Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 817 · 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) the same day (b) whenever you like (c) never (d) once a year
2. 2.Meera’s income was ₹130 and the profit was ₹90. One expense was ₹10 (card paper). How much was the other expense, for ribbon (in ₹)?
3. 3.Which of these is an expense (money out)? (a) money from sales (b) bus fare to the market (c) tutoring fees received (d) payment for a cake order
4. 4.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) nothing (d) only the bag
5. 5.Rohan’s income was ₹440 and the profit was ₹280. One expense was ₹90 (card paper). How much was the other expense, for posters (in ₹)?
6. 6.Meera’s record for the day:
   Income: ₹190 (morning sales)
   Income: ₹110 (evening sales)
   Expense: ₹40 (posters)
   Expense: ₹70 (ribbon)
   What is the profit (in ₹)?
7. 7.Aarav’s stall took in ₹300 on Friday, ₹310 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
8. 8.Which of these is income (money in)? (a) buying lemons (b) cash from selling plants (c) buying paper cups (d) printing posters
9. 9.True or false: “buying paper cups” is income (money in). (a) False (b) True
10. 10.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) to know the real profit (d) no reason
11. 11.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
12. 12.Arjun’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹140 (sugar)
    Expense: ₹60 (stall fee)
    What is the profit (in ₹)?
13. 13.📒 Income or expense: cash from selling plants? (a) income (b) expense
14. 14.Saanvi’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹190 (paper cups)
    Expense: ₹10 (posters)
    How much is the loss (in ₹)?
15. 15.Vihaan’s income was ₹410 and the profit was ₹120. One expense was ₹50 (sugar). How much was the other expense, for ribbon (in ₹)?
16. 16.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) paying the stall fee (d) a card order paid
17. 17.Vihaan’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹70 (lemons)
    Expense: ₹180 (posters)
    What is the profit (in ₹)?
18. 18.Which of these is income (money in)? (a) a card order paid (b) buying lemons (c) bus fare to the market (d) buying paper cups
19. 19.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) money from sales (d) buying lemons
20. 20.📒 Income or expense: bus fare to the market? (a) expense (b) income
21. 21.Gurpreet’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹110 (ribbon)
    Expense: ₹100 (posters)
    What is the profit (in ₹)?
22. 22.True or false: “a card order paid” is an expense (money out). (a) False (b) True
23. 23.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) paying the stall fee (d) money from sales
24. 24.📒 Income or expense: printing posters? (a) expense (b) income
25. 25.📒 Income or expense: money from sales? (a) expense (b) income
26. 26.Meera’s stall took in ₹60 on Friday, ₹270 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
27. 27.Tara’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹50 (paper cups)
    Expense: ₹30 (sugar)
    What is the profit (in ₹)?
28. 28.Nisha’s stall took in ₹80 on Friday, ₹190 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
29. 29.Tara’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹210 (sugar)
    Expense: ₹90 (stall fee)
    How much is the loss (in ₹)?
30. 30.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) buying paper cups (d) money from sales
31. 31.📒 Income or expense: payment for a cake order? (a) income (b) expense
32. 32.➖ Profit in your records = (a) just the income (b) expenses − income (c) income − expenses (d) income + expenses
33. 33.True or false: “tutoring fees received” is income (money in). (a) True (b) False
34. 34.Meera’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹20 (lemons)
    Expense: ₹190 (stall fee)
    What is the profit (in ₹)?
35. 35.Lakshmi’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹150 (card paper)
    Expense: ₹60 (transport)
    How much is the loss (in ₹)?
36. 36.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
37. 37.True or false: “printing posters” is an expense (money out). (a) True (b) False
38. 38.Kabir’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹160 (sugar)
    Expense: ₹130 (transport)
    What is the profit (in ₹)?
39. 39.True or false: “cash from selling plants” is income (money in). (a) False (b) True
40. 40.Diya’s stall took in ₹320 on Friday, ₹280 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?

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