Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 722 · 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.➖ Profit in your records = (a) just the income (b) income − expenses (c) expenses − income (d) income + expenses
2. 2.📒 Income or expense: buying paper cups? (a) income (b) expense
3. 3.True or false: “money from sales” is income (money in). (a) False (b) True
4. 4.📒 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
5. 5.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) a selfie (d) the bill or receipt
6. 6.Dev’s stall took in ₹170 on Friday, ₹230 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
7. 7.Meera’s record for a rainy day:
   Income: ₹60 (sales)
   Expense: ₹50 (posters)
   Expense: ₹100 (ribbon)
   How much is the loss (in ₹)?
8. 8.Zoya’s record for the day:
   Income: ₹210 (morning sales)
   Income: ₹80 (evening sales)
   Expense: ₹80 (paper cups)
   Expense: ₹40 (posters)
   What is the profit (in ₹)?
9. 9.Diya’s record for a rainy day:
   Income: ₹80 (sales)
   Expense: ₹100 (stall fee)
   Expense: ₹80 (ribbon)
   How much is the loss (in ₹)?
10. 10.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
11. 11.Vihaan’s stall took in ₹90 on Friday, ₹300 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
12. 12.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) paying the stall fee (d) payment for a cake order
13. 13.Aarav’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹260 (ribbon)
    Expense: ₹50 (transport)
    How much is the loss (in ₹)?
14. 14.Kabir’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹60 (posters)
    Expense: ₹200 (stall fee)
    What is the profit (in ₹)?
15. 15.Joseph’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹20 (ribbon)
    Expense: ₹70 (sugar)
    How much is the loss (in ₹)?
16. 16.Arjun’s income was ₹180 and the profit was ₹90. One expense was ₹70 (transport). How much was the other expense, for paper cups (in ₹)?
17. 17.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) money from sales (d) bus fare to the market
18. 18.Lakshmi’s stall took in ₹110 on Friday, ₹80 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
19. 19.Arjun’s record for the day:
    Income: ₹570 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹180 (stall fee)
    Expense: ₹130 (paper cups)
    What is the profit (in ₹)?
20. 20.Zoya’s income was ₹470 and the profit was ₹110. One expense was ₹120 (stall fee). How much was the other expense, for sugar (in ₹)?
21. 21.Rohan’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹90 (card paper)
    Expense: ₹70 (transport)
    What is the profit (in ₹)?
22. 22.True or false: “buying lemons” is income (money in). (a) True (b) False
23. 23.Ishaan’s stall took in ₹290 on Friday, ₹300 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
24. 24.📒 Income or expense: money from sales? (a) expense (b) income
25. 25.Arjun’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹190 (transport)
    Expense: ₹60 (sugar)
    How much is the loss (in ₹)?
26. 26.📒 Income or expense: printing posters? (a) expense (b) income
27. 27.Vihaan’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹50 (paper cups)
    Expense: ₹190 (posters)
    What is the profit (in ₹)?
28. 28.Joseph’s income was ₹430 and the profit was ₹60. One expense was ₹310 (ribbon). How much was the other expense, for lemons (in ₹)?
29. 29.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) money from sales (d) buying lemons
30. 30.📅 When is the best time to update your records? (a) whenever you like (b) never (c) once a year (d) the same day
31. 31.Which of these is income (money in)? (a) tutoring fees received (b) buying paper cups (c) paying the stall fee (d) buying lemons
32. 32.Ananya’s stall took in ₹70 on Friday, ₹80 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
33. 33.True or false: “cash from selling plants” is income (money in). (a) True (b) False
34. 34.Farhan’s income was ₹190 and the profit was ₹100. One expense was ₹80 (posters). How much was the other expense, for card paper (in ₹)?
35. 35.Tara’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹40 (lemons)
    Expense: ₹230 (transport)
    How much is the loss (in ₹)?
36. 36.📒 Income or expense: tutoring fees received? (a) expense (b) income
37. 37.Dev’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹20 (stall fee)
    Expense: ₹160 (ribbon)
    What is the profit (in ₹)?
38. 38.True or false: “buying paper cups” is income (money in). (a) False (b) True
39. 39.Zoya’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹250 (sugar)
    Expense: ₹50 (lemons)
    How much is the loss (in ₹)?
40. 40.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False

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