Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 660 · 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) only the bag (b) nothing (c) the bill or receipt (d) a selfie
2. 2.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) payment for a cake order (d) buying lemons
3. 3.📒 Income or expense: a card order paid? (a) income (b) expense
4. 4.Farhan’s income was ₹330 and the profit was ₹210. One expense was ₹10 (ribbon). How much was the other expense, for stall fee (in ₹)?
5. 5.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
6. 6.📒 Income or expense: paying the stall fee? (a) expense (b) income
7. 7.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) money from sales (d) printing posters
8. 8.Farhan’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹80 (ribbon)
   Expense: ₹100 (transport)
   How much is the loss (in ₹)?
9. 9.Riya’s income was ₹120 and the profit was ₹30. One expense was ₹50 (posters). How much was the other expense, for paper cups (in ₹)?
10. 10.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) income − expenses (d) just the income
11. 11.Zoya’s income was ₹200 and the profit was ₹60. One expense was ₹60 (lemons). How much was the other expense, for transport (in ₹)?
12. 12.Diya’s income was ₹400 and the profit was ₹320. One expense was ₹50 (lemons). How much was the other expense, for paper cups (in ₹)?
13. 13.Joseph’s income was ₹230 and the profit was ₹190. One expense was ₹10 (stall fee). How much was the other expense, for sugar (in ₹)?
14. 14.Dev’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹180 (sugar)
    Expense: ₹120 (paper cups)
    What is the profit (in ₹)?
15. 15.Farhan’s stall took in ₹360 on Friday, ₹360 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
16. 16.📒 Income or expense: cash from selling plants? (a) income (b) expense
17. 17.Arjun’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹90 (sugar)
    Expense: ₹70 (paper cups)
    What is the profit (in ₹)?
18. 18.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) printing posters (d) a card order paid
19. 19.True or false: “a card order paid” is an expense (money out). (a) True (b) False
20. 20.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) bus fare to the market (d) a card order paid
21. 21.Ananya’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹160 (transport)
    Expense: ₹110 (sugar)
    How much is the loss (in ₹)?
22. 22.📒 Income or expense: buying paper cups? (a) expense (b) income
23. 23.Zoya’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹20 (card paper)
    Expense: ₹40 (transport)
    How much is the loss (in ₹)?
24. 24.📒 Income or expense: bus fare to the market? (a) expense (b) income
25. 25.Arjun’s stall took in ₹70 on Friday, ₹320 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
26. 26.Vihaan’s income was ₹370 and the profit was ₹200. One expense was ₹40 (stall fee). How much was the other expense, for sugar (in ₹)?
27. 27.True or false: “cash from selling plants” is income (money in). (a) True (b) False
28. 28.Arjun’s stall took in ₹90 on Friday, ₹290 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
29. 29.📒 Income or expense: buying lemons? (a) income (b) expense
30. 30.📒 Income or expense: printing posters? (a) income (b) expense
31. 31.Meera’s record for the day:
    Income: ₹530 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹130 (lemons)
    Expense: ₹200 (card paper)
    What is the profit (in ₹)?
32. 32.True or false: “payment for a cake order” is income (money in). (a) False (b) True
33. 33.📒 Income or expense: money from sales? (a) income (b) expense
34. 34.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
35. 35.📅 When is the best time to update your records? (a) never (b) once a year (c) the same day (d) whenever you like
36. 36.Lakshmi’s stall took in ₹250 on Friday, ₹90 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
37. 37.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to know the real profit (d) to fill a notebook
38. 38.Arjun’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹100 (lemons)
    Expense: ₹210 (stall fee)
    How much is the loss (in ₹)?
39. 39.True or false: “printing posters” is income (money in). (a) False (b) True
40. 40.Saanvi’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹60 (paper cups)
    What is the profit (in ₹)?

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