Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 48 · 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 know the real profit (b) no reason (c) to fill a notebook (d) to look busy
2. 2.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) buying paper cups (d) cash from selling plants
3. 3.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) bus fare to the market (d) cash from selling plants
4. 4.Which of these is an expense (money out)? (a) money from sales (b) buying lemons (c) tutoring fees received (d) cash from selling plants
5. 5.Kavya’s income was ₹320 and the profit was ₹200. One expense was ₹10 (sugar). How much was the other expense, for stall fee (in ₹)?
6. 6.Arjun’s stall took in ₹260 on Friday, ₹300 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
7. 7.Zoya’s stall took in ₹210 on Friday, ₹380 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
8. 8.Diya’s record for a rainy day:
   Income: ₹90 (sales)
   Expense: ₹20 (posters)
   Expense: ₹80 (transport)
   How much is the loss (in ₹)?
9. 9.Zoya’s stall took in ₹70 on Friday, ₹210 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
10. 10.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) payment for a cake order (d) printing posters
11. 11.Vihaan’s stall took in ₹220 on Friday, ₹150 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
12. 12.True or false: “money from sales” is an expense (money out). (a) True (b) False
13. 13.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) only the bag (d) the bill or receipt
14. 14.Rohan’s income was ₹370 and the profit was ₹340. One expense was ₹10 (ribbon). How much was the other expense, for sugar (in ₹)?
15. 15.📒 Income or expense: buying lemons? (a) expense (b) income
16. 16.Tara’s stall took in ₹100 on Friday, ₹240 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
17. 17.Rohan’s income was ₹100 and the profit was ₹10. One expense was ₹70 (posters). How much was the other expense, for paper cups (in ₹)?
18. 18.Joseph’s stall took in ₹240 on Friday, ₹360 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
19. 19.📒 Income or expense: printing posters? (a) income (b) expense
20. 20.True or false: “printing posters” is income (money in). (a) True (b) False
21. 21.Meera’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹90 (paper cups)
    Expense: ₹70 (stall fee)
    What is the profit (in ₹)?
22. 22.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) buying lemons (d) a card order paid
23. 23.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
24. 24.Which of these is income (money in)? (a) money from sales (b) buying paper cups (c) buying lemons (d) paying the stall fee
25. 25.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) never (d) the same day
26. 26.📒 Income or expense: money from sales? (a) income (b) expense
27. 27.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
28. 28.Riya’s income was ₹340 and the profit was ₹60. One expense was ₹110 (lemons). How much was the other expense, for ribbon (in ₹)?
29. 29.Kabir’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹110 (paper cups)
    Expense: ₹90 (ribbon)
    How much is the loss (in ₹)?
30. 30.Riya’s stall took in ₹230 on Friday, ₹220 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
31. 31.📒 Income or expense: cash from selling plants? (a) expense (b) income
32. 32.Lakshmi’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹80 (card paper)
    Expense: ₹160 (posters)
    How much is the loss (in ₹)?
33. 33.Rohan’s income was ₹330 and the profit was ₹210. One expense was ₹20 (posters). How much was the other expense, for ribbon (in ₹)?
34. 34.Lakshmi’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹70 (sugar)
    Expense: ₹100 (ribbon)
    What is the profit (in ₹)?
35. 35.Tara’s income was ₹230 and the profit was ₹190. One expense was ₹10 (transport). How much was the other expense, for posters (in ₹)?
36. 36.Dev’s stall took in ₹100 on Friday, ₹210 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
37. 37.Ishaan’s income was ₹340 and the profit was ₹10. One expense was ₹200 (paper cups). How much was the other expense, for posters (in ₹)?
38. 38.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) tutoring fees received (d) printing posters
39. 39.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
40. 40.Nisha’s stall took in ₹150 on Friday, ₹250 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?

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