Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 559 · 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.📒 Income or expense: a card order paid? (a) expense (b) income
2. 2.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) income + expenses (d) just the income
3. 3.Diya’s income was ₹500 and the profit was ₹50. One expense was ₹10 (stall fee). How much was the other expense, for paper cups (in ₹)?
4. 4.Gurpreet’s income was ₹390 and the profit was ₹150. One expense was ₹130 (posters). How much was the other expense, for transport (in ₹)?
5. 5.Farhan’s record for the day:
   Income: ₹340 (morning sales)
   Income: ₹70 (evening sales)
   Expense: ₹50 (lemons)
   Expense: ₹200 (ribbon)
   What is the profit (in ₹)?
6. 6.Which of these is an expense (money out)? (a) buying paper cups (b) money from sales (c) cash from selling plants (d) tutoring fees received
7. 7.Arjun’s record for a rainy day:
   Income: ₹150 (sales)
   Expense: ₹90 (card paper)
   Expense: ₹140 (sugar)
   How much is the loss (in ₹)?
8. 8.Dev’s stall took in ₹120 on Friday, ₹210 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
9. 9.Joseph’s stall took in ₹370 on Friday, ₹400 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
10. 10.Farhan’s stall took in ₹120 on Friday, ₹90 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
11. 11.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
12. 12.Joseph’s income was ₹370 and the profit was ₹200. One expense was ₹60 (transport). How much was the other expense, for card paper (in ₹)?
13. 13.Farhan’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹130 (sugar)
    Expense: ₹200 (lemons)
    How much is the loss (in ₹)?
14. 14.Kavya’s income was ₹450 and the profit was ₹300. One expense was ₹100 (card paper). How much was the other expense, for stall fee (in ₹)?
15. 15.📒 Income or expense: buying lemons? (a) expense (b) income
16. 16.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) money from sales (d) paying the stall fee
17. 17.Saanvi’s stall took in ₹100 on Friday, ₹170 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
18. 18.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to look busy (d) to fill a notebook
19. 19.Joseph’s stall took in ₹350 on Friday, ₹220 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
20. 20.Which of these is income (money in)? (a) buying paper cups (b) a card order paid (c) paying the stall fee (d) printing posters
21. 21.📅 When is the best time to update your records? (a) once a year (b) never (c) whenever you like (d) the same day
22. 22.Saanvi’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹30 (lemons)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?
23. 23.True or false: “a card order paid” is an expense (money out). (a) False (b) True
24. 24.True or false: “buying lemons” is an expense (money out). (a) False (b) True
25. 25.Riya’s stall took in ₹240 on Friday, ₹210 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
26. 26.📒 Income or expense: tutoring fees received? (a) expense (b) income
27. 27.Farhan’s income was ₹170 and the profit was ₹130. One expense was ₹10 (transport). How much was the other expense, for card paper (in ₹)?
28. 28.Saanvi’s stall took in ₹120 on Friday, ₹290 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
29. 29.True or false: “cash from selling plants” is income (money in). (a) False (b) True
30. 30.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) a card order paid (d) printing posters
31. 31.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) buying paper cups (d) money from sales
32. 32.Aarav’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹50 (ribbon)
    Expense: ₹30 (stall fee)
    How much is the loss (in ₹)?
33. 33.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) a selfie (d) the bill or receipt
34. 34.Tara’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹220 (paper cups)
    How much is the loss (in ₹)?
35. 35.Zoya’s income was ₹230 and the profit was ₹170. One expense was ₹20 (ribbon). How much was the other expense, for posters (in ₹)?
36. 36.Which of these is income (money in)? (a) cash from selling plants (b) paying the stall fee (c) bus fare to the market (d) printing posters
37. 37.Farhan’s income was ₹390 and the profit was ₹290. One expense was ₹50 (ribbon). How much was the other expense, for transport (in ₹)?
38. 38.True or false: “a card order paid” is income (money in). (a) False (b) True
39. 39.Tara’s stall took in ₹280 on Friday, ₹360 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
40. 40.📒 Income or expense: buying paper cups? (a) income (b) expense

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