Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 763 · 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) money from sales (b) cash from selling plants (c) tutoring fees received (d) paying the stall fee
2. 2.Gurpreet’s stall took in ₹300 on Friday, ₹340 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
3. 3.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) the bill or receipt (d) a selfie
4. 4.True or false: “money from sales” is income (money in). (a) True (b) False
5. 5.Which of these is income (money in)? (a) buying paper cups (b) a card order paid (c) bus fare to the market (d) printing posters
6. 6.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) once a year (d) never
7. 7.Kavya’s record for a rainy day:
   Income: ₹130 (sales)
   Expense: ₹60 (stall fee)
   Expense: ₹100 (paper cups)
   How much is the loss (in ₹)?
8. 8.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) no reason (d) to know the real profit
9. 9.Aarav’s record for the day:
   Income: ₹60 (morning sales)
   Income: ₹200 (evening sales)
   Expense: ₹70 (lemons)
   Expense: ₹130 (transport)
   What is the profit (in ₹)?
10. 10.📒 Income or expense: buying paper cups? (a) income (b) expense
11. 11.📒 Income or expense: paying the stall fee? (a) income (b) expense
12. 12.Meera’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹80 (stall fee)
    Expense: ₹80 (paper cups)
    How much is the loss (in ₹)?
13. 13.Saanvi’s income was ₹370 and the profit was ₹230. One expense was ₹40 (transport). How much was the other expense, for ribbon (in ₹)?
14. 14.Aarav’s stall took in ₹70 on Friday, ₹290 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
15. 15.True or false: “cash from selling plants” is income (money in). (a) True (b) False
16. 16.Tara’s income was ₹190 and the profit was ₹150. One expense was ₹20 (sugar). How much was the other expense, for posters (in ₹)?
17. 17.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
18. 18.True or false: “a card order paid” is income (money in). (a) True (b) False
19. 19.Riya’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹380 (evening sales)
    Expense: ₹80 (card paper)
    Expense: ₹110 (stall fee)
    What is the profit (in ₹)?
20. 20.Saanvi’s income was ₹310 and the profit was ₹150. One expense was ₹110 (posters). How much was the other expense, for stall fee (in ₹)?
21. 21.➖ Profit in your records = (a) income − expenses (b) just the income (c) income + expenses (d) expenses − income
22. 22.Gurpreet’s income was ₹180 and the profit was ₹20. One expense was ₹90 (paper cups). How much was the other expense, for card paper (in ₹)?
23. 23.Kabir’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹20 (card paper)
    Expense: ₹170 (sugar)
    How much is the loss (in ₹)?
24. 24.Gurpreet’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹260 (paper cups)
    Expense: ₹90 (lemons)
    How much is the loss (in ₹)?
25. 25.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) printing posters (d) money from sales
26. 26.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) tutoring fees received (d) printing posters
27. 27.Ishaan’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹30 (lemons)
    Expense: ₹30 (posters)
    What is the profit (in ₹)?
28. 28.📒 Income or expense: money from sales? (a) income (b) expense
29. 29.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) printing posters (d) money from sales
30. 30.Ishaan’s stall took in ₹350 on Friday, ₹160 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
31. 31.📒 Income or expense: a card order paid? (a) income (b) expense
32. 32.Gurpreet’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹100 (posters)
    Expense: ₹100 (paper cups)
    How much is the loss (in ₹)?
33. 33.Ananya’s record for the day:
    Income: ₹350 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹190 (paper cups)
    Expense: ₹180 (lemons)
    What is the profit (in ₹)?
34. 34.Lakshmi’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹110 (transport)
    How much is the loss (in ₹)?
35. 35.True or false: “money from sales” is an expense (money out). (a) False (b) True
36. 36.Which of these is income (money in)? (a) buying lemons (b) payment for a cake order (c) buying paper cups (d) printing posters
37. 37.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
38. 38.Saanvi’s stall took in ₹160 on Friday, ₹100 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
39. 39.Rohan’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹70 (stall fee)
    Expense: ₹60 (card paper)
    How much is the loss (in ₹)?
40. 40.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) cash from selling plants (d) buying paper cups

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