Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 304 · 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 look busy (b) to fill a notebook (c) no reason (d) to know the real profit
2. 2.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) nothing (d) the bill or receipt
3. 3.Joseph’s stall took in ₹310 on Friday, ₹80 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
4. 4.Farhan’s record for the day:
   Income: ₹250 (morning sales)
   Income: ₹130 (evening sales)
   Expense: ₹200 (sugar)
   Expense: ₹120 (stall fee)
   What is the profit (in ₹)?
5. 5.Lakshmi’s record for the day:
   Income: ₹150 (morning sales)
   Income: ₹390 (evening sales)
   Expense: ₹120 (transport)
   Expense: ₹120 (paper cups)
   What is the profit (in ₹)?
6. 6.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) money from sales (d) paying the stall fee
7. 7.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) printing posters (d) tutoring fees received
8. 8.True or false: “buying paper cups” is income (money in). (a) True (b) False
9. 9.Gurpreet’s record for the day:
   Income: ₹120 (morning sales)
   Income: ₹170 (evening sales)
   Expense: ₹70 (card paper)
   Expense: ₹50 (transport)
   What is the profit (in ₹)?
10. 10.Rohan’s stall took in ₹230 on Friday, ₹370 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
11. 11.Kabir’s income was ₹100 and the profit was ₹20. One expense was ₹60 (ribbon). How much was the other expense, for posters (in ₹)?
12. 12.📒 Income or expense: buying lemons? (a) expense (b) income
13. 13.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) income + expenses (d) just the income
14. 14.Dev’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹30 (transport)
    Expense: ₹110 (ribbon)
    How much is the loss (in ₹)?
15. 15.Tara’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹20 (card paper)
    Expense: ₹340 (lemons)
    How much is the loss (in ₹)?
16. 16.True or false: “cash from selling plants” is income (money in). (a) False (b) True
17. 17.Gurpreet’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹140 (ribbon)
    Expense: ₹200 (posters)
    What is the profit (in ₹)?
18. 18.📒 Income or expense: money from sales? (a) expense (b) income
19. 19.📒 Income or expense: payment for a cake order? (a) expense (b) income
20. 20.Tara’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹40 (sugar)
    Expense: ₹90 (card paper)
    How much is the loss (in ₹)?
21. 21.Aarav’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹200 (sugar)
    Expense: ₹30 (posters)
    What is the profit (in ₹)?
22. 22.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) buying lemons (d) a card order paid
23. 23.Riya’s income was ₹100 and the profit was ₹70. One expense was ₹20 (stall fee). How much was the other expense, for paper cups (in ₹)?
24. 24.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) cash from selling plants (d) buying lemons
25. 25.📒 Income or expense: tutoring fees received? (a) expense (b) income
26. 26.True or false: “a card order paid” is an expense (money out). (a) False (b) True
27. 27.Ananya’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹10 (stall fee)
    Expense: ₹220 (lemons)
    How much is the loss (in ₹)?
28. 28.Arjun’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹120 (ribbon)
    Expense: ₹160 (card paper)
    What is the profit (in ₹)?
29. 29.Joseph’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹60 (sugar)
    Expense: ₹110 (card paper)
    What is the profit (in ₹)?
30. 30.True or false: “a card order paid” is income (money in). (a) False (b) True
31. 31.Vihaan’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹230 (stall fee)
    Expense: ₹60 (posters)
    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.📒 Income or expense: paying the stall fee? (a) income (b) expense
34. 34.📅 When is the best time to update your records? (a) the same day (b) never (c) whenever you like (d) once a year
35. 35.Meera’s stall took in ₹110 on Friday, ₹160 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
36. 36.Dev’s income was ₹150 and the profit was ₹130. One expense was ₹10 (posters). How much was the other expense, for stall fee (in ₹)?
37. 37.Which of these is an expense (money out)? (a) bus fare to the market (b) payment for a cake order (c) a card order paid (d) cash from selling plants
38. 38.Diya’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹70 (posters)
    Expense: ₹120 (stall fee)
    How much is the loss (in ₹)?
39. 39.Gurpreet’s income was ₹330 and the profit was ₹20. One expense was ₹140 (transport). How much was the other expense, for stall fee (in ₹)?
40. 40.📒 Income or expense: printing posters? (a) expense (b) income

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