Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 384 · 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.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) the bill or receipt (d) only the bag
2. 2.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) to fill a notebook (d) no reason
3. 3.📒 Income or expense: buying lemons? (a) income (b) expense
4. 4.📒 Income or expense: money from sales? (a) income (b) expense
5. 5.Gurpreet’s income was ₹370 and the profit was ₹280. One expense was ₹40 (lemons). How much was the other expense, for posters (in ₹)?
6. 6.Dev’s record for the day:
   Income: ₹190 (morning sales)
   Income: ₹60 (evening sales)
   Expense: ₹110 (card paper)
   Expense: ₹20 (sugar)
   What is the profit (in ₹)?
7. 7.📒 Income or expense: a card order paid? (a) expense (b) income
8. 8.Ishaan’s income was ₹500 and the profit was ₹280. One expense was ₹50 (transport). How much was the other expense, for paper cups (in ₹)?
9. 9.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) cash from selling plants (d) printing posters
10. 10.True or false: “a card order paid” is income (money in). (a) False (b) True
11. 11.📒 Income or expense: buying paper cups? (a) expense (b) income
12. 12.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) money from sales (d) buying lemons
13. 13.True or false: “bus fare to the market” is income (money in). (a) False (b) True
14. 14.True or false: “buying lemons” is income (money in). (a) True (b) False
15. 15.Meera’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹50 (stall fee)
    Expense: ₹210 (lemons)
    How much is the loss (in ₹)?
16. 16.Rohan’s income was ₹280 and the profit was ₹190. One expense was ₹30 (lemons). How much was the other expense, for ribbon (in ₹)?
17. 17.Tara’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹20 (stall fee)
    Expense: ₹270 (ribbon)
    How much is the loss (in ₹)?
18. 18.True or false: “cash from selling plants” is income (money in). (a) True (b) False
19. 19.Farhan’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹130 (paper cups)
    Expense: ₹100 (transport)
    What is the profit (in ₹)?
20. 20.Lakshmi’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹120 (lemons)
    Expense: ₹60 (sugar)
    How much is the loss (in ₹)?
21. 21.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
22. 22.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) paying the stall fee (d) a card order paid
23. 23.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
24. 24.True or false: “buying paper cups” is income (money in). (a) True (b) False
25. 25.Gurpreet’s income was ₹130 and the profit was ₹80. One expense was ₹40 (transport). How much was the other expense, for ribbon (in ₹)?
26. 26.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) payment for a cake order (d) printing posters
27. 27.Zoya’s income was ₹200 and the profit was ₹150. One expense was ₹30 (stall fee). How much was the other expense, for posters (in ₹)?
28. 28.Kavya’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹60 (transport)
    Expense: ₹20 (lemons)
    How much is the loss (in ₹)?
29. 29.Nisha’s income was ₹180 and the profit was ₹100. One expense was ₹70 (lemons). How much was the other expense, for posters (in ₹)?
30. 30.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) printing posters (d) money from sales
31. 31.True or false: “money from sales” is an expense (money out). (a) True (b) False
32. 32.True or false: “payment for a cake order” is income (money in). (a) False (b) True
33. 33.📒 Income or expense: bus fare to the market? (a) expense (b) income
34. 34.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
35. 35.📒 Income or expense: payment for a cake order? (a) expense (b) income
36. 36.Ananya’s stall took in ₹50 on Friday, ₹70 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
37. 37.Dev’s income was ₹130 and the profit was ₹110. One expense was ₹10 (ribbon). How much was the other expense, for lemons (in ₹)?
38. 38.Rohan’s income was ₹180 and the profit was ₹70. One expense was ₹50 (lemons). How much was the other expense, for paper cups (in ₹)?
39. 39.Ishaan’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹60 (lemons)
    Expense: ₹220 (stall fee)
    How much is the loss (in ₹)?
40. 40.True or false: “printing posters” is an expense (money out). (a) False (b) True

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