Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 704 · 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.Ananya’s stall took in ₹170 on Friday, ₹310 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
2. 2.True or false: “money from sales” is an expense (money out). (a) False (b) True
3. 3.➖ Profit in your records = (a) income − expenses (b) income + expenses (c) just the income (d) expenses − income
4. 4.Diya’s record for a rainy day:
   Income: ₹300 (sales)
   Expense: ₹60 (stall fee)
   Expense: ₹320 (posters)
   How much is the loss (in ₹)?
5. 5.True or false: “printing posters” is income (money in). (a) True (b) False
6. 6.Rohan’s record for the day:
   Income: ₹150 (morning sales)
   Income: ₹260 (evening sales)
   Expense: ₹50 (lemons)
   Expense: ₹110 (paper cups)
   What is the profit (in ₹)?
7. 7.Which of these is an expense (money out)? (a) paying the stall fee (b) money from sales (c) tutoring fees received (d) cash from selling plants
8. 8.True or false: “bus fare to the market” is income (money in). (a) False (b) True
9. 9.Ishaan’s record for the day:
   Income: ₹30 (morning sales)
   Income: ₹320 (evening sales)
   Expense: ₹130 (ribbon)
   Expense: ₹130 (transport)
   What is the profit (in ₹)?
10. 10.📒 Income or expense: buying paper cups? (a) expense (b) income
11. 11.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
12. 12.Aarav’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹20 (sugar)
    Expense: ₹100 (paper cups)
    How much is the loss (in ₹)?
13. 13.Tara’s income was ₹140 and the profit was ₹70. One expense was ₹30 (paper cups). How much was the other expense, for ribbon (in ₹)?
14. 14.Which of these is income (money in)? (a) tutoring fees received (b) paying the stall fee (c) buying lemons (d) printing posters
15. 15.Tara’s income was ₹320 and the profit was ₹230. One expense was ₹10 (card paper). How much was the other expense, for stall fee (in ₹)?
16. 16.Which of these is income (money in)? (a) paying the stall fee (b) money from sales (c) buying lemons (d) printing posters
17. 17.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) a card order paid (d) buying lemons
18. 18.Rohan’s record for the day:
    Income: ₹360 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹70 (transport)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
19. 19.Lakshmi’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹10 (ribbon)
    Expense: ₹170 (posters)
    How much is the loss (in ₹)?
20. 20.📅 When is the best time to update your records? (a) the same day (b) never (c) once a year (d) whenever you like
21. 21.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) no reason (d) to know the real profit
22. 22.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
23. 23.📒 Income or expense: money from sales? (a) expense (b) income
24. 24.Farhan’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹160 (stall fee)
    Expense: ₹70 (card paper)
    What is the profit (in ₹)?
25. 25.Which of these is income (money in)? (a) payment for a cake order (b) bus fare to the market (c) buying lemons (d) printing posters
26. 26.Nisha’s stall took in ₹80 on Friday, ₹190 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
27. 27.Diya’s stall took in ₹360 on Friday, ₹140 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
28. 28.Saanvi’s stall took in ₹170 on Friday, ₹80 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
29. 29.📒 Income or expense: printing posters? (a) income (b) expense
30. 30.📒 Income or expense: bus fare to the market? (a) income (b) expense
31. 31.Joseph’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹490 (evening sales)
    Expense: ₹120 (transport)
    Expense: ₹90 (lemons)
    What is the profit (in ₹)?
32. 32.Diya’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹80 (paper cups)
    Expense: ₹150 (transport)
    How much is the loss (in ₹)?
33. 33.True or false: “money from sales” is income (money in). (a) False (b) True
34. 34.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) a card order paid (d) buying lemons
35. 35.Diya’s income was ₹450 and the profit was ₹340. One expense was ₹60 (paper cups). How much was the other expense, for transport (in ₹)?
36. 36.True or false: “printing posters” is an expense (money out). (a) True (b) False
37. 37.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) the bill or receipt (d) nothing
38. 38.📒 Income or expense: tutoring fees received? (a) income (b) expense
39. 39.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
40. 40.📒 Income or expense: cash from selling plants? (a) expense (b) income

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