Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 461 · 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.True or false: “cash from selling plants” is income (money in). (a) False (b) True
2. 2.Which of these is an expense (money out)? (a) money from sales (b) buying lemons (c) cash from selling plants (d) tutoring fees received
3. 3.Meera’s stall took in ₹290 on Friday, ₹310 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
4. 4.Vihaan’s record for the day:
   Income: ₹470 (morning sales)
   Income: ₹30 (evening sales)
   Expense: ₹190 (posters)
   Expense: ₹180 (transport)
   What is the profit (in ₹)?
5. 5.Tara’s record for a rainy day:
   Income: ₹50 (sales)
   Expense: ₹30 (sugar)
   Expense: ₹80 (ribbon)
   How much is the loss (in ₹)?
6. 6.Which of these is an expense (money out)? (a) payment for a cake order (b) printing posters (c) a card order paid (d) tutoring fees received
7. 7.Nisha’s record for the day:
   Income: ₹210 (morning sales)
   Income: ₹330 (evening sales)
   Expense: ₹80 (sugar)
   Expense: ₹160 (transport)
   What is the profit (in ₹)?
8. 8.Arjun’s record for a rainy day:
   Income: ₹50 (sales)
   Expense: ₹20 (transport)
   Expense: ₹40 (posters)
   How much is the loss (in ₹)?
9. 9.📒 Income or expense: tutoring fees received? (a) income (b) expense
10. 10.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
11. 11.Gurpreet’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹210 (ribbon)
    Expense: ₹20 (card paper)
    How much is the loss (in ₹)?
12. 12.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) printing posters (d) a card order paid
13. 13.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) a selfie (d) nothing
14. 14.Ananya’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹80 (paper cups)
    Expense: ₹160 (posters)
    What is the profit (in ₹)?
15. 15.Nisha’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹140 (ribbon)
    Expense: ₹40 (posters)
    How much is the loss (in ₹)?
16. 16.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to look busy (d) to know the real profit
17. 17.📅 When is the best time to update your records? (a) once a year (b) never (c) whenever you like (d) the same day
18. 18.Vihaan’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹80 (lemons)
    Expense: ₹10 (transport)
    How much is the loss (in ₹)?
19. 19.Vihaan’s income was ₹280 and the profit was ₹30. One expense was ₹50 (paper cups). How much was the other expense, for posters (in ₹)?
20. 20.Kabir’s income was ₹180 and the profit was ₹160. One expense was ₹10 (transport). How much was the other expense, for posters (in ₹)?
21. 21.📒 Income or expense: a card order paid? (a) income (b) expense
22. 22.Farhan’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹640 (evening sales)
    Expense: ₹190 (posters)
    Expense: ₹190 (lemons)
    What is the profit (in ₹)?
23. 23.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) bus fare to the market (d) cash from selling plants
24. 24.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) cash from selling plants (d) paying the stall fee
25. 25.True or false: “paying the stall fee” is income (money in). (a) False (b) True
26. 26.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) printing posters (d) tutoring fees received
27. 27.📒 Income or expense: paying the stall fee? (a) income (b) expense
28. 28.True or false: “buying lemons” is income (money in). (a) True (b) False
29. 29.Arjun’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹80 (posters)
    Expense: ₹50 (card paper)
    How much is the loss (in ₹)?
30. 30.Kabir’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹60 (ribbon)
    Expense: ₹140 (transport)
    What is the profit (in ₹)?
31. 31.Meera’s income was ₹480 and the profit was ₹230. One expense was ₹30 (transport). How much was the other expense, for lemons (in ₹)?
32. 32.Vihaan’s income was ₹260 and the profit was ₹70. One expense was ₹50 (lemons). How much was the other expense, for paper cups (in ₹)?
33. 33.Kabir’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹40 (transport)
    Expense: ₹170 (stall fee)
    How much is the loss (in ₹)?
34. 34.Nisha’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹240 (lemons)
    Expense: ₹40 (ribbon)
    How much is the loss (in ₹)?
35. 35.Tara’s stall took in ₹250 on Friday, ₹140 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
36. 36.Diya’s income was ₹340 and the profit was ₹70. One expense was ₹190 (posters). How much was the other expense, for stall fee (in ₹)?
37. 37.📒 Income or expense: cash from selling plants? (a) expense (b) income
38. 38.Which of these is income (money in)? (a) paying the stall fee (b) payment for a cake order (c) buying lemons (d) buying paper cups
39. 39.True or false: “a card order paid” is an expense (money out). (a) True (b) False
40. 40.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) buying paper cups (d) a card order paid

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