Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 83 · 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) a card order paid (d) buying lemons
2. 2.Which of these is income (money in)? (a) a card order paid (b) bus fare to the market (c) paying the stall fee (d) buying paper cups
3. 3.Diya’s record for the day:
   Income: ₹60 (morning sales)
   Income: ₹60 (evening sales)
   Expense: ₹20 (transport)
   Expense: ₹30 (sugar)
   What is the profit (in ₹)?
4. 4.📒 Income or expense: paying the stall fee? (a) expense (b) income
5. 5.📒 Income or expense: buying paper cups? (a) expense (b) income
6. 6.Nisha’s record for the day:
   Income: ₹210 (morning sales)
   Income: ₹230 (evening sales)
   Expense: ₹160 (sugar)
   Expense: ₹100 (lemons)
   What is the profit (in ₹)?
7. 7.Riya’s stall took in ₹330 on Friday, ₹130 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
8. 8.True or false: “money from sales” is income (money in). (a) True (b) False
9. 9.Tara’s stall took in ₹260 on Friday, ₹240 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
10. 10.Meera’s income was ₹180 and the profit was ₹60. One expense was ₹50 (card paper). How much was the other expense, for sugar (in ₹)?
11. 11.Meera’s stall took in ₹380 on Friday, ₹190 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
12. 12.Ishaan’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹130 (sugar)
    Expense: ₹170 (transport)
    What is the profit (in ₹)?
13. 13.📒 Income or expense: printing posters? (a) expense (b) income
14. 14.📒 Income or expense: tutoring fees received? (a) expense (b) income
15. 15.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) nothing (d) only the bag
16. 16.Meera’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹180 (sugar)
    Expense: ₹10 (lemons)
    How much is the loss (in ₹)?
17. 17.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
18. 18.Joseph’s income was ₹480 and the profit was ₹450. One expense was ₹20 (ribbon). How much was the other expense, for sugar (in ₹)?
19. 19.📒 Income or expense: bus fare to the market? (a) income (b) expense
20. 20.Ishaan’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹90 (stall fee)
    Expense: ₹50 (card paper)
    What is the profit (in ₹)?
21. 21.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
22. 22.Tara’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹110 (stall fee)
    Expense: ₹80 (paper cups)
    What is the profit (in ₹)?
23. 23.True or false: “tutoring fees received” is income (money in). (a) True (b) False
24. 24.Saanvi’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹80 (transport)
    Expense: ₹110 (posters)
    What is the profit (in ₹)?
25. 25.Diya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹90 (card paper)
    Expense: ₹70 (stall fee)
    What is the profit (in ₹)?
26. 26.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
27. 27.Farhan’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹110 (lemons)
    Expense: ₹70 (stall fee)
    How much is the loss (in ₹)?
28. 28.📒 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
29. 29.Diya’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹120 (sugar)
    Expense: ₹30 (ribbon)
    What is the profit (in ₹)?
30. 30.Kabir’s stall took in ₹350 on Friday, ₹210 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
31. 31.Meera’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹60 (lemons)
    Expense: ₹40 (sugar)
    What is the profit (in ₹)?
32. 32.Aarav’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹50 (paper cups)
    Expense: ₹110 (ribbon)
    How much is the loss (in ₹)?
33. 33.Which of these is an expense (money out)? (a) a card order paid (b) bus fare to the market (c) payment for a cake order (d) money from sales
34. 34.True or false: “paying the stall fee” is income (money in). (a) False (b) True
35. 35.Arjun’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹50 (card paper)
    Expense: ₹150 (stall fee)
    What is the profit (in ₹)?
36. 36.📒 Income or expense: payment for a cake order? (a) income (b) expense
37. 37.📒 Income or expense: a card order paid? (a) expense (b) income
38. 38.Ananya’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹40 (lemons)
    Expense: ₹160 (paper cups)
    What is the profit (in ₹)?
39. 39.➖ Profit in your records = (a) just the income (b) expenses − income (c) income + expenses (d) income − expenses
40. 40.Ananya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹100 (stall fee)
    Expense: ₹30 (ribbon)
    What is the profit (in ₹)?

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