Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 499 · 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.Saanvi’s record for a rainy day:
   Income: ₹300 (sales)
   Expense: ₹290 (stall fee)
   Expense: ₹90 (lemons)
   How much is the loss (in ₹)?
2. 2.📒 Income or expense: cash from selling plants? (a) income (b) expense
3. 3.📒 Income or expense: money from sales? (a) income (b) expense
4. 4.True or false: “money from sales” is income (money in). (a) False (b) True
5. 5.Tara’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹40 (lemons)
   Expense: ₹150 (stall fee)
   How much is the loss (in ₹)?
6. 6.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
7. 7.📒 Income or expense: payment for a cake order? (a) expense (b) income
8. 8.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) no reason (d) to know the real profit
9. 9.True or false: “buying lemons” is income (money in). (a) True (b) False
10. 10.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
11. 11.Joseph’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹300 (lemons)
    Expense: ₹10 (posters)
    How much is the loss (in ₹)?
12. 12.Kavya’s stall took in ₹300 on Friday, ₹330 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
13. 13.Which of these is income (money in)? (a) money from sales (b) buying lemons (c) paying the stall fee (d) buying paper cups
14. 14.Zoya’s record for the day:
    Income: ₹430 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹110 (paper cups)
    Expense: ₹80 (ribbon)
    What is the profit (in ₹)?
15. 15.Nisha’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹90 (ribbon)
    Expense: ₹120 (sugar)
    What is the profit (in ₹)?
16. 16.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) buying lemons (d) tutoring fees received
17. 17.Diya’s record for the day:
    Income: ₹490 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹110 (card paper)
    Expense: ₹180 (paper cups)
    What is the profit (in ₹)?
18. 18.Rohan’s income was ₹320 and the profit was ₹260. One expense was ₹50 (sugar). How much was the other expense, for ribbon (in ₹)?
19. 19.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
20. 20.Tara’s stall took in ₹180 on Friday, ₹110 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
21. 21.Ananya’s stall took in ₹300 on Friday, ₹150 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
22. 22.📒 Income or expense: printing posters? (a) expense (b) income
23. 23.True or false: “printing posters” is an expense (money out). (a) False (b) True
24. 24.➖ Profit in your records = (a) just the income (b) expenses − income (c) income − expenses (d) income + expenses
25. 25.Ananya’s income was ₹370 and the profit was ₹220. One expense was ₹110 (ribbon). How much was the other expense, for stall fee (in ₹)?
26. 26.Which of these is income (money in)? (a) payment for a cake order (b) paying the stall fee (c) buying lemons (d) printing posters
27. 27.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
28. 28.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) a selfie (d) nothing
29. 29.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) cash from selling plants (d) printing posters
30. 30.Rohan’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹110 (posters)
    Expense: ₹170 (lemons)
    What is the profit (in ₹)?
31. 31.Ishaan’s income was ₹110 and the profit was ₹60. One expense was ₹40 (posters). How much was the other expense, for sugar (in ₹)?
32. 32.True or false: “payment for a cake order” is income (money in). (a) True (b) False
33. 33.True or false: “a card order paid” is income (money in). (a) False (b) True
34. 34.Farhan’s income was ₹210 and the profit was ₹40. One expense was ₹40 (paper cups). How much was the other expense, for sugar (in ₹)?
35. 35.Kavya’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹110 (stall fee)
    Expense: ₹20 (paper cups)
    How much is the loss (in ₹)?
36. 36.Tara’s income was ₹250 and the profit was ₹80. One expense was ₹80 (transport). How much was the other expense, for lemons (in ₹)?
37. 37.True or false: “buying paper cups” is income (money in). (a) False (b) True
38. 38.📒 Income or expense: paying the stall fee? (a) income (b) expense
39. 39.Saanvi’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹30 (stall fee)
    Expense: ₹100 (lemons)
    What is the profit (in ₹)?
40. 40.Arjun’s income was ₹310 and the profit was ₹180. One expense was ₹120 (paper cups). How much was the other expense, for sugar (in ₹)?

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