Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 45 · 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.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
2. 2.Zoya’s record for the day:
   Income: ₹190 (morning sales)
   Income: ₹90 (evening sales)
   Expense: ₹30 (transport)
   Expense: ₹40 (posters)
   What is the profit (in ₹)?
3. 3.Riya’s income was ₹110 and the profit was ₹20. One expense was ₹80 (transport). How much was the other expense, for stall fee (in ₹)?
4. 4.Which of these is an expense (money out)? (a) buying paper cups (b) payment for a cake order (c) tutoring fees received (d) a card order paid
5. 5.📒 Income or expense: cash from selling plants? (a) income (b) expense
6. 6.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) no reason (d) to fill a notebook
7. 7.Lakshmi’s record for the day:
   Income: ₹270 (morning sales)
   Income: ₹30 (evening sales)
   Expense: ₹30 (lemons)
   Expense: ₹140 (paper cups)
   What is the profit (in ₹)?
8. 8.Which of these is an expense (money out)? (a) a card order paid (b) bus fare to the market (c) money from sales (d) payment for a cake order
9. 9.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) payment for a cake order (d) buying paper cups
10. 10.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) nothing (d) only the bag
11. 11.True or false: “money from sales” is income (money in). (a) False (b) True
12. 12.Diya’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹70 (paper cups)
    Expense: ₹230 (lemons)
    How much is the loss (in ₹)?
13. 13.📒 Income or expense: printing posters? (a) expense (b) income
14. 14.Kavya’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹30 (ribbon)
    Expense: ₹80 (transport)
    How much is the loss (in ₹)?
15. 15.Which of these is income (money in)? (a) buying lemons (b) a card order paid (c) paying the stall fee (d) printing posters
16. 16.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) cash from selling plants (d) buying paper cups
17. 17.Riya’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹30 (ribbon)
    Expense: ₹130 (stall fee)
    What is the profit (in ₹)?
18. 18.📒 Income or expense: buying paper cups? (a) income (b) expense
19. 19.📒 Income or expense: tutoring fees received? (a) expense (b) income
20. 20.Kabir’s income was ₹200 and the profit was ₹20. One expense was ₹170 (stall fee). How much was the other expense, for sugar (in ₹)?
21. 21.Which of these is income (money in)? (a) buying paper cups (b) money from sales (c) printing posters (d) bus fare to the market
22. 22.📒 Income or expense: a card order paid? (a) income (b) expense
23. 23.📒 Income or expense: buying lemons? (a) expense (b) income
24. 24.True or false: “a card order paid” is income (money in). (a) False (b) True
25. 25.Kabir’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹170 (sugar)
    Expense: ₹50 (ribbon)
    How much is the loss (in ₹)?
26. 26.Ishaan’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹110 (sugar)
    Expense: ₹130 (card paper)
    What is the profit (in ₹)?
27. 27.Nisha’s income was ₹110 and the profit was ₹80. One expense was ₹10 (transport). How much was the other expense, for paper cups (in ₹)?
28. 28.Meera’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹90 (lemons)
    Expense: ₹60 (ribbon)
    What is the profit (in ₹)?
29. 29.Rohan’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹30 (lemons)
    Expense: ₹130 (card paper)
    How much is the loss (in ₹)?
30. 30.Kabir’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹140 (stall fee)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
31. 31.True or false: “payment for a cake order” is income (money in). (a) False (b) True
32. 32.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) income − expenses (d) just the income
33. 33.Which of these is an expense (money out)? (a) cash from selling plants (b) buying lemons (c) a card order paid (d) money from sales
34. 34.📒 Income or expense: payment for a cake order? (a) expense (b) income
35. 35.Ishaan’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹90 (card paper)
    Expense: ₹40 (posters)
    How much is the loss (in ₹)?
36. 36.Meera’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹40 (paper cups)
    Expense: ₹40 (sugar)
    What is the profit (in ₹)?
37. 37.Saanvi’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹20 (card paper)
    Expense: ₹120 (ribbon)
    How much is the loss (in ₹)?
38. 38.📒 Income or expense: paying the stall fee? (a) income (b) expense
39. 39.Gurpreet’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹80 (card paper)
    Expense: ₹260 (ribbon)
    How much is the loss (in ₹)?
40. 40.Saanvi’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹80 (lemons)
    Expense: ₹20 (paper cups)
    How much is the loss (in ₹)?

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