Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 741 · 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.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
2. 2.Meera’s record for the day:
   Income: ₹170 (morning sales)
   Income: ₹290 (evening sales)
   Expense: ₹180 (transport)
   Expense: ₹160 (paper cups)
   What is the profit (in ₹)?
3. 3.Dev’s income was ₹180 and the profit was ₹60. One expense was ₹40 (transport). How much was the other expense, for stall fee (in ₹)?
4. 4.Ishaan’s stall took in ₹210 on Friday, ₹210 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
5. 5.True or false: “printing posters” is income (money in). (a) False (b) True
6. 6.Farhan’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹530 (evening sales)
   Expense: ₹130 (stall fee)
   Expense: ₹130 (posters)
   What is the profit (in ₹)?
7. 7.Which of these is income (money in)? (a) bus fare to the market (b) a card order paid (c) printing posters (d) buying paper cups
8. 8.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) a selfie (d) the bill or receipt
9. 9.📒 Income or expense: money from sales? (a) income (b) expense
10. 10.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) just the income (d) expenses − income
11. 11.📒 Income or expense: buying paper cups? (a) expense (b) income
12. 12.Arjun’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹120 (posters)
    Expense: ₹60 (ribbon)
    What is the profit (in ₹)?
13. 13.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) no reason (d) to fill a notebook
14. 14.Kabir’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹70 (ribbon)
    Expense: ₹180 (stall fee)
    What is the profit (in ₹)?
15. 15.Zoya’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹90 (card paper)
    Expense: ₹160 (posters)
    How much is the loss (in ₹)?
16. 16.📅 When is the best time to update your records? (a) never (b) once a year (c) the same day (d) whenever you like
17. 17.Ananya’s stall took in ₹320 on Friday, ₹120 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
18. 18.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
19. 19.Aarav’s income was ₹280 and the profit was ₹230. One expense was ₹20 (posters). How much was the other expense, for sugar (in ₹)?
20. 20.True or false: “buying paper cups” is income (money in). (a) False (b) True
21. 21.Zoya’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹380 (evening sales)
    Expense: ₹180 (transport)
    Expense: ₹70 (sugar)
    What is the profit (in ₹)?
22. 22.Riya’s record for the day:
    Income: ₹430 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹130 (transport)
    Expense: ₹170 (ribbon)
    What is the profit (in ₹)?
23. 23.Gurpreet’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹120 (ribbon)
    Expense: ₹60 (card paper)
    How much is the loss (in ₹)?
24. 24.True or false: “a card order paid” is an expense (money out). (a) False (b) True
25. 25.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) a card order paid (d) buying paper cups
26. 26.Joseph’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹50 (posters)
    Expense: ₹180 (stall fee)
    What is the profit (in ₹)?
27. 27.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) cash from selling plants (d) buying lemons
28. 28.Diya’s stall took in ₹80 on Friday, ₹330 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
29. 29.📒 Income or expense: paying the stall fee? (a) income (b) expense
30. 30.True or false: “a card order paid” is income (money in). (a) False (b) True
31. 31.Arjun’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹60 (card paper)
    Expense: ₹160 (paper cups)
    How much is the loss (in ₹)?
32. 32.📒 Income or expense: tutoring fees received? (a) income (b) expense
33. 33.📒 Income or expense: cash from selling plants? (a) expense (b) income
34. 34.Ishaan’s stall took in ₹340 on Friday, ₹60 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
35. 35.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) paying the stall fee (d) tutoring fees received
36. 36.Meera’s record for the day:
    Income: ₹580 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹170 (lemons)
    Expense: ₹200 (ribbon)
    What is the profit (in ₹)?
37. 37.📒 Income or expense: payment for a cake order? (a) expense (b) income
38. 38.Diya’s income was ₹490 and the profit was ₹310. One expense was ₹40 (paper cups). How much was the other expense, for sugar (in ₹)?
39. 39.Gurpreet’s record for the day:
    Income: ₹450 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹130 (sugar)
    Expense: ₹150 (paper cups)
    What is the profit (in ₹)?
40. 40.Meera’s income was ₹490 and the profit was ₹40. One expense was ₹230 (lemons). How much was the other expense, for stall fee (in ₹)?

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