Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 162 · 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.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to fill a notebook (d) to know the real profit
2. 2.True or false: “a card order paid” is an expense (money out). (a) False (b) True
3. 3.Farhan’s stall took in ₹90 on Friday, ₹380 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
4. 4.True or false: “payment for a cake order” is income (money in). (a) True (b) False
5. 5.📒 Income or expense: a card order paid? (a) income (b) expense
6. 6.📒 Income or expense: paying the stall fee? (a) income (b) expense
7. 7.📅 When is the best time to update your records? (a) the same day (b) never (c) whenever you like (d) once a year
8. 8.📒 Income or expense: buying lemons? (a) income (b) expense
9. 9.Dev’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹250 (evening sales)
   Expense: ₹110 (sugar)
   Expense: ₹20 (ribbon)
   What is the profit (in ₹)?
10. 10.Aarav’s record for the day:
    Income: ₹540 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹180 (transport)
    Expense: ₹110 (stall fee)
    What is the profit (in ₹)?
11. 11.True or false: “tutoring fees received” is income (money in). (a) False (b) True
12. 12.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) tutoring fees received (d) paying the stall fee
13. 13.Zoya’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹190 (sugar)
    Expense: ₹70 (card paper)
    How much is the loss (in ₹)?
14. 14.Zoya’s stall took in ₹250 on Friday, ₹270 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
15. 15.Kabir’s income was ₹420 and the profit was ₹330. One expense was ₹60 (posters). How much was the other expense, for lemons (in ₹)?
16. 16.Rohan’s income was ₹360 and the profit was ₹50. One expense was ₹300 (paper cups). How much was the other expense, for stall fee (in ₹)?
17. 17.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) buying lemons (d) money from sales
18. 18.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) bus fare to the market (d) payment for a cake order
19. 19.Vihaan’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹200 (transport)
    Expense: ₹200 (card paper)
    What is the profit (in ₹)?
20. 20.Saanvi’s income was ₹280 and the profit was ₹220. One expense was ₹20 (paper cups). How much was the other expense, for stall fee (in ₹)?
21. 21.Diya’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹130 (lemons)
    Expense: ₹20 (sugar)
    What is the profit (in ₹)?
22. 22.Farhan’s stall took in ₹90 on Friday, ₹380 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
23. 23.Kavya’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹120 (posters)
    Expense: ₹70 (ribbon)
    What is the profit (in ₹)?
24. 24.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) buying paper cups (d) money from sales
25. 25.Rohan’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹40 (stall fee)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?
26. 26.Which of these is an expense (money out)? (a) a card order paid (b) buying lemons (c) cash from selling plants (d) payment for a cake order
27. 27.Zoya’s income was ₹140 and the profit was ₹100. One expense was ₹20 (posters). How much was the other expense, for transport (in ₹)?
28. 28.Arjun’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹200 (card paper)
    Expense: ₹60 (paper cups)
    What is the profit (in ₹)?
29. 29.Aarav’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹20 (lemons)
    Expense: ₹80 (posters)
    What is the profit (in ₹)?
30. 30.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) payment for a cake order (d) buying paper cups
31. 31.📒 Income or expense: money from sales? (a) expense (b) income
32. 32.📒 Income or expense: tutoring fees received? (a) income (b) expense
33. 33.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
34. 34.Kabir’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹10 (card paper)
    Expense: ₹70 (sugar)
    How much is the loss (in ₹)?
35. 35.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) only the bag (d) nothing
36. 36.Lakshmi’s stall took in ₹90 on Friday, ₹240 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
37. 37.True or false: “paying the stall fee” is income (money in). (a) True (b) False
38. 38.True or false: “money from sales” is income (money in). (a) True (b) False
39. 39.Tara’s income was ₹430 and the profit was ₹300. One expense was ₹10 (card paper). How much was the other expense, for sugar (in ₹)?
40. 40.Meera’s stall took in ₹150 on Friday, ₹100 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?

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