Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 375 · 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.📅 When is the best time to update your records? (a) whenever you like (b) never (c) the same day (d) once a year
2. 2.Meera’s record for the day:
   Income: ₹110 (morning sales)
   Income: ₹170 (evening sales)
   Expense: ₹60 (card paper)
   Expense: ₹50 (ribbon)
   What is the profit (in ₹)?
3. 3.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) only the bag (d) a selfie
4. 4.📒 Income or expense: money from sales? (a) expense (b) income
5. 5.Which of these is income (money in)? (a) a card order paid (b) buying lemons (c) paying the stall fee (d) bus fare to the market
6. 6.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) cash from selling plants (d) buying lemons
7. 7.Meera’s record for a rainy day:
   Income: ₹270 (sales)
   Expense: ₹210 (paper cups)
   Expense: ₹120 (lemons)
   How much is the loss (in ₹)?
8. 8.True or false: “tutoring fees received” is income (money in). (a) False (b) True
9. 9.Rohan’s stall took in ₹330 on Friday, ₹390 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
10. 10.📒 Income or expense: bus fare to the market? (a) expense (b) income
11. 11.➖ Profit in your records = (a) income − expenses (b) just the income (c) expenses − income (d) income + expenses
12. 12.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
13. 13.Zoya’s income was ₹250 and the profit was ₹120. One expense was ₹10 (stall fee). How much was the other expense, for paper cups (in ₹)?
14. 14.Rohan’s income was ₹170 and the profit was ₹110. One expense was ₹10 (posters). How much was the other expense, for sugar (in ₹)?
15. 15.Zoya’s stall took in ₹310 on Friday, ₹340 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
16. 16.Arjun’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹10 (posters)
    Expense: ₹130 (ribbon)
    How much is the loss (in ₹)?
17. 17.Nisha’s stall took in ₹180 on Friday, ₹350 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
18. 18.True or false: “buying paper cups” is income (money in). (a) True (b) False
19. 19.Aarav’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹30 (sugar)
    Expense: ₹60 (paper cups)
    How much is the loss (in ₹)?
20. 20.📒 Income or expense: tutoring fees received? (a) income (b) expense
21. 21.True or false: “printing posters” is an expense (money out). (a) True (b) False
22. 22.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
23. 23.True or false: “bus fare to the market” is income (money in). (a) True (b) False
24. 24.Farhan’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹170 (posters)
    Expense: ₹170 (ribbon)
    How much is the loss (in ₹)?
25. 25.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
26. 26.Nisha’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹350 (lemons)
    Expense: ₹20 (sugar)
    How much is the loss (in ₹)?
27. 27.True or false: “buying lemons” is income (money in). (a) False (b) True
28. 28.Which of these is an expense (money out)? (a) bus fare to the market (b) tutoring fees received (c) a card order paid (d) payment for a cake order
29. 29.Lakshmi’s stall took in ₹190 on Friday, ₹120 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
30. 30.Tara’s stall took in ₹330 on Friday, ₹200 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
31. 31.Diya’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹70 (posters)
    Expense: ₹100 (transport)
    What is the profit (in ₹)?
32. 32.True or false: “money from sales” is an expense (money out). (a) True (b) False
33. 33.Kabir’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹120 (stall fee)
    Expense: ₹80 (card paper)
    What is the profit (in ₹)?
34. 34.Rohan’s stall took in ₹190 on Friday, ₹260 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
35. 35.📒 Income or expense: printing posters? (a) income (b) expense
36. 36.Gurpreet’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹100 (sugar)
    Expense: ₹200 (posters)
    How much is the loss (in ₹)?
37. 37.Ananya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹170 (ribbon)
    What is the profit (in ₹)?
38. 38.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) to know the real profit (d) no reason
39. 39.Saanvi’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹90 (transport)
    Expense: ₹140 (posters)
    How much is the loss (in ₹)?
40. 40.Kabir’s stall took in ₹170 on Friday, ₹270 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?

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