Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 437 · 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: a card order paid? (a) income (b) expense
2. 2.📒 Income or expense: cash from selling plants? (a) expense (b) income
3. 3.Farhan’s record for a rainy day:
   Income: ₹180 (sales)
   Expense: ₹180 (lemons)
   Expense: ₹20 (paper cups)
   How much is the loss (in ₹)?
4. 4.Which of these is income (money in)? (a) payment for a cake order (b) buying lemons (c) paying the stall fee (d) bus fare to the market
5. 5.Arjun’s income was ₹170 and the profit was ₹130. One expense was ₹10 (transport). How much was the other expense, for ribbon (in ₹)?
6. 6.📒 Income or expense: money from sales? (a) income (b) expense
7. 7.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
8. 8.📅 When is the best time to update your records? (a) never (b) the same day (c) whenever you like (d) once a year
9. 9.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
10. 10.Arjun’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹190 (ribbon)
    Expense: ₹10 (transport)
    How much is the loss (in ₹)?
11. 11.Gurpreet’s record for the day:
    Income: ₹460 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹100 (card paper)
    Expense: ₹100 (paper cups)
    What is the profit (in ₹)?
12. 12.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) paying the stall fee (d) tutoring fees received
13. 13.📒 Income or expense: printing posters? (a) expense (b) income
14. 14.Dev’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹50 (lemons)
    Expense: ₹40 (ribbon)
    How much is the loss (in ₹)?
15. 15.Rohan’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹30 (transport)
    Expense: ₹150 (lemons)
    What is the profit (in ₹)?
16. 16.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) payment for a cake order (d) printing posters
17. 17.📒 Income or expense: paying the stall fee? (a) expense (b) income
18. 18.📒 Income or expense: buying paper cups? (a) expense (b) income
19. 19.Lakshmi’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹140 (lemons)
    Expense: ₹60 (transport)
    How much is the loss (in ₹)?
20. 20.True or false: “tutoring fees received” is income (money in). (a) True (b) False
21. 21.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
22. 22.True or false: “cash from selling plants” is income (money in). (a) False (b) True
23. 23.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to fill a notebook (d) to look busy
24. 24.Meera’s stall took in ₹150 on Friday, ₹90 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
25. 25.Joseph’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹30 (ribbon)
    Expense: ₹60 (card paper)
    What is the profit (in ₹)?
26. 26.➖ Profit in your records = (a) just the income (b) income + expenses (c) income − expenses (d) expenses − income
27. 27.Zoya’s income was ₹500 and the profit was ₹360. One expense was ₹120 (posters). How much was the other expense, for paper cups (in ₹)?
28. 28.Ishaan’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹20 (ribbon)
    Expense: ₹70 (transport)
    How much is the loss (in ₹)?
29. 29.📒 Income or expense: payment for a cake order? (a) income (b) expense
30. 30.Ananya’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹110 (sugar)
    Expense: ₹200 (stall fee)
    What is the profit (in ₹)?
31. 31.Riya’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹120 (card paper)
    Expense: ₹120 (ribbon)
    What is the profit (in ₹)?
32. 32.Gurpreet’s income was ₹400 and the profit was ₹230. One expense was ₹130 (ribbon). How much was the other expense, for lemons (in ₹)?
33. 33.📒 Income or expense: buying lemons? (a) income (b) expense
34. 34.True or false: “paying the stall fee” is income (money in). (a) False (b) True
35. 35.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) cash from selling plants (d) paying the stall fee
36. 36.Ananya’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹190 (sugar)
    Expense: ₹80 (ribbon)
    What is the profit (in ₹)?
37. 37.True or false: “a card order paid” is income (money in). (a) True (b) False
38. 38.Vihaan’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹90 (posters)
    Expense: ₹100 (paper cups)
    How much is the loss (in ₹)?
39. 39.Farhan’s income was ₹330 and the profit was ₹210. One expense was ₹40 (transport). How much was the other expense, for sugar (in ₹)?
40. 40.Meera’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹80 (sugar)
    Expense: ₹210 (ribbon)
    How much is the loss (in ₹)?

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