Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 820 · 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.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to fill a notebook (d) to look busy
2. 2.Which of these is an expense (money out)? (a) bus fare to the market (b) tutoring fees received (c) a card order paid (d) money from sales
3. 3.Nisha’s record for a rainy day:
   Income: ₹130 (sales)
   Expense: ₹120 (sugar)
   Expense: ₹20 (card paper)
   How much is the loss (in ₹)?
4. 4.Aarav’s record for the day:
   Income: ₹270 (morning sales)
   Income: ₹190 (evening sales)
   Expense: ₹140 (lemons)
   Expense: ₹110 (posters)
   What is the profit (in ₹)?
5. 5.📒 Income or expense: printing posters? (a) expense (b) income
6. 6.True or false: “a card order paid” is an expense (money out). (a) True (b) False
7. 7.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
8. 8.📒 Income or expense: buying paper cups? (a) expense (b) income
9. 9.Meera’s stall took in ₹180 on Friday, ₹310 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
10. 10.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
11. 11.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) paying the stall fee (d) tutoring fees received
12. 12.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) never (d) once a year
13. 13.Ananya’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹50 (stall fee)
    Expense: ₹60 (lemons)
    How much is the loss (in ₹)?
14. 14.📒 Income or expense: a card order paid? (a) income (b) expense
15. 15.Kabir’s income was ₹150 and the profit was ₹80. One expense was ₹10 (stall fee). How much was the other expense, for paper cups (in ₹)?
16. 16.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) expenses − income (d) just the income
17. 17.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) only the bag (d) the bill or receipt
18. 18.True or false: “money from sales” is income (money in). (a) True (b) False
19. 19.📒 Income or expense: tutoring fees received? (a) expense (b) income
20. 20.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) buying lemons (d) cash from selling plants
21. 21.📒 Income or expense: bus fare to the market? (a) expense (b) income
22. 22.Farhan’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹150 (sugar)
    Expense: ₹60 (ribbon)
    What is the profit (in ₹)?
23. 23.Riya’s income was ₹160 and the profit was ₹90. One expense was ₹10 (stall fee). How much was the other expense, for card paper (in ₹)?
24. 24.Ishaan’s stall took in ₹220 on Friday, ₹340 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
25. 25.True or false: “cash from selling plants” is income (money in). (a) True (b) False
26. 26.Meera’s stall took in ₹150 on Friday, ₹340 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
27. 27.Lakshmi’s stall took in ₹110 on Friday, ₹50 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
28. 28.True or false: “bus fare to the market” is income (money in). (a) True (b) False
29. 29.Zoya’s stall took in ₹190 on Friday, ₹350 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
30. 30.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) paying the stall fee (d) a card order paid
31. 31.Ishaan’s stall took in ₹100 on Friday, ₹160 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
32. 32.Rohan’s stall took in ₹110 on Friday, ₹170 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
33. 33.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
34. 34.📒 Income or expense: money from sales? (a) income (b) expense
35. 35.Farhan’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹90 (paper cups)
    Expense: ₹70 (ribbon)
    What is the profit (in ₹)?
36. 36.Farhan’s income was ₹350 and the profit was ₹260. One expense was ₹40 (paper cups). How much was the other expense, for transport (in ₹)?
37. 37.📒 Income or expense: paying the stall fee? (a) expense (b) income
38. 38.Kabir’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹40 (sugar)
    Expense: ₹210 (lemons)
    How much is the loss (in ₹)?
39. 39.True or false: “printing posters” is an expense (money out). (a) False (b) True
40. 40.Gurpreet’s stall took in ₹130 on Friday, ₹100 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?

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