Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 662 · 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) a selfie (b) nothing (c) the bill or receipt (d) only the bag
2. 2.Diya’s stall took in ₹300 on Friday, ₹60 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
3. 3.Gurpreet’s stall took in ₹110 on Friday, ₹370 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
4. 4.Ananya’s record for the day:
   Income: ₹60 (morning sales)
   Income: ₹130 (evening sales)
   Expense: ₹40 (transport)
   Expense: ₹100 (paper cups)
   What is the profit (in ₹)?
5. 5.Dev’s record for the day:
   Income: ₹140 (morning sales)
   Income: ₹240 (evening sales)
   Expense: ₹140 (lemons)
   Expense: ₹170 (ribbon)
   What is the profit (in ₹)?
6. 6.Ishaan’s income was ₹260 and the profit was ₹120. One expense was ₹40 (sugar). How much was the other expense, for paper cups (in ₹)?
7. 7.Which of these is income (money in)? (a) cash from selling plants (b) buying paper cups (c) bus fare to the market (d) buying lemons
8. 8.Which of these is income (money in)? (a) printing posters (b) tutoring fees received (c) bus fare to the market (d) buying paper cups
9. 9.True or false: “a card order paid” is income (money in). (a) False (b) True
10. 10.Zoya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹70 (paper cups)
    Expense: ₹120 (posters)
    What is the profit (in ₹)?
11. 11.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) bus fare to the market (d) a card order paid
12. 12.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) never (d) once a year
13. 13.Which of these is an expense (money out)? (a) money from sales (b) paying the stall fee (c) cash from selling plants (d) tutoring fees received
14. 14.➖ Profit in your records = (a) just the income (b) expenses − income (c) income − expenses (d) income + expenses
15. 15.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) to know the real profit (d) no reason
16. 16.Meera’s income was ₹360 and the profit was ₹190. One expense was ₹140 (paper cups). How much was the other expense, for posters (in ₹)?
17. 17.📒 Income or expense: cash from selling plants? (a) income (b) expense
18. 18.Lakshmi’s stall took in ₹170 on Friday, ₹170 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
19. 19.Farhan’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹100 (posters)
    Expense: ₹80 (lemons)
    How much is the loss (in ₹)?
20. 20.Ishaan’s income was ₹230 and the profit was ₹210. One expense was ₹10 (sugar). How much was the other expense, for lemons (in ₹)?
21. 21.Meera’s record for the day:
    Income: ₹360 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹150 (lemons)
    Expense: ₹120 (sugar)
    What is the profit (in ₹)?
22. 22.True or false: “money from sales” is an expense (money out). (a) True (b) False
23. 23.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) buying paper cups (d) money from sales
24. 24.Ananya’s income was ₹240 and the profit was ₹210. One expense was ₹20 (posters). How much was the other expense, for transport (in ₹)?
25. 25.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
26. 26.📒 Income or expense: payment for a cake order? (a) expense (b) income
27. 27.Riya’s stall took in ₹270 on Friday, ₹170 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
28. 28.Kavya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹80 (sugar)
    Expense: ₹60 (card paper)
    What is the profit (in ₹)?
29. 29.Riya’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹250 (posters)
    Expense: ₹70 (sugar)
    How much is the loss (in ₹)?
30. 30.True or false: “cash from selling plants” is income (money in). (a) False (b) True
31. 31.Which of these is an expense (money out)? (a) buying lemons (b) cash from selling plants (c) payment for a cake order (d) tutoring fees received
32. 32.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) money from sales (d) printing posters
33. 33.Ananya’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹50 (paper cups)
    Expense: ₹30 (card paper)
    What is the profit (in ₹)?
34. 34.Zoya’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹170 (sugar)
    Expense: ₹230 (ribbon)
    How much is the loss (in ₹)?
35. 35.Riya’s income was ₹420 and the profit was ₹250. One expense was ₹30 (lemons). How much was the other expense, for transport (in ₹)?
36. 36.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
37. 37.Joseph’s stall took in ₹220 on Friday, ₹330 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
38. 38.True or false: “paying the stall fee” is income (money in). (a) False (b) True
39. 39.Diya’s stall took in ₹230 on Friday, ₹160 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
40. 40.True or false: “buying lemons” is an expense (money out). (a) True (b) False

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