Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 825 · 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) once a year (c) whenever you like (d) never
2. 2.Tara’s record for a rainy day:
   Income: ₹80 (sales)
   Expense: ₹10 (ribbon)
   Expense: ₹80 (posters)
   How much is the loss (in ₹)?
3. 3.Which of these is income (money in)? (a) paying the stall fee (b) payment for a cake order (c) printing posters (d) bus fare to the market
4. 4.📒 Income or expense: buying lemons? (a) income (b) expense
5. 5.True or false: “paying the stall fee” is income (money in). (a) False (b) True
6. 6.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) nothing (d) a selfie
7. 7.Diya’s record for a rainy day:
   Income: ₹50 (sales)
   Expense: ₹10 (ribbon)
   Expense: ₹90 (card paper)
   How much is the loss (in ₹)?
8. 8.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) cash from selling plants (d) buying paper cups
9. 9.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
10. 10.📒 Income or expense: a card order paid? (a) income (b) expense
11. 11.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) income + expenses (d) just the income
12. 12.📒 Income or expense: paying the stall fee? (a) income (b) expense
13. 13.Kavya’s stall took in ₹180 on Friday, ₹380 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
14. 14.📒 Income or expense: tutoring fees received? (a) expense (b) income
15. 15.Diya’s stall took in ₹280 on Friday, ₹400 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
16. 16.Diya’s income was ₹190 and the profit was ₹10. One expense was ₹130 (transport). How much was the other expense, for posters (in ₹)?
17. 17.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
18. 18.📒 Income or expense: buying paper cups? (a) income (b) expense
19. 19.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to fill a notebook (d) to know the real profit
20. 20.Aarav’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹150 (paper cups)
    Expense: ₹70 (posters)
    What is the profit (in ₹)?
21. 21.Rohan’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹120 (ribbon)
    Expense: ₹20 (posters)
    What is the profit (in ₹)?
22. 22.True or false: “printing posters” is an expense (money out). (a) True (b) False
23. 23.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) buying paper cups (d) tutoring fees received
24. 24.Farhan’s income was ₹350 and the profit was ₹50. One expense was ₹190 (stall fee). How much was the other expense, for posters (in ₹)?
25. 25.Zoya’s record for the day:
    Income: ₹370 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹150 (paper cups)
    Expense: ₹70 (ribbon)
    What is the profit (in ₹)?
26. 26.Joseph’s stall took in ₹110 on Friday, ₹190 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
27. 27.Ishaan’s income was ₹200 and the profit was ₹120. One expense was ₹20 (lemons). How much was the other expense, for sugar (in ₹)?
28. 28.Rohan’s income was ₹390 and the profit was ₹90. One expense was ₹20 (ribbon). How much was the other expense, for card paper (in ₹)?
29. 29.Which of these is income (money in)? (a) money from sales (b) buying lemons (c) paying the stall fee (d) bus fare to the market
30. 30.Gurpreet’s income was ₹300 and the profit was ₹240. One expense was ₹40 (sugar). How much was the other expense, for posters (in ₹)?
31. 31.Gurpreet’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹120 (paper cups)
    Expense: ₹40 (card paper)
    How much is the loss (in ₹)?
32. 32.True or false: “printing posters” is income (money in). (a) True (b) False
33. 33.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) tutoring fees received (d) buying paper cups
34. 34.Gurpreet’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹110 (sugar)
    Expense: ₹10 (transport)
    How much is the loss (in ₹)?
35. 35.Rohan’s income was ₹160 and the profit was ₹20. One expense was ₹70 (sugar). How much was the other expense, for lemons (in ₹)?
36. 36.Saanvi’s stall took in ₹120 on Friday, ₹70 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
37. 37.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
38. 38.Diya’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹160 (paper cups)
    Expense: ₹180 (sugar)
    What is the profit (in ₹)?
39. 39.Aarav’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹90 (lemons)
    What is the profit (in ₹)?
40. 40.True or false: “payment for a cake order” is income (money in). (a) False (b) True

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