Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 705 · 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.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) nothing (d) only the bag
2. 2.📅 When is the best time to update your records? (a) the same day (b) once a year (c) whenever you like (d) never
3. 3.📒 Income or expense: payment for a cake order? (a) expense (b) income
4. 4.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to know the real profit (d) to look busy
5. 5.Aarav’s stall took in ₹230 on Friday, ₹360 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
6. 6.True or false: “a card order paid” is income (money in). (a) True (b) False
7. 7.Which of these is income (money in)? (a) payment for a cake order (b) printing posters (c) buying lemons (d) buying paper cups
8. 8.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) buying lemons (d) a card order paid
9. 9.Nisha’s record for a rainy day:
   Income: ₹170 (sales)
   Expense: ₹50 (lemons)
   Expense: ₹220 (transport)
   How much is the loss (in ₹)?
10. 10.Riya’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹150 (transport)
    Expense: ₹40 (paper cups)
    How much is the loss (in ₹)?
11. 11.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) paying the stall fee (d) tutoring fees received
12. 12.Which of these is income (money in)? (a) cash from selling plants (b) paying the stall fee (c) bus fare to the market (d) buying paper cups
13. 13.True or false: “money from sales” is income (money in). (a) False (b) True
14. 14.Joseph’s stall took in ₹240 on Friday, ₹100 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
15. 15.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) money from sales (d) buying paper cups
16. 16.Joseph’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹110 (stall fee)
    Expense: ₹50 (card paper)
    How much is the loss (in ₹)?
17. 17.📒 Income or expense: buying lemons? (a) expense (b) income
18. 18.Kabir’s record for the day:
    Income: ₹410 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹150 (card paper)
    Expense: ₹120 (paper cups)
    What is the profit (in ₹)?
19. 19.📒 Income or expense: cash from selling plants? (a) expense (b) income
20. 20.📒 Income or expense: printing posters? (a) income (b) expense
21. 21.📒 Income or expense: bus fare to the market? (a) income (b) expense
22. 22.Vihaan’s stall took in ₹140 on Friday, ₹350 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
23. 23.Which of these is an expense (money out)? (a) payment for a cake order (b) buying lemons (c) cash from selling plants (d) tutoring fees received
24. 24.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
25. 25.Arjun’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹20 (ribbon)
    Expense: ₹330 (posters)
    How much is the loss (in ₹)?
26. 26.Vihaan’s income was ₹250 and the profit was ₹120. One expense was ₹80 (lemons). How much was the other expense, for paper cups (in ₹)?
27. 27.Aarav’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹30 (sugar)
    Expense: ₹160 (transport)
    How much is the loss (in ₹)?
28. 28.📒 Income or expense: paying the stall fee? (a) income (b) expense
29. 29.Farhan’s income was ₹210 and the profit was ₹90. One expense was ₹60 (transport). How much was the other expense, for sugar (in ₹)?
30. 30.📒 Income or expense: buying paper cups? (a) income (b) expense
31. 31.Vihaan’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹130 (lemons)
    Expense: ₹130 (paper cups)
    How much is the loss (in ₹)?
32. 32.Kabir’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹140 (transport)
    What is the profit (in ₹)?
33. 33.Farhan’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹400 (evening sales)
    Expense: ₹200 (lemons)
    Expense: ₹90 (transport)
    What is the profit (in ₹)?
34. 34.Diya’s record for the day:
    Income: ₹510 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹180 (stall fee)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
35. 35.Kavya’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹90 (card paper)
    Expense: ₹180 (stall fee)
    What is the profit (in ₹)?
36. 36.📒 Income or expense: tutoring fees received? (a) income (b) expense
37. 37.Kavya’s income was ₹160 and the profit was ₹10. One expense was ₹80 (paper cups). How much was the other expense, for ribbon (in ₹)?
38. 38.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) a card order paid (d) printing posters
39. 39.True or false: “cash from selling plants” is income (money in). (a) False (b) True
40. 40.Joseph’s stall took in ₹200 on Friday, ₹150 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?

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