Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 787 · 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.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) expenses − income (d) just the income
2. 2.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) paying the stall fee (d) cash from selling plants
3. 3.📒 Income or expense: buying lemons? (a) income (b) expense
4. 4.📒 Income or expense: payment for a cake order? (a) expense (b) income
5. 5.📒 Income or expense: buying paper cups? (a) expense (b) income
6. 6.Rohan’s record for a rainy day:
   Income: ₹110 (sales)
   Expense: ₹130 (paper cups)
   Expense: ₹20 (ribbon)
   How much is the loss (in ₹)?
7. 7.Saanvi’s record for a rainy day:
   Income: ₹210 (sales)
   Expense: ₹80 (ribbon)
   Expense: ₹200 (paper cups)
   How much is the loss (in ₹)?
8. 8.📒 Income or expense: a card order paid? (a) expense (b) income
9. 9.📒 Income or expense: cash from selling plants? (a) income (b) expense
10. 10.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) to fill a notebook (d) no reason
11. 11.Saanvi’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹60 (lemons)
    Expense: ₹40 (ribbon)
    What is the profit (in ₹)?
12. 12.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
13. 13.Saanvi’s stall took in ₹170 on Friday, ₹80 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
14. 14.Which of these is income (money in)? (a) tutoring fees received (b) printing posters (c) buying paper cups (d) bus fare to the market
15. 15.True or false: “cash from selling plants” is income (money in). (a) False (b) True
16. 16.Aarav’s income was ₹500 and the profit was ₹400. One expense was ₹20 (paper cups). How much was the other expense, for stall fee (in ₹)?
17. 17.Joseph’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹190 (stall fee)
    Expense: ₹150 (card paper)
    What is the profit (in ₹)?
18. 18.Which of these is income (money in)? (a) a card order paid (b) bus fare to the market (c) buying paper cups (d) printing posters
19. 19.Rohan’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹30 (stall fee)
    Expense: ₹140 (paper cups)
    How much is the loss (in ₹)?
20. 20.Lakshmi’s record for the day:
    Income: ₹360 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹70 (stall fee)
    Expense: ₹170 (card paper)
    What is the profit (in ₹)?
21. 21.Farhan’s income was ₹190 and the profit was ₹90. One expense was ₹70 (card paper). How much was the other expense, for paper cups (in ₹)?
22. 22.Nisha’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹270 (ribbon)
    Expense: ₹10 (transport)
    How much is the loss (in ₹)?
23. 23.Gurpreet’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹90 (ribbon)
    Expense: ₹100 (card paper)
    How much is the loss (in ₹)?
24. 24.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) nothing (d) only the bag
25. 25.Gurpreet’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹110 (sugar)
    Expense: ₹110 (paper cups)
    What is the profit (in ₹)?
26. 26.📅 When is the best time to update your records? (a) once a year (b) never (c) the same day (d) whenever you like
27. 27.Diya’s stall took in ₹220 on Friday, ₹370 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
28. 28.📒 Income or expense: printing posters? (a) income (b) expense
29. 29.Gurpreet’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹20 (posters)
    Expense: ₹40 (transport)
    What is the profit (in ₹)?
30. 30.Gurpreet’s stall took in ₹110 on Friday, ₹100 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
31. 31.True or false: “printing posters” is an expense (money out). (a) False (b) True
32. 32.📒 Income or expense: tutoring fees received? (a) expense (b) income
33. 33.True or false: “printing posters” is income (money in). (a) True (b) False
34. 34.True or false: “a card order paid” is income (money in). (a) False (b) True
35. 35.Ananya’s stall took in ₹160 on Friday, ₹300 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
36. 36.Zoya’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹30 (transport)
    Expense: ₹230 (sugar)
    How much is the loss (in ₹)?
37. 37.Which of these is an expense (money out)? (a) money from sales (b) bus fare to the market (c) payment for a cake order (d) a card order paid
38. 38.Saanvi’s income was ₹430 and the profit was ₹330. One expense was ₹50 (sugar). How much was the other expense, for lemons (in ₹)?
39. 39.Diya’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹90 (paper cups)
    Expense: ₹100 (ribbon)
    What is the profit (in ₹)?
40. 40.Rohan’s income was ₹480 and the profit was ₹360. One expense was ₹90 (sugar). How much was the other expense, for stall fee (in ₹)?

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