Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 66 · 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.Arjun’s record for a rainy day:
   Income: ₹230 (sales)
   Expense: ₹80 (card paper)
   Expense: ₹180 (lemons)
   How much is the loss (in ₹)?
2. 2.Farhan’s income was ₹470 and the profit was ₹270. One expense was ₹170 (ribbon). How much was the other expense, for stall fee (in ₹)?
3. 3.📒 Income or expense: cash from selling plants? (a) expense (b) income
4. 4.Diya’s record for a rainy day:
   Income: ₹220 (sales)
   Expense: ₹80 (transport)
   Expense: ₹190 (ribbon)
   How much is the loss (in ₹)?
5. 5.📒 Income or expense: payment for a cake order? (a) income (b) expense
6. 6.📅 When is the best time to update your records? (a) never (b) whenever you like (c) once a year (d) the same day
7. 7.📒 Income or expense: money from sales? (a) expense (b) income
8. 8.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) a selfie (d) the bill or receipt
9. 9.Dev’s record for a rainy day:
   Income: ₹280 (sales)
   Expense: ₹280 (posters)
   Expense: ₹100 (transport)
   How much is the loss (in ₹)?
10. 10.Zoya’s stall took in ₹200 on Friday, ₹360 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
11. 11.Lakshmi’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹400 (evening sales)
    Expense: ₹40 (posters)
    Expense: ₹160 (transport)
    What is the profit (in ₹)?
12. 12.📒 Income or expense: tutoring fees received? (a) expense (b) income
13. 13.Diya’s stall took in ₹50 on Friday, ₹330 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
14. 14.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) no reason (d) to fill a notebook
15. 15.Nisha’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹140 (stall fee)
    Expense: ₹180 (paper cups)
    What is the profit (in ₹)?
16. 16.True or false: “money from sales” is income (money in). (a) True (b) False
17. 17.True or false: “buying lemons” is income (money in). (a) False (b) True
18. 18.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
19. 19.📒 Income or expense: buying paper cups? (a) expense (b) income
20. 20.Nisha’s stall took in ₹310 on Friday, ₹400 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
21. 21.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
22. 22.True or false: “printing posters” is income (money in). (a) True (b) False
23. 23.Ishaan’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹60 (posters)
    Expense: ₹90 (lemons)
    What is the profit (in ₹)?
24. 24.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) a card order paid (d) buying lemons
25. 25.📒 Income or expense: paying the stall fee? (a) income (b) expense
26. 26.True or false: “bus fare to the market” is income (money in). (a) False (b) True
27. 27.Gurpreet’s income was ₹150 and the profit was ₹50. One expense was ₹50 (transport). How much was the other expense, for card paper (in ₹)?
28. 28.📒 Income or expense: buying lemons? (a) income (b) expense
29. 29.Meera’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹20 (stall fee)
    Expense: ₹60 (posters)
    How much is the loss (in ₹)?
30. 30.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) buying lemons (d) payment for a cake order
31. 31.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) payment for a cake order (d) bus fare to the market
32. 32.Which of these is income (money in)? (a) tutoring fees received (b) printing posters (c) buying lemons (d) paying the stall fee
33. 33.Ishaan’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹20 (transport)
    Expense: ₹90 (stall fee)
    What is the profit (in ₹)?
34. 34.Dev’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹140 (posters)
    Expense: ₹20 (ribbon)
    What is the profit (in ₹)?
35. 35.Diya’s stall took in ₹240 on Friday, ₹90 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
36. 36.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
37. 37.True or false: “a card order paid” is an expense (money out). (a) False (b) True
38. 38.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) printing posters (d) a card order paid
39. 39.Farhan’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹50 (stall fee)
    Expense: ₹290 (ribbon)
    How much is the loss (in ₹)?
40. 40.True or false: “cash from selling plants” is income (money in). (a) False (b) True

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