Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 595 · 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 income was ₹230 and the profit was ₹190. One expense was ₹10 (stall fee). How much was the other expense, for sugar (in ₹)?
2. 2.📒 Income or expense: a card order paid? (a) income (b) expense
3. 3.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) buying lemons (d) tutoring fees received
4. 4.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) paying the stall fee (d) cash from selling plants
5. 5.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to know the real profit (d) to look busy
6. 6.📒 Income or expense: buying lemons? (a) expense (b) income
7. 7.Kavya’s record for a rainy day:
   Income: ₹110 (sales)
   Expense: ₹70 (transport)
   Expense: ₹80 (sugar)
   How much is the loss (in ₹)?
8. 8.True or false: “buying paper cups” is income (money in). (a) True (b) False
9. 9.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
10. 10.Zoya’s income was ₹160 and the profit was ₹30. One expense was ₹60 (lemons). How much was the other expense, for transport (in ₹)?
11. 11.Gurpreet’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹20 (paper cups)
    Expense: ₹150 (posters)
    How much is the loss (in ₹)?
12. 12.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
13. 13.📅 When is the best time to update your records? (a) the same day (b) once a year (c) whenever you like (d) never
14. 14.Nisha’s income was ₹380 and the profit was ₹80. One expense was ₹150 (card paper). How much was the other expense, for lemons (in ₹)?
15. 15.📒 Income or expense: paying the stall fee? (a) income (b) expense
16. 16.Kavya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹70 (transport)
    Expense: ₹90 (lemons)
    What is the profit (in ₹)?
17. 17.Kabir’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹60 (transport)
    Expense: ₹70 (lemons)
    What is the profit (in ₹)?
18. 18.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) money from sales (d) buying lemons
19. 19.Which of these is an expense (money out)? (a) a card order paid (b) bus fare to the market (c) money from sales (d) cash from selling plants
20. 20.Lakshmi’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹50 (posters)
    Expense: ₹120 (paper cups)
    How much is the loss (in ₹)?
21. 21.📒 Income or expense: cash from selling plants? (a) expense (b) income
22. 22.True or false: “payment for a cake order” is income (money in). (a) True (b) False
23. 23.Diya’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹200 (posters)
    Expense: ₹140 (paper cups)
    How much is the loss (in ₹)?
24. 24.True or false: “printing posters” is an expense (money out). (a) False (b) True
25. 25.Tara’s stall took in ₹190 on Friday, ₹140 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
26. 26.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) printing posters (d) money from sales
27. 27.Farhan’s income was ₹170 and the profit was ₹50. One expense was ₹30 (stall fee). How much was the other expense, for transport (in ₹)?
28. 28.Aarav’s income was ₹400 and the profit was ₹160. One expense was ₹80 (ribbon). How much was the other expense, for paper cups (in ₹)?
29. 29.True or false: “a card order paid” is an expense (money out). (a) True (b) False
30. 30.Dev’s stall took in ₹360 on Friday, ₹300 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
31. 31.➖ Profit in your records = (a) just the income (b) income − expenses (c) income + expenses (d) expenses − income
32. 32.Rohan’s stall took in ₹200 on Friday, ₹320 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
33. 33.True or false: “buying lemons” is an expense (money out). (a) False (b) True
34. 34.Kabir’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹100 (sugar)
    Expense: ₹120 (stall fee)
    What is the profit (in ₹)?
35. 35.True or false: “bus fare to the market” is income (money in). (a) False (b) True
36. 36.Diya’s income was ₹260 and the profit was ₹60. One expense was ₹60 (sugar). How much was the other expense, for card paper (in ₹)?
37. 37.Saanvi’s stall took in ₹360 on Friday, ₹260 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
38. 38.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) payment for a cake order (d) paying the stall fee
39. 39.Gurpreet’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹50 (paper cups)
    Expense: ₹40 (stall fee)
    What is the profit (in ₹)?
40. 40.Lakshmi’s stall took in ₹90 on Friday, ₹270 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?

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