Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 675 · 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.📅 When is the best time to update your records? (a) never (b) once a year (c) the same day (d) whenever you like
2. 2.Aarav’s record for a rainy day:
   Income: ₹280 (sales)
   Expense: ₹220 (ribbon)
   Expense: ₹90 (stall fee)
   How much is the loss (in ₹)?
3. 3.Dev’s record for the day:
   Income: ₹640 (morning sales)
   Income: ₹10 (evening sales)
   Expense: ₹200 (sugar)
   Expense: ₹170 (stall fee)
   What is the profit (in ₹)?
4. 4.Rohan’s record for the day:
   Income: ₹240 (morning sales)
   Income: ₹210 (evening sales)
   Expense: ₹90 (sugar)
   Expense: ₹170 (stall fee)
   What is the profit (in ₹)?
5. 5.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
6. 6.📒 Income or expense: payment for a cake order? (a) income (b) expense
7. 7.Aarav’s record for a rainy day:
   Income: ₹110 (sales)
   Expense: ₹130 (lemons)
   Expense: ₹70 (card paper)
   How much is the loss (in ₹)?
8. 8.True or false: “buying paper cups” is income (money in). (a) True (b) False
9. 9.True or false: “tutoring fees received” is income (money in). (a) False (b) True
10. 10.True or false: “printing posters” is income (money in). (a) True (b) False
11. 11.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to know the real profit (d) to look busy
12. 12.📒 Income or expense: money from sales? (a) expense (b) income
13. 13.➖ Profit in your records = (a) just the income (b) expenses − income (c) income − expenses (d) income + expenses
14. 14.Kavya’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹120 (card paper)
    Expense: ₹170 (lemons)
    What is the profit (in ₹)?
15. 15.True or false: “printing posters” is an expense (money out). (a) True (b) False
16. 16.Lakshmi’s income was ₹330 and the profit was ₹120. One expense was ₹130 (transport). How much was the other expense, for paper cups (in ₹)?
17. 17.Ananya’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹160 (card paper)
    Expense: ₹110 (sugar)
    What is the profit (in ₹)?
18. 18.Kavya’s income was ₹490 and the profit was ₹350. One expense was ₹60 (lemons). How much was the other expense, for sugar (in ₹)?
19. 19.Arjun’s income was ₹200 and the profit was ₹110. One expense was ₹10 (ribbon). How much was the other expense, for stall fee (in ₹)?
20. 20.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) printing posters (d) a card order paid
21. 21.Which of these is an expense (money out)? (a) bus fare to the market (b) a card order paid (c) cash from selling plants (d) payment for a cake order
22. 22.True or false: “bus fare to the market” is income (money in). (a) False (b) True
23. 23.Ishaan’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹50 (ribbon)
    Expense: ₹30 (lemons)
    What is the profit (in ₹)?
24. 24.Kabir’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹60 (posters)
    Expense: ₹130 (stall fee)
    How much is the loss (in ₹)?
25. 25.Riya’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹120 (card paper)
    Expense: ₹20 (ribbon)
    What is the profit (in ₹)?
26. 26.Saanvi’s stall took in ₹280 on Friday, ₹180 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
27. 27.Kavya’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹30 (paper cups)
    Expense: ₹80 (transport)
    How much is the loss (in ₹)?
28. 28.Which of these is an expense (money out)? (a) buying lemons (b) payment for a cake order (c) tutoring fees received (d) cash from selling plants
29. 29.📒 Income or expense: buying paper cups? (a) income (b) expense
30. 30.Diya’s income was ₹440 and the profit was ₹260. One expense was ₹40 (transport). How much was the other expense, for paper cups (in ₹)?
31. 31.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
32. 32.Diya’s stall took in ₹350 on Friday, ₹190 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
33. 33.Ishaan’s income was ₹210 and the profit was ₹10. One expense was ₹150 (card paper). How much was the other expense, for sugar (in ₹)?
34. 34.True or false: “a card order paid” is income (money in). (a) False (b) True
35. 35.Kavya’s stall took in ₹180 on Friday, ₹160 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
36. 36.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) the bill or receipt (d) only the bag
37. 37.📒 Income or expense: tutoring fees received? (a) expense (b) income
38. 38.Kavya’s income was ₹230 and the profit was ₹20. One expense was ₹40 (posters). How much was the other expense, for lemons (in ₹)?
39. 39.True or false: “cash from selling plants” is income (money in). (a) True (b) False
40. 40.Diya’s income was ₹370 and the profit was ₹180. One expense was ₹30 (card paper). How much was the other expense, for lemons (in ₹)?

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