Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 476 · 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.➖ Profit in your records = (a) just the income (b) expenses − income (c) income − expenses (d) income + expenses
2. 2.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to look busy (d) to fill a notebook
3. 3.Vihaan’s stall took in ₹170 on Friday, ₹200 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
4. 4.📒 Income or expense: cash from selling plants? (a) expense (b) income
5. 5.Arjun’s record for the day:
   Income: ₹340 (morning sales)
   Income: ₹80 (evening sales)
   Expense: ₹30 (transport)
   Expense: ₹180 (paper cups)
   What is the profit (in ₹)?
6. 6.True or false: “cash from selling plants” is income (money in). (a) True (b) False
7. 7.Riya’s stall took in ₹210 on Friday, ₹150 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
8. 8.True or false: “buying lemons” is income (money in). (a) True (b) False
9. 9.True or false: “printing posters” is an expense (money out). (a) False (b) True
10. 10.Rohan’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹190 (lemons)
    Expense: ₹180 (ribbon)
    What is the profit (in ₹)?
11. 11.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
12. 12.📒 Income or expense: buying lemons? (a) income (b) expense
13. 13.Zoya’s stall took in ₹180 on Friday, ₹70 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
14. 14.📒 Income or expense: buying paper cups? (a) income (b) expense
15. 15.📒 Income or expense: a card order paid? (a) expense (b) income
16. 16.True or false: “buying paper cups” is income (money in). (a) True (b) False
17. 17.Gurpreet’s stall took in ₹350 on Friday, ₹90 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
18. 18.Aarav’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹20 (paper cups)
    Expense: ₹160 (stall fee)
    How much is the loss (in ₹)?
19. 19.Ananya’s income was ₹180 and the profit was ₹70. One expense was ₹50 (transport). How much was the other expense, for stall fee (in ₹)?
20. 20.Kabir’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹150 (ribbon)
    Expense: ₹30 (sugar)
    What is the profit (in ₹)?
21. 21.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) tutoring fees received (d) paying the stall fee
22. 22.Rohan’s income was ₹400 and the profit was ₹70. One expense was ₹200 (paper cups). How much was the other expense, for stall fee (in ₹)?
23. 23.Aarav’s income was ₹480 and the profit was ₹370. One expense was ₹60 (lemons). How much was the other expense, for paper cups (in ₹)?
24. 24.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) only the bag (d) nothing
25. 25.True or false: “a card order paid” is an expense (money out). (a) True (b) False
26. 26.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) cash from selling plants (d) printing posters
27. 27.True or false: “money from sales” is an expense (money out). (a) True (b) False
28. 28.Dev’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹10 (lemons)
    Expense: ₹340 (stall fee)
    How much is the loss (in ₹)?
29. 29.📒 Income or expense: money from sales? (a) expense (b) income
30. 30.📒 Income or expense: payment for a cake order? (a) income (b) expense
31. 31.📒 Income or expense: bus fare to the market? (a) income (b) expense
32. 32.Gurpreet’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹40 (lemons)
    Expense: ₹50 (stall fee)
    How much is the loss (in ₹)?
33. 33.Rohan’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹220 (transport)
    Expense: ₹80 (lemons)
    How much is the loss (in ₹)?
34. 34.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) cash from selling plants (d) buying paper cups
35. 35.Vihaan’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹430 (evening sales)
    Expense: ₹190 (ribbon)
    Expense: ₹90 (lemons)
    What is the profit (in ₹)?
36. 36.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) never (d) once a year
37. 37.Diya’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹40 (card paper)
    Expense: ₹40 (paper cups)
    How much is the loss (in ₹)?
38. 38.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) money from sales (d) paying the stall fee
39. 39.Which of these is income (money in)? (a) paying the stall fee (b) tutoring fees received (c) buying lemons (d) bus fare to the market
40. 40.Arjun’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹480 (evening sales)
    Expense: ₹120 (stall fee)
    Expense: ₹90 (sugar)
    What is the profit (in ₹)?

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