Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 157 · 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.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) the bill or receipt (d) only the bag
2. 2.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to know the real profit (d) to look busy
3. 3.📒 Income or expense: buying lemons? (a) income (b) expense
4. 4.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
5. 5.Tara’s stall took in ₹370 on Friday, ₹240 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
6. 6.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) payment for a cake order (d) bus fare to the market
7. 7.Aarav’s stall took in ₹390 on Friday, ₹260 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
8. 8.Lakshmi’s record for the day:
   Income: ₹210 (morning sales)
   Income: ₹100 (evening sales)
   Expense: ₹130 (sugar)
   Expense: ₹30 (paper cups)
   What is the profit (in ₹)?
9. 9.Arjun’s income was ₹100 and the profit was ₹20. One expense was ₹20 (ribbon). How much was the other expense, for stall fee (in ₹)?
10. 10.True or false: “printing posters” is an expense (money out). (a) False (b) True
11. 11.Nisha’s stall took in ₹220 on Friday, ₹70 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
12. 12.Ananya’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹360 (transport)
    Expense: ₹30 (paper cups)
    How much is the loss (in ₹)?
13. 13.Ananya’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹60 (ribbon)
    Expense: ₹80 (paper cups)
    How much is the loss (in ₹)?
14. 14.Kavya’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹110 (paper cups)
    Expense: ₹220 (lemons)
    How much is the loss (in ₹)?
15. 15.Which of these is income (money in)? (a) buying paper cups (b) money from sales (c) printing posters (d) bus fare to the market
16. 16.Which of these is income (money in)? (a) printing posters (b) cash from selling plants (c) buying lemons (d) bus fare to the market
17. 17.True or false: “bus fare to the market” is income (money in). (a) True (b) False
18. 18.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
19. 19.📒 Income or expense: cash from selling plants? (a) expense (b) income
20. 20.Aarav’s income was ₹410 and the profit was ₹310. One expense was ₹90 (sugar). How much was the other expense, for lemons (in ₹)?
21. 21.True or false: “printing posters” is income (money in). (a) True (b) False
22. 22.📒 Income or expense: paying the stall fee? (a) expense (b) income
23. 23.Gurpreet’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹120 (ribbon)
    Expense: ₹100 (lemons)
    How much is the loss (in ₹)?
24. 24.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) never (d) once a year
25. 25.Nisha’s income was ₹300 and the profit was ₹100. One expense was ₹120 (paper cups). How much was the other expense, for transport (in ₹)?
26. 26.Tara’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹140 (posters)
    Expense: ₹50 (transport)
    How much is the loss (in ₹)?
27. 27.📒 Income or expense: money from sales? (a) expense (b) income
28. 28.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
29. 29.Kabir’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹70 (sugar)
    Expense: ₹30 (ribbon)
    What is the profit (in ₹)?
30. 30.Ishaan’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹50 (posters)
    Expense: ₹110 (lemons)
    How much is the loss (in ₹)?
31. 31.📒 Income or expense: payment for a cake order? (a) income (b) expense
32. 32.True or false: “buying lemons” is income (money in). (a) False (b) True
33. 33.Kabir’s stall took in ₹70 on Friday, ₹170 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
34. 34.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) tutoring fees received (d) buying paper cups
35. 35.Diya’s income was ₹370 and the profit was ₹230. One expense was ₹10 (ribbon). How much was the other expense, for lemons (in ₹)?
36. 36.Ishaan’s income was ₹120 and the profit was ₹80. One expense was ₹20 (transport). How much was the other expense, for ribbon (in ₹)?
37. 37.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) tutoring fees received (d) buying lemons
38. 38.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
39. 39.Tara’s stall took in ₹210 on Friday, ₹230 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
40. 40.Joseph’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹40 (sugar)
    Expense: ₹90 (stall fee)
    How much is the loss (in ₹)?

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