Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 4 · 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) never (b) the same day (c) whenever you like (d) once a year
2. 2.Meera’s stall took in ₹350 on Friday, ₹260 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
3. 3.Which of these is an expense (money out)? (a) money from sales (b) paying the stall fee (c) a card order paid (d) payment for a cake order
4. 4.Saanvi’s record for the day:
   Income: ₹210 (morning sales)
   Income: ₹50 (evening sales)
   Expense: ₹170 (transport)
   Expense: ₹60 (stall fee)
   What is the profit (in ₹)?
5. 5.Aarav’s stall took in ₹120 on Friday, ₹120 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
6. 6.📒 Income or expense: tutoring fees received? (a) expense (b) income
7. 7.Zoya’s income was ₹170 and the profit was ₹40. One expense was ₹80 (transport). How much was the other expense, for sugar (in ₹)?
8. 8.Dev’s stall took in ₹310 on Friday, ₹210 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
9. 9.Which of these is an expense (money out)? (a) bus fare to the market (b) cash from selling plants (c) payment for a cake order (d) a card order paid
10. 10.True or false: “cash from selling plants” is income (money in). (a) False (b) True
11. 11.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) the bill or receipt (d) only the bag
12. 12.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
13. 13.True or false: “printing posters” is an expense (money out). (a) True (b) False
14. 14.True or false: “money from sales” is an expense (money out). (a) False (b) True
15. 15.Nisha’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹90 (transport)
    Expense: ₹50 (lemons)
    What is the profit (in ₹)?
16. 16.📒 Income or expense: printing posters? (a) income (b) expense
17. 17.📒 Income or expense: paying the stall fee? (a) income (b) expense
18. 18.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) bus fare to the market (d) a card order paid
19. 19.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to know the real profit (d) to look busy
20. 20.True or false: “a card order paid” is an expense (money out). (a) False (b) True
21. 21.Diya’s income was ₹290 and the profit was ₹100. One expense was ₹20 (transport). How much was the other expense, for posters (in ₹)?
22. 22.True or false: “buying lemons” is an expense (money out). (a) False (b) True
23. 23.Riya’s stall took in ₹280 on Friday, ₹70 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
24. 24.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
25. 25.📒 Income or expense: payment for a cake order? (a) expense (b) income
26. 26.📒 Income or expense: buying paper cups? (a) income (b) expense
27. 27.➖ Profit in your records = (a) expenses − income (b) just the income (c) income + expenses (d) income − expenses
28. 28.Kavya’s income was ₹230 and the profit was ₹160. One expense was ₹40 (transport). How much was the other expense, for paper cups (in ₹)?
29. 29.Riya’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹80 (paper cups)
    Expense: ₹140 (lemons)
    What is the profit (in ₹)?
30. 30.Aarav’s record for the day:
    Income: ₹520 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹150 (lemons)
    Expense: ₹120 (stall fee)
    What is the profit (in ₹)?
31. 31.Rohan’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹60 (posters)
    Expense: ₹190 (paper cups)
    How much is the loss (in ₹)?
32. 32.📒 Income or expense: cash from selling plants? (a) expense (b) income
33. 33.True or false: “buying lemons” is income (money in). (a) True (b) False
34. 34.Rohan’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹90 (paper cups)
    Expense: ₹90 (card paper)
    How much is the loss (in ₹)?
35. 35.Zoya’s stall took in ₹160 on Friday, ₹60 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
36. 36.Vihaan’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹420 (evening sales)
    Expense: ₹50 (card paper)
    Expense: ₹150 (posters)
    What is the profit (in ₹)?
37. 37.Rohan’s income was ₹280 and the profit was ₹140. One expense was ₹30 (card paper). How much was the other expense, for lemons (in ₹)?
38. 38.True or false: “payment for a cake order” is income (money in). (a) True (b) False
39. 39.📒 Income or expense: money from sales? (a) income (b) expense
40. 40.Vihaan’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹30 (stall fee)
    Expense: ₹120 (ribbon)
    What is the profit (in ₹)?

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