Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 220 · 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) the same day (b) once a year (c) never (d) whenever you like
2. 2.True or false: “cash from selling plants” is income (money in). (a) False (b) True
3. 3.Joseph’s record for the day:
   Income: ₹100 (morning sales)
   Income: ₹260 (evening sales)
   Expense: ₹170 (transport)
   Expense: ₹150 (stall fee)
   What is the profit (in ₹)?
4. 4.Gurpreet’s stall took in ₹150 on Friday, ₹270 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
5. 5.Joseph’s record for a rainy day:
   Income: ₹80 (sales)
   Expense: ₹30 (ribbon)
   Expense: ₹60 (card paper)
   How much is the loss (in ₹)?
6. 6.📒 Income or expense: cash from selling plants? (a) expense (b) income
7. 7.📒 Income or expense: money from sales? (a) expense (b) income
8. 8.📒 Income or expense: paying the stall fee? (a) income (b) expense
9. 9.Meera’s record for the day:
   Income: ₹30 (morning sales)
   Income: ₹160 (evening sales)
   Expense: ₹20 (transport)
   Expense: ₹50 (posters)
   What is the profit (in ₹)?
10. 10.True or false: “printing posters” is an expense (money out). (a) False (b) True
11. 11.Arjun’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹110 (card paper)
    Expense: ₹60 (lemons)
    What is the profit (in ₹)?
12. 12.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
13. 13.Riya’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹140 (sugar)
    Expense: ₹70 (posters)
    What is the profit (in ₹)?
14. 14.Which of these is an expense (money out)? (a) payment for a cake order (b) buying lemons (c) money from sales (d) cash from selling plants
15. 15.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
16. 16.True or false: “buying paper cups” is income (money in). (a) False (b) True
17. 17.Farhan’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹190 (paper cups)
    Expense: ₹170 (stall fee)
    How much is the loss (in ₹)?
18. 18.Farhan’s stall took in ₹230 on Friday, ₹170 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
19. 19.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) bus fare to the market (d) money from sales
20. 20.Saanvi’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹280 (transport)
    Expense: ₹110 (card paper)
    How much is the loss (in ₹)?
21. 21.Meera’s stall took in ₹160 on Friday, ₹90 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
22. 22.Which of these is an expense (money out)? (a) buying paper cups (b) a card order paid (c) cash from selling plants (d) money from sales
23. 23.Meera’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹180 (posters)
    Expense: ₹100 (lemons)
    How much is the loss (in ₹)?
24. 24.Kavya’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹20 (ribbon)
    Expense: ₹170 (posters)
    How much is the loss (in ₹)?
25. 25.Meera’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹260 (posters)
    Expense: ₹120 (paper cups)
    How much is the loss (in ₹)?
26. 26.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to fill a notebook (d) to look busy
27. 27.Meera’s income was ₹350 and the profit was ₹230. One expense was ₹30 (lemons). How much was the other expense, for sugar (in ₹)?
28. 28.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
29. 29.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) buying lemons (d) cash from selling plants
30. 30.Diya’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹40 (paper cups)
    Expense: ₹130 (stall fee)
    How much is the loss (in ₹)?
31. 31.📒 Income or expense: buying paper cups? (a) expense (b) income
32. 32.Arjun’s income was ₹320 and the profit was ₹130. One expense was ₹30 (ribbon). How much was the other expense, for paper cups (in ₹)?
33. 33.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
34. 34.Kabir’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹100 (posters)
    What is the profit (in ₹)?
35. 35.True or false: “printing posters” is income (money in). (a) False (b) True
36. 36.Zoya’s income was ₹210 and the profit was ₹80. One expense was ₹100 (posters). How much was the other expense, for stall fee (in ₹)?
37. 37.Joseph’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹160 (card paper)
    Expense: ₹100 (sugar)
    How much is the loss (in ₹)?
38. 38.Ishaan’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹10 (transport)
    Expense: ₹90 (card paper)
    How much is the loss (in ₹)?
39. 39.📒 Income or expense: buying lemons? (a) expense (b) income
40. 40.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) payment for a cake order (d) buying lemons

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