Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 16 · 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) the bill or receipt (b) nothing (c) only the bag (d) a selfie
2. 2.📒 Income or expense: cash from selling plants? (a) income (b) expense
3. 3.Kabir’s record for a rainy day:
   Income: ₹160 (sales)
   Expense: ₹120 (sugar)
   Expense: ₹50 (stall fee)
   How much is the loss (in ₹)?
4. 4.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) money from sales (d) buying lemons
5. 5.Gurpreet’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹220 (evening sales)
   Expense: ₹20 (sugar)
   Expense: ₹110 (stall fee)
   What is the profit (in ₹)?
6. 6.📒 Income or expense: a card order paid? (a) expense (b) income
7. 7.Ishaan’s stall took in ₹140 on Friday, ₹180 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
8. 8.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) buying paper cups (d) money from sales
9. 9.Ananya’s record for the day:
   Income: ₹490 (morning sales)
   Income: ₹50 (evening sales)
   Expense: ₹160 (posters)
   Expense: ₹130 (stall fee)
   What is the profit (in ₹)?
10. 10.📒 Income or expense: paying the stall fee? (a) expense (b) income
11. 11.Joseph’s income was ₹140 and the profit was ₹80. One expense was ₹30 (paper cups). How much was the other expense, for card paper (in ₹)?
12. 12.True or false: “payment for a cake order” is income (money in). (a) False (b) True
13. 13.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) printing posters (d) cash from selling plants
14. 14.Which of these is an expense (money out)? (a) money from sales (b) paying the stall fee (c) cash from selling plants (d) payment for a cake order
15. 15.Which of these is an expense (money out)? (a) printing posters (b) tutoring fees received (c) cash from selling plants (d) payment for a cake order
16. 16.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to fill a notebook (d) to know the real profit
17. 17.Arjun’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹110 (card paper)
    What is the profit (in ₹)?
18. 18.Meera’s income was ₹340 and the profit was ₹210. One expense was ₹100 (ribbon). How much was the other expense, for transport (in ₹)?
19. 19.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
20. 20.True or false: “a card order paid” is income (money in). (a) True (b) False
21. 21.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
22. 22.📅 When is the best time to update your records? (a) the same day (b) once a year (c) whenever you like (d) never
23. 23.Lakshmi’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹10 (ribbon)
    Expense: ₹220 (card paper)
    How much is the loss (in ₹)?
24. 24.Zoya’s stall took in ₹310 on Friday, ₹110 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
25. 25.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
26. 26.Which of these is an expense (money out)? (a) cash from selling plants (b) bus fare to the market (c) money from sales (d) tutoring fees received
27. 27.➖ Profit in your records = (a) expenses − income (b) just the income (c) income − expenses (d) income + expenses
28. 28.📒 Income or expense: payment for a cake order? (a) expense (b) income
29. 29.Diya’s stall took in ₹220 on Friday, ₹190 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
30. 30.True or false: “money from sales” is an expense (money out). (a) False (b) True
31. 31.Dev’s income was ₹200 and the profit was ₹130. One expense was ₹40 (sugar). How much was the other expense, for posters (in ₹)?
32. 32.📒 Income or expense: buying lemons? (a) expense (b) income
33. 33.Kavya’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹170 (transport)
    Expense: ₹150 (lemons)
    What is the profit (in ₹)?
34. 34.📒 Income or expense: printing posters? (a) expense (b) income
35. 35.Farhan’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹10 (stall fee)
    Expense: ₹90 (paper cups)
    How much is the loss (in ₹)?
36. 36.Which of these is an expense (money out)? (a) buying lemons (b) cash from selling plants (c) money from sales (d) a card order paid
37. 37.Diya’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹70 (ribbon)
    How much is the loss (in ₹)?
38. 38.Arjun’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹70 (stall fee)
    Expense: ₹60 (lemons)
    How much is the loss (in ₹)?
39. 39.Saanvi’s stall took in ₹80 on Friday, ₹350 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
40. 40.True or false: “cash from selling plants” is income (money in). (a) True (b) False

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