Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 218 · 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) to know the real profit (b) to fill a notebook (c) no reason (d) to look busy
2. 2.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) buying paper cups (d) cash from selling plants
3. 3.Tara’s income was ₹110 and the profit was ₹40. One expense was ₹60 (sugar). How much was the other expense, for paper cups (in ₹)?
4. 4.Riya’s income was ₹480 and the profit was ₹140. One expense was ₹80 (stall fee). How much was the other expense, for paper cups (in ₹)?
5. 5.📒 Income or expense: buying paper cups? (a) income (b) expense
6. 6.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) paying the stall fee (d) a card order paid
7. 7.Saanvi’s income was ₹170 and the profit was ₹130. One expense was ₹10 (paper cups). How much was the other expense, for sugar (in ₹)?
8. 8.Kavya’s record for the day:
   Income: ₹280 (morning sales)
   Income: ₹20 (evening sales)
   Expense: ₹80 (sugar)
   Expense: ₹150 (posters)
   What is the profit (in ₹)?
9. 9.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) money from sales (d) buying lemons
10. 10.Which of these is an expense (money out)? (a) printing posters (b) a card order paid (c) cash from selling plants (d) payment for a cake order
11. 11.Rohan’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹50 (card paper)
    Expense: ₹30 (transport)
    What is the profit (in ₹)?
12. 12.📒 Income or expense: a card order paid? (a) expense (b) income
13. 13.Riya’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹140 (lemons)
    Expense: ₹130 (transport)
    What is the profit (in ₹)?
14. 14.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) income − expenses (d) just the income
15. 15.📒 Income or expense: bus fare to the market? (a) expense (b) income
16. 16.Kabir’s income was ₹170 and the profit was ₹70. One expense was ₹50 (sugar). How much was the other expense, for card paper (in ₹)?
17. 17.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
18. 18.📒 Income or expense: cash from selling plants? (a) income (b) expense
19. 19.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) nothing (d) the bill or receipt
20. 20.Which of these is an expense (money out)? (a) paying the stall fee (b) money from sales (c) cash from selling plants (d) a card order paid
21. 21.Vihaan’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹230 (posters)
    Expense: ₹80 (ribbon)
    How much is the loss (in ₹)?
22. 22.Zoya’s stall took in ₹200 on Friday, ₹390 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
23. 23.Kabir’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹100 (transport)
    Expense: ₹130 (posters)
    What is the profit (in ₹)?
24. 24.📒 Income or expense: payment for a cake order? (a) income (b) expense
25. 25.Riya’s income was ₹120 and the profit was ₹50. One expense was ₹60 (stall fee). How much was the other expense, for paper cups (in ₹)?
26. 26.Dev’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹70 (posters)
    Expense: ₹200 (sugar)
    How much is the loss (in ₹)?
27. 27.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
28. 28.True or false: “a card order paid” is an expense (money out). (a) True (b) False
29. 29.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) the same day (d) never
30. 30.True or false: “printing posters” is an expense (money out). (a) True (b) False
31. 31.Ishaan’s stall took in ₹210 on Friday, ₹260 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
32. 32.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) tutoring fees received (d) bus fare to the market
33. 33.Lakshmi’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹150 (stall fee)
    Expense: ₹80 (posters)
    What is the profit (in ₹)?
34. 34.True or false: “tutoring fees received” is income (money in). (a) False (b) True
35. 35.📒 Income or expense: printing posters? (a) expense (b) income
36. 36.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) tutoring fees received (d) printing posters
37. 37.Ishaan’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹260 (card paper)
    Expense: ₹20 (posters)
    How much is the loss (in ₹)?
38. 38.Lakshmi’s income was ₹490 and the profit was ₹110. One expense was ₹230 (paper cups). How much was the other expense, for ribbon (in ₹)?
39. 39.Lakshmi’s stall took in ₹290 on Friday, ₹370 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
40. 40.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) buying lemons (d) money from sales

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