Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 418 · 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: money from sales? (a) expense (b) income
2. 2.📒 Income or expense: payment for a cake order? (a) expense (b) income
3. 3.True or false: “payment for a cake order” is income (money in). (a) False (b) True
4. 4.Kavya’s stall took in ₹70 on Friday, ₹250 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
5. 5.True or false: “cash from selling plants” is income (money in). (a) False (b) True
6. 6.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
7. 7.Kabir’s income was ₹380 and the profit was ₹160. One expense was ₹140 (posters). How much was the other expense, for card paper (in ₹)?
8. 8.Ananya’s income was ₹220 and the profit was ₹90. One expense was ₹100 (stall fee). How much was the other expense, for lemons (in ₹)?
9. 9.Dev’s record for a rainy day:
   Income: ₹170 (sales)
   Expense: ₹50 (paper cups)
   Expense: ₹190 (sugar)
   How much is the loss (in ₹)?
10. 10.Zoya’s stall took in ₹230 on Friday, ₹340 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
11. 11.Meera’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹140 (sugar)
    Expense: ₹40 (transport)
    How much is the loss (in ₹)?
12. 12.Aarav’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹130 (stall fee)
    Expense: ₹80 (ribbon)
    What is the profit (in ₹)?
13. 13.📒 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
14. 14.Diya’s stall took in ₹390 on Friday, ₹110 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
15. 15.Aarav’s income was ₹170 and the profit was ₹110. One expense was ₹20 (paper cups). How much was the other expense, for transport (in ₹)?
16. 16.📒 Income or expense: a card order paid? (a) expense (b) income
17. 17.Which of these is income (money in)? (a) buying paper cups (b) a card order paid (c) bus fare to the market (d) buying lemons
18. 18.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) income − expenses (d) just the income
19. 19.Diya’s income was ₹340 and the profit was ₹260. One expense was ₹30 (lemons). How much was the other expense, for paper cups (in ₹)?
20. 20.Riya’s income was ₹150 and the profit was ₹90. One expense was ₹40 (stall fee). How much was the other expense, for ribbon (in ₹)?
21. 21.📒 Income or expense: cash from selling plants? (a) income (b) expense
22. 22.Aarav’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹80 (lemons)
    Expense: ₹250 (posters)
    How much is the loss (in ₹)?
23. 23.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
24. 24.Which of these is an expense (money out)? (a) money from sales (b) paying the stall fee (c) a card order paid (d) tutoring fees received
25. 25.📅 When is the best time to update your records? (a) never (b) whenever you like (c) the same day (d) once a year
26. 26.Kabir’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹40 (posters)
    What is the profit (in ₹)?
27. 27.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) money from sales (d) buying paper cups
28. 28.True or false: “printing posters” is an expense (money out). (a) True (b) False
29. 29.📒 Income or expense: bus fare to the market? (a) income (b) expense
30. 30.Farhan’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹100 (card paper)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
31. 31.Which of these is an expense (money out)? (a) payment for a cake order (b) buying paper cups (c) a card order paid (d) tutoring fees received
32. 32.Kabir’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹40 (lemons)
    Expense: ₹40 (paper cups)
    What is the profit (in ₹)?
33. 33.Ishaan’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹120 (ribbon)
    Expense: ₹20 (lemons)
    What is the profit (in ₹)?
34. 34.Dev’s income was ₹200 and the profit was ₹120. One expense was ₹20 (ribbon). How much was the other expense, for transport (in ₹)?
35. 35.Arjun’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹90 (sugar)
    Expense: ₹110 (transport)
    How much is the loss (in ₹)?
36. 36.Which of these is income (money in)? (a) payment for a cake order (b) paying the stall fee (c) buying paper cups (d) printing posters
37. 37.Nisha’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹20 (posters)
    Expense: ₹170 (sugar)
    What is the profit (in ₹)?
38. 38.Which of these is income (money in)? (a) tutoring fees received (b) buying lemons (c) paying the stall fee (d) buying paper cups
39. 39.Ananya’s stall took in ₹50 on Friday, ₹130 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
40. 40.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) only the bag (d) a selfie

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