Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 28 · 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.📒 Income or expense: tutoring fees received? (a) income (b) expense
3. 3.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) cash from selling plants (d) buying paper cups
4. 4.True or false: “money from sales” is income (money in). (a) False (b) True
5. 5.Nisha’s record for the day:
   Income: ₹140 (morning sales)
   Income: ₹40 (evening sales)
   Expense: ₹60 (stall fee)
   Expense: ₹70 (paper cups)
   What is the profit (in ₹)?
6. 6.Which of these is an expense (money out)? (a) buying paper cups (b) a card order paid (c) cash from selling plants (d) payment for a cake order
7. 7.Joseph’s record for the day:
   Income: ₹110 (morning sales)
   Income: ₹90 (evening sales)
   Expense: ₹160 (transport)
   Expense: ₹20 (card paper)
   What is the profit (in ₹)?
8. 8.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) only the bag (d) the bill or receipt
9. 9.Meera’s income was ₹210 and the profit was ₹50. One expense was ₹130 (paper cups). How much was the other expense, for transport (in ₹)?
10. 10.Which of these is income (money in)? (a) buying lemons (b) tutoring fees received (c) bus fare to the market (d) paying the stall fee
11. 11.Farhan’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹130 (stall fee)
    Expense: ₹110 (paper cups)
    What is the profit (in ₹)?
12. 12.Zoya’s stall took in ₹250 on Friday, ₹370 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
13. 13.Rohan’s income was ₹250 and the profit was ₹60. One expense was ₹50 (card paper). How much was the other expense, for posters (in ₹)?
14. 14.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) payment for a cake order (d) buying lemons
15. 15.📒 Income or expense: buying lemons? (a) income (b) expense
16. 16.True or false: “paying the stall fee” is income (money in). (a) False (b) True
17. 17.📒 Income or expense: cash from selling plants? (a) expense (b) income
18. 18.Tara’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹50 (transport)
    Expense: ₹110 (stall fee)
    How much is the loss (in ₹)?
19. 19.Farhan’s stall took in ₹70 on Friday, ₹260 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
20. 20.Meera’s stall took in ₹100 on Friday, ₹130 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
21. 21.Ananya’s stall took in ₹140 on Friday, ₹130 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
22. 22.Kabir’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹170 (paper cups)
    Expense: ₹150 (lemons)
    How much is the loss (in ₹)?
23. 23.Farhan’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹170 (ribbon)
    Expense: ₹130 (transport)
    How much is the loss (in ₹)?
24. 24.➖ Profit in your records = (a) just the income (b) income − expenses (c) income + expenses (d) expenses − income
25. 25.📅 When is the best time to update your records? (a) never (b) whenever you like (c) the same day (d) once a year
26. 26.Vihaan’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹60 (transport)
    Expense: ₹30 (sugar)
    How much is the loss (in ₹)?
27. 27.Joseph’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹130 (lemons)
    Expense: ₹40 (posters)
    What is the profit (in ₹)?
28. 28.Which of these is income (money in)? (a) a card order paid (b) bus fare to the market (c) buying lemons (d) buying paper cups
29. 29.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) bus fare to the market (d) money from sales
30. 30.Meera’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹90 (stall fee)
    Expense: ₹20 (posters)
    What is the profit (in ₹)?
31. 31.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
32. 32.Aarav’s income was ₹340 and the profit was ₹200. One expense was ₹80 (ribbon). How much was the other expense, for sugar (in ₹)?
33. 33.📒 Income or expense: buying paper cups? (a) expense (b) income
34. 34.Ishaan’s stall took in ₹350 on Friday, ₹310 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
35. 35.📒 Income or expense: printing posters? (a) income (b) expense
36. 36.Aarav’s stall took in ₹240 on Friday, ₹120 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
37. 37.Meera’s stall took in ₹270 on Friday, ₹60 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
38. 38.True or false: “cash from selling plants” is income (money in). (a) False (b) True
39. 39.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
40. 40.Dev’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹190 (lemons)
    Expense: ₹70 (ribbon)
    What is the profit (in ₹)?

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