Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 520 · 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 look busy (b) to know the real profit (c) no reason (d) to fill a notebook
2. 2.Which of these is income (money in)? (a) tutoring fees received (b) paying the stall fee (c) printing posters (d) buying lemons
3. 3.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) only the bag (d) the bill or receipt
4. 4.Kavya’s stall took in ₹50 on Friday, ₹190 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
5. 5.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) income + expenses (d) just the income
6. 6.📒 Income or expense: tutoring fees received? (a) expense (b) income
7. 7.True or false: “buying paper cups” is income (money in). (a) True (b) False
8. 8.📒 Income or expense: printing posters? (a) income (b) expense
9. 9.Nisha’s record for a rainy day:
   Income: ₹270 (sales)
   Expense: ₹50 (transport)
   Expense: ₹290 (paper cups)
   How much is the loss (in ₹)?
10. 10.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) printing posters (d) payment for a cake order
11. 11.Saanvi’s stall took in ₹340 on Friday, ₹170 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
12. 12.📒 Income or expense: money from sales? (a) expense (b) income
13. 13.True or false: “a card order paid” is income (money in). (a) False (b) True
14. 14.Rohan’s income was ₹260 and the profit was ₹150. One expense was ₹50 (sugar). How much was the other expense, for card paper (in ₹)?
15. 15.Vihaan’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹80 (stall fee)
    Expense: ₹40 (paper cups)
    What is the profit (in ₹)?
16. 16.Which of these is income (money in)? (a) printing posters (b) money from sales (c) buying lemons (d) paying the stall fee
17. 17.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) once a year (d) never
18. 18.Arjun’s income was ₹140 and the profit was ₹60. One expense was ₹20 (ribbon). How much was the other expense, for sugar (in ₹)?
19. 19.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
20. 20.Which of these is an expense (money out)? (a) buying lemons (b) cash from selling plants (c) payment for a cake order (d) money from sales
21. 21.Meera’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹90 (paper cups)
    Expense: ₹270 (card paper)
    How much is the loss (in ₹)?
22. 22.Nisha’s stall took in ₹70 on Friday, ₹160 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
23. 23.Ananya’s stall took in ₹270 on Friday, ₹160 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
24. 24.Arjun’s record for the day:
    Income: ₹380 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹90 (paper cups)
    Expense: ₹200 (transport)
    What is the profit (in ₹)?
25. 25.Aarav’s stall took in ₹230 on Friday, ₹390 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
26. 26.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) bus fare to the market (d) payment for a cake order
27. 27.Nisha’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹150 (stall fee)
    Expense: ₹40 (posters)
    How much is the loss (in ₹)?
28. 28.Kavya’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹170 (paper cups)
    Expense: ₹80 (stall fee)
    What is the profit (in ₹)?
29. 29.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) printing posters (d) cash from selling plants
30. 30.Saanvi’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹160 (ribbon)
    Expense: ₹20 (transport)
    How much is the loss (in ₹)?
31. 31.Gurpreet’s stall took in ₹320 on Friday, ₹120 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
32. 32.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
33. 33.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) payment for a cake order (d) bus fare to the market
34. 34.📒 Income or expense: paying the stall fee? (a) income (b) expense
35. 35.Gurpreet’s income was ₹330 and the profit was ₹260. One expense was ₹20 (lemons). How much was the other expense, for sugar (in ₹)?
36. 36.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) a card order paid (d) paying the stall fee
37. 37.Kavya’s income was ₹410 and the profit was ₹290. One expense was ₹30 (posters). How much was the other expense, for transport (in ₹)?
38. 38.Nisha’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹30 (card paper)
    Expense: ₹330 (ribbon)
    How much is the loss (in ₹)?
39. 39.Aarav’s income was ₹150 and the profit was ₹60. One expense was ₹40 (card paper). How much was the other expense, for lemons (in ₹)?
40. 40.Nisha’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹230 (transport)
    Expense: ₹100 (ribbon)
    How much is the loss (in ₹)?

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