Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 546 · 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.Meera’s record for a rainy day:
   Income: ₹260 (sales)
   Expense: ₹300 (sugar)
   Expense: ₹10 (card paper)
   How much is the loss (in ₹)?
2. 2.Which of these is an expense (money out)? (a) paying the stall fee (b) payment for a cake order (c) money from sales (d) cash from selling plants
3. 3.📅 When is the best time to update your records? (a) the same day (b) once a year (c) whenever you like (d) never
4. 4.📒 Income or expense: tutoring fees received? (a) expense (b) income
5. 5.Which of these is an expense (money out)? (a) buying paper cups (b) cash from selling plants (c) a card order paid (d) money from sales
6. 6.Nisha’s income was ₹120 and the profit was ₹40. One expense was ₹20 (stall fee). How much was the other expense, for ribbon (in ₹)?
7. 7.Zoya’s stall took in ₹240 on Friday, ₹190 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
8. 8.True or false: “tutoring fees received” is income (money in). (a) True (b) False
9. 9.Tara’s record for the day:
   Income: ₹190 (morning sales)
   Income: ₹110 (evening sales)
   Expense: ₹90 (lemons)
   Expense: ₹170 (ribbon)
   What is the profit (in ₹)?
10. 10.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) money from sales (d) buying lemons
11. 11.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) paying the stall fee (d) cash from selling plants
12. 12.Ishaan’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹220 (sugar)
    Expense: ₹20 (stall fee)
    How much is the loss (in ₹)?
13. 13.📒 Income or expense: cash from selling plants? (a) income (b) expense
14. 14.True or false: “buying paper cups” is income (money in). (a) False (b) True
15. 15.Kabir’s stall took in ₹140 on Friday, ₹160 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
16. 16.Joseph’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹10 (stall fee)
    Expense: ₹80 (ribbon)
    How much is the loss (in ₹)?
17. 17.True or false: “paying the stall fee” is income (money in). (a) True (b) False
18. 18.📒 Income or expense: a card order paid? (a) income (b) expense
19. 19.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) only the bag (d) a selfie
20. 20.Zoya’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹140 (lemons)
    Expense: ₹140 (ribbon)
    What is the profit (in ₹)?
21. 21.Meera’s stall took in ₹350 on Friday, ₹230 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
22. 22.Arjun’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹460 (evening sales)
    Expense: ₹130 (ribbon)
    Expense: ₹110 (card paper)
    What is the profit (in ₹)?
23. 23.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
24. 24.📒 Income or expense: money from sales? (a) expense (b) income
25. 25.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) no reason (d) to look busy
26. 26.True or false: “cash from selling plants” is income (money in). (a) True (b) False
27. 27.True or false: “printing posters” is an expense (money out). (a) False (b) True
28. 28.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
29. 29.Gurpreet’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹130 (paper cups)
    Expense: ₹150 (sugar)
    What is the profit (in ₹)?
30. 30.Kavya’s stall took in ₹250 on Friday, ₹290 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
31. 31.📒 Income or expense: buying lemons? (a) income (b) expense
32. 32.Gurpreet’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹180 (card paper)
    Expense: ₹20 (transport)
    What is the profit (in ₹)?
33. 33.Diya’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹140 (paper cups)
    Expense: ₹130 (card paper)
    What is the profit (in ₹)?
34. 34.Which of these is an expense (money out)? (a) printing posters (b) payment for a cake order (c) money from sales (d) a card order paid
35. 35.📒 Income or expense: buying paper cups? (a) income (b) expense
36. 36.Meera’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹60 (card paper)
    Expense: ₹50 (lemons)
    How much is the loss (in ₹)?
37. 37.Which of these is income (money in)? (a) payment for a cake order (b) buying lemons (c) buying paper cups (d) paying the stall fee
38. 38.Zoya’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹190 (lemons)
    Expense: ₹100 (transport)
    What is the profit (in ₹)?
39. 39.Ananya’s record for the day:
    Income: ₹380 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹120 (lemons)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
40. 40.True or false: “bus fare to the market” is income (money in). (a) False (b) True

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