Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 174 · 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 know the real profit (d) to fill a notebook
2. 2.Which of these is an expense (money out)? (a) money from sales (b) bus fare to the market (c) tutoring fees received (d) a card order paid
3. 3.Zoya’s record for a rainy day:
   Income: ₹180 (sales)
   Expense: ₹140 (sugar)
   Expense: ₹80 (card paper)
   How much is the loss (in ₹)?
4. 4.Nisha’s income was ₹100 and the profit was ₹40. One expense was ₹20 (card paper). How much was the other expense, for lemons (in ₹)?
5. 5.Kabir’s income was ₹220 and the profit was ₹60. One expense was ₹70 (card paper). How much was the other expense, for posters (in ₹)?
6. 6.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) a card order paid (d) printing posters
7. 7.📒 Income or expense: bus fare to the market? (a) expense (b) income
8. 8.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) tutoring fees received (d) buying paper cups
9. 9.Lakshmi’s record for the day:
   Income: ₹120 (morning sales)
   Income: ₹50 (evening sales)
   Expense: ₹50 (stall fee)
   Expense: ₹100 (sugar)
   What is the profit (in ₹)?
10. 10.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) bus fare to the market (d) money from sales
11. 11.Ishaan’s stall took in ₹120 on Friday, ₹380 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
12. 12.Kabir’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹70 (sugar)
    Expense: ₹40 (card paper)
    How much is the loss (in ₹)?
13. 13.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) nothing (d) only the bag
14. 14.📒 Income or expense: a card order paid? (a) income (b) expense
15. 15.True or false: “cash from selling plants” is income (money in). (a) False (b) True
16. 16.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) once a year (d) never
17. 17.Ananya’s income was ₹340 and the profit was ₹80. One expense was ₹100 (card paper). How much was the other expense, for transport (in ₹)?
18. 18.True or false: “buying paper cups” is income (money in). (a) True (b) False
19. 19.Saanvi’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹70 (sugar)
    Expense: ₹290 (stall fee)
    How much is the loss (in ₹)?
20. 20.➖ Profit in your records = (a) income − expenses (b) income + expenses (c) expenses − income (d) just the income
21. 21.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
22. 22.Rohan’s stall took in ₹190 on Friday, ₹60 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
23. 23.Meera’s stall took in ₹80 on Friday, ₹360 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
24. 24.Dev’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹400 (evening sales)
    Expense: ₹110 (lemons)
    Expense: ₹70 (sugar)
    What is the profit (in ₹)?
25. 25.Riya’s income was ₹420 and the profit was ₹210. One expense was ₹130 (paper cups). How much was the other expense, for sugar (in ₹)?
26. 26.📒 Income or expense: tutoring fees received? (a) income (b) expense
27. 27.Tara’s income was ₹410 and the profit was ₹50. One expense was ₹330 (posters). How much was the other expense, for sugar (in ₹)?
28. 28.Kabir’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹40 (card paper)
    Expense: ₹170 (paper cups)
    How much is the loss (in ₹)?
29. 29.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) buying lemons (d) cash from selling plants
30. 30.Aarav’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹110 (transport)
    Expense: ₹50 (stall fee)
    What is the profit (in ₹)?
31. 31.Dev’s stall took in ₹180 on Friday, ₹330 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
32. 32.📒 Income or expense: printing posters? (a) income (b) expense
33. 33.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) paying the stall fee (d) payment for a cake order
34. 34.📒 Income or expense: cash from selling plants? (a) expense (b) income
35. 35.Aarav’s stall took in ₹380 on Friday, ₹260 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
36. 36.Arjun’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹250 (card paper)
    Expense: ₹30 (paper cups)
    How much is the loss (in ₹)?
37. 37.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) money from sales (d) paying the stall fee
38. 38.Dev’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹80 (ribbon)
    Expense: ₹80 (transport)
    How much is the loss (in ₹)?
39. 39.Meera’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹30 (ribbon)
    Expense: ₹50 (sugar)
    What is the profit (in ₹)?
40. 40.Ishaan’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹180 (sugar)
    Expense: ₹70 (ribbon)
    How much is the loss (in ₹)?

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