Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 978 · 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.📒 Income or expense: a card order paid? (a) income (b) expense
2. 2.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) no reason (d) to know the real profit
3. 3.Which of these is an expense (money out)? (a) payment for a cake order (b) printing posters (c) money from sales (d) cash from selling plants
4. 4.Farhan’s record for the day:
   Income: ₹250 (morning sales)
   Income: ₹120 (evening sales)
   Expense: ₹140 (stall fee)
   Expense: ₹80 (transport)
   What is the profit (in ₹)?
5. 5.Kavya’s record for a rainy day:
   Income: ₹240 (sales)
   Expense: ₹190 (sugar)
   Expense: ₹80 (lemons)
   How much is the loss (in ₹)?
6. 6.Kabir’s record for a rainy day:
   Income: ₹160 (sales)
   Expense: ₹170 (ribbon)
   Expense: ₹80 (lemons)
   How much is the loss (in ₹)?
7. 7.Diya’s income was ₹110 and the profit was ₹70. One expense was ₹30 (stall fee). How much was the other expense, for transport (in ₹)?
8. 8.Which of these is an expense (money out)? (a) payment for a cake order (b) bus fare to the market (c) a card order paid (d) money from sales
9. 9.Aarav’s stall took in ₹70 on Friday, ₹70 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
10. 10.📒 Income or expense: buying paper cups? (a) expense (b) income
11. 11.📅 When is the best time to update your records? (a) whenever you like (b) never (c) the same day (d) once a year
12. 12.Kabir’s stall took in ₹130 on Friday, ₹330 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
13. 13.Nisha’s stall took in ₹210 on Friday, ₹120 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
14. 14.Which of these is an expense (money out)? (a) buying paper cups (b) cash from selling plants (c) tutoring fees received (d) payment for a cake order
15. 15.True or false: “buying lemons” is an expense (money out). (a) False (b) True
16. 16.📒 Income or expense: cash from selling plants? (a) expense (b) income
17. 17.Arjun’s income was ₹240 and the profit was ₹190. One expense was ₹20 (ribbon). How much was the other expense, for stall fee (in ₹)?
18. 18.Aarav’s income was ₹490 and the profit was ₹160. One expense was ₹280 (sugar). How much was the other expense, for paper cups (in ₹)?
19. 19.📒 Income or expense: money from sales? (a) income (b) expense
20. 20.Which of these is income (money in)? (a) tutoring fees received (b) printing posters (c) buying paper cups (d) paying the stall fee
21. 21.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt
22. 22.Zoya’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹280 (card paper)
    Expense: ₹10 (posters)
    How much is the loss (in ₹)?
23. 23.True or false: “buying paper cups” is income (money in). (a) True (b) False
24. 24.Rohan’s income was ₹410 and the profit was ₹230. One expense was ₹10 (lemons). How much was the other expense, for stall fee (in ₹)?
25. 25.📒 Income or expense: tutoring fees received? (a) expense (b) income
26. 26.Kabir’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹120 (posters)
    Expense: ₹180 (ribbon)
    What is the profit (in ₹)?
27. 27.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) a card order paid (d) buying lemons
28. 28.Which of these is income (money in)? (a) money from sales (b) buying lemons (c) paying the stall fee (d) bus fare to the market
29. 29.True or false: “printing posters” is income (money in). (a) True (b) False
30. 30.True or false: “cash from selling plants” is income (money in). (a) False (b) True
31. 31.Ananya’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹150 (stall fee)
    Expense: ₹70 (card paper)
    What is the profit (in ₹)?
32. 32.Gurpreet’s stall took in ₹290 on Friday, ₹330 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
33. 33.Which of these is an expense (money out)? (a) cash from selling plants (b) buying lemons (c) money from sales (d) tutoring fees received
34. 34.True or false: “printing posters” is an expense (money out). (a) False (b) True
35. 35.Joseph’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹110 (sugar)
    Expense: ₹50 (card paper)
    How much is the loss (in ₹)?
36. 36.Ishaan’s stall took in ₹160 on Friday, ₹220 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
37. 37.Rohan’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹70 (paper cups)
    Expense: ₹200 (lemons)
    How much is the loss (in ₹)?
38. 38.Gurpreet’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹400 (evening sales)
    Expense: ₹140 (paper cups)
    Expense: ₹130 (sugar)
    What is the profit (in ₹)?
39. 39.Rohan’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹20 (stall fee)
    Expense: ₹50 (lemons)
    What is the profit (in ₹)?
40. 40.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) income + expenses (d) just the income

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