Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 682 · 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 look busy (b) to know the real profit (c) no reason (d) to fill a notebook
2. 2.Ananya’s stall took in ₹260 on Friday, ₹190 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
3. 3.Farhan’s stall took in ₹60 on Friday, ₹140 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
4. 4.True or false: “buying lemons” is income (money in). (a) False (b) True
5. 5.Ananya’s stall took in ₹400 on Friday, ₹390 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
6. 6.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) once a year (d) never
7. 7.Aarav’s stall took in ₹260 on Friday, ₹70 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
8. 8.Which of these is an expense (money out)? (a) tutoring fees received (b) buying lemons (c) money from sales (d) cash from selling plants
9. 9.True or false: “buying paper cups” is income (money in). (a) False (b) True
10. 10.📒 Income or expense: money from sales? (a) expense (b) income
11. 11.Diya’s record for the day:
    Income: ₹370 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹90 (lemons)
    What is the profit (in ₹)?
12. 12.📒 Income or expense: paying the stall fee? (a) expense (b) income
13. 13.Tara’s record for the day:
    Income: ₹380 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹120 (ribbon)
    Expense: ₹130 (paper cups)
    What is the profit (in ₹)?
14. 14.Tara’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹20 (paper cups)
    Expense: ₹320 (lemons)
    How much is the loss (in ₹)?
15. 15.📒 Income or expense: a card order paid? (a) income (b) expense
16. 16.True or false: “cash from selling plants” is income (money in). (a) False (b) True
17. 17.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) just the income (d) income + expenses
18. 18.Meera’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹50 (paper cups)
    Expense: ₹150 (transport)
    What is the profit (in ₹)?
19. 19.Kavya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹580 (evening sales)
    Expense: ₹170 (card paper)
    Expense: ₹140 (posters)
    What is the profit (in ₹)?
20. 20.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
21. 21.True or false: “payment for a cake order” is income (money in). (a) False (b) True
22. 22.Ananya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹60 (ribbon)
    Expense: ₹40 (posters)
    What is the profit (in ₹)?
23. 23.Arjun’s income was ₹420 and the profit was ₹40. One expense was ₹130 (stall fee). How much was the other expense, for posters (in ₹)?
24. 24.📒 Income or expense: cash from selling plants? (a) income (b) expense
25. 25.Lakshmi’s stall took in ₹230 on Friday, ₹400 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
26. 26.Kabir’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹120 (paper cups)
    Expense: ₹270 (lemons)
    How much is the loss (in ₹)?
27. 27.📒 Income or expense: buying paper cups? (a) income (b) expense
28. 28.Zoya’s stall took in ₹240 on Friday, ₹330 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
29. 29.Which of these is income (money in)? (a) buying lemons (b) cash from selling plants (c) buying paper cups (d) bus fare to the market
30. 30.Vihaan’s income was ₹410 and the profit was ₹30. One expense was ₹80 (paper cups). How much was the other expense, for stall fee (in ₹)?
31. 31.📒 Income or expense: tutoring fees received? (a) expense (b) income
32. 32.True or false: “buying lemons” is an expense (money out). (a) False (b) True
33. 33.📒 Income or expense: bus fare to the market? (a) income (b) expense
34. 34.Which of these is an expense (money out)? (a) payment for a cake order (b) bus fare to the market (c) a card order paid (d) money from sales
35. 35.📒 Income or expense: buying lemons? (a) expense (b) income
36. 36.Rohan’s stall took in ₹70 on Friday, ₹310 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
37. 37.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) only the bag (d) a selfie
38. 38.True or false: “money from sales” is an expense (money out). (a) False (b) True
39. 39.Zoya’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹180 (transport)
    Expense: ₹80 (card paper)
    What is the profit (in ₹)?
40. 40.Nisha’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹90 (stall fee)
    Expense: ₹100 (paper cups)
    What is the profit (in ₹)?

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