Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 843 · 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.Vihaan’s record for the day:
   Income: ₹190 (morning sales)
   Income: ₹240 (evening sales)
   Expense: ₹160 (ribbon)
   Expense: ₹110 (lemons)
   What is the profit (in ₹)?
3. 3.📒 Income or expense: paying the stall fee? (a) income (b) expense
4. 4.True or false: “printing posters” is an expense (money out). (a) True (b) False
5. 5.Arjun’s income was ₹100 and the profit was ₹40. One expense was ₹10 (paper cups). How much was the other expense, for sugar (in ₹)?
6. 6.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) paying the stall fee (d) a card order paid
7. 7.Saanvi’s stall took in ₹60 on Friday, ₹400 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
8. 8.True or false: “cash from selling plants” is income (money in). (a) False (b) True
9. 9.📒 Income or expense: bus fare to the market? (a) income (b) expense
10. 10.True or false: “buying lemons” is an expense (money out). (a) True (b) False
11. 11.Diya’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹130 (paper cups)
    Expense: ₹210 (lemons)
    How much is the loss (in ₹)?
12. 12.True or false: “buying lemons” is income (money in). (a) True (b) False
13. 13.Which of these is an expense (money out)? (a) tutoring fees received (b) printing posters (c) money from sales (d) cash from selling plants
14. 14.Ananya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹400 (evening sales)
    Expense: ₹50 (sugar)
    Expense: ₹180 (posters)
    What is the profit (in ₹)?
15. 15.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) printing posters (d) payment for a cake order
16. 16.True or false: “tutoring fees received” is income (money in). (a) False (b) True
17. 17.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
18. 18.Diya’s stall took in ₹260 on Friday, ₹250 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
19. 19.📅 When is the best time to update your records? (a) once a year (b) the same day (c) never (d) whenever you like
20. 20.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) nothing (d) a selfie
21. 21.Kavya’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹150 (card paper)
    Expense: ₹30 (transport)
    What is the profit (in ₹)?
22. 22.True or false: “money from sales” is an expense (money out). (a) False (b) True
23. 23.📒 Income or expense: money from sales? (a) expense (b) income
24. 24.📒 Income or expense: printing posters? (a) expense (b) income
25. 25.Kavya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹20 (transport)
    Expense: ₹160 (stall fee)
    What is the profit (in ₹)?
26. 26.Zoya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹110 (ribbon)
    Expense: ₹200 (paper cups)
    What is the profit (in ₹)?
27. 27.📒 Income or expense: tutoring fees received? (a) expense (b) income
28. 28.Diya’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹100 (stall fee)
    Expense: ₹40 (posters)
    What is the profit (in ₹)?
29. 29.Nisha’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹130 (ribbon)
    Expense: ₹20 (sugar)
    What is the profit (in ₹)?
30. 30.True or false: “payment for a cake order” is income (money in). (a) True (b) False
31. 31.Rohan’s income was ₹440 and the profit was ₹40. One expense was ₹60 (posters). How much was the other expense, for lemons (in ₹)?
32. 32.📒 Income or expense: cash from selling plants? (a) income (b) expense
33. 33.Lakshmi’s record for the day:
    Income: ₹530 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹140 (sugar)
    Expense: ₹180 (transport)
    What is the profit (in ₹)?
34. 34.Which of these is income (money in)? (a) cash from selling plants (b) buying lemons (c) buying paper cups (d) bus fare to the market
35. 35.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
36. 36.True or false: “a card order paid” is an expense (money out). (a) False (b) True
37. 37.Diya’s income was ₹460 and the profit was ₹110. One expense was ₹270 (stall fee). How much was the other expense, for posters (in ₹)?
38. 38.Arjun’s stall took in ₹140 on Friday, ₹220 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
39. 39.Arjun’s income was ₹470 and the profit was ₹360. One expense was ₹40 (posters). How much was the other expense, for ribbon (in ₹)?
40. 40.True or false: “paying the stall fee” is income (money in). (a) False (b) True

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