Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 227 · 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) whenever you like (c) the same day (d) never
2. 2.📒 Income or expense: buying lemons? (a) expense (b) income
3. 3.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) income − expenses (d) just the income
4. 4.Kavya’s stall took in ₹380 on Friday, ₹290 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
5. 5.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
6. 6.Gurpreet’s income was ₹150 and the profit was ₹100. One expense was ₹30 (paper cups). How much was the other expense, for stall fee (in ₹)?
7. 7.Saanvi’s record for the day:
   Income: ₹40 (morning sales)
   Income: ₹300 (evening sales)
   Expense: ₹160 (lemons)
   Expense: ₹100 (ribbon)
   What is the profit (in ₹)?
8. 8.Which of these is an expense (money out)? (a) buying paper cups (b) payment for a cake order (c) tutoring fees received (d) a card order paid
9. 9.Which of these is an expense (money out)? (a) payment for a cake order (b) bus fare to the market (c) tutoring fees received (d) a card order paid
10. 10.True or false: “money from sales” is income (money in). (a) True (b) False
11. 11.📒 Income or expense: payment for a cake order? (a) income (b) expense
12. 12.Zoya’s stall took in ₹310 on Friday, ₹240 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
13. 13.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) money from sales (d) printing posters
14. 14.📒 Income or expense: paying the stall fee? (a) income (b) expense
15. 15.True or false: “payment for a cake order” is income (money in). (a) False (b) True
16. 16.📒 Income or expense: buying paper cups? (a) expense (b) income
17. 17.Kabir’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹20 (sugar)
    Expense: ₹80 (stall fee)
    How much is the loss (in ₹)?
18. 18.Zoya’s stall took in ₹230 on Friday, ₹120 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
19. 19.Gurpreet’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹200 (sugar)
    Expense: ₹110 (transport)
    How much is the loss (in ₹)?
20. 20.Which of these is income (money in)? (a) buying lemons (b) a card order paid (c) paying the stall fee (d) printing posters
21. 21.Ananya’s stall took in ₹230 on Friday, ₹50 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
22. 22.📒 Income or expense: money from sales? (a) expense (b) income
23. 23.📒 Income or expense: printing posters? (a) expense (b) income
24. 24.Vihaan’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹40 (sugar)
    Expense: ₹130 (ribbon)
    What is the profit (in ₹)?
25. 25.Farhan’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹20 (ribbon)
    Expense: ₹190 (transport)
    What is the profit (in ₹)?
26. 26.Vihaan’s income was ₹290 and the profit was ₹160. One expense was ₹30 (transport). How much was the other expense, for sugar (in ₹)?
27. 27.Ananya’s stall took in ₹230 on Friday, ₹230 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
28. 28.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) no reason (d) to look busy
29. 29.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) nothing (d) a selfie
30. 30.Aarav’s stall took in ₹320 on Friday, ₹220 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
31. 31.Aarav’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹170 (ribbon)
    Expense: ₹30 (lemons)
    How much is the loss (in ₹)?
32. 32.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
33. 33.Rohan’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹330 (card paper)
    Expense: ₹20 (ribbon)
    How much is the loss (in ₹)?
34. 34.Ishaan’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹210 (posters)
    Expense: ₹10 (paper cups)
    How much is the loss (in ₹)?
35. 35.Kabir’s stall took in ₹180 on Friday, ₹240 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
36. 36.Zoya’s income was ₹120 and the profit was ₹20. One expense was ₹40 (ribbon). How much was the other expense, for paper cups (in ₹)?
37. 37.True or false: “printing posters” is income (money in). (a) True (b) False
38. 38.Lakshmi’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹140 (stall fee)
    How much is the loss (in ₹)?
39. 39.True or false: “money from sales” is an expense (money out). (a) True (b) False
40. 40.Which of these is income (money in)? (a) paying the stall fee (b) money from sales (c) buying lemons (d) buying paper cups

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