Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 169 · 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.Which of these is an expense (money out)? (a) paying the stall fee (b) payment for a cake order (c) cash from selling plants (d) money from sales
3. 3.Meera’s record for the day:
   Income: ₹140 (morning sales)
   Income: ₹270 (evening sales)
   Expense: ₹60 (ribbon)
   Expense: ₹150 (stall fee)
   What is the profit (in ₹)?
4. 4.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) the same day (d) never
5. 5.Which of these is income (money in)? (a) tutoring fees received (b) paying the stall fee (c) buying lemons (d) printing posters
6. 6.Farhan’s record for a rainy day:
   Income: ₹90 (sales)
   Expense: ₹80 (paper cups)
   Expense: ₹20 (lemons)
   How much is the loss (in ₹)?
7. 7.True or false: “buying lemons” is an expense (money out). (a) True (b) False
8. 8.Farhan’s record for the day:
   Income: ₹70 (morning sales)
   Income: ₹20 (evening sales)
   Expense: ₹30 (posters)
   Expense: ₹40 (lemons)
   What is the profit (in ₹)?
9. 9.Which of these is an expense (money out)? (a) cash from selling plants (b) buying lemons (c) money from sales (d) tutoring fees received
10. 10.📒 Income or expense: paying the stall fee? (a) income (b) expense
11. 11.Joseph’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹10 (sugar)
    Expense: ₹50 (paper cups)
    How much is the loss (in ₹)?
12. 12.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) cash from selling plants (d) bus fare to the market
13. 13.📒 Income or expense: printing posters? (a) expense (b) income
14. 14.📒 Income or expense: tutoring fees received? (a) income (b) expense
15. 15.Saanvi’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹200 (sugar)
    Expense: ₹30 (lemons)
    How much is the loss (in ₹)?
16. 16.Gurpreet’s stall took in ₹170 on Friday, ₹110 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
17. 17.📒 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
18. 18.Arjun’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹170 (card paper)
    Expense: ₹20 (sugar)
    What is the profit (in ₹)?
19. 19.📒 Income or expense: bus fare to the market? (a) income (b) expense
20. 20.Arjun’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹200 (stall fee)
    Expense: ₹130 (sugar)
    What is the profit (in ₹)?
21. 21.Rohan’s income was ₹250 and the profit was ₹70. One expense was ₹20 (ribbon). How much was the other expense, for paper cups (in ₹)?
22. 22.Kabir’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹140 (ribbon)
    Expense: ₹90 (lemons)
    What is the profit (in ₹)?
23. 23.True or false: “cash from selling plants” is income (money in). (a) False (b) True
24. 24.Dev’s record for the day:
    Income: ₹350 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹160 (stall fee)
    Expense: ₹170 (paper cups)
    What is the profit (in ₹)?
25. 25.Saanvi’s income was ₹240 and the profit was ₹20. One expense was ₹50 (stall fee). How much was the other expense, for posters (in ₹)?
26. 26.True or false: “tutoring fees received” is income (money in). (a) True (b) False
27. 27.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
28. 28.➖ Profit in your records = (a) just the income (b) income − expenses (c) expenses − income (d) income + expenses
29. 29.Ananya’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹20 (card paper)
    Expense: ₹60 (sugar)
    How much is the loss (in ₹)?
30. 30.Arjun’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹60 (sugar)
    Expense: ₹20 (lemons)
    What is the profit (in ₹)?
31. 31.Farhan’s stall took in ₹200 on Friday, ₹270 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
32. 32.Diya’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹310 (posters)
    Expense: ₹40 (paper cups)
    How much is the loss (in ₹)?
33. 33.Joseph’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹160 (paper cups)
    Expense: ₹30 (transport)
    What is the profit (in ₹)?
34. 34.📒 Income or expense: buying paper cups? (a) expense (b) income
35. 35.Which of these is an expense (money out)? (a) bus fare to the market (b) tutoring fees received (c) a card order paid (d) payment for a cake order
36. 36.Meera’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹180 (stall fee)
    Expense: ₹20 (lemons)
    What is the profit (in ₹)?
37. 37.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) paying the stall fee (d) money from sales
38. 38.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) a card order paid (d) paying the stall fee
39. 39.Riya’s stall took in ₹110 on Friday, ₹240 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
40. 40.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True

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