Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 170 · 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) a selfie (c) only the bag (d) nothing
2. 2.Saanvi’s stall took in ₹180 on Friday, ₹260 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
3. 3.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to know the real profit (d) to fill a notebook
4. 4.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) tutoring fees received (d) bus fare to the market
5. 5.True or false: “money from sales” is income (money in). (a) False (b) True
6. 6.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) money from sales (d) printing posters
7. 7.📒 Income or expense: money from sales? (a) expense (b) income
8. 8.Riya’s income was ₹490 and the profit was ₹370. One expense was ₹40 (transport). How much was the other expense, for paper cups (in ₹)?
9. 9.Kabir’s income was ₹260 and the profit was ₹240. One expense was ₹10 (card paper). How much was the other expense, for lemons (in ₹)?
10. 10.Kavya’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹410 (evening sales)
    Expense: ₹190 (paper cups)
    Expense: ₹190 (sugar)
    What is the profit (in ₹)?
11. 11.Kabir’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹20 (paper cups)
    Expense: ₹70 (card paper)
    What is the profit (in ₹)?
12. 12.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) never (d) once a year
13. 13.Arjun’s stall took in ₹70 on Friday, ₹70 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
14. 14.Farhan’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹100 (card paper)
    Expense: ₹250 (sugar)
    How much is the loss (in ₹)?
15. 15.True or false: “buying lemons” is income (money in). (a) False (b) True
16. 16.Meera’s stall took in ₹370 on Friday, ₹220 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
17. 17.Which of these is income (money in)? (a) printing posters (b) money from sales (c) paying the stall fee (d) buying lemons
18. 18.Aarav’s stall took in ₹220 on Friday, ₹70 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
19. 19.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) buying lemons (d) a card order paid
20. 20.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
21. 21.Gurpreet’s income was ₹470 and the profit was ₹450. One expense was ₹10 (sugar). How much was the other expense, for ribbon (in ₹)?
22. 22.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
23. 23.Tara’s stall took in ₹130 on Friday, ₹330 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
24. 24.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
25. 25.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
26. 26.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
27. 27.📒 Income or expense: buying paper cups? (a) expense (b) income
28. 28.True or false: “money from sales” is an expense (money out). (a) False (b) True
29. 29.True or false: “tutoring fees received” is income (money in). (a) True (b) False
30. 30.📒 Income or expense: a card order paid? (a) income (b) expense
31. 31.Gurpreet’s stall took in ₹50 on Friday, ₹210 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
32. 32.Kavya’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹170 (ribbon)
    Expense: ₹160 (lemons)
    How much is the loss (in ₹)?
33. 33.Aarav’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹30 (ribbon)
    Expense: ₹50 (transport)
    What is the profit (in ₹)?
34. 34.True or false: “buying paper cups” is income (money in). (a) True (b) False
35. 35.Aarav’s income was ₹160 and the profit was ₹120. One expense was ₹20 (transport). How much was the other expense, for lemons (in ₹)?
36. 36.📒 Income or expense: paying the stall fee? (a) expense (b) income
37. 37.Which of these is income (money in)? (a) paying the stall fee (b) a card order paid (c) buying lemons (d) bus fare to the market
38. 38.➖ Profit in your records = (a) income − expenses (b) income + expenses (c) expenses − income (d) just the income
39. 39.Dev’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹180 (ribbon)
    Expense: ₹50 (stall fee)
    What is the profit (in ₹)?
40. 40.📒 Income or expense: buying lemons? (a) income (b) expense

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