Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 707 · 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) whenever you like (c) the same day (d) once a year
2. 2.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) the bill or receipt (d) a selfie
3. 3.Zoya’s stall took in ₹160 on Friday, ₹240 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
4. 4.Kavya’s record for a rainy day:
   Income: ₹60 (sales)
   Expense: ₹80 (ribbon)
   Expense: ₹20 (transport)
   How much is the loss (in ₹)?
5. 5.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) payment for a cake order (d) paying the stall fee
6. 6.True or false: “a card order paid” is an expense (money out). (a) False (b) True
7. 7.📒 Income or expense: printing posters? (a) income (b) expense
8. 8.Saanvi’s income was ₹110 and the profit was ₹90. One expense was ₹10 (stall fee). How much was the other expense, for paper cups (in ₹)?
9. 9.Vihaan’s income was ₹230 and the profit was ₹200. One expense was ₹20 (paper cups). How much was the other expense, for transport (in ₹)?
10. 10.True or false: “tutoring fees received” is income (money in). (a) True (b) False
11. 11.Rohan’s stall took in ₹60 on Friday, ₹190 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
12. 12.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
13. 13.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
14. 14.Kabir’s income was ₹310 and the profit was ₹20. One expense was ₹110 (lemons). How much was the other expense, for card paper (in ₹)?
15. 15.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) paying the stall fee (d) a card order paid
16. 16.Saanvi’s stall took in ₹280 on Friday, ₹230 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
17. 17.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
18. 18.True or false: “buying paper cups” is income (money in). (a) False (b) True
19. 19.📒 Income or expense: paying the stall fee? (a) expense (b) income
20. 20.True or false: “buying lemons” is income (money in). (a) True (b) False
21. 21.Kavya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹170 (lemons)
    Expense: ₹20 (card paper)
    What is the profit (in ₹)?
22. 22.Meera’s income was ₹110 and the profit was ₹90. One expense was ₹10 (posters). How much was the other expense, for paper cups (in ₹)?
23. 23.📒 Income or expense: payment for a cake order? (a) income (b) expense
24. 24.Ishaan’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹190 (lemons)
    Expense: ₹20 (posters)
    What is the profit (in ₹)?
25. 25.Gurpreet’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹90 (paper cups)
    Expense: ₹120 (lemons)
    How much is the loss (in ₹)?
26. 26.True or false: “payment for a cake order” is income (money in). (a) True (b) False
27. 27.Which of these is income (money in)? (a) buying paper cups (b) cash from selling plants (c) bus fare to the market (d) printing posters
28. 28.Tara’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹120 (card paper)
    Expense: ₹100 (paper cups)
    How much is the loss (in ₹)?
29. 29.📒 Income or expense: bus fare to the market? (a) income (b) expense
30. 30.True or false: “printing posters” is income (money in). (a) True (b) False
31. 31.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) buying paper cups (d) a card order paid
32. 32.📒 Income or expense: cash from selling plants? (a) expense (b) income
33. 33.Which of these is an expense (money out)? (a) a card order paid (b) printing posters (c) money from sales (d) tutoring fees received
34. 34.Which of these is an expense (money out)? (a) money from sales (b) paying the stall fee (c) cash from selling plants (d) tutoring fees received
35. 35.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to fill a notebook (d) to look busy
36. 36.Nisha’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹160 (ribbon)
    Expense: ₹120 (paper cups)
    How much is the loss (in ₹)?
37. 37.Joseph’s stall took in ₹150 on Friday, ₹300 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
38. 38.Lakshmi’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹120 (posters)
    Expense: ₹120 (paper cups)
    What is the profit (in ₹)?
39. 39.Ananya’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹40 (posters)
    Expense: ₹30 (stall fee)
    How much is the loss (in ₹)?
40. 40.True or false: “a card order paid” is income (money in). (a) False (b) True

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