Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 840 · 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) once a year (b) never (c) whenever you like (d) the same day
2. 2.Nisha’s record for a rainy day:
   Income: ₹190 (sales)
   Expense: ₹10 (sugar)
   Expense: ₹260 (ribbon)
   How much is the loss (in ₹)?
3. 3.📒 Income or expense: buying lemons? (a) income (b) expense
4. 4.Vihaan’s record for the day:
   Income: ₹380 (morning sales)
   Income: ₹20 (evening sales)
   Expense: ₹100 (lemons)
   Expense: ₹140 (ribbon)
   What is the profit (in ₹)?
5. 5.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) buying paper cups (d) cash from selling plants
6. 6.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
7. 7.Which of these is income (money in)? (a) paying the stall fee (b) tutoring fees received (c) bus fare to the market (d) buying paper cups
8. 8.Meera’s record for a rainy day:
   Income: ₹130 (sales)
   Expense: ₹50 (lemons)
   Expense: ₹110 (ribbon)
   How much is the loss (in ₹)?
9. 9.Dev’s stall took in ₹80 on Friday, ₹180 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
10. 10.Ishaan’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹160 (card paper)
    Expense: ₹150 (lemons)
    How much is the loss (in ₹)?
11. 11.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) printing posters (d) cash from selling plants
12. 12.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) money from sales (d) bus fare to the market
13. 13.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) to fill a notebook (d) no reason
14. 14.Rohan’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹120 (sugar)
    What is the profit (in ₹)?
15. 15.True or false: “a card order paid” is an expense (money out). (a) False (b) True
16. 16.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) buying lemons (d) tutoring fees received
17. 17.Rohan’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹90 (card paper)
    Expense: ₹80 (sugar)
    How much is the loss (in ₹)?
18. 18.📒 Income or expense: cash from selling plants? (a) income (b) expense
19. 19.Which of these is an expense (money out)? (a) bus fare to the market (b) money from sales (c) payment for a cake order (d) tutoring fees received
20. 20.Aarav’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹20 (stall fee)
    What is the profit (in ₹)?
21. 21.Meera’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹40 (transport)
    Expense: ₹80 (posters)
    How much is the loss (in ₹)?
22. 22.True or false: “money from sales” is income (money in). (a) False (b) True
23. 23.Tara’s stall took in ₹400 on Friday, ₹230 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
24. 24.Joseph’s stall took in ₹90 on Friday, ₹100 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
25. 25.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) buying paper cups (d) payment for a cake order
26. 26.Ananya’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹60 (sugar)
    Expense: ₹150 (posters)
    What is the profit (in ₹)?
27. 27.📒 Income or expense: bus fare to the market? (a) expense (b) income
28. 28.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) just the income (d) expenses − income
29. 29.Nisha’s stall took in ₹100 on Friday, ₹320 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
30. 30.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
31. 31.Ishaan’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹50 (sugar)
    Expense: ₹180 (paper cups)
    What is the profit (in ₹)?
32. 32.Dev’s income was ₹290 and the profit was ₹180. One expense was ₹60 (stall fee). How much was the other expense, for sugar (in ₹)?
33. 33.True or false: “paying the stall fee” is income (money in). (a) False (b) True
34. 34.📒 Income or expense: tutoring fees received? (a) income (b) expense
35. 35.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
36. 36.Lakshmi’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹160 (transport)
    Expense: ₹40 (lemons)
    How much is the loss (in ₹)?
37. 37.Which of these is income (money in)? (a) buying paper cups (b) a card order paid (c) printing posters (d) buying lemons
38. 38.Vihaan’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹90 (sugar)
    Expense: ₹70 (card paper)
    How much is the loss (in ₹)?
39. 39.True or false: “buying lemons” is an expense (money out). (a) True (b) False
40. 40.Kabir’s stall took in ₹300 on Friday, ₹130 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?

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