Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 235 · 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 look busy (c) to fill a notebook (d) no reason
2. 2.Zoya’s stall took in ₹240 on Friday, ₹250 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
3. 3.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
4. 4.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) a card order paid (d) paying the stall fee
5. 5.Which of these is income (money in)? (a) printing posters (b) money from sales (c) buying lemons (d) paying the stall fee
6. 6.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
7. 7.True or false: “a card order paid” is income (money in). (a) False (b) True
8. 8.📒 Income or expense: bus fare to the market? (a) expense (b) income
9. 9.Arjun’s record for a rainy day:
   Income: ₹240 (sales)
   Expense: ₹80 (card paper)
   Expense: ₹210 (paper cups)
   How much is the loss (in ₹)?
10. 10.Saanvi’s stall took in ₹280 on Friday, ₹250 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
11. 11.Tara’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹20 (ribbon)
    Expense: ₹140 (card paper)
    How much is the loss (in ₹)?
12. 12.True or false: “a card order paid” is an expense (money out). (a) True (b) False
13. 13.📒 Income or expense: money from sales? (a) expense (b) income
14. 14.Riya’s stall took in ₹140 on Friday, ₹80 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
15. 15.📒 Income or expense: a card order paid? (a) expense (b) income
16. 16.Which of these is income (money in)? (a) cash from selling plants (b) buying paper cups (c) paying the stall fee (d) buying lemons
17. 17.Meera’s income was ₹300 and the profit was ₹100. One expense was ₹100 (card paper). How much was the other expense, for transport (in ₹)?
18. 18.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) only the bag (d) the bill or receipt
19. 19.Kabir’s stall took in ₹230 on Friday, ₹380 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
20. 20.Farhan’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹160 (paper cups)
    Expense: ₹130 (posters)
    How much is the loss (in ₹)?
21. 21.Ananya’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹260 (ribbon)
    Expense: ₹50 (card paper)
    How much is the loss (in ₹)?
22. 22.📅 When is the best time to update your records? (a) once a year (b) the same day (c) never (d) whenever you like
23. 23.📒 Income or expense: buying paper cups? (a) expense (b) income
24. 24.📒 Income or expense: cash from selling plants? (a) expense (b) income
25. 25.Kabir’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹130 (sugar)
    Expense: ₹20 (posters)
    What is the profit (in ₹)?
26. 26.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
27. 27.Aarav’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹20 (card paper)
    Expense: ₹170 (transport)
    How much is the loss (in ₹)?
28. 28.Saanvi’s income was ₹260 and the profit was ₹10. One expense was ₹170 (stall fee). How much was the other expense, for sugar (in ₹)?
29. 29.Diya’s income was ₹380 and the profit was ₹60. One expense was ₹240 (paper cups). How much was the other expense, for lemons (in ₹)?
30. 30.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) a card order paid (d) buying paper cups
31. 31.Ananya’s record for the day:
    Income: ₹630 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹170 (lemons)
    Expense: ₹190 (card paper)
    What is the profit (in ₹)?
32. 32.Kavya’s income was ₹490 and the profit was ₹50. One expense was ₹70 (stall fee). How much was the other expense, for posters (in ₹)?
33. 33.True or false: “printing posters” is an expense (money out). (a) False (b) True
34. 34.Riya’s income was ₹110 and the profit was ₹70. One expense was ₹10 (sugar). How much was the other expense, for transport (in ₹)?
35. 35.Zoya’s income was ₹490 and the profit was ₹330. One expense was ₹70 (stall fee). How much was the other expense, for paper cups (in ₹)?
36. 36.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) buying lemons (d) tutoring fees received
37. 37.True or false: “paying the stall fee” is income (money in). (a) True (b) False
38. 38.Nisha’s income was ₹170 and the profit was ₹60. One expense was ₹10 (transport). How much was the other expense, for lemons (in ₹)?
39. 39.True or false: “buying lemons” is an expense (money out). (a) True (b) False
40. 40.📒 Income or expense: payment for a cake order? (a) expense (b) income

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