Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 361 · 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.Which of these is an expense (money out)? (a) cash from selling plants (b) buying lemons (c) payment for a cake order (d) money from sales
2. 2.Aarav’s stall took in ₹80 on Friday, ₹80 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
3. 3.True or false: “paying the stall fee” is income (money in). (a) False (b) True
4. 4.Tara’s record for a rainy day:
   Income: ₹140 (sales)
   Expense: ₹70 (ribbon)
   Expense: ₹90 (transport)
   How much is the loss (in ₹)?
5. 5.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) nothing (d) only the bag
6. 6.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
7. 7.True or false: “money from sales” is an expense (money out). (a) True (b) False
8. 8.Joseph’s stall took in ₹50 on Friday, ₹350 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
9. 9.Tara’s income was ₹440 and the profit was ₹410. One expense was ₹10 (posters). How much was the other expense, for sugar (in ₹)?
10. 10.Arjun’s income was ₹240 and the profit was ₹40. One expense was ₹150 (card paper). How much was the other expense, for lemons (in ₹)?
11. 11.Aarav’s stall took in ₹80 on Friday, ₹120 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
12. 12.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
13. 13.📒 Income or expense: buying lemons? (a) income (b) expense
14. 14.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) to look busy (d) no reason
15. 15.📒 Income or expense: bus fare to the market? (a) income (b) expense
16. 16.📒 Income or expense: tutoring fees received? (a) expense (b) income
17. 17.Ishaan’s income was ₹280 and the profit was ₹190. One expense was ₹40 (sugar). How much was the other expense, for ribbon (in ₹)?
18. 18.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) just the income (d) income − expenses
19. 19.Kabir’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹130 (paper cups)
    Expense: ₹60 (transport)
    How much is the loss (in ₹)?
20. 20.📅 When is the best time to update your records? (a) never (b) whenever you like (c) the same day (d) once a year
21. 21.Dev’s income was ₹360 and the profit was ₹220. One expense was ₹10 (stall fee). How much was the other expense, for transport (in ₹)?
22. 22.Meera’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹80 (stall fee)
    Expense: ₹90 (ribbon)
    What is the profit (in ₹)?
23. 23.📒 Income or expense: printing posters? (a) income (b) expense
24. 24.Arjun’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹70 (paper cups)
    Expense: ₹110 (lemons)
    How much is the loss (in ₹)?
25. 25.Gurpreet’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹200 (transport)
    Expense: ₹10 (posters)
    How much is the loss (in ₹)?
26. 26.Dev’s income was ₹180 and the profit was ₹10. One expense was ₹40 (paper cups). How much was the other expense, for lemons (in ₹)?
27. 27.📒 Income or expense: money from sales? (a) income (b) expense
28. 28.Kavya’s record for the day:
    Income: ₹360 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹160 (lemons)
    Expense: ₹90 (stall fee)
    What is the profit (in ₹)?
29. 29.Saanvi’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹60 (transport)
    Expense: ₹130 (card paper)
    What is the profit (in ₹)?
30. 30.True or false: “payment for a cake order” is income (money in). (a) False (b) True
31. 31.Tara’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹80 (sugar)
    Expense: ₹80 (posters)
    How much is the loss (in ₹)?
32. 32.Dev’s stall took in ₹400 on Friday, ₹260 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
33. 33.Gurpreet’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹430 (evening sales)
    Expense: ₹140 (lemons)
    Expense: ₹30 (posters)
    What is the profit (in ₹)?
34. 34.Tara’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹50 (transport)
    Expense: ₹100 (sugar)
    What is the profit (in ₹)?
35. 35.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) money from sales (d) buying lemons
36. 36.Aarav’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹150 (transport)
    Expense: ₹160 (paper cups)
    What is the profit (in ₹)?
37. 37.📒 Income or expense: a card order paid? (a) expense (b) income
38. 38.Joseph’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹10 (sugar)
    Expense: ₹110 (posters)
    How much is the loss (in ₹)?
39. 39.True or false: “bus fare to the market” is income (money in). (a) True (b) False
40. 40.True or false: “printing posters” is income (money in). (a) False (b) True

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