Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 197 · 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) whenever you like (b) the same day (c) once a year (d) never
2. 2.Lakshmi’s record for the day:
   Income: ₹340 (morning sales)
   Income: ₹20 (evening sales)
   Expense: ₹50 (posters)
   Expense: ₹40 (stall fee)
   What is the profit (in ₹)?
3. 3.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) nothing (d) a selfie
4. 4.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) money from sales (d) bus fare to the market
5. 5.Dev’s stall took in ₹100 on Friday, ₹90 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
6. 6.Diya’s record for the day:
   Income: ₹260 (morning sales)
   Income: ₹30 (evening sales)
   Expense: ₹150 (posters)
   Expense: ₹60 (transport)
   What is the profit (in ₹)?
7. 7.Aarav’s record for the day:
   Income: ₹40 (morning sales)
   Income: ₹290 (evening sales)
   Expense: ₹40 (stall fee)
   Expense: ₹180 (posters)
   What is the profit (in ₹)?
8. 8.📒 Income or expense: money from sales? (a) expense (b) income
9. 9.Vihaan’s record for the day:
   Income: ₹290 (morning sales)
   Income: ₹70 (evening sales)
   Expense: ₹190 (sugar)
   Expense: ₹60 (ribbon)
   What is the profit (in ₹)?
10. 10.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) no reason (d) to know the real profit
11. 11.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) buying paper cups (d) tutoring fees received
12. 12.Which of these is income (money in)? (a) a card order paid (b) paying the stall fee (c) printing posters (d) buying lemons
13. 13.True or false: “money from sales” is income (money in). (a) False (b) True
14. 14.Kabir’s stall took in ₹360 on Friday, ₹210 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
15. 15.Ananya’s income was ₹160 and the profit was ₹30. One expense was ₹90 (stall fee). How much was the other expense, for transport (in ₹)?
16. 16.📒 Income or expense: buying lemons? (a) income (b) expense
17. 17.📒 Income or expense: buying paper cups? (a) expense (b) income
18. 18.Vihaan’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹220 (ribbon)
    Expense: ₹70 (lemons)
    How much is the loss (in ₹)?
19. 19.📒 Income or expense: printing posters? (a) expense (b) income
20. 20.📒 Income or expense: cash from selling plants? (a) income (b) expense
21. 21.Rohan’s stall took in ₹200 on Friday, ₹380 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
22. 22.Riya’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹90 (lemons)
    Expense: ₹50 (ribbon)
    What is the profit (in ₹)?
23. 23.Ishaan’s income was ₹450 and the profit was ₹410. One expense was ₹10 (card paper). How much was the other expense, for paper cups (in ₹)?
24. 24.Saanvi’s income was ₹460 and the profit was ₹250. One expense was ₹120 (posters). How much was the other expense, for paper cups (in ₹)?
25. 25.Zoya’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹160 (sugar)
    Expense: ₹10 (posters)
    How much is the loss (in ₹)?
26. 26.Lakshmi’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹80 (sugar)
    Expense: ₹280 (stall fee)
    How much is the loss (in ₹)?
27. 27.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) income + expenses (d) just the income
28. 28.Nisha’s stall took in ₹210 on Friday, ₹140 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
29. 29.Which of these is an expense (money out)? (a) buying lemons (b) a card order paid (c) money from sales (d) tutoring fees received
30. 30.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
31. 31.Kavya’s income was ₹350 and the profit was ₹140. One expense was ₹140 (ribbon). How much was the other expense, for lemons (in ₹)?
32. 32.Lakshmi’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹300 (card paper)
    Expense: ₹50 (lemons)
    How much is the loss (in ₹)?
33. 33.True or false: “printing posters” is an expense (money out). (a) True (b) False
34. 34.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
35. 35.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) cash from selling plants (d) buying lemons
36. 36.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
37. 37.Rohan’s income was ₹320 and the profit was ₹240. One expense was ₹30 (posters). How much was the other expense, for sugar (in ₹)?
38. 38.Arjun’s stall took in ₹300 on Friday, ₹50 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
39. 39.Ananya’s income was ₹380 and the profit was ₹220. One expense was ₹140 (card paper). How much was the other expense, for transport (in ₹)?
40. 40.📒 Income or expense: a card order paid? (a) expense (b) income

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