Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 841 · 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.True or false: “paying the stall fee” is income (money in). (a) False (b) True
2. 2.Joseph’s record for the day:
   Income: ₹170 (morning sales)
   Income: ₹240 (evening sales)
   Expense: ₹120 (ribbon)
   Expense: ₹120 (paper cups)
   What is the profit (in ₹)?
3. 3.True or false: “payment for a cake order” is income (money in). (a) True (b) False
4. 4.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) to look busy (d) no reason
5. 5.True or false: “a card order paid” is income (money in). (a) False (b) True
6. 6.Which of these is an expense (money out)? (a) bus fare to the market (b) a card order paid (c) money from sales (d) payment for a cake order
7. 7.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) the bill or receipt (d) a selfie
8. 8.Zoya’s stall took in ₹80 on Friday, ₹310 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
9. 9.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) paying the stall fee (d) money from sales
10. 10.Saanvi’s record for the day:
    Income: ₹500 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹180 (stall fee)
    Expense: ₹90 (lemons)
    What is the profit (in ₹)?
11. 11.📒 Income or expense: buying lemons? (a) expense (b) income
12. 12.Kabir’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹180 (ribbon)
    Expense: ₹50 (transport)
    What is the profit (in ₹)?
13. 13.Rohan’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹80 (posters)
    Expense: ₹210 (ribbon)
    How much is the loss (in ₹)?
14. 14.📒 Income or expense: a card order paid? (a) income (b) expense
15. 15.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) the same day (d) never
16. 16.Diya’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹20 (sugar)
    Expense: ₹130 (paper cups)
    What is the profit (in ₹)?
17. 17.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) money from sales (d) buying paper cups
18. 18.Rohan’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹60 (stall fee)
    Expense: ₹130 (card paper)
    What is the profit (in ₹)?
19. 19.True or false: “cash from selling plants” is income (money in). (a) False (b) True
20. 20.Kavya’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹80 (card paper)
    Expense: ₹40 (paper cups)
    What is the profit (in ₹)?
21. 21.True or false: “a card order paid” is an expense (money out). (a) True (b) False
22. 22.📒 Income or expense: payment for a cake order? (a) expense (b) income
23. 23.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
24. 24.Arjun’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹180 (stall fee)
    Expense: ₹90 (sugar)
    What is the profit (in ₹)?
25. 25.Saanvi’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹70 (card paper)
    Expense: ₹160 (posters)
    What is the profit (in ₹)?
26. 26.Ishaan’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹150 (lemons)
    Expense: ₹20 (paper cups)
    How much is the loss (in ₹)?
27. 27.Which of these is income (money in)? (a) a card order paid (b) buying lemons (c) printing posters (d) buying paper cups
28. 28.Joseph’s income was ₹480 and the profit was ₹50. One expense was ₹250 (card paper). How much was the other expense, for lemons (in ₹)?
29. 29.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
30. 30.True or false: “money from sales” is income (money in). (a) False (b) True
31. 31.📒 Income or expense: printing posters? (a) income (b) expense
32. 32.Gurpreet’s income was ₹100 and the profit was ₹50. One expense was ₹30 (ribbon). How much was the other expense, for lemons (in ₹)?
33. 33.📒 Income or expense: buying paper cups? (a) expense (b) income
34. 34.True or false: “buying paper cups” is income (money in). (a) True (b) False
35. 35.Tara’s income was ₹130 and the profit was ₹90. One expense was ₹10 (transport). How much was the other expense, for ribbon (in ₹)?
36. 36.Kabir’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹70 (sugar)
    Expense: ₹90 (posters)
    How much is the loss (in ₹)?
37. 37.📒 Income or expense: money from sales? (a) expense (b) income
38. 38.📒 Income or expense: paying the stall fee? (a) income (b) expense
39. 39.📒 Income or expense: tutoring fees received? (a) income (b) expense
40. 40.Ananya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹60 (lemons)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?

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