Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 678 · 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) the same day (b) whenever you like (c) never (d) once a year
2. 2.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) only the bag (d) the bill or receipt
3. 3.Farhan’s stall took in ₹240 on Friday, ₹80 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
4. 4.Rohan’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹530 (evening sales)
   Expense: ₹110 (paper cups)
   Expense: ₹190 (lemons)
   What is the profit (in ₹)?
5. 5.Rohan’s record for the day:
   Income: ₹350 (morning sales)
   Income: ₹40 (evening sales)
   Expense: ₹140 (lemons)
   Expense: ₹70 (ribbon)
   What is the profit (in ₹)?
6. 6.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
7. 7.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) payment for a cake order (d) bus fare to the market
8. 8.Which of these is an expense (money out)? (a) paying the stall fee (b) cash from selling plants (c) money from sales (d) a card order paid
9. 9.Dev’s income was ₹170 and the profit was ₹30. One expense was ₹40 (transport). How much was the other expense, for ribbon (in ₹)?
10. 10.Ishaan’s income was ₹360 and the profit was ₹250. One expense was ₹50 (card paper). How much was the other expense, for lemons (in ₹)?
11. 11.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
12. 12.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
13. 13.True or false: “printing posters” is income (money in). (a) True (b) False
14. 14.Kabir’s stall took in ₹330 on Friday, ₹160 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
15. 15.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) buying lemons (d) money from sales
16. 16.📒 Income or expense: a card order paid? (a) expense (b) income
17. 17.📒 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
18. 18.Ananya’s income was ₹370 and the profit was ₹320. One expense was ₹30 (transport). How much was the other expense, for paper cups (in ₹)?
19. 19.Dev’s stall took in ₹70 on Friday, ₹170 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
20. 20.Gurpreet’s income was ₹420 and the profit was ₹60. One expense was ₹130 (transport). How much was the other expense, for stall fee (in ₹)?
21. 21.True or false: “a card order paid” is an expense (money out). (a) False (b) True
22. 22.Rohan’s record for the day:
    Income: ₹390 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹200 (sugar)
    Expense: ₹70 (posters)
    What is the profit (in ₹)?
23. 23.Kavya’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹170 (ribbon)
    Expense: ₹30 (lemons)
    What is the profit (in ₹)?
24. 24.True or false: “buying lemons” is income (money in). (a) False (b) True
25. 25.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) cash from selling plants (d) buying lemons
26. 26.📒 Income or expense: paying the stall fee? (a) expense (b) income
27. 27.📒 Income or expense: tutoring fees received? (a) expense (b) income
28. 28.Riya’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹20 (transport)
    Expense: ₹40 (sugar)
    How much is the loss (in ₹)?
29. 29.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
30. 30.Vihaan’s stall took in ₹160 on Friday, ₹290 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
31. 31.Which of these is income (money in)? (a) money from sales (b) buying paper cups (c) buying lemons (d) bus fare to the market
32. 32.Riya’s stall took in ₹260 on Friday, ₹50 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
33. 33.Riya’s stall took in ₹150 on Friday, ₹90 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
34. 34.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) bus fare to the market (d) payment for a cake order
35. 35.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
36. 36.Which of these is income (money in)? (a) buying paper cups (b) tutoring fees received (c) bus fare to the market (d) paying the stall fee
37. 37.Diya’s income was ₹450 and the profit was ₹300. One expense was ₹10 (card paper). How much was the other expense, for lemons (in ₹)?
38. 38.Which of these is income (money in)? (a) a card order paid (b) buying paper cups (c) bus fare to the market (d) buying lemons
39. 39.Kabir’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹130 (card paper)
    Expense: ₹130 (lemons)
    What is the profit (in ₹)?
40. 40.📒 Income or expense: bus fare to the market? (a) income (b) expense

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