Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 401 · 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.Nisha’s income was ₹110 and the profit was ₹70. One expense was ₹10 (paper cups). How much was the other expense, for card paper (in ₹)?
2. 2.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
3. 3.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
4. 4.Ananya’s record for a rainy day:
   Income: ₹170 (sales)
   Expense: ₹20 (lemons)
   Expense: ₹240 (posters)
   How much is the loss (in ₹)?
5. 5.📒 Income or expense: buying lemons? (a) expense (b) income
6. 6.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) nothing (d) only the bag
7. 7.📅 When is the best time to update your records? (a) never (b) whenever you like (c) the same day (d) once a year
8. 8.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) tutoring fees received (d) bus fare to the market
9. 9.Farhan’s stall took in ₹210 on Friday, ₹100 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
10. 10.Vihaan’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹190 (sugar)
    Expense: ₹30 (card paper)
    What is the profit (in ₹)?
11. 11.Tara’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹20 (transport)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
12. 12.True or false: “buying lemons” is an expense (money out). (a) True (b) False
13. 13.True or false: “bus fare to the market” is income (money in). (a) False (b) True
14. 14.➖ Profit in your records = (a) income + expenses (b) just the income (c) expenses − income (d) income − expenses
15. 15.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) tutoring fees received (d) printing posters
16. 16.📒 Income or expense: printing posters? (a) expense (b) income
17. 17.Diya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹40 (sugar)
    What is the profit (in ₹)?
18. 18.Which of these is an expense (money out)? (a) paying the stall fee (b) a card order paid (c) tutoring fees received (d) money from sales
19. 19.Lakshmi’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹70 (transport)
    Expense: ₹100 (lemons)
    What is the profit (in ₹)?
20. 20.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) buying lemons (d) payment for a cake order
21. 21.Aarav’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹110 (card paper)
    Expense: ₹70 (stall fee)
    What is the profit (in ₹)?
22. 22.True or false: “a card order paid” is income (money in). (a) True (b) False
23. 23.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
24. 24.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) money from sales (d) buying lemons
25. 25.Saanvi’s income was ₹260 and the profit was ₹60. One expense was ₹120 (paper cups). How much was the other expense, for lemons (in ₹)?
26. 26.Saanvi’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹380 (evening sales)
    Expense: ₹180 (sugar)
    Expense: ₹90 (card paper)
    What is the profit (in ₹)?
27. 27.Saanvi’s stall took in ₹260 on Friday, ₹130 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
28. 28.Gurpreet’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹280 (lemons)
    Expense: ₹10 (card paper)
    How much is the loss (in ₹)?
29. 29.Vihaan’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹100 (paper cups)
    Expense: ₹90 (ribbon)
    What is the profit (in ₹)?
30. 30.True or false: “a card order paid” is an expense (money out). (a) False (b) True
31. 31.📒 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
32. 32.📒 Income or expense: buying paper cups? (a) income (b) expense
33. 33.Rohan’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹110 (lemons)
    Expense: ₹110 (ribbon)
    What is the profit (in ₹)?
34. 34.Tara’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹150 (lemons)
    Expense: ₹20 (stall fee)
    What is the profit (in ₹)?
35. 35.Rohan’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹60 (ribbon)
    Expense: ₹20 (card paper)
    How much is the loss (in ₹)?
36. 36.Meera’s income was ₹480 and the profit was ₹80. One expense was ₹230 (stall fee). How much was the other expense, for lemons (in ₹)?
37. 37.Diya’s stall took in ₹110 on Friday, ₹230 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
38. 38.Kabir’s income was ₹220 and the profit was ₹130. One expense was ₹40 (posters). How much was the other expense, for paper cups (in ₹)?
39. 39.📒 Income or expense: paying the stall fee? (a) income (b) expense
40. 40.Ishaan’s stall took in ₹80 on Friday, ₹360 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?

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