for stall fee (in ₹)?
27. 27.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
28. 28.Meera’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹140 (stall fee)
    Expense: ₹140 (card paper)
    What is the profit (in ₹)?
29. 29.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) bus fare to the market (d) cash from selling plants
30. 30.Nisha’s stall took in ₹150 on Friday, ₹290 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
31. 31.Arjun’s income was ₹150 and the profit was ₹80. One expense was ₹10 (sugar). How much was the other expense, for ribbon (in ₹)?
32. 32.Kabir’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹60 (posters)
    Expense: ₹280 (sugar)
    How much is the loss (in ₹)?
33. 33.Zoya’s income was ₹240 and the profit was ₹200. One expense was ₹10 (posters). How much was the other expense, for ribbon (in ₹)?
34. 34.Riya’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹40 (transport)
    Expense: ₹320 (sugar)
    How much is the loss (in ₹)?
35. 35.Meera’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹120 (sugar)
    Expense: ₹110 (lemons)
    What is the profit (in ₹)?
36. 36.Lakshmi’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹120 (card paper)
    Expense: ₹170 (lemons)
    What is the profit (in ₹)?
37. 37.Ananya’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹10 (transport)
    Expense: ₹150 (paper cups)
    How much is the loss (in ₹)?
38. 38.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) a selfie (d) nothing
39. 39.Diya’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹70 (sugar)
    Expense: ₹200 (paper cups)
    What is the profit (in ₹)?
40. 40.Kabir’s stall took in ₹240 on Friday, ₹270 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?

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