Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 739 · 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) paying the stall fee (b) tutoring fees received (c) payment for a cake order (d) money from sales
2. 2.Rohan’s stall took in ₹90 on Friday, ₹370 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
3. 3.Arjun’s stall took in ₹130 on Friday, ₹240 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
4. 4.➖ Profit in your records = (a) just the income (b) expenses − income (c) income − expenses (d) income + expenses
5. 5.True or false: “money from sales” is income (money in). (a) True (b) False
6. 6.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) buying lemons (d) money from sales
7. 7.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to fill a notebook (d) to know the real profit
8. 8.True or false: “bus fare to the market” is income (money in). (a) True (b) False
9. 9.Farhan’s income was ₹500 and the profit was ₹50. One expense was ₹420 (lemons). How much was the other expense, for ribbon (in ₹)?
10. 10.Zoya’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹110 (ribbon)
    Expense: ₹90 (paper cups)
    What is the profit (in ₹)?
11. 11.📒 Income or expense: printing posters? (a) expense (b) income
12. 12.Meera’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹490 (evening sales)
    Expense: ₹170 (sugar)
    Expense: ₹100 (stall fee)
    What is the profit (in ₹)?
13. 13.Saanvi’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹420 (evening sales)
    Expense: ₹140 (lemons)
    Expense: ₹150 (stall fee)
    What is the profit (in ₹)?
14. 14.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) payment for a cake order (d) paying the stall fee
15. 15.Lakshmi’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹200 (ribbon)
    Expense: ₹40 (lemons)
    What is the profit (in ₹)?
16. 16.Which of these is income (money in)? (a) paying the stall fee (b) cash from selling plants (c) printing posters (d) buying lemons
17. 17.Ananya’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹140 (paper cups)
    Expense: ₹160 (card paper)
    What is the profit (in ₹)?
18. 18.True or false: “buying lemons” is an expense (money out). (a) True (b) False
19. 19.📒 Income or expense: paying the stall fee? (a) expense (b) income
20. 20.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) only the bag (d) a selfie
21. 21.Kavya’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹80 (lemons)
    Expense: ₹10 (posters)
    How much is the loss (in ₹)?
22. 22.Diya’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹160 (sugar)
    Expense: ₹50 (paper cups)
    How much is the loss (in ₹)?
23. 23.Kabir’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹170 (posters)
    Expense: ₹70 (lemons)
    What is the profit (in ₹)?
24. 24.📒 Income or expense: money from sales? (a) income (b) expense
25. 25.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) bus fare to the market (d) payment for a cake order
26. 26.Meera’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹300 (transport)
    Expense: ₹20 (stall fee)
    How much is the loss (in ₹)?
27. 27.True or false: “a card order paid” is income (money in). (a) False (b) True
28. 28.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) money from sales (d) printing posters
29. 29.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) buying lemons (d) a card order paid
30. 30.Dev’s income was ₹370 and the profit was ₹120. One expense was ₹40 (lemons). How much was the other expense, for paper cups (in ₹)?
31. 31.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
32. 32.True or false: “paying the stall fee” is income (money in). (a) True (b) False
33. 33.Rohan’s stall took in ₹330 on Friday, ₹140 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
34. 34.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
35. 35.Tara’s stall took in ₹200 on Friday, ₹320 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
36. 36.Meera’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹70 (stall fee)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?
37. 37.Riya’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹170 (card paper)
    Expense: ₹120 (posters)
    How much is the loss (in ₹)?
38. 38.True or false: “buying lemons” is income (money in). (a) False (b) True
39. 39.Aarav’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹150 (ribbon)
    Expense: ₹80 (transport)
    What is the profit (in ₹)?
40. 40.📒 Income or expense: payment for a cake order? (a) expense (b) income

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