Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 368 · 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.Kabir’s stall took in ₹160 on Friday, ₹170 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
3. 3.Ishaan’s record for a rainy day:
   Income: ₹90 (sales)
   Expense: ₹50 (paper cups)
   Expense: ₹50 (transport)
   How much is the loss (in ₹)?
4. 4.Lakshmi’s stall took in ₹60 on Friday, ₹230 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
5. 5.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) money from sales (d) buying paper cups
6. 6.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) buying lemons (d) a card order paid
7. 7.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) buying paper cups (d) tutoring fees received
8. 8.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) a card order paid (d) printing posters
9. 9.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) a card order paid (d) paying the stall fee
10. 10.📅 When is the best time to update your records? (a) never (b) the same day (c) whenever you like (d) once a year
11. 11.True or false: “buying paper cups” is income (money in). (a) False (b) True
12. 12.Which of these is income (money in)? (a) tutoring fees received (b) bus fare to the market (c) buying lemons (d) paying the stall fee
13. 13.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
14. 14.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
15. 15.Zoya’s income was ₹100 and the profit was ₹30. One expense was ₹60 (lemons). How much was the other expense, for card paper (in ₹)?
16. 16.Dev’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹50 (sugar)
    Expense: ₹170 (card paper)
    What is the profit (in ₹)?
17. 17.Which of these is income (money in)? (a) bus fare to the market (b) cash from selling plants (c) buying lemons (d) buying paper cups
18. 18.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) nothing (d) the bill or receipt
19. 19.➖ Profit in your records = (a) income + expenses (b) just the income (c) income − expenses (d) expenses − income
20. 20.Riya’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹170 (lemons)
    Expense: ₹70 (ribbon)
    What is the profit (in ₹)?
21. 21.Gurpreet’s stall took in ₹60 on Friday, ₹180 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
22. 22.📒 Income or expense: tutoring fees received? (a) expense (b) income
23. 23.True or false: “money from sales” is an expense (money out). (a) True (b) False
24. 24.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) payment for a cake order (d) printing posters
25. 25.Rohan’s stall took in ₹180 on Friday, ₹320 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
26. 26.Ishaan’s stall took in ₹330 on Friday, ₹130 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
27. 27.Tara’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹130 (stall fee)
    Expense: ₹20 (posters)
    How much is the loss (in ₹)?
28. 28.Nisha’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹120 (posters)
    Expense: ₹60 (transport)
    What is the profit (in ₹)?
29. 29.Zoya’s income was ₹320 and the profit was ₹230. One expense was ₹30 (posters). How much was the other expense, for card paper (in ₹)?
30. 30.📒 Income or expense: printing posters? (a) income (b) expense
31. 31.Saanvi’s stall took in ₹150 on Friday, ₹160 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
32. 32.True or false: “payment for a cake order” is income (money in). (a) True (b) False
33. 33.Meera’s stall took in ₹130 on Friday, ₹360 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
34. 34.True or false: “bus fare to the market” is income (money in). (a) True (b) False
35. 35.True or false: “a card order paid” is an expense (money out). (a) True (b) False
36. 36.Nisha’s stall took in ₹90 on Friday, ₹250 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
37. 37.Aarav’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹210 (paper cups)
    Expense: ₹100 (ribbon)
    How much is the loss (in ₹)?
38. 38.Gurpreet’s income was ₹140 and the profit was ₹10. One expense was ₹90 (posters). How much was the other expense, for transport (in ₹)?
39. 39.📒 Income or expense: money from sales? (a) income (b) expense
40. 40.📒 Income or expense: bus fare to the market? (a) expense (b) income

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