Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 724 · 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 an expense (money out)? (a) a card order paid (b) tutoring fees received (c) paying the stall fee (d) money from sales
2. 2.Riya’s stall took in ₹300 on Friday, ₹350 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
3. 3.Aarav’s stall took in ₹370 on Friday, ₹390 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
4. 4.📅 When is the best time to update your records? (a) once a year (b) the same day (c) whenever you like (d) never
5. 5.Tara’s income was ₹280 and the profit was ₹140. One expense was ₹30 (transport). How much was the other expense, for stall fee (in ₹)?
6. 6.Kavya’s record for a rainy day:
   Income: ₹230 (sales)
   Expense: ₹80 (card paper)
   Expense: ₹210 (transport)
   How much is the loss (in ₹)?
7. 7.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) to look busy (d) no reason
8. 8.Ishaan’s record for the day:
   Income: ₹190 (morning sales)
   Income: ₹180 (evening sales)
   Expense: ₹60 (stall fee)
   Expense: ₹80 (paper cups)
   What is the profit (in ₹)?
9. 9.📒 Income or expense: bus fare to the market? (a) expense (b) income
10. 10.📒 Income or expense: money from sales? (a) expense (b) income
11. 11.➖ Profit in your records = (a) expenses − income (b) just the income (c) income + expenses (d) income − expenses
12. 12.Aarav’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹140 (ribbon)
    Expense: ₹50 (lemons)
    What is the profit (in ₹)?
13. 13.📒 Income or expense: cash from selling plants? (a) expense (b) income
14. 14.Zoya’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹290 (ribbon)
    Expense: ₹10 (posters)
    How much is the loss (in ₹)?
15. 15.Joseph’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹200 (ribbon)
    Expense: ₹60 (stall fee)
    What is the profit (in ₹)?
16. 16.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) buying paper cups (d) a card order paid
17. 17.Diya’s income was ₹310 and the profit was ₹140. One expense was ₹80 (stall fee). How much was the other expense, for ribbon (in ₹)?
18. 18.Zoya’s stall took in ₹140 on Friday, ₹310 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
19. 19.📒 Income or expense: buying lemons? (a) income (b) expense
20. 20.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
21. 21.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) money from sales (d) buying lemons
22. 22.Meera’s stall took in ₹360 on Friday, ₹350 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
23. 23.Which of these is income (money in)? (a) tutoring fees received (b) buying paper cups (c) buying lemons (d) paying the stall fee
24. 24.Nisha’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹60 (posters)
    Expense: ₹210 (card paper)
    How much is the loss (in ₹)?
25. 25.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
26. 26.Zoya’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹60 (card paper)
    Expense: ₹70 (transport)
    How much is the loss (in ₹)?
27. 27.Kabir’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹170 (paper cups)
    What is the profit (in ₹)?
28. 28.Rohan’s income was ₹210 and the profit was ₹10. One expense was ₹160 (sugar). How much was the other expense, for transport (in ₹)?
29. 29.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
30. 30.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) buying lemons (d) payment for a cake order
31. 31.Vihaan’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹10 (stall fee)
    Expense: ₹270 (lemons)
    How much is the loss (in ₹)?
32. 32.Which of these is income (money in)? (a) cash from selling plants (b) printing posters (c) buying lemons (d) paying the stall fee
33. 33.Gurpreet’s income was ₹500 and the profit was ₹260. One expense was ₹190 (transport). How much was the other expense, for ribbon (in ₹)?
34. 34.Ishaan’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹150 (paper cups)
    Expense: ₹80 (lemons)
    What is the profit (in ₹)?
35. 35.True or false: “buying lemons” is income (money in). (a) True (b) False
36. 36.📒 Income or expense: printing posters? (a) expense (b) income
37. 37.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) buying paper cups (d) money from sales
38. 38.Rohan’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹120 (transport)
    Expense: ₹200 (ribbon)
    What is the profit (in ₹)?
39. 39.Meera’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹100 (stall fee)
    Expense: ₹20 (card paper)
    What is the profit (in ₹)?
40. 40.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) money from sales (d) printing posters

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