Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 651 · 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.Zoya’s stall took in ₹60 on Friday, ₹50 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
3. 3.Ishaan’s income was ₹100 and the profit was ₹40. One expense was ₹40 (lemons). How much was the other expense, for card paper (in ₹)?
4. 4.Aarav’s record for a rainy day:
   Income: ₹90 (sales)
   Expense: ₹20 (posters)
   Expense: ₹170 (card paper)
   How much is the loss (in ₹)?
5. 5.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) tutoring fees received (d) printing posters
6. 6.Arjun’s record for the day:
   Income: ₹330 (morning sales)
   Income: ₹100 (evening sales)
   Expense: ₹80 (lemons)
   Expense: ₹80 (card paper)
   What is the profit (in ₹)?
7. 7.True or false: “buying paper cups” is income (money in). (a) True (b) False
8. 8.📒 Income or expense: buying lemons? (a) income (b) expense
9. 9.Aarav’s record for the day:
   Income: ₹290 (morning sales)
   Income: ₹80 (evening sales)
   Expense: ₹140 (paper cups)
   Expense: ₹60 (card paper)
   What is the profit (in ₹)?
10. 10.Gurpreet’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹130 (lemons)
    Expense: ₹190 (card paper)
    How much is the loss (in ₹)?
11. 11.Farhan’s income was ₹230 and the profit was ₹40. One expense was ₹70 (stall fee). How much was the other expense, for posters (in ₹)?
12. 12.Riya’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹430 (evening sales)
    Expense: ₹140 (paper cups)
    Expense: ₹160 (ribbon)
    What is the profit (in ₹)?
13. 13.True or false: “printing posters” is an expense (money out). (a) True (b) False
14. 14.📒 Income or expense: bus fare to the market? (a) expense (b) income
15. 15.Meera’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹90 (lemons)
    Expense: ₹90 (paper cups)
    How much is the loss (in ₹)?
16. 16.Diya’s stall took in ₹230 on Friday, ₹220 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
17. 17.📒 Income or expense: cash from selling plants? (a) expense (b) income
18. 18.True or false: “bus fare to the market” is income (money in). (a) False (b) True
19. 19.Lakshmi’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹220 (lemons)
    Expense: ₹10 (card paper)
    How much is the loss (in ₹)?
20. 20.➖ Profit in your records = (a) just the income (b) income + expenses (c) income − expenses (d) expenses − income
21. 21.Diya’s stall took in ₹260 on Friday, ₹400 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
22. 22.📒 Income or expense: a card order paid? (a) income (b) expense
23. 23.Which of these is an expense (money out)? (a) tutoring fees received (b) buying lemons (c) payment for a cake order (d) cash from selling plants
24. 24.📒 Income or expense: money from sales? (a) expense (b) income
25. 25.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
26. 26.Kabir’s income was ₹330 and the profit was ₹140. One expense was ₹170 (ribbon). How much was the other expense, for card paper (in ₹)?
27. 27.📅 When is the best time to update your records? (a) whenever you like (b) never (c) the same day (d) once a year
28. 28.Diya’s income was ₹100 and the profit was ₹50. One expense was ₹30 (posters). How much was the other expense, for stall fee (in ₹)?
29. 29.Which of these is income (money in)? (a) money from sales (b) paying the stall fee (c) bus fare to the market (d) printing posters
30. 30.True or false: “money from sales” is income (money in). (a) False (b) True
31. 31.📒 Income or expense: tutoring fees received? (a) expense (b) income
32. 32.Farhan’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹70 (ribbon)
    Expense: ₹70 (paper cups)
    How much is the loss (in ₹)?
33. 33.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) the bill or receipt (d) nothing
34. 34.Vihaan’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹70 (paper cups)
    Expense: ₹190 (posters)
    What is the profit (in ₹)?
35. 35.Which of these is an expense (money out)? (a) bus fare to the market (b) a card order paid (c) payment for a cake order (d) money from sales
36. 36.True or false: “a card order paid” is an expense (money out). (a) False (b) True
37. 37.Gurpreet’s income was ₹350 and the profit was ₹80. One expense was ₹220 (transport). How much was the other expense, for sugar (in ₹)?
38. 38.Dev’s stall took in ₹120 on Friday, ₹60 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
39. 39.Which of these is an expense (money out)? (a) buying paper cups (b) payment for a cake order (c) money from sales (d) tutoring fees received
40. 40.Riya’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹110 (paper cups)
    Expense: ₹20 (card paper)
    How much is the loss (in ₹)?

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