Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 20 · 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.Kabir’s record for the day:
   Income: ₹330 (morning sales)
   Income: ₹110 (evening sales)
   Expense: ₹100 (stall fee)
   Expense: ₹70 (lemons)
   What is the profit (in ₹)?
2. 2.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
3. 3.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to know the real profit (d) to fill a notebook
4. 4.Farhan’s stall took in ₹190 on Friday, ₹190 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
5. 5.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) paying the stall fee (d) cash from selling plants
6. 6.Arjun’s stall took in ₹310 on Friday, ₹110 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
7. 7.➖ Profit in your records = (a) just the income (b) income + expenses (c) income − expenses (d) expenses − income
8. 8.📒 Income or expense: paying the stall fee? (a) income (b) expense
9. 9.True or false: “buying lemons” is income (money in). (a) False (b) True
10. 10.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) never (d) once a year
11. 11.Which of these is income (money in)? (a) buying paper cups (b) tutoring fees received (c) printing posters (d) paying the stall fee
12. 12.True or false: “payment for a cake order” is income (money in). (a) True (b) False
13. 13.True or false: “money from sales” is an expense (money out). (a) False (b) True
14. 14.Zoya’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹160 (transport)
    Expense: ₹100 (sugar)
    How much is the loss (in ₹)?
15. 15.Aarav’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹120 (paper cups)
    Expense: ₹150 (stall fee)
    How much is the loss (in ₹)?
16. 16.Nisha’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹110 (ribbon)
    Expense: ₹160 (card paper)
    How much is the loss (in ₹)?
17. 17.Diya’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹90 (card paper)
    Expense: ₹170 (stall fee)
    What is the profit (in ₹)?
18. 18.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) the bill or receipt (d) nothing
19. 19.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) cash from selling plants (d) printing posters
20. 20.Rohan’s stall took in ₹100 on Friday, ₹100 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
21. 21.Ishaan’s stall took in ₹360 on Friday, ₹100 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
22. 22.True or false: “a card order paid” is an expense (money out). (a) True (b) False
23. 23.Gurpreet’s stall took in ₹400 on Friday, ₹110 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
24. 24.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) buying paper cups (d) a card order paid
25. 25.Which of these is an expense (money out)? (a) bus fare to the market (b) payment for a cake order (c) a card order paid (d) money from sales
26. 26.Saanvi’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹110 (stall fee)
    Expense: ₹30 (paper cups)
    What is the profit (in ₹)?
27. 27.Dev’s stall took in ₹290 on Friday, ₹160 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
28. 28.True or false: “paying the stall fee” is income (money in). (a) True (b) False
29. 29.Joseph’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹60 (stall fee)
    Expense: ₹150 (lemons)
    What is the profit (in ₹)?
30. 30.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) payment for a cake order (d) buying paper cups
31. 31.True or false: “money from sales” is income (money in). (a) False (b) True
32. 32.Meera’s income was ₹110 and the profit was ₹20. One expense was ₹10 (transport). How much was the other expense, for ribbon (in ₹)?
33. 33.Gurpreet’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹50 (stall fee)
    Expense: ₹30 (lemons)
    What is the profit (in ₹)?
34. 34.Rohan’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹10 (sugar)
    Expense: ₹280 (paper cups)
    How much is the loss (in ₹)?
35. 35.Zoya’s stall took in ₹220 on Friday, ₹260 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
36. 36.📒 Income or expense: money from sales? (a) income (b) expense
37. 37.Zoya’s stall took in ₹280 on Friday, ₹100 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
38. 38.Tara’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹100 (stall fee)
    Expense: ₹160 (ribbon)
    How much is the loss (in ₹)?
39. 39.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) buying lemons (d) payment for a cake order
40. 40.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True

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