Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 644 · 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.📅 When is the best time to update your records? (a) whenever you like (b) never (c) the same day (d) once a year
2. 2.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) just the income (d) income − expenses
3. 3.Rohan’s record for the day:
   Income: ₹80 (morning sales)
   Income: ₹40 (evening sales)
   Expense: ₹30 (paper cups)
   Expense: ₹20 (ribbon)
   What is the profit (in ₹)?
4. 4.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) the bill or receipt (d) nothing
5. 5.Tara’s record for the day:
   Income: ₹400 (morning sales)
   Income: ₹40 (evening sales)
   Expense: ₹190 (posters)
   Expense: ₹180 (stall fee)
   What is the profit (in ₹)?
6. 6.Riya’s record for a rainy day:
   Income: ₹80 (sales)
   Expense: ₹90 (stall fee)
   Expense: ₹10 (sugar)
   How much is the loss (in ₹)?
7. 7.True or false: “buying paper cups” is income (money in). (a) True (b) False
8. 8.📒 Income or expense: money from sales? (a) income (b) expense
9. 9.Which of these is income (money in)? (a) buying lemons (b) tutoring fees received (c) paying the stall fee (d) buying paper cups
10. 10.Nisha’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹50 (stall fee)
    Expense: ₹180 (paper cups)
    How much is the loss (in ₹)?
11. 11.Arjun’s income was ₹290 and the profit was ₹110. One expense was ₹80 (card paper). How much was the other expense, for lemons (in ₹)?
12. 12.True or false: “buying lemons” is income (money in). (a) True (b) False
13. 13.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) cash from selling plants (d) bus fare to the market
14. 14.📒 Income or expense: bus fare to the market? (a) expense (b) income
15. 15.Vihaan’s stall took in ₹70 on Friday, ₹240 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
16. 16.Arjun’s income was ₹370 and the profit was ₹200. One expense was ₹30 (transport). How much was the other expense, for paper cups (in ₹)?
17. 17.📒 Income or expense: cash from selling plants? (a) income (b) expense
18. 18.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
19. 19.Lakshmi’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹230 (stall fee)
    Expense: ₹10 (transport)
    How much is the loss (in ₹)?
20. 20.Gurpreet’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹100 (paper cups)
    Expense: ₹50 (card paper)
    How much is the loss (in ₹)?
21. 21.Which of these is an expense (money out)? (a) bus fare to the market (b) money from sales (c) cash from selling plants (d) a card order paid
22. 22.Which of these is income (money in)? (a) printing posters (b) payment for a cake order (c) paying the stall fee (d) bus fare to the market
23. 23.Meera’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹130 (card paper)
    Expense: ₹190 (lemons)
    How much is the loss (in ₹)?
24. 24.Arjun’s income was ₹350 and the profit was ₹220. One expense was ₹100 (transport). How much was the other expense, for paper cups (in ₹)?
25. 25.Dev’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹190 (lemons)
    Expense: ₹110 (sugar)
    What is the profit (in ₹)?
26. 26.Ananya’s stall took in ₹70 on Friday, ₹360 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
27. 27.True or false: “cash from selling plants” is income (money in). (a) False (b) True
28. 28.📒 Income or expense: buying paper cups? (a) income (b) expense
29. 29.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to fill a notebook (d) to know the real profit
30. 30.Joseph’s income was ₹330 and the profit was ₹80. One expense was ₹140 (stall fee). How much was the other expense, for posters (in ₹)?
31. 31.📒 Income or expense: paying the stall fee? (a) income (b) expense
32. 32.Nisha’s income was ₹110 and the profit was ₹70. One expense was ₹30 (sugar). How much was the other expense, for lemons (in ₹)?
33. 33.Vihaan’s stall took in ₹120 on Friday, ₹240 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
34. 34.📒 Income or expense: tutoring fees received? (a) expense (b) income
35. 35.True or false: “printing posters” is an expense (money out). (a) True (b) False
36. 36.Ishaan’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹90 (ribbon)
    Expense: ₹130 (transport)
    What is the profit (in ₹)?
37. 37.True or false: “payment for a cake order” is income (money in). (a) False (b) True
38. 38.Zoya’s income was ₹180 and the profit was ₹60. One expense was ₹60 (stall fee). How much was the other expense, for lemons (in ₹)?
39. 39.📒 Income or expense: payment for a cake order? (a) expense (b) income
40. 40.📒 Income or expense: buying lemons? (a) income (b) expense

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