Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 818 · 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) once a year (d) the same day
2. 2.True or false: “tutoring fees received” is income (money in). (a) True (b) False
3. 3.Aarav’s income was ₹160 and the profit was ₹100. One expense was ₹40 (card paper). How much was the other expense, for ribbon (in ₹)?
4. 4.Arjun’s stall took in ₹310 on Friday, ₹150 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
5. 5.Zoya’s income was ₹430 and the profit was ₹230. One expense was ₹170 (lemons). How much was the other expense, for transport (in ₹)?
6. 6.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) only the bag (d) nothing
7. 7.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) payment for a cake order (d) printing posters
8. 8.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) money from sales (d) buying paper cups
9. 9.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) money from sales (d) buying paper cups
10. 10.Kavya’s income was ₹430 and the profit was ₹60. One expense was ₹170 (transport). How much was the other expense, for paper cups (in ₹)?
11. 11.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) bus fare to the market (d) tutoring fees received
12. 12.📒 Income or expense: buying paper cups? (a) expense (b) income
13. 13.Farhan’s income was ₹410 and the profit was ₹20. One expense was ₹160 (stall fee). How much was the other expense, for ribbon (in ₹)?
14. 14.Zoya’s income was ₹390 and the profit was ₹250. One expense was ₹70 (transport). How much was the other expense, for paper cups (in ₹)?
15. 15.Arjun’s stall took in ₹300 on Friday, ₹270 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
16. 16.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to know the real profit (d) to fill a notebook
17. 17.Kavya’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹160 (paper cups)
    Expense: ₹60 (stall fee)
    How much is the loss (in ₹)?
18. 18.📒 Income or expense: money from sales? (a) income (b) expense
19. 19.Saanvi’s stall took in ₹380 on Friday, ₹280 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
20. 20.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) printing posters (d) payment for a cake order
21. 21.Tara’s income was ₹240 and the profit was ₹20. One expense was ₹100 (lemons). How much was the other expense, for transport (in ₹)?
22. 22.📒 Income or expense: payment for a cake order? (a) expense (b) income
23. 23.Lakshmi’s income was ₹380 and the profit was ₹310. One expense was ₹60 (lemons). How much was the other expense, for transport (in ₹)?
24. 24.Saanvi’s stall took in ₹340 on Friday, ₹50 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
25. 25.📒 Income or expense: tutoring fees received? (a) income (b) expense
26. 26.Aarav’s income was ₹500 and the profit was ₹320. One expense was ₹20 (card paper). How much was the other expense, for stall fee (in ₹)?
27. 27.Diya’s income was ₹290 and the profit was ₹170. One expense was ₹100 (posters). How much was the other expense, for ribbon (in ₹)?
28. 28.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
29. 29.📒 Income or expense: printing posters? (a) expense (b) income
30. 30.Kavya’s stall took in ₹260 on Friday, ₹160 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
31. 31.Ishaan’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹80 (card paper)
    Expense: ₹20 (lemons)
    What is the profit (in ₹)?
32. 32.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
33. 33.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) expenses − income (d) just the income
34. 34.📒 Income or expense: paying the stall fee? (a) expense (b) income
35. 35.Rohan’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹20 (paper cups)
    Expense: ₹30 (stall fee)
    What is the profit (in ₹)?
36. 36.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
37. 37.Ananya’s stall took in ₹350 on Friday, ₹290 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
38. 38.Dev’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹70 (paper cups)
    Expense: ₹80 (sugar)
    What is the profit (in ₹)?
39. 39.Kabir’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹190 (stall fee)
    Expense: ₹50 (sugar)
    What is the profit (in ₹)?
40. 40.Kavya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹40 (card paper)
    Expense: ₹160 (lemons)
    What is the profit (in ₹)?

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