Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 760 · 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) cash from selling plants (b) tutoring fees received (c) payment for a cake order (d) bus fare to the market
2. 2.Zoya’s record for the day:
   Income: ₹120 (morning sales)
   Income: ₹200 (evening sales)
   Expense: ₹80 (paper cups)
   Expense: ₹50 (lemons)
   What is the profit (in ₹)?
3. 3.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) a card order paid (d) printing posters
4. 4.📒 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
5. 5.Rohan’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹240 (evening sales)
   Expense: ₹70 (posters)
   Expense: ₹20 (paper cups)
   What is the profit (in ₹)?
6. 6.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
7. 7.Saanvi’s record for the day:
   Income: ₹60 (morning sales)
   Income: ₹250 (evening sales)
   Expense: ₹160 (stall fee)
   Expense: ₹30 (lemons)
   What is the profit (in ₹)?
8. 8.➖ Profit in your records = (a) income + expenses (b) just the income (c) income − expenses (d) expenses − income
9. 9.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) buying paper cups (d) payment for a cake order
10. 10.Gurpreet’s income was ₹250 and the profit was ₹80. One expense was ₹70 (paper cups). How much was the other expense, for stall fee (in ₹)?
11. 11.Which of these is an expense (money out)? (a) tutoring fees received (b) buying lemons (c) money from sales (d) cash from selling plants
12. 12.📅 When is the best time to update your records? (a) once a year (b) never (c) the same day (d) whenever you like
13. 13.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) bus fare to the market (d) payment for a cake order
14. 14.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) bus fare to the market (d) money from sales
15. 15.Tara’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹400 (evening sales)
    Expense: ₹30 (ribbon)
    Expense: ₹150 (transport)
    What is the profit (in ₹)?
16. 16.📒 Income or expense: tutoring fees received? (a) income (b) expense
17. 17.📒 Income or expense: bus fare to the market? (a) expense (b) income
18. 18.Tara’s income was ₹450 and the profit was ₹420. One expense was ₹10 (posters). How much was the other expense, for transport (in ₹)?
19. 19.Ishaan’s stall took in ₹70 on Friday, ₹50 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
20. 20.Nisha’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹60 (ribbon)
    Expense: ₹240 (paper cups)
    How much is the loss (in ₹)?
21. 21.Saanvi’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹200 (lemons)
    Expense: ₹130 (card paper)
    What is the profit (in ₹)?
22. 22.Aarav’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹70 (paper cups)
    Expense: ₹200 (transport)
    What is the profit (in ₹)?
23. 23.True or false: “a card order paid” is an expense (money out). (a) False (b) True
24. 24.Aarav’s stall took in ₹370 on Friday, ₹270 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
25. 25.📒 Income or expense: payment for a cake order? (a) expense (b) income
26. 26.Which of these is income (money in)? (a) bus fare to the market (b) tutoring fees received (c) paying the stall fee (d) printing posters
27. 27.Kabir’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹40 (posters)
    Expense: ₹80 (lemons)
    How much is the loss (in ₹)?
28. 28.Diya’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹30 (stall fee)
    Expense: ₹200 (sugar)
    How much is the loss (in ₹)?
29. 29.True or false: “money from sales” is an expense (money out). (a) False (b) True
30. 30.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
31. 31.True or false: “paying the stall fee” is income (money in). (a) True (b) False
32. 32.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
33. 33.📒 Income or expense: a card order paid? (a) expense (b) income
34. 34.Saanvi’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹110 (posters)
    Expense: ₹140 (lemons)
    How much is the loss (in ₹)?
35. 35.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) paying the stall fee (d) cash from selling plants
36. 36.Saanvi’s stall took in ₹300 on Friday, ₹220 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
37. 37.Kabir’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹90 (ribbon)
    Expense: ₹30 (stall fee)
    What is the profit (in ₹)?
38. 38.Ananya’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹200 (ribbon)
    Expense: ₹140 (lemons)
    What is the profit (in ₹)?
39. 39.True or false: “printing posters” is an expense (money out). (a) True (b) False
40. 40.Tara’s income was ₹300 and the profit was ₹240. One expense was ₹30 (ribbon). How much was the other expense, for stall fee (in ₹)?

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