Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 531 · 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) expenses − income (b) income + expenses (c) just the income (d) income − expenses
2. 2.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) only the bag (d) a selfie
3. 3.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) no reason (d) to look busy
4. 4.📒 Income or expense: buying paper cups? (a) expense (b) income
5. 5.Diya’s stall took in ₹330 on Friday, ₹280 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
6. 6.Lakshmi’s record for a rainy day:
   Income: ₹200 (sales)
   Expense: ₹190 (posters)
   Expense: ₹30 (transport)
   How much is the loss (in ₹)?
7. 7.True or false: “cash from selling plants” is income (money in). (a) False (b) True
8. 8.📒 Income or expense: a card order paid? (a) income (b) expense
9. 9.Diya’s record for the day:
   Income: ₹120 (morning sales)
   Income: ₹270 (evening sales)
   Expense: ₹20 (ribbon)
   Expense: ₹200 (transport)
   What is the profit (in ₹)?
10. 10.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) buying paper cups (d) a card order paid
11. 11.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
12. 12.Arjun’s stall took in ₹380 on Friday, ₹370 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
13. 13.Saanvi’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹30 (card paper)
    Expense: ₹30 (ribbon)
    What is the profit (in ₹)?
14. 14.Kabir’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹20 (paper cups)
    Expense: ₹270 (lemons)
    How much is the loss (in ₹)?
15. 15.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
16. 16.📅 When is the best time to update your records? (a) once a year (b) the same day (c) whenever you like (d) never
17. 17.Which of these is an expense (money out)? (a) printing posters (b) tutoring fees received (c) cash from selling plants (d) a card order paid
18. 18.Vihaan’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹430 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹190 (lemons)
    What is the profit (in ₹)?
19. 19.Tara’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹20 (sugar)
    Expense: ₹220 (stall fee)
    How much is the loss (in ₹)?
20. 20.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) bus fare to the market (d) tutoring fees received
21. 21.Ananya’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹90 (paper cups)
    Expense: ₹80 (lemons)
    How much is the loss (in ₹)?
22. 22.Zoya’s stall took in ₹90 on Friday, ₹150 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
23. 23.📒 Income or expense: cash from selling plants? (a) expense (b) income
24. 24.Ishaan’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹160 (posters)
    Expense: ₹140 (lemons)
    How much is the loss (in ₹)?
25. 25.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) payment for a cake order (d) paying the stall fee
26. 26.📒 Income or expense: payment for a cake order? (a) income (b) expense
27. 27.Gurpreet’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹70 (posters)
    Expense: ₹280 (stall fee)
    How much is the loss (in ₹)?
28. 28.Aarav’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹30 (lemons)
    Expense: ₹60 (paper cups)
    How much is the loss (in ₹)?
29. 29.Rohan’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹60 (card paper)
    Expense: ₹200 (lemons)
    What is the profit (in ₹)?
30. 30.Ishaan’s stall took in ₹60 on Friday, ₹300 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
31. 31.Joseph’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹60 (card paper)
    Expense: ₹30 (paper cups)
    What is the profit (in ₹)?
32. 32.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) cash from selling plants (d) bus fare to the market
33. 33.Vihaan’s income was ₹440 and the profit was ₹150. One expense was ₹210 (paper cups). How much was the other expense, for stall fee (in ₹)?
34. 34.Diya’s stall took in ₹180 on Friday, ₹360 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
35. 35.📒 Income or expense: paying the stall fee? (a) income (b) expense
36. 36.Kavya’s stall took in ₹80 on Friday, ₹350 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
37. 37.Rohan’s income was ₹260 and the profit was ₹220. One expense was ₹10 (ribbon). How much was the other expense, for transport (in ₹)?
38. 38.Zoya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹50 (posters)
    Expense: ₹110 (ribbon)
    What is the profit (in ₹)?
39. 39.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) cash from selling plants (d) bus fare to the market
40. 40.Nisha’s stall took in ₹220 on Friday, ₹120 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?

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