Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 406 · 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.📒 Income or expense: a card order paid? (a) income (b) expense
2. 2.📒 Income or expense: printing posters? (a) expense (b) income
3. 3.Kavya’s income was ₹400 and the profit was ₹140. One expense was ₹180 (stall fee). How much was the other expense, for ribbon (in ₹)?
4. 4.📒 Income or expense: buying lemons? (a) income (b) expense
5. 5.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
6. 6.Which of these is income (money in)? (a) tutoring fees received (b) paying the stall fee (c) printing posters (d) buying paper cups
7. 7.Gurpreet’s record for the day:
   Income: ₹330 (morning sales)
   Income: ₹130 (evening sales)
   Expense: ₹90 (stall fee)
   Expense: ₹70 (sugar)
   What is the profit (in ₹)?
8. 8.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
9. 9.📒 Income or expense: money from sales? (a) expense (b) income
10. 10.True or false: “bus fare to the market” is income (money in). (a) True (b) False
11. 11.Farhan’s income was ₹100 and the profit was ₹80. One expense was ₹10 (lemons). How much was the other expense, for stall fee (in ₹)?
12. 12.📒 Income or expense: payment for a cake order? (a) income (b) expense
13. 13.Lakshmi’s record for the day:
    Income: ₹390 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹160 (card paper)
    Expense: ₹140 (paper cups)
    What is the profit (in ₹)?
14. 14.Kavya’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹40 (paper cups)
    Expense: ₹140 (sugar)
    How much is the loss (in ₹)?
15. 15.Rohan’s stall took in ₹90 on Friday, ₹70 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
16. 16.Dev’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹180 (stall fee)
    Expense: ₹60 (posters)
    What is the profit (in ₹)?
17. 17.Which of these is an expense (money out)? (a) buying lemons (b) a card order paid (c) tutoring fees received (d) payment for a cake order
18. 18.Arjun’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹90 (transport)
    Expense: ₹210 (lemons)
    How much is the loss (in ₹)?
19. 19.Which of these is an expense (money out)? (a) bus fare to the market (b) payment for a cake order (c) tutoring fees received (d) a card order paid
20. 20.True or false: “payment for a cake order” is income (money in). (a) False (b) True
21. 21.Kabir’s stall took in ₹150 on Friday, ₹260 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
22. 22.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
23. 23.True or false: “cash from selling plants” is income (money in). (a) False (b) True
24. 24.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) paying the stall fee (d) money from sales
25. 25.Kabir’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹50 (posters)
    Expense: ₹50 (stall fee)
    What is the profit (in ₹)?
26. 26.Dev’s stall took in ₹100 on Friday, ₹160 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
27. 27.Dev’s stall took in ₹60 on Friday, ₹390 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
28. 28.Riya’s stall took in ₹230 on Friday, ₹250 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
29. 29.Gurpreet’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹130 (lemons)
    Expense: ₹50 (paper cups)
    How much is the loss (in ₹)?
30. 30.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) no reason (d) to know the real profit
31. 31.True or false: “money from sales” is an expense (money out). (a) True (b) False
32. 32.Joseph’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹110 (card paper)
    Expense: ₹270 (paper cups)
    How much is the loss (in ₹)?
33. 33.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) buying paper cups (d) money from sales
34. 34.True or false: “printing posters” is income (money in). (a) False (b) True
35. 35.Diya’s stall took in ₹240 on Friday, ₹90 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
36. 36.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
37. 37.Riya’s stall took in ₹90 on Friday, ₹150 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
38. 38.Meera’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹80 (card paper)
    Expense: ₹230 (lemons)
    How much is the loss (in ₹)?
39. 39.Gurpreet’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹160 (stall fee)
    Expense: ₹90 (card paper)
    What is the profit (in ₹)?
40. 40.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) nothing (d) the bill or receipt

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