Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 831 · 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.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) nothing (d) a selfie
2. 2.📒 Income or expense: a card order paid? (a) income (b) expense
3. 3.📒 Income or expense: money from sales? (a) expense (b) income
4. 4.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) money from sales (d) printing posters
5. 5.Lakshmi’s stall took in ₹270 on Friday, ₹190 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
6. 6.Riya’s stall took in ₹120 on Friday, ₹200 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
7. 7.Dev’s record for the day:
   Income: ₹160 (morning sales)
   Income: ₹340 (evening sales)
   Expense: ₹200 (card paper)
   Expense: ₹120 (sugar)
   What is the profit (in ₹)?
8. 8.Which of these is an expense (money out)? (a) tutoring fees received (b) paying the stall fee (c) a card order paid (d) cash from selling plants
9. 9.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to fill a notebook (d) to know the real profit
10. 10.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) never (d) once a year
11. 11.Which of these is an expense (money out)? (a) tutoring fees received (b) buying paper cups (c) cash from selling plants (d) money from sales
12. 12.True or false: “paying the stall fee” is income (money in). (a) True (b) False
13. 13.Ananya’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹60 (transport)
    Expense: ₹170 (stall fee)
    What is the profit (in ₹)?
14. 14.📒 Income or expense: buying paper cups? (a) income (b) expense
15. 15.True or false: “buying lemons” is an expense (money out). (a) False (b) True
16. 16.Rohan’s stall took in ₹80 on Friday, ₹370 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
17. 17.📒 Income or expense: bus fare to the market? (a) income (b) expense
18. 18.Gurpreet’s income was ₹400 and the profit was ₹160. One expense was ₹110 (sugar). How much was the other expense, for card paper (in ₹)?
19. 19.➖ Profit in your records = (a) just the income (b) income − expenses (c) expenses − income (d) income + expenses
20. 20.Farhan’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹80 (lemons)
    Expense: ₹150 (transport)
    How much is the loss (in ₹)?
21. 21.📒 Income or expense: printing posters? (a) expense (b) income
22. 22.Zoya’s stall took in ₹240 on Friday, ₹170 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
23. 23.Kavya’s income was ₹190 and the profit was ₹140. One expense was ₹30 (ribbon). How much was the other expense, for stall fee (in ₹)?
24. 24.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) cash from selling plants (d) buying lemons
25. 25.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) paying the stall fee (d) payment for a cake order
26. 26.True or false: “payment for a cake order” is income (money in). (a) False (b) True
27. 27.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) tutoring fees received (d) paying the stall fee
28. 28.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) a card order paid (d) buying lemons
29. 29.Aarav’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹100 (posters)
    Expense: ₹100 (paper cups)
    What is the profit (in ₹)?
30. 30.True or false: “bus fare to the market” is income (money in). (a) False (b) True
31. 31.Vihaan’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹50 (paper cups)
    Expense: ₹100 (posters)
    How much is the loss (in ₹)?
32. 32.Riya’s record for the day:
    Income: ₹410 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹80 (posters)
    Expense: ₹120 (lemons)
    What is the profit (in ₹)?
33. 33.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
34. 34.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
35. 35.Aarav’s stall took in ₹180 on Friday, ₹270 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
36. 36.Rohan’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹20 (sugar)
    Expense: ₹170 (transport)
    What is the profit (in ₹)?
37. 37.True or false: “tutoring fees received” is income (money in). (a) True (b) False
38. 38.Rohan’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹280 (stall fee)
    Expense: ₹30 (transport)
    How much is the loss (in ₹)?
39. 39.True or false: “cash from selling plants” is income (money in). (a) False (b) True
40. 40.True or false: “money from sales” is income (money in). (a) False (b) True

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