Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 423 · 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.Which of these is income (money in)? (a) payment for a cake order (b) paying the stall fee (c) bus fare to the market (d) buying paper cups
2. 2.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) a selfie (d) only the bag
3. 3.Diya’s record for a rainy day:
   Income: ₹80 (sales)
   Expense: ₹50 (stall fee)
   Expense: ₹40 (ribbon)
   How much is the loss (in ₹)?
4. 4.Ishaan’s record for a rainy day:
   Income: ₹240 (sales)
   Expense: ₹30 (paper cups)
   Expense: ₹240 (lemons)
   How much is the loss (in ₹)?
5. 5.Nisha’s stall took in ₹100 on Friday, ₹200 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
6. 6.Zoya’s income was ₹420 and the profit was ₹300. One expense was ₹110 (transport). How much was the other expense, for sugar (in ₹)?
7. 7.📒 Income or expense: a card order paid? (a) expense (b) income
8. 8.📒 Income or expense: money from sales? (a) expense (b) income
9. 9.Ishaan’s record for the day:
   Income: ₹390 (morning sales)
   Income: ₹90 (evening sales)
   Expense: ₹150 (stall fee)
   Expense: ₹90 (transport)
   What is the profit (in ₹)?
10. 10.📒 Income or expense: paying the stall fee? (a) income (b) expense
11. 11.Vihaan’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹120 (sugar)
    Expense: ₹170 (stall fee)
    What is the profit (in ₹)?
12. 12.📒 Income or expense: tutoring fees received? (a) expense (b) income
13. 13.True or false: “bus fare to the market” is income (money in). (a) True (b) False
14. 14.Ananya’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹450 (evening sales)
    Expense: ₹160 (stall fee)
    Expense: ₹160 (posters)
    What is the profit (in ₹)?
15. 15.Tara’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹220 (paper cups)
    Expense: ₹50 (card paper)
    How much is the loss (in ₹)?
16. 16.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
17. 17.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
18. 18.Saanvi’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹40 (sugar)
    Expense: ₹20 (stall fee)
    What is the profit (in ₹)?
19. 19.📒 Income or expense: buying lemons? (a) income (b) expense
20. 20.Which of these is income (money in)? (a) bus fare to the market (b) cash from selling plants (c) buying paper cups (d) paying the stall fee
21. 21.Dev’s income was ₹190 and the profit was ₹80. One expense was ₹100 (stall fee). How much was the other expense, for sugar (in ₹)?
22. 22.Saanvi’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹40 (posters)
    Expense: ₹20 (card paper)
    What is the profit (in ₹)?
23. 23.Zoya’s income was ₹410 and the profit was ₹120. One expense was ₹60 (sugar). How much was the other expense, for card paper (in ₹)?
24. 24.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) to look busy (d) no reason
25. 25.Rohan’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹130 (posters)
    Expense: ₹140 (card paper)
    What is the profit (in ₹)?
26. 26.Which of these is an expense (money out)? (a) tutoring fees received (b) buying lemons (c) payment for a cake order (d) a card order paid
27. 27.Vihaan’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹190 (card paper)
    Expense: ₹30 (stall fee)
    How much is the loss (in ₹)?
28. 28.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) never (d) once a year
29. 29.Tara’s income was ₹140 and the profit was ₹60. One expense was ₹70 (stall fee). How much was the other expense, for card paper (in ₹)?
30. 30.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
31. 31.Joseph’s income was ₹460 and the profit was ₹160. One expense was ₹60 (card paper). How much was the other expense, for ribbon (in ₹)?
32. 32.Nisha’s stall took in ₹270 on Friday, ₹50 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
33. 33.Farhan’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹260 (paper cups)
    Expense: ₹60 (ribbon)
    How much is the loss (in ₹)?
34. 34.Which of these is an expense (money out)? (a) paying the stall fee (b) payment for a cake order (c) tutoring fees received (d) a card order paid
35. 35.Kabir’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹190 (transport)
    Expense: ₹10 (card paper)
    How much is the loss (in ₹)?
36. 36.Saanvi’s stall took in ₹300 on Friday, ₹400 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
37. 37.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) bus fare to the market (d) tutoring fees received
38. 38.Kabir’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹30 (paper cups)
    Expense: ₹190 (lemons)
    What is the profit (in ₹)?
39. 39.Riya’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹60 (ribbon)
    Expense: ₹20 (stall fee)
    What is the profit (in ₹)?
40. 40.Arjun’s stall took in ₹50 on Friday, ₹240 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?

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