Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 505 · 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.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) a selfie (d) only the bag
2. 2.True or false: “buying lemons” is an expense (money out). (a) False (b) True
3. 3.Lakshmi’s record for the day:
   Income: ₹30 (morning sales)
   Income: ₹220 (evening sales)
   Expense: ₹60 (lemons)
   Expense: ₹120 (posters)
   What is the profit (in ₹)?
4. 4.True or false: “money from sales” is an expense (money out). (a) False (b) True
5. 5.Gurpreet’s record for a rainy day:
   Income: ₹190 (sales)
   Expense: ₹210 (posters)
   Expense: ₹30 (ribbon)
   How much is the loss (in ₹)?
6. 6.Rohan’s stall took in ₹340 on Friday, ₹290 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
7. 7.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
8. 8.Meera’s income was ₹490 and the profit was ₹240. One expense was ₹190 (ribbon). How much was the other expense, for posters (in ₹)?
9. 9.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to know the real profit (d) to look busy
10. 10.Nisha’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹30 (sugar)
    Expense: ₹170 (paper cups)
    What is the profit (in ₹)?
11. 11.Ishaan’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹160 (paper cups)
    Expense: ₹110 (card paper)
    How much is the loss (in ₹)?
12. 12.📅 When is the best time to update your records? (a) whenever you like (b) never (c) the same day (d) once a year
13. 13.Kavya’s stall took in ₹280 on Friday, ₹320 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
14. 14.Saanvi’s income was ₹500 and the profit was ₹190. One expense was ₹70 (paper cups). How much was the other expense, for card paper (in ₹)?
15. 15.📒 Income or expense: printing posters? (a) income (b) expense
16. 16.Tara’s record for the day:
    Income: ₹460 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹120 (stall fee)
    Expense: ₹140 (sugar)
    What is the profit (in ₹)?
17. 17.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) bus fare to the market (d) payment for a cake order
18. 18.Which of these is income (money in)? (a) paying the stall fee (b) tutoring fees received (c) buying paper cups (d) buying lemons
19. 19.Kavya’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹130 (stall fee)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
20. 20.Diya’s stall took in ₹110 on Friday, ₹100 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
21. 21.Nisha’s stall took in ₹310 on Friday, ₹120 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
22. 22.Diya’s income was ₹270 and the profit was ₹70. One expense was ₹80 (paper cups). How much was the other expense, for card paper (in ₹)?
23. 23.True or false: “money from sales” is income (money in). (a) False (b) True
24. 24.Ishaan’s stall took in ₹360 on Friday, ₹290 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
25. 25.Kavya’s record for the day:
    Income: ₹390 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹180 (ribbon)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
26. 26.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) expenses − income (d) just the income
27. 27.Tara’s stall took in ₹70 on Friday, ₹250 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
28. 28.True or false: “a card order paid” is an expense (money out). (a) True (b) False
29. 29.📒 Income or expense: cash from selling plants? (a) income (b) expense
30. 30.📒 Income or expense: a card order paid? (a) expense (b) income
31. 31.Arjun’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹130 (sugar)
    Expense: ₹120 (stall fee)
    What is the profit (in ₹)?
32. 32.Diya’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹70 (ribbon)
    Expense: ₹90 (stall fee)
    How much is the loss (in ₹)?
33. 33.Joseph’s stall took in ₹80 on Friday, ₹170 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
34. 34.Saanvi’s stall took in ₹110 on Friday, ₹50 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
35. 35.📒 Income or expense: money from sales? (a) income (b) expense
36. 36.Zoya’s stall took in ₹380 on Friday, ₹380 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
37. 37.Rohan’s stall took in ₹260 on Friday, ₹290 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
38. 38.Saanvi’s stall took in ₹250 on Friday, ₹350 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
39. 39.Farhan’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹630 (evening sales)
    Expense: ₹200 (paper cups)
    Expense: ₹200 (transport)
    What is the profit (in ₹)?
40. 40.True or false: “bus fare to the market” is income (money in). (a) True (b) False

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