Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 44 · 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.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) to know the real profit (d) no reason
2. 2.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) only the bag (d) the bill or receipt
3. 3.True or false: “money from sales” is income (money in). (a) True (b) False
4. 4.Which of these is income (money in)? (a) paying the stall fee (b) a card order paid (c) buying paper cups (d) bus fare to the market
5. 5.Ananya’s record for the day:
   Income: ₹100 (morning sales)
   Income: ₹150 (evening sales)
   Expense: ₹50 (transport)
   Expense: ₹30 (sugar)
   What is the profit (in ₹)?
6. 6.📒 Income or expense: bus fare to the market? (a) expense (b) income
7. 7.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) money from sales (d) buying lemons
8. 8.Gurpreet’s record for the day:
   Income: ₹190 (morning sales)
   Income: ₹230 (evening sales)
   Expense: ₹20 (lemons)
   Expense: ₹110 (stall fee)
   What is the profit (in ₹)?
9. 9.Aarav’s income was ₹190 and the profit was ₹30. One expense was ₹120 (card paper). How much was the other expense, for ribbon (in ₹)?
10. 10.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) paying the stall fee (d) cash from selling plants
11. 11.Riya’s stall took in ₹140 on Friday, ₹210 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
12. 12.Saanvi’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹10 (posters)
    Expense: ₹380 (card paper)
    How much is the loss (in ₹)?
13. 13.Which of these is an expense (money out)? (a) buying paper cups (b) money from sales (c) payment for a cake order (d) cash from selling plants
14. 14.📒 Income or expense: payment for a cake order? (a) income (b) expense
15. 15.Dev’s income was ₹480 and the profit was ₹20. One expense was ₹140 (sugar). How much was the other expense, for paper cups (in ₹)?
16. 16.Saanvi’s income was ₹220 and the profit was ₹140. One expense was ₹20 (paper cups). How much was the other expense, for transport (in ₹)?
17. 17.📅 When is the best time to update your records? (a) the same day (b) never (c) whenever you like (d) once a year
18. 18.Lakshmi’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹20 (posters)
    Expense: ₹190 (paper cups)
    How much is the loss (in ₹)?
19. 19.Diya’s stall took in ₹230 on Friday, ₹340 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
20. 20.Ishaan’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹90 (lemons)
    Expense: ₹200 (paper cups)
    What is the profit (in ₹)?
21. 21.📒 Income or expense: printing posters? (a) income (b) expense
22. 22.📒 Income or expense: money from sales? (a) income (b) expense
23. 23.Saanvi’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹190 (card paper)
    Expense: ₹90 (lemons)
    What is the profit (in ₹)?
24. 24.Lakshmi’s stall took in ₹370 on Friday, ₹160 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
25. 25.Rohan’s stall took in ₹60 on Friday, ₹380 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
26. 26.Rohan’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹50 (transport)
    Expense: ₹140 (lemons)
    What is the profit (in ₹)?
27. 27.📒 Income or expense: tutoring fees received? (a) expense (b) income
28. 28.True or false: “a card order paid” is income (money in). (a) True (b) False
29. 29.Zoya’s income was ₹100 and the profit was ₹50. One expense was ₹10 (posters). How much was the other expense, for sugar (in ₹)?
30. 30.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
31. 31.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
32. 32.Lakshmi’s income was ₹280 and the profit was ₹10. One expense was ₹40 (card paper). How much was the other expense, for posters (in ₹)?
33. 33.Rohan’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹50 (stall fee)
    Expense: ₹170 (card paper)
    What is the profit (in ₹)?
34. 34.Arjun’s stall took in ₹300 on Friday, ₹240 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
35. 35.Rohan’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹90 (posters)
    Expense: ₹40 (card paper)
    How much is the loss (in ₹)?
36. 36.Kavya’s stall took in ₹270 on Friday, ₹330 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
37. 37.True or false: “payment for a cake order” is income (money in). (a) True (b) False
38. 38.Joseph’s stall took in ₹280 on Friday, ₹150 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
39. 39.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
40. 40.📒 Income or expense: a card order paid? (a) expense (b) income

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