Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 489 · 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.Zoya’s record for a rainy day:
   Income: ₹240 (sales)
   Expense: ₹10 (ribbon)
   Expense: ₹250 (sugar)
   How much is the loss (in ₹)?
2. 2.Which of these is income (money in)? (a) money from sales (b) paying the stall fee (c) bus fare to the market (d) printing posters
3. 3.Farhan’s stall took in ₹170 on Friday, ₹180 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
4. 4.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
5. 5.Nisha’s record for a rainy day:
   Income: ₹110 (sales)
   Expense: ₹120 (ribbon)
   Expense: ₹80 (card paper)
   How much is the loss (in ₹)?
6. 6.Tara’s income was ₹100 and the profit was ₹20. One expense was ₹20 (ribbon). How much was the other expense, for paper cups (in ₹)?
7. 7.True or false: “tutoring fees received” is income (money in). (a) True (b) False
8. 8.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) income − expenses (d) just the income
9. 9.Aarav’s record for a rainy day:
   Income: ₹110 (sales)
   Expense: ₹70 (transport)
   Expense: ₹80 (ribbon)
   How much is the loss (in ₹)?
10. 10.📒 Income or expense: buying lemons? (a) expense (b) income
11. 11.Which of these is income (money in)? (a) payment for a cake order (b) bus fare to the market (c) printing posters (d) buying lemons
12. 12.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) money from sales (d) printing posters
13. 13.📒 Income or expense: tutoring fees received? (a) expense (b) income
14. 14.📅 When is the best time to update your records? (a) never (b) whenever you like (c) once a year (d) the same day
15. 15.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to know the real profit (d) to fill a notebook
16. 16.Which of these is an expense (money out)? (a) tutoring fees received (b) bus fare to the market (c) money from sales (d) payment for a cake order
17. 17.Arjun’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹20 (posters)
    Expense: ₹210 (lemons)
    How much is the loss (in ₹)?
18. 18.📒 Income or expense: a card order paid? (a) expense (b) income
19. 19.Gurpreet’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹130 (sugar)
    Expense: ₹70 (card paper)
    What is the profit (in ₹)?
20. 20.Zoya’s income was ₹390 and the profit was ₹190. One expense was ₹20 (paper cups). How much was the other expense, for lemons (in ₹)?
21. 21.Kabir’s income was ₹100 and the profit was ₹20. One expense was ₹20 (lemons). How much was the other expense, for sugar (in ₹)?
22. 22.📒 Income or expense: payment for a cake order? (a) expense (b) income
23. 23.Zoya’s income was ₹270 and the profit was ₹60. One expense was ₹170 (stall fee). How much was the other expense, for lemons (in ₹)?
24. 24.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) cash from selling plants (d) buying lemons
25. 25.Rohan’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹260 (transport)
    Expense: ₹10 (ribbon)
    How much is the loss (in ₹)?
26. 26.Dev’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹60 (lemons)
    Expense: ₹20 (stall fee)
    What is the profit (in ₹)?
27. 27.Saanvi’s stall took in ₹110 on Friday, ₹110 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
28. 28.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
29. 29.True or false: “payment for a cake order” is income (money in). (a) False (b) True
30. 30.Joseph’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹130 (posters)
    Expense: ₹150 (ribbon)
    What is the profit (in ₹)?
31. 31.Vihaan’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹90 (ribbon)
    Expense: ₹280 (paper cups)
    How much is the loss (in ₹)?
32. 32.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) tutoring fees received (d) buying lemons
33. 33.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) the bill or receipt (d) a selfie
34. 34.Lakshmi’s record for the day:
    Income: ₹410 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹190 (transport)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
35. 35.📒 Income or expense: paying the stall fee? (a) expense (b) income
36. 36.📒 Income or expense: printing posters? (a) expense (b) income
37. 37.📒 Income or expense: cash from selling plants? (a) expense (b) income
38. 38.Meera’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹160 (lemons)
    Expense: ₹70 (card paper)
    What is the profit (in ₹)?
39. 39.True or false: “a card order paid” is income (money in). (a) True (b) False
40. 40.True or false: “money from sales” is income (money in). (a) False (b) True

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