Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 459 · 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.Rohan’s record for a rainy day:
   Income: ₹130 (sales)
   Expense: ₹80 (paper cups)
   Expense: ₹90 (card paper)
   How much is the loss (in ₹)?
2. 2.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) cash from selling plants (d) bus fare to the market
3. 3.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) money from sales (d) buying lemons
4. 4.📒 Income or expense: buying lemons? (a) income (b) expense
5. 5.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) a card order paid (d) printing posters
6. 6.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) just the income (d) expenses − income
7. 7.Which of these is an expense (money out)? (a) buying paper cups (b) tutoring fees received (c) money from sales (d) cash from selling plants
8. 8.Rohan’s record for the day:
   Income: ₹210 (morning sales)
   Income: ₹120 (evening sales)
   Expense: ₹110 (sugar)
   Expense: ₹20 (card paper)
   What is the profit (in ₹)?
9. 9.Farhan’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹100 (evening sales)
   Expense: ₹60 (lemons)
   Expense: ₹30 (ribbon)
   What is the profit (in ₹)?
10. 10.📒 Income or expense: bus fare to the market? (a) income (b) expense
11. 11.📅 When is the best time to update your records? (a) whenever you like (b) never (c) the same day (d) once a year
12. 12.Gurpreet’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹80 (ribbon)
    Expense: ₹220 (transport)
    How much is the loss (in ₹)?
13. 13.Farhan’s record for the day:
    Income: ₹370 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹200 (posters)
    Expense: ₹80 (card paper)
    What is the profit (in ₹)?
14. 14.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) a card order paid (d) bus fare to the market
15. 15.Which of these is income (money in)? (a) a card order paid (b) printing posters (c) bus fare to the market (d) buying paper cups
16. 16.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) paying the stall fee (d) tutoring fees received
17. 17.Aarav’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹50 (transport)
    Expense: ₹250 (paper cups)
    How much is the loss (in ₹)?
18. 18.Arjun’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹180 (stall fee)
    Expense: ₹40 (ribbon)
    What is the profit (in ₹)?
19. 19.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) only the bag (d) a selfie
20. 20.True or false: “a card order paid” is income (money in). (a) True (b) False
21. 21.📒 Income or expense: money from sales? (a) expense (b) income
22. 22.True or false: “money from sales” is an expense (money out). (a) False (b) True
23. 23.Diya’s income was ₹390 and the profit was ₹210. One expense was ₹150 (posters). How much was the other expense, for sugar (in ₹)?
24. 24.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) tutoring fees received (d) buying paper cups
25. 25.📒 Income or expense: cash from selling plants? (a) expense (b) income
26. 26.📒 Income or expense: payment for a cake order? (a) expense (b) income
27. 27.Ishaan’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹60 (stall fee)
    Expense: ₹140 (transport)
    What is the profit (in ₹)?
28. 28.Kavya’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹240 (sugar)
    Expense: ₹150 (stall fee)
    How much is the loss (in ₹)?
29. 29.Kavya’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹50 (ribbon)
    Expense: ₹70 (card paper)
    How much is the loss (in ₹)?
30. 30.Kabir’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹50 (posters)
    What is the profit (in ₹)?
31. 31.Lakshmi’s stall took in ₹370 on Friday, ₹340 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
32. 32.True or false: “cash from selling plants” is income (money in). (a) False (b) True
33. 33.Diya’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹190 (stall fee)
    Expense: ₹90 (transport)
    How much is the loss (in ₹)?
34. 34.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) to know the real profit (d) no reason
35. 35.Lakshmi’s stall took in ₹220 on Friday, ₹110 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
36. 36.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) payment for a cake order (d) bus fare to the market
37. 37.Which of these is an expense (money out)? (a) buying lemons (b) money from sales (c) a card order paid (d) cash from selling plants
38. 38.Lakshmi’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹100 (card paper)
    Expense: ₹140 (stall fee)
    What is the profit (in ₹)?
39. 39.Meera’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹340 (posters)
    Expense: ₹20 (lemons)
    How much is the loss (in ₹)?
40. 40.Meera’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹150 (lemons)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?

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