Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 614 · 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.Which of these is income (money in)? (a) buying lemons (b) payment for a cake order (c) buying paper cups (d) bus fare to the market
2. 2.Lakshmi’s record for a rainy day:
   Income: ₹70 (sales)
   Expense: ₹50 (lemons)
   Expense: ₹30 (paper cups)
   How much is the loss (in ₹)?
3. 3.True or false: “a card order paid” is income (money in). (a) True (b) False
4. 4.Aarav’s stall took in ₹90 on Friday, ₹330 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
5. 5.Kavya’s record for a rainy day:
   Income: ₹280 (sales)
   Expense: ₹180 (ribbon)
   Expense: ₹190 (card paper)
   How much is the loss (in ₹)?
6. 6.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) to know the real profit (d) no reason
7. 7.Ananya’s record for a rainy day:
   Income: ₹50 (sales)
   Expense: ₹10 (paper cups)
   Expense: ₹70 (ribbon)
   How much is the loss (in ₹)?
8. 8.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) a card order paid (d) paying the stall fee
9. 9.Vihaan’s stall took in ₹280 on Friday, ₹110 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
10. 10.True or false: “cash from selling plants” is income (money in). (a) True (b) False
11. 11.Which of these is an expense (money out)? (a) payment for a cake order (b) bus fare to the market (c) tutoring fees received (d) money from sales
12. 12.📅 When is the best time to update your records? (a) the same day (b) once a year (c) whenever you like (d) never
13. 13.Saanvi’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹10 (posters)
    Expense: ₹50 (sugar)
    How much is the loss (in ₹)?
14. 14.📒 Income or expense: a card order paid? (a) income (b) expense
15. 15.Arjun’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹40 (stall fee)
    Expense: ₹80 (ribbon)
    What is the profit (in ₹)?
16. 16.Farhan’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹30 (stall fee)
    Expense: ₹50 (transport)
    How much is the loss (in ₹)?
17. 17.Arjun’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹20 (posters)
    Expense: ₹170 (lemons)
    What is the profit (in ₹)?
18. 18.Rohan’s stall took in ₹120 on Friday, ₹370 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
19. 19.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) payment for a cake order (d) printing posters
20. 20.📒 Income or expense: buying lemons? (a) expense (b) income
21. 21.➖ Profit in your records = (a) just the income (b) income − expenses (c) income + expenses (d) expenses − income
22. 22.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
23. 23.Meera’s record for the day:
    Income: ₹510 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹160 (posters)
    Expense: ₹120 (transport)
    What is the profit (in ₹)?
24. 24.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) only the bag (d) nothing
25. 25.Ishaan’s stall took in ₹260 on Friday, ₹340 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
26. 26.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
27. 27.📒 Income or expense: tutoring fees received? (a) income (b) expense
28. 28.True or false: “paying the stall fee” is income (money in). (a) False (b) True
29. 29.📒 Income or expense: cash from selling plants? (a) income (b) expense
30. 30.True or false: “money from sales” is income (money in). (a) False (b) True
31. 31.📒 Income or expense: money from sales? (a) income (b) expense
32. 32.Aarav’s stall took in ₹160 on Friday, ₹70 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
33. 33.True or false: “buying lemons” is an expense (money out). (a) True (b) False
34. 34.Meera’s stall took in ₹350 on Friday, ₹250 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
35. 35.Zoya’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹80 (paper cups)
    Expense: ₹160 (stall fee)
    What is the profit (in ₹)?
36. 36.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) buying paper cups (d) money from sales
37. 37.Vihaan’s stall took in ₹90 on Friday, ₹330 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
38. 38.Vihaan’s stall took in ₹210 on Friday, ₹110 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
39. 39.📒 Income or expense: printing posters? (a) expense (b) income
40. 40.Kabir’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹300 (ribbon)
    Expense: ₹20 (paper cups)
    How much is the loss (in ₹)?

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