Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 67 · 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: buying paper cups? (a) income (b) expense
2. 2.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) no reason (d) to look busy
3. 3.Which of these is an expense (money out)? (a) printing posters (b) cash from selling plants (c) tutoring fees received (d) payment for a cake order
4. 4.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) the bill or receipt (d) nothing
5. 5.Ananya’s stall took in ₹240 on Friday, ₹370 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
6. 6.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
7. 7.📒 Income or expense: payment for a cake order? (a) expense (b) income
8. 8.Arjun’s stall took in ₹290 on Friday, ₹280 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
9. 9.📒 Income or expense: paying the stall fee? (a) income (b) expense
10. 10.Saanvi’s stall took in ₹150 on Friday, ₹190 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
11. 11.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
12. 12.Which of these is an expense (money out)? (a) cash from selling plants (b) bus fare to the market (c) a card order paid (d) money from sales
13. 13.Ishaan’s income was ₹200 and the profit was ₹30. One expense was ₹150 (paper cups). How much was the other expense, for card paper (in ₹)?
14. 14.Which of these is income (money in)? (a) printing posters (b) cash from selling plants (c) paying the stall fee (d) bus fare to the market
15. 15.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) payment for a cake order (d) paying the stall fee
16. 16.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
17. 17.True or false: “cash from selling plants” is income (money in). (a) False (b) True
18. 18.Ishaan’s income was ₹100 and the profit was ₹80. One expense was ₹10 (stall fee). How much was the other expense, for sugar (in ₹)?
19. 19.Vihaan’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹50 (paper cups)
    Expense: ₹140 (lemons)
    How much is the loss (in ₹)?
20. 20.📒 Income or expense: bus fare to the market? (a) expense (b) income
21. 21.Aarav’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹50 (stall fee)
    Expense: ₹180 (posters)
    How much is the loss (in ₹)?
22. 22.Zoya’s stall took in ₹210 on Friday, ₹390 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
23. 23.Nisha’s income was ₹230 and the profit was ₹100. One expense was ₹100 (posters). How much was the other expense, for sugar (in ₹)?
24. 24.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) tutoring fees received (d) bus fare to the market
25. 25.Zoya’s income was ₹270 and the profit was ₹40. One expense was ₹30 (transport). How much was the other expense, for sugar (in ₹)?
26. 26.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
27. 27.Joseph’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹40 (paper cups)
    Expense: ₹20 (posters)
    What is the profit (in ₹)?
28. 28.Joseph’s income was ₹100 and the profit was ₹30. One expense was ₹50 (paper cups). How much was the other expense, for transport (in ₹)?
29. 29.➖ Profit in your records = (a) expenses − income (b) just the income (c) income + expenses (d) income − expenses
30. 30.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
31. 31.True or false: “tutoring fees received” is income (money in). (a) False (b) True
32. 32.Saanvi’s income was ₹280 and the profit was ₹230. One expense was ₹30 (paper cups). How much was the other expense, for lemons (in ₹)?
33. 33.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
34. 34.Tara’s income was ₹240 and the profit was ₹100. One expense was ₹30 (lemons). How much was the other expense, for ribbon (in ₹)?
35. 35.📒 Income or expense: printing posters? (a) income (b) expense
36. 36.Joseph’s stall took in ₹120 on Friday, ₹390 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
37. 37.Kabir’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹90 (stall fee)
    How much is the loss (in ₹)?
38. 38.Kavya’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹10 (stall fee)
    Expense: ₹140 (lemons)
    How much is the loss (in ₹)?
39. 39.📒 Income or expense: cash from selling plants? (a) income (b) expense
40. 40.Meera’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹20 (card paper)
    Expense: ₹40 (posters)
    What is the profit (in ₹)?

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