Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 484 · 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) no reason (b) to know the real profit (c) to look busy (d) to fill a notebook
2. 2.Vihaan’s record for a rainy day:
   Income: ₹270 (sales)
   Expense: ₹90 (card paper)
   Expense: ₹280 (stall fee)
   How much is the loss (in ₹)?
3. 3.True or false: “a card order paid” is an expense (money out). (a) True (b) False
4. 4.Aarav’s record for a rainy day:
   Income: ₹150 (sales)
   Expense: ₹70 (posters)
   Expense: ₹100 (lemons)
   How much is the loss (in ₹)?
5. 5.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) buying paper cups (d) cash from selling plants
6. 6.Vihaan’s record for the day:
   Income: ₹30 (morning sales)
   Income: ₹400 (evening sales)
   Expense: ₹20 (lemons)
   Expense: ₹120 (card paper)
   What is the profit (in ₹)?
7. 7.Joseph’s record for the day:
   Income: ₹20 (morning sales)
   Income: ₹60 (evening sales)
   Expense: ₹20 (lemons)
   Expense: ₹40 (posters)
   What is the profit (in ₹)?
8. 8.📒 Income or expense: a card order paid? (a) income (b) expense
9. 9.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) money from sales (d) buying paper cups
10. 10.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
11. 11.Kavya’s income was ₹140 and the profit was ₹110. One expense was ₹10 (stall fee). How much was the other expense, for posters (in ₹)?
12. 12.📒 Income or expense: paying the stall fee? (a) income (b) expense
13. 13.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) income + expenses (d) just the income
14. 14.Aarav’s stall took in ₹280 on Friday, ₹70 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
15. 15.Ananya’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹70 (sugar)
    Expense: ₹200 (paper cups)
    What is the profit (in ₹)?
16. 16.Farhan’s income was ₹240 and the profit was ₹170. One expense was ₹20 (sugar). How much was the other expense, for paper cups (in ₹)?
17. 17.True or false: “payment for a cake order” is income (money in). (a) False (b) True
18. 18.True or false: “buying lemons” is income (money in). (a) True (b) False
19. 19.Ishaan’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹190 (card paper)
    Expense: ₹150 (stall fee)
    What is the profit (in ₹)?
20. 20.📒 Income or expense: payment for a cake order? (a) income (b) expense
21. 21.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) payment for a cake order (d) paying the stall fee
22. 22.Ishaan’s income was ₹390 and the profit was ₹270. One expense was ₹30 (sugar). How much was the other expense, for paper cups (in ₹)?
23. 23.True or false: “cash from selling plants” is income (money in). (a) False (b) True
24. 24.Arjun’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹100 (posters)
    Expense: ₹200 (transport)
    What is the profit (in ₹)?
25. 25.Tara’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹20 (posters)
    Expense: ₹90 (paper cups)
    How much is the loss (in ₹)?
26. 26.Aarav’s stall took in ₹370 on Friday, ₹150 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
27. 27.📅 When is the best time to update your records? (a) the same day (b) never (c) whenever you like (d) once a year
28. 28.Kabir’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹10 (ribbon)
    Expense: ₹190 (sugar)
    How much is the loss (in ₹)?
29. 29.Rohan’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹200 (paper cups)
    Expense: ₹150 (transport)
    What is the profit (in ₹)?
30. 30.True or false: “tutoring fees received” is income (money in). (a) True (b) False
31. 31.Kavya’s stall took in ₹280 on Friday, ₹130 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
32. 32.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) paying the stall fee (d) payment for a cake order
33. 33.📒 Income or expense: bus fare to the market? (a) expense (b) income
34. 34.Which of these is an expense (money out)? (a) cash from selling plants (b) buying lemons (c) payment for a cake order (d) a card order paid
35. 35.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
36. 36.Vihaan’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹90 (posters)
    Expense: ₹100 (card paper)
    How much is the loss (in ₹)?
37. 37.Zoya’s stall took in ₹260 on Friday, ₹230 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
38. 38.Rohan’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹90 (lemons)
    Expense: ₹170 (transport)
    How much is the loss (in ₹)?
39. 39.Dev’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹160 (sugar)
    Expense: ₹120 (card paper)
    What is the profit (in ₹)?
40. 40.📒 Income or expense: cash from selling plants? (a) expense (b) income

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