Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 839 · 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) just the income (b) expenses − income (c) income + expenses (d) income − expenses
2. 2.Saanvi’s record for the day:
   Income: ₹200 (morning sales)
   Income: ₹400 (evening sales)
   Expense: ₹120 (ribbon)
   Expense: ₹200 (lemons)
   What is the profit (in ₹)?
3. 3.True or false: “paying the stall fee” is income (money in). (a) True (b) False
4. 4.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) cash from selling plants (d) printing posters
5. 5.Arjun’s stall took in ₹220 on Friday, ₹170 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
6. 6.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
7. 7.Rohan’s income was ₹390 and the profit was ₹100. One expense was ₹10 (paper cups). How much was the other expense, for posters (in ₹)?
8. 8.Which of these is an expense (money out)? (a) buying lemons (b) cash from selling plants (c) tutoring fees received (d) money from sales
9. 9.True or false: “bus fare to the market” is income (money in). (a) True (b) False
10. 10.Saanvi’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹160 (paper cups)
    Expense: ₹80 (card paper)
    How much is the loss (in ₹)?
11. 11.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) paying the stall fee (d) tutoring fees received
12. 12.Meera’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹20 (card paper)
    Expense: ₹130 (lemons)
    How much is the loss (in ₹)?
13. 13.Rohan’s stall took in ₹320 on Friday, ₹400 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
14. 14.Ananya’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹200 (paper cups)
    Expense: ₹50 (card paper)
    What is the profit (in ₹)?
15. 15.Kavya’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹200 (stall fee)
    Expense: ₹60 (lemons)
    How much is the loss (in ₹)?
16. 16.Which of these is an expense (money out)? (a) money from sales (b) buying paper cups (c) a card order paid (d) tutoring fees received
17. 17.True or false: “a card order paid” is income (money in). (a) False (b) True
18. 18.Tara’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹40 (transport)
    Expense: ₹120 (sugar)
    How much is the loss (in ₹)?
19. 19.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) no reason (d) to look busy
20. 20.📒 Income or expense: cash from selling plants? (a) income (b) expense
21. 21.📅 When is the best time to update your records? (a) never (b) whenever you like (c) once a year (d) the same day
22. 22.Meera’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹160 (paper cups)
    Expense: ₹220 (transport)
    How much is the loss (in ₹)?
23. 23.Kavya’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹150 (posters)
    Expense: ₹140 (transport)
    What is the profit (in ₹)?
24. 24.Ananya’s income was ₹450 and the profit was ₹240. One expense was ₹120 (stall fee). How much was the other expense, for paper cups (in ₹)?
25. 25.Arjun’s income was ₹210 and the profit was ₹50. One expense was ₹150 (transport). How much was the other expense, for lemons (in ₹)?
26. 26.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) only the bag (d) nothing
27. 27.Kavya’s stall took in ₹400 on Friday, ₹300 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
28. 28.Ananya’s stall took in ₹120 on Friday, ₹330 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
29. 29.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) a card order paid (d) paying the stall fee
30. 30.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
31. 31.Gurpreet’s stall took in ₹130 on Friday, ₹200 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
32. 32.📒 Income or expense: printing posters? (a) expense (b) income
33. 33.Zoya’s stall took in ₹230 on Friday, ₹370 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
34. 34.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) buying paper cups (d) tutoring fees received
35. 35.📒 Income or expense: bus fare to the market? (a) expense (b) income
36. 36.True or false: “buying lemons” is income (money in). (a) True (b) False
37. 37.📒 Income or expense: buying lemons? (a) expense (b) income
38. 38.True or false: “money from sales” is income (money in). (a) False (b) True
39. 39.📒 Income or expense: paying the stall fee? (a) income (b) expense
40. 40.True or false: “buying lemons” is an expense (money out). (a) True (b) False

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