Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 628 · 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.True or false: “buying lemons” is an expense (money out). (a) True (b) False
2. 2.📅 When is the best time to update your records? (a) the same day (b) never (c) once a year (d) whenever you like
3. 3.Arjun’s income was ₹150 and the profit was ₹30. One expense was ₹40 (sugar). How much was the other expense, for ribbon (in ₹)?
4. 4.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
5. 5.Arjun’s record for a rainy day:
   Income: ₹160 (sales)
   Expense: ₹130 (stall fee)
   Expense: ₹80 (transport)
   How much is the loss (in ₹)?
6. 6.Which of these is an expense (money out)? (a) bus fare to the market (b) cash from selling plants (c) money from sales (d) tutoring fees received
7. 7.True or false: “a card order paid” is an expense (money out). (a) True (b) False
8. 8.Kabir’s income was ₹500 and the profit was ₹80. One expense was ₹270 (ribbon). How much was the other expense, for stall fee (in ₹)?
9. 9.📒 Income or expense: buying paper cups? (a) expense (b) income
10. 10.Joseph’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹40 (lemons)
    Expense: ₹140 (card paper)
    What is the profit (in ₹)?
11. 11.Saanvi’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹180 (card paper)
    Expense: ₹150 (sugar)
    How much is the loss (in ₹)?
12. 12.➖ Profit in your records = (a) just the income (b) income + expenses (c) expenses − income (d) income − expenses
13. 13.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) money from sales (d) buying paper cups
14. 14.Nisha’s stall took in ₹210 on Friday, ₹250 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
15. 15.Ishaan’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹170 (card paper)
    Expense: ₹60 (transport)
    What is the profit (in ₹)?
16. 16.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
17. 17.📒 Income or expense: payment for a cake order? (a) income (b) expense
18. 18.True or false: “buying paper cups” is income (money in). (a) True (b) False
19. 19.Tara’s record for the day:
    Income: ₹420 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹90 (stall fee)
    Expense: ₹200 (lemons)
    What is the profit (in ₹)?
20. 20.📒 Income or expense: a card order paid? (a) income (b) expense
21. 21.Diya’s stall took in ₹300 on Friday, ₹320 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
22. 22.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) buying paper cups (d) payment for a cake order
23. 23.Nisha’s income was ₹230 and the profit was ₹90. One expense was ₹90 (stall fee). How much was the other expense, for paper cups (in ₹)?
24. 24.Which of these is income (money in)? (a) paying the stall fee (b) money from sales (c) buying lemons (d) printing posters
25. 25.Kavya’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹180 (card paper)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
26. 26.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to know the real profit (d) to fill a notebook
27. 27.True or false: “payment for a cake order” is income (money in). (a) True (b) False
28. 28.📒 Income or expense: money from sales? (a) income (b) expense
29. 29.Tara’s stall took in ₹360 on Friday, ₹170 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
30. 30.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) nothing (d) only the bag
31. 31.Ishaan’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹590 (evening sales)
    Expense: ₹180 (paper cups)
    Expense: ₹190 (lemons)
    What is the profit (in ₹)?
32. 32.Kavya’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹170 (stall fee)
    Expense: ₹50 (sugar)
    How much is the loss (in ₹)?
33. 33.Kabir’s stall took in ₹280 on Friday, ₹140 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
34. 34.Meera’s stall took in ₹390 on Friday, ₹170 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
35. 35.Lakshmi’s income was ₹380 and the profit was ₹290. One expense was ₹80 (card paper). How much was the other expense, for paper cups (in ₹)?
36. 36.Gurpreet’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹50 (transport)
    Expense: ₹50 (stall fee)
    What is the profit (in ₹)?
37. 37.Zoya’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹200 (stall fee)
    Expense: ₹140 (ribbon)
    How much is the loss (in ₹)?
38. 38.Tara’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹170 (paper cups)
    Expense: ₹40 (stall fee)
    How much is the loss (in ₹)?
39. 39.True or false: “bus fare to the market” is income (money in). (a) True (b) False
40. 40.Tara’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹160 (stall fee)
    Expense: ₹190 (card paper)
    What is the profit (in ₹)?

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