Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 204 · 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) once a year (b) the same day (c) never (d) whenever you like
2. 2.True or false: “paying the stall fee” is income (money in). (a) False (b) True
3. 3.📒 Income or expense: money from sales? (a) expense (b) income
4. 4.True or false: “money from sales” is an expense (money out). (a) False (b) True
5. 5.Saanvi’s record for a rainy day:
   Income: ₹140 (sales)
   Expense: ₹50 (posters)
   Expense: ₹100 (paper cups)
   How much is the loss (in ₹)?
6. 6.📒 Income or expense: tutoring fees received? (a) expense (b) income
7. 7.📒 Income or expense: cash from selling plants? (a) income (b) expense
8. 8.Rohan’s record for a rainy day:
   Income: ₹210 (sales)
   Expense: ₹240 (stall fee)
   Expense: ₹20 (transport)
   How much is the loss (in ₹)?
9. 9.Which of these is income (money in)? (a) payment for a cake order (b) bus fare to the market (c) printing posters (d) buying paper cups
10. 10.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) tutoring fees received (d) printing posters
11. 11.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
12. 12.True or false: “tutoring fees received” is income (money in). (a) False (b) True
13. 13.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) bus fare to the market (d) money from sales
14. 14.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) no reason (d) to fill a notebook
15. 15.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) expenses − income (d) just the income
16. 16.Kabir’s stall took in ₹60 on Friday, ₹100 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
17. 17.Kavya’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹40 (stall fee)
    Expense: ₹110 (paper cups)
    What is the profit (in ₹)?
18. 18.Which of these is an expense (money out)? (a) payment for a cake order (b) paying the stall fee (c) a card order paid (d) cash from selling plants
19. 19.Kabir’s stall took in ₹150 on Friday, ₹310 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
20. 20.Ishaan’s stall took in ₹390 on Friday, ₹290 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
21. 21.True or false: “a card order paid” is income (money in). (a) False (b) True
22. 22.True or false: “buying lemons” is an expense (money out). (a) False (b) True
23. 23.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) a selfie (d) only the bag
24. 24.Ananya’s stall took in ₹130 on Friday, ₹90 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
25. 25.Which of these is income (money in)? (a) money from sales (b) paying the stall fee (c) buying paper cups (d) printing posters
26. 26.Ishaan’s stall took in ₹380 on Friday, ₹140 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
27. 27.Saanvi’s stall took in ₹210 on Friday, ₹270 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
28. 28.Lakshmi’s stall took in ₹140 on Friday, ₹380 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
29. 29.True or false: “buying paper cups” is income (money in). (a) True (b) False
30. 30.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
31. 31.Gurpreet’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹170 (card paper)
    Expense: ₹110 (transport)
    What is the profit (in ₹)?
32. 32.Which of these is income (money in)? (a) buying lemons (b) tutoring fees received (c) printing posters (d) buying paper cups
33. 33.📒 Income or expense: buying lemons? (a) income (b) expense
34. 34.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
35. 35.Ishaan’s record for the day:
    Income: ₹360 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹50 (transport)
    Expense: ₹170 (ribbon)
    What is the profit (in ₹)?
36. 36.Arjun’s stall took in ₹340 on Friday, ₹380 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
37. 37.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) buying lemons (d) a card order paid
38. 38.Gurpreet’s stall took in ₹130 on Friday, ₹220 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
39. 39.Vihaan’s stall took in ₹330 on Friday, ₹90 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
40. 40.Saanvi’s income was ₹370 and the profit was ₹30. One expense was ₹210 (paper cups). How much was the other expense, for transport (in ₹)?

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