Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 86 · 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) a card order paid (c) cash from selling plants (d) printing posters
2. 2.True or false: “paying the stall fee” is income (money in). (a) True (b) False
3. 3.Meera’s record for the day:
   Income: ₹50 (morning sales)
   Income: ₹260 (evening sales)
   Expense: ₹20 (card paper)
   Expense: ₹20 (stall fee)
   What is the profit (in ₹)?
4. 4.📒 Income or expense: paying the stall fee? (a) expense (b) income
5. 5.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) just the income (d) income − expenses
6. 6.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) nothing (d) the bill or receipt
7. 7.True or false: “tutoring fees received” is income (money in). (a) True (b) False
8. 8.Farhan’s record for a rainy day:
   Income: ₹270 (sales)
   Expense: ₹250 (paper cups)
   Expense: ₹110 (stall fee)
   How much is the loss (in ₹)?
9. 9.📒 Income or expense: buying paper cups? (a) expense (b) income
10. 10.📒 Income or expense: buying lemons? (a) expense (b) income
11. 11.Zoya’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹30 (card paper)
    Expense: ₹120 (stall fee)
    How much is the loss (in ₹)?
12. 12.Gurpreet’s income was ₹420 and the profit was ₹200. One expense was ₹150 (lemons). How much was the other expense, for transport (in ₹)?
13. 13.Meera’s stall took in ₹380 on Friday, ₹290 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
14. 14.Joseph’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹500 (evening sales)
    Expense: ₹80 (lemons)
    Expense: ₹180 (posters)
    What is the profit (in ₹)?
15. 15.True or false: “printing posters” is income (money in). (a) True (b) False
16. 16.📒 Income or expense: payment for a cake order? (a) expense (b) income
17. 17.📒 Income or expense: tutoring fees received? (a) expense (b) income
18. 18.📒 Income or expense: cash from selling plants? (a) expense (b) income
19. 19.True or false: “money from sales” is an expense (money out). (a) True (b) False
20. 20.Zoya’s income was ₹100 and the profit was ₹80. One expense was ₹10 (lemons). How much was the other expense, for paper cups (in ₹)?
21. 21.Zoya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹30 (lemons)
    Expense: ₹80 (sugar)
    What is the profit (in ₹)?
22. 22.📒 Income or expense: printing posters? (a) income (b) expense
23. 23.Lakshmi’s stall took in ₹250 on Friday, ₹80 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
24. 24.True or false: “buying lemons” is income (money in). (a) False (b) True
25. 25.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) bus fare to the market (d) a card order paid
26. 26.Which of these is income (money in)? (a) money from sales (b) buying lemons (c) paying the stall fee (d) printing posters
27. 27.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to look busy (d) to know the real profit
28. 28.Arjun’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹100 (transport)
    Expense: ₹160 (posters)
    How much is the loss (in ₹)?
29. 29.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) money from sales (d) buying lemons
30. 30.Which of these is an expense (money out)? (a) paying the stall fee (b) cash from selling plants (c) payment for a cake order (d) a card order paid
31. 31.📒 Income or expense: money from sales? (a) income (b) expense
32. 32.Tara’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹160 (lemons)
    Expense: ₹40 (paper cups)
    What is the profit (in ₹)?
33. 33.True or false: “money from sales” is income (money in). (a) False (b) True
34. 34.Dev’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹90 (sugar)
    Expense: ₹120 (lemons)
    What is the profit (in ₹)?
35. 35.Rohan’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹50 (sugar)
    Expense: ₹90 (card paper)
    How much is the loss (in ₹)?
36. 36.Riya’s income was ₹100 and the profit was ₹40. One expense was ₹10 (transport). How much was the other expense, for sugar (in ₹)?
37. 37.Rohan’s income was ₹230 and the profit was ₹50. One expense was ₹60 (paper cups). How much was the other expense, for lemons (in ₹)?
38. 38.True or false: “cash from selling plants” is income (money in). (a) True (b) False
39. 39.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
40. 40.Dev’s stall took in ₹130 on Friday, ₹50 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?

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