Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 683 · 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 fill a notebook (c) to know the real profit (d) no reason
2. 2.Which of these is income (money in)? (a) paying the stall fee (b) tutoring fees received (c) bus fare to the market (d) printing posters
3. 3.Kavya’s record for the day:
   Income: ₹210 (morning sales)
   Income: ₹120 (evening sales)
   Expense: ₹180 (card paper)
   Expense: ₹80 (transport)
   What is the profit (in ₹)?
4. 4.Riya’s record for a rainy day:
   Income: ₹240 (sales)
   Expense: ₹50 (posters)
   Expense: ₹220 (transport)
   How much is the loss (in ₹)?
5. 5.True or false: “buying lemons” is an expense (money out). (a) True (b) False
6. 6.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
7. 7.Which of these is an expense (money out)? (a) a card order paid (b) printing posters (c) money from sales (d) cash from selling plants
8. 8.Nisha’s income was ₹150 and the profit was ₹70. One expense was ₹50 (ribbon). How much was the other expense, for card paper (in ₹)?
9. 9.Zoya’s record for the day:
   Income: ₹350 (morning sales)
   Income: ₹200 (evening sales)
   Expense: ₹150 (lemons)
   Expense: ₹180 (posters)
   What is the profit (in ₹)?
10. 10.Ishaan’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹50 (transport)
    Expense: ₹60 (posters)
    What is the profit (in ₹)?
11. 11.Farhan’s income was ₹210 and the profit was ₹140. One expense was ₹50 (lemons). How much was the other expense, for stall fee (in ₹)?
12. 12.📅 When is the best time to update your records? (a) never (b) whenever you like (c) once a year (d) the same day
13. 13.True or false: “buying lemons” is income (money in). (a) True (b) False
14. 14.📒 Income or expense: payment for a cake order? (a) income (b) expense
15. 15.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) payment for a cake order (d) buying lemons
16. 16.➖ Profit in your records = (a) just the income (b) income − expenses (c) income + expenses (d) expenses − income
17. 17.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) buying lemons (d) a card order paid
18. 18.Joseph’s income was ₹130 and the profit was ₹40. One expense was ₹10 (sugar). How much was the other expense, for card paper (in ₹)?
19. 19.📒 Income or expense: paying the stall fee? (a) expense (b) income
20. 20.Which of these is income (money in)? (a) payment for a cake order (b) buying lemons (c) buying paper cups (d) bus fare to the market
21. 21.📒 Income or expense: a card order paid? (a) expense (b) income
22. 22.Rohan’s stall took in ₹320 on Friday, ₹50 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
23. 23.Gurpreet’s income was ₹160 and the profit was ₹110. One expense was ₹20 (card paper). How much was the other expense, for lemons (in ₹)?
24. 24.📒 Income or expense: bus fare to the market? (a) income (b) expense
25. 25.Meera’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹100 (stall fee)
    Expense: ₹20 (lemons)
    What is the profit (in ₹)?
26. 26.📒 Income or expense: buying paper cups? (a) income (b) expense
27. 27.Joseph’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹150 (ribbon)
    Expense: ₹200 (paper cups)
    What is the profit (in ₹)?
28. 28.True or false: “tutoring fees received” is income (money in). (a) True (b) False
29. 29.Joseph’s income was ₹180 and the profit was ₹130. One expense was ₹20 (posters). How much was the other expense, for lemons (in ₹)?
30. 30.Aarav’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹30 (lemons)
    Expense: ₹190 (transport)
    How much is the loss (in ₹)?
31. 31.📒 Income or expense: buying lemons? (a) expense (b) income
32. 32.Rohan’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹190 (sugar)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?
33. 33.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
34. 34.Which of these is an expense (money out)? (a) cash from selling plants (b) paying the stall fee (c) a card order paid (d) money from sales
35. 35.Lakshmi’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹60 (ribbon)
    Expense: ₹140 (paper cups)
    How much is the loss (in ₹)?
36. 36.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) nothing (d) a selfie
37. 37.Riya’s record for the day:
    Income: ₹430 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹40 (paper cups)
    Expense: ₹200 (card paper)
    What is the profit (in ₹)?
38. 38.Nisha’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹110 (stall fee)
    Expense: ₹40 (lemons)
    How much is the loss (in ₹)?
39. 39.Meera’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹60 (card paper)
    Expense: ₹20 (lemons)
    What is the profit (in ₹)?
40. 40.Which of these is income (money in)? (a) cash from selling plants (b) buying lemons (c) bus fare to the market (d) buying paper cups

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