Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 670 · 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 fill a notebook (b) to know the real profit (c) no reason (d) to look busy
2. 2.📒 Income or expense: paying the stall fee? (a) expense (b) income
3. 3.Nisha’s record for the day:
   Income: ₹210 (morning sales)
   Income: ₹300 (evening sales)
   Expense: ₹20 (ribbon)
   Expense: ₹200 (lemons)
   What is the profit (in ₹)?
4. 4.➖ Profit in your records = (a) income + expenses (b) just the income (c) expenses − income (d) income − expenses
5. 5.📒 Income or expense: payment for a cake order? (a) income (b) expense
6. 6.Dev’s record for a rainy day:
   Income: ₹250 (sales)
   Expense: ₹70 (paper cups)
   Expense: ₹250 (card paper)
   How much is the loss (in ₹)?
7. 7.Kabir’s record for the day:
   Income: ₹150 (morning sales)
   Income: ₹130 (evening sales)
   Expense: ₹90 (lemons)
   Expense: ₹180 (sugar)
   What is the profit (in ₹)?
8. 8.Kabir’s record for a rainy day:
   Income: ₹270 (sales)
   Expense: ₹20 (lemons)
   Expense: ₹260 (posters)
   How much is the loss (in ₹)?
9. 9.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) never (d) the same day
10. 10.True or false: “a card order paid” is income (money in). (a) False (b) True
11. 11.True or false: “tutoring fees received” is income (money in). (a) False (b) True
12. 12.Kavya’s record for the day:
    Income: ₹470 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹50 (sugar)
    Expense: ₹190 (posters)
    What is the profit (in ₹)?
13. 13.True or false: “printing posters” is an expense (money out). (a) False (b) True
14. 14.Which of these is income (money in)? (a) bus fare to the market (b) a card order paid (c) buying lemons (d) printing posters
15. 15.Zoya’s income was ₹180 and the profit was ₹20. One expense was ₹40 (sugar). How much was the other expense, for posters (in ₹)?
16. 16.Arjun’s income was ₹310 and the profit was ₹110. One expense was ₹30 (card paper). How much was the other expense, for stall fee (in ₹)?
17. 17.Aarav’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹240 (stall fee)
    Expense: ₹10 (paper cups)
    How much is the loss (in ₹)?
18. 18.Which of these is an expense (money out)? (a) bus fare to the market (b) payment for a cake order (c) cash from selling plants (d) tutoring fees received
19. 19.Tara’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹30 (paper cups)
    Expense: ₹170 (transport)
    What is the profit (in ₹)?
20. 20.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) nothing (d) a selfie
21. 21.Vihaan’s stall took in ₹150 on Friday, ₹50 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
22. 22.📒 Income or expense: buying paper cups? (a) income (b) expense
23. 23.True or false: “money from sales” is an expense (money out). (a) False (b) True
24. 24.True or false: “printing posters” is income (money in). (a) True (b) False
25. 25.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
26. 26.Arjun’s income was ₹200 and the profit was ₹130. One expense was ₹60 (sugar). How much was the other expense, for paper cups (in ₹)?
27. 27.True or false: “money from sales” is income (money in). (a) True (b) False
28. 28.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) a card order paid (d) buying lemons
29. 29.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) paying the stall fee (d) payment for a cake order
30. 30.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
31. 31.Ananya’s income was ₹420 and the profit was ₹190. One expense was ₹40 (ribbon). How much was the other expense, for lemons (in ₹)?
32. 32.📒 Income or expense: a card order paid? (a) income (b) expense
33. 33.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) bus fare to the market (d) payment for a cake order
34. 34.Farhan’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹260 (stall fee)
    Expense: ₹80 (ribbon)
    How much is the loss (in ₹)?
35. 35.Ishaan’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹60 (paper cups)
    Expense: ₹170 (card paper)
    How much is the loss (in ₹)?
36. 36.Saanvi’s income was ₹270 and the profit was ₹10. One expense was ₹130 (transport). How much was the other expense, for stall fee (in ₹)?
37. 37.Zoya’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹170 (posters)
    Expense: ₹90 (paper cups)
    How much is the loss (in ₹)?
38. 38.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) money from sales (d) paying the stall fee
39. 39.📒 Income or expense: cash from selling plants? (a) income (b) expense
40. 40.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) cash from selling plants (d) buying paper cups

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