Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 830 · 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.True or false: “printing posters” is an expense (money out). (a) False (b) True
2. 2.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) printing posters (d) a card order paid
3. 3.Farhan’s record for the day:
   Income: ₹20 (morning sales)
   Income: ₹240 (evening sales)
   Expense: ₹150 (paper cups)
   Expense: ₹20 (posters)
   What is the profit (in ₹)?
4. 4.Diya’s stall took in ₹200 on Friday, ₹200 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
5. 5.Meera’s stall took in ₹260 on Friday, ₹220 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
6. 6.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) cash from selling plants (d) buying paper cups
7. 7.Ananya’s record for a rainy day:
   Income: ₹260 (sales)
   Expense: ₹170 (posters)
   Expense: ₹130 (paper cups)
   How much is the loss (in ₹)?
8. 8.Tara’s record for the day:
   Income: ₹260 (morning sales)
   Income: ₹70 (evening sales)
   Expense: ₹130 (stall fee)
   Expense: ₹70 (ribbon)
   What is the profit (in ₹)?
9. 9.📅 When is the best time to update your records? (a) once a year (b) the same day (c) never (d) whenever you like
10. 10.Ishaan’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹60 (card paper)
    Expense: ₹60 (stall fee)
    What is the profit (in ₹)?
11. 11.📒 Income or expense: money from sales? (a) expense (b) income
12. 12.📒 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
13. 13.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
14. 14.Arjun’s stall took in ₹240 on Friday, ₹190 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
15. 15.Which of these is income (money in)? (a) buying paper cups (b) payment for a cake order (c) buying lemons (d) printing posters
16. 16.Riya’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹110 (card paper)
    Expense: ₹20 (transport)
    How much is the loss (in ₹)?
17. 17.Tara’s stall took in ₹50 on Friday, ₹160 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
18. 18.📒 Income or expense: printing posters? (a) income (b) expense
19. 19.True or false: “money from sales” is an expense (money out). (a) True (b) False
20. 20.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) paying the stall fee (d) a card order paid
21. 21.Rohan’s income was ₹130 and the profit was ₹40. One expense was ₹70 (lemons). How much was the other expense, for paper cups (in ₹)?
22. 22.Dev’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹170 (transport)
    Expense: ₹70 (card paper)
    What is the profit (in ₹)?
23. 23.Vihaan’s income was ₹500 and the profit was ₹130. One expense was ₹70 (posters). How much was the other expense, for ribbon (in ₹)?
24. 24.Which of these is an expense (money out)? (a) a card order paid (b) buying lemons (c) cash from selling plants (d) money from sales
25. 25.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
26. 26.Meera’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹100 (posters)
    Expense: ₹100 (card paper)
    What is the profit (in ₹)?
27. 27.Vihaan’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹600 (evening sales)
    Expense: ₹190 (posters)
    Expense: ₹180 (lemons)
    What is the profit (in ₹)?
28. 28.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) the bill or receipt (d) only the bag
29. 29.Lakshmi’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹100 (stall fee)
    Expense: ₹40 (posters)
    What is the profit (in ₹)?
30. 30.Which of these is income (money in)? (a) buying lemons (b) tutoring fees received (c) bus fare to the market (d) printing posters
31. 31.Ananya’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹80 (paper cups)
    Expense: ₹170 (sugar)
    What is the profit (in ₹)?
32. 32.Gurpreet’s income was ₹210 and the profit was ₹160. One expense was ₹10 (sugar). How much was the other expense, for transport (in ₹)?
33. 33.True or false: “buying lemons” is income (money in). (a) True (b) False
34. 34.Meera’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹90 (paper cups)
    Expense: ₹90 (ribbon)
    How much is the loss (in ₹)?
35. 35.Rohan’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹20 (ribbon)
    Expense: ₹200 (stall fee)
    What is the profit (in ₹)?
36. 36.Farhan’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹150 (ribbon)
    Expense: ₹90 (paper cups)
    What is the profit (in ₹)?
37. 37.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) just the income (d) income − expenses
38. 38.Ananya’s stall took in ₹280 on Friday, ₹190 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
39. 39.📒 Income or expense: paying the stall fee? (a) income (b) expense
40. 40.Which of these is an expense (money out)? (a) a card order paid (b) bus fare to the market (c) tutoring fees received (d) payment for a cake order

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