Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 314 · 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 fill a notebook (b) no reason (c) to look busy (d) to know the real profit
2. 2.Which of these is income (money in)? (a) paying the stall fee (b) tutoring fees received (c) bus fare to the market (d) printing posters
3. 3.Kabir’s income was ₹370 and the profit was ₹70. One expense was ₹280 (transport). How much was the other expense, for card paper (in ₹)?
4. 4.Aarav’s record for a rainy day:
   Income: ₹270 (sales)
   Expense: ₹80 (paper cups)
   Expense: ₹210 (stall fee)
   How much is the loss (in ₹)?
5. 5.📒 Income or expense: bus fare to the market? (a) income (b) expense
6. 6.Ishaan’s record for the day:
   Income: ₹210 (morning sales)
   Income: ₹240 (evening sales)
   Expense: ₹200 (lemons)
   Expense: ₹160 (sugar)
   What is the profit (in ₹)?
7. 7.True or false: “tutoring fees received” is income (money in). (a) False (b) True
8. 8.Vihaan’s record for the day:
   Income: ₹280 (morning sales)
   Income: ₹30 (evening sales)
   Expense: ₹20 (paper cups)
   Expense: ₹190 (transport)
   What is the profit (in ₹)?
9. 9.Riya’s stall took in ₹60 on Friday, ₹150 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
10. 10.📒 Income or expense: cash from selling plants? (a) income (b) expense
11. 11.True or false: “buying paper cups” is income (money in). (a) True (b) False
12. 12.Vihaan’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹150 (card paper)
    Expense: ₹130 (ribbon)
    What is the profit (in ₹)?
13. 13.Riya’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹250 (paper cups)
    Expense: ₹10 (stall fee)
    How much is the loss (in ₹)?
14. 14.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
15. 15.Rohan’s stall took in ₹150 on Friday, ₹120 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
16. 16.Zoya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹150 (transport)
    Expense: ₹50 (card paper)
    What is the profit (in ₹)?
17. 17.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) buying paper cups (d) tutoring fees received
18. 18.Kavya’s income was ₹110 and the profit was ₹40. One expense was ₹10 (lemons). How much was the other expense, for card paper (in ₹)?
19. 19.Vihaan’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹50 (transport)
    Expense: ₹140 (sugar)
    How much is the loss (in ₹)?
20. 20.Meera’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹190 (lemons)
    Expense: ₹130 (transport)
    What is the profit (in ₹)?
21. 21.📒 Income or expense: buying lemons? (a) expense (b) income
22. 22.Tara’s income was ₹470 and the profit was ₹360. One expense was ₹10 (posters). How much was the other expense, for stall fee (in ₹)?
23. 23.Diya’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹200 (card paper)
    Expense: ₹130 (transport)
    How much is the loss (in ₹)?
24. 24.📒 Income or expense: payment for a cake order? (a) income (b) expense
25. 25.➖ Profit in your records = (a) expenses − income (b) just the income (c) income − expenses (d) income + expenses
26. 26.Gurpreet’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹510 (evening sales)
    Expense: ₹180 (card paper)
    Expense: ₹190 (stall fee)
    What is the profit (in ₹)?
27. 27.True or false: “cash from selling plants” is income (money in). (a) True (b) False
28. 28.Ananya’s stall took in ₹330 on Friday, ₹380 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
29. 29.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) printing posters (d) cash from selling plants
30. 30.Meera’s income was ₹160 and the profit was ₹120. One expense was ₹10 (stall fee). How much was the other expense, for card paper (in ₹)?
31. 31.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) a selfie (d) the bill or receipt
32. 32.True or false: “buying lemons” is an expense (money out). (a) True (b) False
33. 33.Meera’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹170 (transport)
    Expense: ₹100 (paper cups)
    How much is the loss (in ₹)?
34. 34.📅 When is the best time to update your records? (a) once a year (b) the same day (c) whenever you like (d) never
35. 35.True or false: “paying the stall fee” is income (money in). (a) False (b) True
36. 36.Dev’s income was ₹200 and the profit was ₹170. One expense was ₹20 (card paper). How much was the other expense, for lemons (in ₹)?
37. 37.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
38. 38.Joseph’s income was ₹480 and the profit was ₹450. One expense was ₹10 (paper cups). How much was the other expense, for ribbon (in ₹)?
39. 39.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
40. 40.Rohan’s income was ₹100 and the profit was ₹30. One expense was ₹40 (transport). How much was the other expense, for lemons (in ₹)?

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