Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 173 · 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.📅 When is the best time to update your records? (a) the same day (b) never (c) whenever you like (d) once a year
2. 2.Aarav’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹30 (transport)
   Expense: ₹160 (card paper)
   How much is the loss (in ₹)?
3. 3.Kavya’s stall took in ₹130 on Friday, ₹120 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
4. 4.Joseph’s record for a rainy day:
   Income: ₹140 (sales)
   Expense: ₹20 (stall fee)
   Expense: ₹210 (paper cups)
   How much is the loss (in ₹)?
5. 5.📒 Income or expense: money from sales? (a) income (b) expense
6. 6.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
7. 7.True or false: “money from sales” is income (money in). (a) False (b) True
8. 8.Nisha’s stall took in ₹340 on Friday, ₹70 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
9. 9.Rohan’s stall took in ₹340 on Friday, ₹280 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
10. 10.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) printing posters (d) money from sales
11. 11.Gurpreet’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹40 (lemons)
    Expense: ₹50 (sugar)
    What is the profit (in ₹)?
12. 12.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) the bill or receipt (d) only the bag
13. 13.Ishaan’s record for the day:
    Income: ₹460 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹180 (lemons)
    Expense: ₹140 (stall fee)
    What is the profit (in ₹)?
14. 14.📒 Income or expense: paying the stall fee? (a) income (b) expense
15. 15.Gurpreet’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹60 (sugar)
    Expense: ₹90 (lemons)
    What is the profit (in ₹)?
16. 16.True or false: “bus fare to the market” is income (money in). (a) False (b) True
17. 17.Vihaan’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹10 (stall fee)
    Expense: ₹350 (card paper)
    How much is the loss (in ₹)?
18. 18.➖ Profit in your records = (a) just the income (b) expenses − income (c) income + expenses (d) income − expenses
19. 19.True or false: “cash from selling plants” is income (money in). (a) False (b) True
20. 20.True or false: “buying lemons” is income (money in). (a) False (b) True
21. 21.Nisha’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹40 (ribbon)
    Expense: ₹100 (transport)
    How much is the loss (in ₹)?
22. 22.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to know the real profit (d) to look busy
23. 23.Farhan’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹60 (transport)
    Expense: ₹30 (stall fee)
    What is the profit (in ₹)?
24. 24.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
25. 25.Saanvi’s income was ₹160 and the profit was ₹110. One expense was ₹40 (sugar). How much was the other expense, for stall fee (in ₹)?
26. 26.True or false: “paying the stall fee” is income (money in). (a) True (b) False
27. 27.Diya’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹130 (lemons)
    Expense: ₹170 (sugar)
    What is the profit (in ₹)?
28. 28.Meera’s income was ₹380 and the profit was ₹220. One expense was ₹10 (transport). How much was the other expense, for ribbon (in ₹)?
29. 29.Which of these is an expense (money out)? (a) bus fare to the market (b) a card order paid (c) payment for a cake order (d) cash from selling plants
30. 30.📒 Income or expense: buying lemons? (a) expense (b) income
31. 31.Saanvi’s stall took in ₹320 on Friday, ₹160 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
32. 32.Gurpreet’s stall took in ₹120 on Friday, ₹50 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
33. 33.Kavya’s income was ₹130 and the profit was ₹90. One expense was ₹30 (lemons). How much was the other expense, for stall fee (in ₹)?
34. 34.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) payment for a cake order (d) buying lemons
35. 35.Meera’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹170 (card paper)
    Expense: ₹190 (stall fee)
    What is the profit (in ₹)?
36. 36.Riya’s stall took in ₹140 on Friday, ₹150 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
37. 37.True or false: “money from sales” is an expense (money out). (a) False (b) True
38. 38.📒 Income or expense: cash from selling plants? (a) income (b) expense
39. 39.Kavya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹80 (ribbon)
    Expense: ₹60 (card paper)
    What is the profit (in ₹)?
40. 40.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) a card order paid (d) buying paper cups

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