Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 439 · 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) cash from selling plants (b) money from sales (c) payment for a cake order (d) bus fare to the market
2. 2.📒 Income or expense: paying the stall fee? (a) income (b) expense
3. 3.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) no reason (d) to know the real profit
4. 4.Farhan’s income was ₹300 and the profit was ₹200. One expense was ₹60 (stall fee). How much was the other expense, for posters (in ₹)?
5. 5.Arjun’s stall took in ₹220 on Friday, ₹380 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
6. 6.True or false: “tutoring fees received” is income (money in). (a) True (b) False
7. 7.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
8. 8.Which of these is income (money in)? (a) buying lemons (b) a card order paid (c) buying paper cups (d) paying the stall fee
9. 9.Ishaan’s record for a rainy day:
   Income: ₹90 (sales)
   Expense: ₹30 (lemons)
   Expense: ₹80 (sugar)
   How much is the loss (in ₹)?
10. 10.Ishaan’s stall took in ₹210 on Friday, ₹290 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
11. 11.Saanvi’s income was ₹120 and the profit was ₹80. One expense was ₹20 (sugar). How much was the other expense, for paper cups (in ₹)?
12. 12.Tara’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹40 (transport)
    Expense: ₹90 (card paper)
    What is the profit (in ₹)?
13. 13.True or false: “money from sales” is an expense (money out). (a) False (b) True
14. 14.Ishaan’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹30 (paper cups)
    Expense: ₹160 (ribbon)
    What is the profit (in ₹)?
15. 15.Nisha’s income was ₹370 and the profit was ₹310. One expense was ₹50 (lemons). How much was the other expense, for transport (in ₹)?
16. 16.Ananya’s stall took in ₹150 on Friday, ₹270 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
17. 17.Riya’s stall took in ₹400 on Friday, ₹200 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
18. 18.Which of these is income (money in)? (a) cash from selling plants (b) printing posters (c) buying paper cups (d) paying the stall fee
19. 19.Joseph’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹70 (card paper)
    Expense: ₹150 (stall fee)
    How much is the loss (in ₹)?
20. 20.Ananya’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹420 (evening sales)
    Expense: ₹30 (stall fee)
    Expense: ₹200 (card paper)
    What is the profit (in ₹)?
21. 21.Kavya’s stall took in ₹300 on Friday, ₹290 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
22. 22.Which of these is an expense (money out)? (a) paying the stall fee (b) money from sales (c) tutoring fees received (d) a card order paid
23. 23.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
24. 24.Ananya’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹70 (sugar)
    Expense: ₹130 (paper cups)
    How much is the loss (in ₹)?
25. 25.True or false: “a card order paid” is income (money in). (a) True (b) False
26. 26.True or false: “buying lemons” is an expense (money out). (a) False (b) True
27. 27.📒 Income or expense: printing posters? (a) income (b) expense
28. 28.Kabir’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹20 (posters)
    Expense: ₹150 (sugar)
    What is the profit (in ₹)?
29. 29.📒 Income or expense: cash from selling plants? (a) income (b) expense
30. 30.➖ Profit in your records = (a) expenses − income (b) just the income (c) income + expenses (d) income − expenses
31. 31.True or false: “buying lemons” is income (money in). (a) False (b) True
32. 32.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) only the bag (d) nothing
33. 33.Lakshmi’s income was ₹210 and the profit was ₹160. One expense was ₹30 (paper cups). How much was the other expense, for ribbon (in ₹)?
34. 34.Ananya’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹130 (sugar)
    Expense: ₹90 (transport)
    What is the profit (in ₹)?
35. 35.📒 Income or expense: tutoring fees received? (a) income (b) expense
36. 36.Ananya’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹140 (posters)
    Expense: ₹100 (paper cups)
    What is the profit (in ₹)?
37. 37.Diya’s income was ₹340 and the profit was ₹230. One expense was ₹70 (stall fee). How much was the other expense, for lemons (in ₹)?
38. 38.True or false: “cash from selling plants” is income (money in). (a) True (b) False
39. 39.Farhan’s income was ₹340 and the profit was ₹90. One expense was ₹50 (sugar). How much was the other expense, for lemons (in ₹)?
40. 40.Zoya’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹110 (sugar)
    Expense: ₹60 (stall fee)
    What is the profit (in ₹)?

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