Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 133 · 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.📅 When is the best time to update your records? (a) once a year (b) never (c) whenever you like (d) the same day
2. 2.True or false: “cash from selling plants” is income (money in). (a) False (b) True
3. 3.📒 Income or expense: a card order paid? (a) expense (b) income
4. 4.Rohan’s stall took in ₹80 on Friday, ₹240 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
5. 5.Arjun’s stall took in ₹220 on Friday, ₹370 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
6. 6.➖ Profit in your records = (a) just the income (b) income + expenses (c) expenses − income (d) income − expenses
7. 7.Dev’s record for a rainy day:
   Income: ₹270 (sales)
   Expense: ₹20 (sugar)
   Expense: ₹290 (ribbon)
   How much is the loss (in ₹)?
8. 8.Gurpreet’s income was ₹210 and the profit was ₹10. One expense was ₹60 (ribbon). How much was the other expense, for stall fee (in ₹)?
9. 9.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) to know the real profit (d) no reason
10. 10.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) buying paper cups (d) payment for a cake order
11. 11.📒 Income or expense: cash from selling plants? (a) income (b) expense
12. 12.True or false: “printing posters” is an expense (money out). (a) False (b) True
13. 13.📒 Income or expense: paying the stall fee? (a) income (b) expense
14. 14.Meera’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹60 (paper cups)
    Expense: ₹80 (stall fee)
    How much is the loss (in ₹)?
15. 15.Kabir’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹80 (transport)
    Expense: ₹40 (posters)
    How much is the loss (in ₹)?
16. 16.Riya’s stall took in ₹130 on Friday, ₹330 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
17. 17.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) a selfie (d) the bill or receipt
18. 18.📒 Income or expense: buying paper cups? (a) income (b) expense
19. 19.Which of these is income (money in)? (a) money from sales (b) bus fare to the market (c) buying lemons (d) buying paper cups
20. 20.Ananya’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹50 (posters)
    Expense: ₹70 (lemons)
    What is the profit (in ₹)?
21. 21.True or false: “buying lemons” is an expense (money out). (a) True (b) False
22. 22.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) money from sales (d) buying lemons
23. 23.True or false: “bus fare to the market” is income (money in). (a) False (b) True
24. 24.Which of these is income (money in)? (a) buying paper cups (b) a card order paid (c) buying lemons (d) printing posters
25. 25.📒 Income or expense: tutoring fees received? (a) expense (b) income
26. 26.Ishaan’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹140 (paper cups)
    Expense: ₹30 (lemons)
    What is the profit (in ₹)?
27. 27.Rohan’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹90 (ribbon)
    What is the profit (in ₹)?
28. 28.Diya’s income was ₹480 and the profit was ₹40. One expense was ₹200 (card paper). How much was the other expense, for transport (in ₹)?
29. 29.Kabir’s stall took in ₹240 on Friday, ₹360 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
30. 30.Lakshmi’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹290 (ribbon)
    Expense: ₹80 (paper cups)
    How much is the loss (in ₹)?
31. 31.Kavya’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹190 (stall fee)
    Expense: ₹110 (paper cups)
    How much is the loss (in ₹)?
32. 32.Aarav’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹230 (transport)
    Expense: ₹10 (lemons)
    How much is the loss (in ₹)?
33. 33.Diya’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹130 (transport)
    Expense: ₹40 (lemons)
    What is the profit (in ₹)?
34. 34.Meera’s income was ₹140 and the profit was ₹70. One expense was ₹20 (transport). How much was the other expense, for lemons (in ₹)?
35. 35.Riya’s income was ₹140 and the profit was ₹90. One expense was ₹10 (ribbon). How much was the other expense, for transport (in ₹)?
36. 36.📒 Income or expense: payment for a cake order? (a) expense (b) income
37. 37.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) payment for a cake order (d) paying the stall fee
38. 38.True or false: “printing posters” is income (money in). (a) True (b) False
39. 39.Saanvi’s income was ₹120 and the profit was ₹70. One expense was ₹10 (posters). How much was the other expense, for stall fee (in ₹)?
40. 40.Aarav’s stall took in ₹80 on Friday, ₹200 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?

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