Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 166 · 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) only the bag (b) the bill or receipt (c) a selfie (d) nothing
2. 2.Farhan’s income was ₹400 and the profit was ₹20. One expense was ₹100 (sugar). How much was the other expense, for stall fee (in ₹)?
3. 3.Which of these is an expense (money out)? (a) buying lemons (b) a card order paid (c) payment for a cake order (d) money from sales
4. 4.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) to look busy (d) no reason
5. 5.Riya’s record for the day:
   Income: ₹380 (morning sales)
   Income: ₹60 (evening sales)
   Expense: ₹120 (sugar)
   Expense: ₹110 (ribbon)
   What is the profit (in ₹)?
6. 6.📒 Income or expense: a card order paid? (a) expense (b) income
7. 7.📒 Income or expense: buying paper cups? (a) expense (b) income
8. 8.Dev’s income was ₹350 and the profit was ₹100. One expense was ₹80 (lemons). How much was the other expense, for stall fee (in ₹)?
9. 9.Which of these is income (money in)? (a) bus fare to the market (b) cash from selling plants (c) buying paper cups (d) printing posters
10. 10.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) printing posters (d) a card order paid
11. 11.True or false: “buying paper cups” is income (money in). (a) False (b) True
12. 12.Meera’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹30 (posters)
    Expense: ₹330 (paper cups)
    How much is the loss (in ₹)?
13. 13.📒 Income or expense: money from sales? (a) income (b) expense
14. 14.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
15. 15.Dev’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹230 (card paper)
    Expense: ₹120 (ribbon)
    How much is the loss (in ₹)?
16. 16.Meera’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹200 (lemons)
    Expense: ₹10 (stall fee)
    How much is the loss (in ₹)?
17. 17.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
18. 18.Which of these is income (money in)? (a) money from sales (b) buying paper cups (c) printing posters (d) paying the stall fee
19. 19.Ananya’s stall took in ₹360 on Friday, ₹270 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
20. 20.True or false: “tutoring fees received” is income (money in). (a) False (b) True
21. 21.Diya’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹100 (sugar)
    Expense: ₹110 (paper cups)
    What is the profit (in ₹)?
22. 22.📒 Income or expense: paying the stall fee? (a) expense (b) income
23. 23.Meera’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹290 (transport)
    Expense: ₹30 (lemons)
    How much is the loss (in ₹)?
24. 24.📅 When is the best time to update your records? (a) never (b) whenever you like (c) once a year (d) the same day
25. 25.Lakshmi’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹140 (sugar)
    Expense: ₹30 (ribbon)
    How much is the loss (in ₹)?
26. 26.📒 Income or expense: cash from selling plants? (a) income (b) expense
27. 27.Riya’s income was ₹100 and the profit was ₹30. One expense was ₹20 (posters). How much was the other expense, for lemons (in ₹)?
28. 28.📒 Income or expense: payment for a cake order? (a) income (b) expense
29. 29.True or false: “paying the stall fee” is income (money in). (a) False (b) True
30. 30.Meera’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹80 (lemons)
    Expense: ₹90 (posters)
    What is the profit (in ₹)?
31. 31.Meera’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹100 (lemons)
    Expense: ₹200 (paper cups)
    How much is the loss (in ₹)?
32. 32.Nisha’s stall took in ₹280 on Friday, ₹80 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
33. 33.📒 Income or expense: bus fare to the market? (a) expense (b) income
34. 34.📒 Income or expense: printing posters? (a) expense (b) income
35. 35.Riya’s stall took in ₹110 on Friday, ₹160 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
36. 36.Ananya’s income was ₹260 and the profit was ₹40. One expense was ₹70 (ribbon). How much was the other expense, for lemons (in ₹)?
37. 37.Riya’s income was ₹300 and the profit was ₹30. One expense was ₹130 (ribbon). How much was the other expense, for posters (in ₹)?
38. 38.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) printing posters (d) payment for a cake order
39. 39.Diya’s stall took in ₹110 on Friday, ₹320 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
40. 40.True or false: “cash from selling plants” is income (money in). (a) False (b) True

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