Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 150 · 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) the same day (b) once a year (c) never (d) whenever you like
2. 2.Arjun’s income was ₹120 and the profit was ₹90. One expense was ₹10 (lemons). How much was the other expense, for stall fee (in ₹)?
3. 3.Ishaan’s record for the day:
   Income: ₹180 (morning sales)
   Income: ₹120 (evening sales)
   Expense: ₹90 (posters)
   Expense: ₹190 (lemons)
   What is the profit (in ₹)?
4. 4.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) payment for a cake order (d) paying the stall fee
5. 5.📒 Income or expense: cash from selling plants? (a) income (b) expense
6. 6.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) buying paper cups (d) payment for a cake order
7. 7.Vihaan’s income was ₹310 and the profit was ₹120. One expense was ₹130 (stall fee). How much was the other expense, for paper cups (in ₹)?
8. 8.📒 Income or expense: bus fare to the market? (a) expense (b) income
9. 9.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) no reason (d) to fill a notebook
10. 10.Kabir’s income was ₹230 and the profit was ₹150. One expense was ₹60 (stall fee). How much was the other expense, for transport (in ₹)?
11. 11.📒 Income or expense: printing posters? (a) expense (b) income
12. 12.Dev’s income was ₹130 and the profit was ₹40. One expense was ₹30 (stall fee). How much was the other expense, for card paper (in ₹)?
13. 13.📒 Income or expense: tutoring fees received? (a) income (b) expense
14. 14.Meera’s stall took in ₹370 on Friday, ₹140 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
15. 15.📒 Income or expense: money from sales? (a) expense (b) income
16. 16.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
17. 17.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) income − expenses (d) just the income
18. 18.Farhan’s income was ₹410 and the profit was ₹320. One expense was ₹80 (stall fee). How much was the other expense, for lemons (in ₹)?
19. 19.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
20. 20.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
21. 21.True or false: “a card order paid” is income (money in). (a) True (b) False
22. 22.Diya’s stall took in ₹160 on Friday, ₹170 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
23. 23.Nisha’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹30 (stall fee)
    Expense: ₹110 (lemons)
    What is the profit (in ₹)?
24. 24.Saanvi’s record for the day:
    Income: ₹460 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹170 (card paper)
    Expense: ₹120 (stall fee)
    What is the profit (in ₹)?
25. 25.True or false: “money from sales” is income (money in). (a) False (b) True
26. 26.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) payment for a cake order (d) buying lemons
27. 27.Aarav’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹20 (stall fee)
    Expense: ₹340 (ribbon)
    How much is the loss (in ₹)?
28. 28.Rohan’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹40 (card paper)
    Expense: ₹130 (lemons)
    What is the profit (in ₹)?
29. 29.Ishaan’s record for the day:
    Income: ₹430 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹30 (transport)
    Expense: ₹180 (ribbon)
    What is the profit (in ₹)?
30. 30.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) the bill or receipt (d) only the bag
31. 31.Aarav’s stall took in ₹160 on Friday, ₹320 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
32. 32.Joseph’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹210 (paper cups)
    Expense: ₹50 (ribbon)
    How much is the loss (in ₹)?
33. 33.📒 Income or expense: paying the stall fee? (a) expense (b) income
34. 34.Diya’s stall took in ₹100 on Friday, ₹160 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
35. 35.True or false: “buying paper cups” is income (money in). (a) True (b) False
36. 36.True or false: “paying the stall fee” is income (money in). (a) True (b) False
37. 37.Lakshmi’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹20 (card paper)
    Expense: ₹60 (posters)
    What is the profit (in ₹)?
38. 38.Tara’s income was ₹380 and the profit was ₹320. One expense was ₹10 (lemons). How much was the other expense, for stall fee (in ₹)?
39. 39.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) cash from selling plants (d) bus fare to the market
40. 40.Kabir’s record for the day:
    Income: ₹360 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹150 (transport)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?

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