Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 759 · 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.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
2. 2.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) the bill or receipt (d) a selfie
3. 3.Which of these is income (money in)? (a) paying the stall fee (b) a card order paid (c) buying paper cups (d) buying lemons
4. 4.Ananya’s stall took in ₹300 on Friday, ₹320 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
5. 5.📅 When is the best time to update your records? (a) the same day (b) once a year (c) never (d) whenever you like
6. 6.Meera’s stall took in ₹60 on Friday, ₹210 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
7. 7.Lakshmi’s stall took in ₹400 on Friday, ₹290 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
8. 8.Kabir’s income was ₹110 and the profit was ₹20. One expense was ₹30 (stall fee). How much was the other expense, for transport (in ₹)?
9. 9.Vihaan’s record for the day:
   Income: ₹90 (morning sales)
   Income: ₹120 (evening sales)
   Expense: ₹70 (sugar)
   Expense: ₹60 (ribbon)
   What is the profit (in ₹)?
10. 10.📒 Income or expense: payment for a cake order? (a) income (b) expense
11. 11.Rohan’s stall took in ₹400 on Friday, ₹130 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
12. 12.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) buying lemons (d) tutoring fees received
13. 13.Joseph’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹160 (card paper)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
14. 14.True or false: “buying paper cups” is income (money in). (a) True (b) False
15. 15.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to know the real profit (d) to fill a notebook
16. 16.Gurpreet’s stall took in ₹310 on Friday, ₹130 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
17. 17.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) payment for a cake order (d) buying lemons
18. 18.Arjun’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹90 (transport)
    Expense: ₹60 (lemons)
    What is the profit (in ₹)?
19. 19.Ananya’s record for the day:
    Income: ₹370 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹190 (paper cups)
    Expense: ₹120 (stall fee)
    What is the profit (in ₹)?
20. 20.Tara’s income was ₹110 and the profit was ₹60. One expense was ₹10 (stall fee). How much was the other expense, for card paper (in ₹)?
21. 21.Diya’s income was ₹300 and the profit was ₹180. One expense was ₹70 (posters). How much was the other expense, for paper cups (in ₹)?
22. 22.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
23. 23.➖ Profit in your records = (a) income − expenses (b) just the income (c) income + expenses (d) expenses − income
24. 24.Ishaan’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹40 (sugar)
    Expense: ₹50 (lemons)
    What is the profit (in ₹)?
25. 25.True or false: “payment for a cake order” is income (money in). (a) True (b) False
26. 26.📒 Income or expense: bus fare to the market? (a) income (b) expense
27. 27.Ishaan’s stall took in ₹260 on Friday, ₹50 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
28. 28.Kabir’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹80 (ribbon)
    Expense: ₹30 (lemons)
    How much is the loss (in ₹)?
29. 29.True or false: “buying lemons” is an expense (money out). (a) False (b) True
30. 30.📒 Income or expense: tutoring fees received? (a) income (b) expense
31. 31.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
32. 32.Ananya’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹160 (sugar)
    Expense: ₹50 (card paper)
    What is the profit (in ₹)?
33. 33.📒 Income or expense: a card order paid? (a) expense (b) income
34. 34.📒 Income or expense: buying lemons? (a) expense (b) income
35. 35.Kabir’s income was ₹140 and the profit was ₹110. One expense was ₹10 (card paper). How much was the other expense, for paper cups (in ₹)?
36. 36.Saanvi’s stall took in ₹140 on Friday, ₹90 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
37. 37.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) tutoring fees received (d) buying lemons
38. 38.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) money from sales (d) printing posters
39. 39.Rohan’s stall took in ₹320 on Friday, ₹90 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
40. 40.📒 Income or expense: printing posters? (a) expense (b) income

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