Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 392 · 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) nothing (b) a selfie (c) the bill or receipt (d) only the bag
2. 2.➖ Profit in your records = (a) expenses − income (b) just the income (c) income + expenses (d) income − expenses
3. 3.Tara’s income was ₹370 and the profit was ₹330. One expense was ₹10 (ribbon). How much was the other expense, for posters (in ₹)?
4. 4.📅 When is the best time to update your records? (a) never (b) the same day (c) whenever you like (d) once a year
5. 5.True or false: “a card order paid” is income (money in). (a) True (b) False
6. 6.Which of these is income (money in)? (a) buying paper cups (b) money from sales (c) paying the stall fee (d) buying lemons
7. 7.Lakshmi’s record for a rainy day:
   Income: ₹290 (sales)
   Expense: ₹30 (sugar)
   Expense: ₹310 (paper cups)
   How much is the loss (in ₹)?
8. 8.📒 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
9. 9.Zoya’s income was ₹320 and the profit was ₹110. One expense was ₹200 (paper cups). How much was the other expense, for transport (in ₹)?
10. 10.Diya’s stall took in ₹390 on Friday, ₹90 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
11. 11.Tara’s stall took in ₹250 on Friday, ₹270 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
12. 12.Aarav’s stall took in ₹390 on Friday, ₹140 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
13. 13.📒 Income or expense: payment for a cake order? (a) expense (b) income
14. 14.📒 Income or expense: printing posters? (a) expense (b) income
15. 15.Diya’s stall took in ₹200 on Friday, ₹80 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
16. 16.True or false: “money from sales” is an expense (money out). (a) False (b) True
17. 17.📒 Income or expense: bus fare to the market? (a) expense (b) income
18. 18.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) cash from selling plants (d) printing posters
19. 19.True or false: “printing posters” is income (money in). (a) False (b) True
20. 20.Joseph’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹110 (stall fee)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
21. 21.Which of these is an expense (money out)? (a) printing posters (b) money from sales (c) tutoring fees received (d) cash from selling plants
22. 22.Lakshmi’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹220 (ribbon)
    How much is the loss (in ₹)?
23. 23.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
24. 24.True or false: “buying lemons” is an expense (money out). (a) False (b) True
25. 25.Lakshmi’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹140 (lemons)
    Expense: ₹20 (card paper)
    What is the profit (in ₹)?
26. 26.📒 Income or expense: money from sales? (a) expense (b) income
27. 27.Nisha’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹110 (paper cups)
    Expense: ₹50 (ribbon)
    What is the profit (in ₹)?
28. 28.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
29. 29.Rohan’s income was ₹350 and the profit was ₹70. One expense was ₹200 (lemons). How much was the other expense, for paper cups (in ₹)?
30. 30.Ishaan’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹170 (paper cups)
    Expense: ₹40 (stall fee)
    How much is the loss (in ₹)?
31. 31.Kavya’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹90 (ribbon)
    Expense: ₹100 (paper cups)
    What is the profit (in ₹)?
32. 32.Riya’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹140 (card paper)
    Expense: ₹40 (stall fee)
    How much is the loss (in ₹)?
33. 33.Diya’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹20 (ribbon)
    Expense: ₹80 (stall fee)
    What is the profit (in ₹)?
34. 34.📒 Income or expense: buying paper cups? (a) income (b) expense
35. 35.📒 Income or expense: tutoring fees received? (a) income (b) expense
36. 36.Farhan’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹200 (lemons)
    Expense: ₹200 (ribbon)
    What is the profit (in ₹)?
37. 37.Joseph’s stall took in ₹290 on Friday, ₹400 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
38. 38.True or false: “payment for a cake order” is income (money in). (a) False (b) True
39. 39.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
40. 40.Vihaan’s income was ₹490 and the profit was ₹250. One expense was ₹70 (posters). How much was the other expense, for card paper (in ₹)?

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