Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 668 · 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 know the real profit (b) to fill a notebook (c) to look busy (d) no reason
2. 2.Kavya’s record for the day:
   Income: ₹300 (morning sales)
   Income: ₹20 (evening sales)
   Expense: ₹30 (card paper)
   Expense: ₹70 (sugar)
   What is the profit (in ₹)?
3. 3.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) bus fare to the market (d) a card order paid
4. 4.True or false: “cash from selling plants” is income (money in). (a) False (b) True
5. 5.Which of these is an expense (money out)? (a) cash from selling plants (b) paying the stall fee (c) tutoring fees received (d) money from sales
6. 6.➖ Profit in your records = (a) just the income (b) income − expenses (c) expenses − income (d) income + expenses
7. 7.Which of these is income (money in)? (a) buying lemons (b) cash from selling plants (c) paying the stall fee (d) bus fare to the market
8. 8.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) a selfie (d) only the bag
9. 9.📒 Income or expense: a card order paid? (a) expense (b) income
10. 10.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) never (d) once a year
11. 11.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) payment for a cake order (d) paying the stall fee
12. 12.Ananya’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹60 (card paper)
    How much is the loss (in ₹)?
13. 13.Tara’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹170 (paper cups)
    Expense: ₹110 (lemons)
    What is the profit (in ₹)?
14. 14.📒 Income or expense: tutoring fees received? (a) expense (b) income
15. 15.Riya’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹40 (ribbon)
    Expense: ₹360 (lemons)
    How much is the loss (in ₹)?
16. 16.Lakshmi’s income was ₹410 and the profit was ₹220. One expense was ₹70 (card paper). How much was the other expense, for lemons (in ₹)?
17. 17.Vihaan’s stall took in ₹300 on Friday, ₹280 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
18. 18.Tara’s stall took in ₹160 on Friday, ₹120 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
19. 19.Riya’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹80 (lemons)
    Expense: ₹150 (posters)
    What is the profit (in ₹)?
20. 20.📒 Income or expense: buying paper cups? (a) income (b) expense
21. 21.Tara’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹550 (evening sales)
    Expense: ₹150 (posters)
    Expense: ₹150 (stall fee)
    What is the profit (in ₹)?
22. 22.True or false: “printing posters” is income (money in). (a) False (b) True
23. 23.Which of these is income (money in)? (a) buying paper cups (b) tutoring fees received (c) bus fare to the market (d) buying lemons
24. 24.Ishaan’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹20 (transport)
    Expense: ₹170 (lemons)
    How much is the loss (in ₹)?
25. 25.📒 Income or expense: cash from selling plants? (a) expense (b) income
26. 26.Diya’s income was ₹450 and the profit was ₹100. One expense was ₹120 (transport). How much was the other expense, for paper cups (in ₹)?
27. 27.Vihaan’s stall took in ₹350 on Friday, ₹260 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
28. 28.📒 Income or expense: payment for a cake order? (a) expense (b) income
29. 29.Arjun’s income was ₹230 and the profit was ₹150. One expense was ₹50 (lemons). How much was the other expense, for paper cups (in ₹)?
30. 30.Joseph’s stall took in ₹120 on Friday, ₹120 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
31. 31.Ananya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹490 (evening sales)
    Expense: ₹40 (lemons)
    Expense: ₹170 (ribbon)
    What is the profit (in ₹)?
32. 32.Arjun’s income was ₹120 and the profit was ₹70. One expense was ₹10 (ribbon). How much was the other expense, for posters (in ₹)?
33. 33.True or false: “a card order paid” is income (money in). (a) True (b) False
34. 34.Which of these is income (money in)? (a) printing posters (b) money from sales (c) buying lemons (d) bus fare to the market
35. 35.Which of these is income (money in)? (a) a card order paid (b) paying the stall fee (c) buying lemons (d) printing posters
36. 36.📒 Income or expense: printing posters? (a) expense (b) income
37. 37.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
38. 38.📒 Income or expense: buying lemons? (a) expense (b) income
39. 39.Arjun’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹140 (paper cups)
    Expense: ₹110 (posters)
    How much is the loss (in ₹)?
40. 40.Kavya’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹80 (sugar)
    Expense: ₹130 (card paper)
    How much is the loss (in ₹)?

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