Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 822 · 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) to fill a notebook (b) no reason (c) to look busy (d) to know the real profit
2. 2.📒 Income or expense: paying the stall fee? (a) income (b) expense
3. 3.📅 When is the best time to update your records? (a) once a year (b) never (c) the same day (d) whenever you like
4. 4.📒 Income or expense: a card order paid? (a) expense (b) income
5. 5.Ananya’s stall took in ₹310 on Friday, ₹350 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
6. 6.Which of these is income (money in)? (a) bus fare to the market (b) a card order paid (c) buying paper cups (d) paying the stall fee
7. 7.📒 Income or expense: tutoring fees received? (a) expense (b) income
8. 8.📒 Income or expense: payment for a cake order? (a) income (b) expense
9. 9.Nisha’s record for a rainy day:
   Income: ₹270 (sales)
   Expense: ₹60 (card paper)
   Expense: ₹270 (sugar)
   How much is the loss (in ₹)?
10. 10.Rohan’s stall took in ₹50 on Friday, ₹400 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
11. 11.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) buying paper cups (d) tutoring fees received
12. 12.Zoya’s stall took in ₹170 on Friday, ₹250 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
13. 13.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) buying paper cups (d) cash from selling plants
14. 14.Vihaan’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹100 (stall fee)
    Expense: ₹160 (posters)
    How much is the loss (in ₹)?
15. 15.📒 Income or expense: cash from selling plants? (a) income (b) expense
16. 16.Saanvi’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹50 (transport)
    What is the profit (in ₹)?
17. 17.Gurpreet’s stall took in ₹210 on Friday, ₹280 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
18. 18.Kabir’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹430 (evening sales)
    Expense: ₹160 (posters)
    Expense: ₹140 (paper cups)
    What is the profit (in ₹)?
19. 19.Tara’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹140 (transport)
    Expense: ₹30 (posters)
    What is the profit (in ₹)?
20. 20.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) payment for a cake order (d) printing posters
21. 21.Which of these is an expense (money out)? (a) a card order paid (b) buying paper cups (c) payment for a cake order (d) cash from selling plants
22. 22.True or false: “money from sales” is an expense (money out). (a) False (b) True
23. 23.True or false: “payment for a cake order” is income (money in). (a) True (b) False
24. 24.Meera’s stall took in ₹250 on Friday, ₹240 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
25. 25.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
26. 26.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) only the bag (d) the bill or receipt
27. 27.True or false: “a card order paid” is income (money in). (a) True (b) False
28. 28.Zoya’s income was ₹140 and the profit was ₹50. One expense was ₹40 (sugar). How much was the other expense, for stall fee (in ₹)?
29. 29.📒 Income or expense: buying lemons? (a) expense (b) income
30. 30.Diya’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹130 (ribbon)
    Expense: ₹50 (card paper)
    What is the profit (in ₹)?
31. 31.True or false: “printing posters” is income (money in). (a) False (b) True
32. 32.Meera’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹50 (posters)
    Expense: ₹110 (paper cups)
    How much is the loss (in ₹)?
33. 33.Gurpreet’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹130 (lemons)
    Expense: ₹210 (stall fee)
    How much is the loss (in ₹)?
34. 34.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
35. 35.Aarav’s stall took in ₹340 on Friday, ₹190 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
36. 36.Aarav’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹160 (stall fee)
    Expense: ₹40 (card paper)
    What is the profit (in ₹)?
37. 37.Gurpreet’s stall took in ₹80 on Friday, ₹300 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
38. 38.True or false: “buying lemons” is an expense (money out). (a) True (b) False
39. 39.Aarav’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹50 (posters)
    Expense: ₹70 (stall fee)
    What is the profit (in ₹)?
40. 40.Gurpreet’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹270 (posters)
    Expense: ₹70 (transport)
    How much is the loss (in ₹)?

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