Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 88 · 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 income (money in)? (a) paying the stall fee (b) bus fare to the market (c) payment for a cake order (d) printing posters
2. 2.Ishaan’s income was ₹170 and the profit was ₹120. One expense was ₹20 (card paper). How much was the other expense, for paper cups (in ₹)?
3. 3.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) once a year (d) never
4. 4.Zoya’s record for the day:
   Income: ₹310 (morning sales)
   Income: ₹120 (evening sales)
   Expense: ₹50 (stall fee)
   Expense: ₹200 (transport)
   What is the profit (in ₹)?
5. 5.📒 Income or expense: buying lemons? (a) expense (b) income
6. 6.➖ Profit in your records = (a) income − expenses (b) income + expenses (c) expenses − income (d) just the income
7. 7.Kavya’s record for a rainy day:
   Income: ₹190 (sales)
   Expense: ₹60 (sugar)
   Expense: ₹140 (ribbon)
   How much is the loss (in ₹)?
8. 8.Farhan’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹170 (evening sales)
   Expense: ₹120 (posters)
   Expense: ₹30 (card paper)
   What is the profit (in ₹)?
9. 9.Which of these is an expense (money out)? (a) buying paper cups (b) payment for a cake order (c) a card order paid (d) tutoring fees received
10. 10.True or false: “tutoring fees received” is income (money in). (a) False (b) True
11. 11.Which of these is an expense (money out)? (a) paying the stall fee (b) cash from selling plants (c) tutoring fees received (d) payment for a cake order
12. 12.📒 Income or expense: cash from selling plants? (a) income (b) expense
13. 13.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) nothing (d) a selfie
14. 14.Which of these is income (money in)? (a) printing posters (b) money from sales (c) buying paper cups (d) paying the stall fee
15. 15.📒 Income or expense: a card order paid? (a) expense (b) income
16. 16.📒 Income or expense: paying the stall fee? (a) income (b) expense
17. 17.Ananya’s stall took in ₹60 on Friday, ₹350 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
18. 18.Tara’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹70 (card paper)
    Expense: ₹50 (lemons)
    How much is the loss (in ₹)?
19. 19.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) paying the stall fee (d) a card order paid
20. 20.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
21. 21.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) cash from selling plants
22. 22.Riya’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹150 (transport)
    Expense: ₹140 (lemons)
    What is the profit (in ₹)?
23. 23.Arjun’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹150 (lemons)
    Expense: ₹20 (card paper)
    How much is the loss (in ₹)?
24. 24.Nisha’s stall took in ₹130 on Friday, ₹360 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
25. 25.Which of these is an expense (money out)? (a) printing posters (b) tutoring fees received (c) a card order paid (d) money from sales
26. 26.📒 Income or expense: buying paper cups? (a) income (b) expense
27. 27.Zoya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹20 (ribbon)
    Expense: ₹90 (card paper)
    What is the profit (in ₹)?
28. 28.Nisha’s stall took in ₹370 on Friday, ₹140 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
29. 29.📒 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
30. 30.Lakshmi’s income was ₹440 and the profit was ₹360. One expense was ₹30 (card paper). How much was the other expense, for paper cups (in ₹)?
31. 31.Kabir’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹90 (card paper)
    Expense: ₹140 (posters)
    What is the profit (in ₹)?
32. 32.Ishaan’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹20 (card paper)
    Expense: ₹60 (ribbon)
    What is the profit (in ₹)?
33. 33.Riya’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹150 (transport)
    Expense: ₹80 (lemons)
    How much is the loss (in ₹)?
34. 34.Farhan’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹10 (paper cups)
    Expense: ₹210 (transport)
    How much is the loss (in ₹)?
35. 35.Kabir’s stall took in ₹90 on Friday, ₹120 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
36. 36.Ishaan’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹180 (lemons)
    Expense: ₹80 (posters)
    What is the profit (in ₹)?
37. 37.Meera’s stall took in ₹200 on Friday, ₹200 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
38. 38.Saanvi’s income was ₹350 and the profit was ₹170. One expense was ₹100 (card paper). How much was the other expense, for lemons (in ₹)?
39. 39.Vihaan’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹160 (transport)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
40. 40.📒 Income or expense: bus fare to the market? (a) income (b) expense

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