Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 769 · 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) a selfie (b) the bill or receipt (c) nothing (d) only the bag
2. 2.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) cash from selling plants (d) printing posters
3. 3.📒 Income or expense: money from sales? (a) income (b) expense
4. 4.Gurpreet’s record for a rainy day:
   Income: ₹120 (sales)
   Expense: ₹30 (card paper)
   Expense: ₹110 (ribbon)
   How much is the loss (in ₹)?
5. 5.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) a card order paid (d) bus fare to the market
6. 6.Aarav’s record for the day:
   Income: ₹370 (morning sales)
   Income: ₹80 (evening sales)
   Expense: ₹160 (lemons)
   Expense: ₹60 (ribbon)
   What is the profit (in ₹)?
7. 7.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) tutoring fees received (d) bus fare to the market
8. 8.Which of these is income (money in)? (a) cash from selling plants (b) buying paper cups (c) paying the stall fee (d) printing posters
9. 9.True or false: “money from sales” is an expense (money out). (a) False (b) True
10. 10.📅 When is the best time to update your records? (a) once a year (b) never (c) the same day (d) whenever you like
11. 11.Vihaan’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹120 (sugar)
    Expense: ₹120 (lemons)
    What is the profit (in ₹)?
12. 12.Lakshmi’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹50 (posters)
    Expense: ₹120 (paper cups)
    How much is the loss (in ₹)?
13. 13.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) just the income (d) income + expenses
14. 14.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
15. 15.📒 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
16. 16.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
17. 17.True or false: “cash from selling plants” is income (money in). (a) True (b) False
18. 18.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) money from sales (d) printing posters
19. 19.Ananya’s stall took in ₹340 on Friday, ₹310 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
20. 20.Ananya’s stall took in ₹70 on Friday, ₹100 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
21. 21.True or false: “payment for a cake order” is income (money in). (a) False (b) True
22. 22.Which of these is an expense (money out)? (a) tutoring fees received (b) buying paper cups (c) payment for a cake order (d) a card order paid
23. 23.Which of these is an expense (money out)? (a) paying the stall fee (b) money from sales (c) tutoring fees received (d) cash from selling plants
24. 24.Riya’s stall took in ₹80 on Friday, ₹50 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
25. 25.📒 Income or expense: buying lemons? (a) expense (b) income
26. 26.📒 Income or expense: buying paper cups? (a) expense (b) income
27. 27.Vihaan’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹20 (transport)
    Expense: ₹50 (lemons)
    What is the profit (in ₹)?
28. 28.Meera’s income was ₹440 and the profit was ₹90. One expense was ₹80 (lemons). How much was the other expense, for ribbon (in ₹)?
29. 29.Ananya’s stall took in ₹340 on Friday, ₹300 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
30. 30.Which of these is an expense (money out)? (a) bus fare to the market (b) payment for a cake order (c) money from sales (d) a card order paid
31. 31.Kabir’s stall took in ₹230 on Friday, ₹180 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
32. 32.Lakshmi’s stall took in ₹80 on Friday, ₹320 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
33. 33.📒 Income or expense: printing posters? (a) income (b) expense
34. 34.True or false: “a card order paid” is income (money in). (a) True (b) False
35. 35.Nisha’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹440 (evening sales)
    Expense: ₹180 (lemons)
    Expense: ₹180 (transport)
    What is the profit (in ₹)?
36. 36.Meera’s stall took in ₹50 on Friday, ₹120 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
37. 37.Riya’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹20 (stall fee)
    Expense: ₹50 (ribbon)
    What is the profit (in ₹)?
38. 38.Saanvi’s stall took in ₹90 on Friday, ₹110 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
39. 39.Nisha’s income was ₹330 and the profit was ₹60. One expense was ₹10 (sugar). How much was the other expense, for lemons (in ₹)?
40. 40.Aarav’s record for the day:
    Income: ₹500 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹60 (posters)
    Expense: ₹190 (transport)
    What is the profit (in ₹)?

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