Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 74 · 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.Tara’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹200 (evening sales)
   Expense: ₹60 (paper cups)
   Expense: ₹50 (lemons)
   What is the profit (in ₹)?
2. 2.📒 Income or expense: buying lemons? (a) income (b) expense
3. 3.Diya’s income was ₹490 and the profit was ₹390. One expense was ₹10 (lemons). How much was the other expense, for transport (in ₹)?
4. 4.Which of these is an expense (money out)? (a) a card order paid (b) paying the stall fee (c) cash from selling plants (d) payment for a cake order
5. 5.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) buying paper cups (d) cash from selling plants
6. 6.Which of these is income (money in)? (a) bus fare to the market (b) money from sales (c) printing posters (d) buying paper cups
7. 7.Lakshmi’s record for the day:
   Income: ₹70 (morning sales)
   Income: ₹80 (evening sales)
   Expense: ₹90 (card paper)
   Expense: ₹20 (paper cups)
   What is the profit (in ₹)?
8. 8.Meera’s record for a rainy day:
   Income: ₹140 (sales)
   Expense: ₹70 (lemons)
   Expense: ₹140 (ribbon)
   How much is the loss (in ₹)?
9. 9.Nisha’s record for a rainy day:
   Income: ₹190 (sales)
   Expense: ₹190 (card paper)
   Expense: ₹100 (sugar)
   How much is the loss (in ₹)?
10. 10.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) to look busy (d) no reason
11. 11.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
12. 12.Gurpreet’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹90 (transport)
    Expense: ₹80 (posters)
    How much is the loss (in ₹)?
13. 13.True or false: “bus fare to the market” is income (money in). (a) True (b) False
14. 14.Dev’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹70 (transport)
    Expense: ₹210 (posters)
    How much is the loss (in ₹)?
15. 15.True or false: “cash from selling plants” is income (money in). (a) False (b) True
16. 16.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) a selfie (d) the bill or receipt
17. 17.Which of these is an expense (money out)? (a) bus fare to the market (b) money from sales (c) tutoring fees received (d) a card order paid
18. 18.Gurpreet’s stall took in ₹160 on Friday, ₹380 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
19. 19.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
20. 20.Meera’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹110 (transport)
    What is the profit (in ₹)?
21. 21.True or false: “money from sales” is an expense (money out). (a) False (b) True
22. 22.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) paying the stall fee (d) payment for a cake order
23. 23.True or false: “buying lemons” is income (money in). (a) False (b) True
24. 24.Ananya’s income was ₹150 and the profit was ₹80. One expense was ₹50 (card paper). How much was the other expense, for transport (in ₹)?
25. 25.Zoya’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹40 (card paper)
    Expense: ₹170 (stall fee)
    What is the profit (in ₹)?
26. 26.True or false: “a card order paid” is an expense (money out). (a) True (b) False
27. 27.Riya’s stall took in ₹220 on Friday, ₹70 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
28. 28.📒 Income or expense: tutoring fees received? (a) income (b) expense
29. 29.True or false: “paying the stall fee” is income (money in). (a) True (b) False
30. 30.📒 Income or expense: bus fare to the market? (a) income (b) expense
31. 31.Diya’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹100 (paper cups)
    Expense: ₹30 (card paper)
    How much is the loss (in ₹)?
32. 32.Diya’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹200 (lemons)
    Expense: ₹140 (transport)
    What is the profit (in ₹)?
33. 33.📒 Income or expense: a card order paid? (a) income (b) expense
34. 34.Kabir’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹170 (ribbon)
    Expense: ₹70 (posters)
    What is the profit (in ₹)?
35. 35.Arjun’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹180 (card paper)
    Expense: ₹90 (transport)
    What is the profit (in ₹)?
36. 36.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
37. 37.Which of these is an expense (money out)? (a) printing posters (b) payment for a cake order (c) tutoring fees received (d) cash from selling plants
38. 38.Aarav’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹50 (transport)
    Expense: ₹200 (ribbon)
    What is the profit (in ₹)?
39. 39.📅 When is the best time to update your records? (a) the same day (b) never (c) once a year (d) whenever you like
40. 40.True or false: “a card order paid” is income (money in). (a) False (b) True

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