Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 884 · 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.📒 Income or expense: payment for a cake order? (a) income (b) expense
2. 2.Diya’s record for the day:
   Income: ₹120 (morning sales)
   Income: ₹50 (evening sales)
   Expense: ₹20 (card paper)
   Expense: ₹80 (ribbon)
   What is the profit (in ₹)?
3. 3.True or false: “money from sales” is income (money in). (a) True (b) False
4. 4.Meera’s income was ₹120 and the profit was ₹70. One expense was ₹10 (sugar). How much was the other expense, for card paper (in ₹)?
5. 5.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) buying paper cups (d) payment for a cake order
6. 6.Which of these is income (money in)? (a) printing posters (b) cash from selling plants (c) buying paper cups (d) buying lemons
7. 7.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) just the income (d) expenses − income
8. 8.Farhan’s record for a rainy day:
   Income: ₹240 (sales)
   Expense: ₹80 (paper cups)
   Expense: ₹180 (posters)
   How much is the loss (in ₹)?
9. 9.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) money from sales (d) paying the stall fee
10. 10.True or false: “tutoring fees received” is income (money in). (a) False (b) True
11. 11.Which of these is an expense (money out)? (a) tutoring fees received (b) bus fare to the market (c) money from sales (d) a card order paid
12. 12.Vihaan’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹100 (stall fee)
    Expense: ₹20 (transport)
    How much is the loss (in ₹)?
13. 13.Vihaan’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹200 (lemons)
    Expense: ₹50 (stall fee)
    How much is the loss (in ₹)?
14. 14.Kabir’s stall took in ₹90 on Friday, ₹50 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
15. 15.📒 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
16. 16.Lakshmi’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹80 (lemons)
    Expense: ₹260 (stall fee)
    How much is the loss (in ₹)?
17. 17.Aarav’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹20 (sugar)
    What is the profit (in ₹)?
18. 18.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
19. 19.Saanvi’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹140 (paper cups)
    Expense: ₹60 (posters)
    What is the profit (in ₹)?
20. 20.📒 Income or expense: a card order paid? (a) expense (b) income
21. 21.📒 Income or expense: buying lemons? (a) expense (b) income
22. 22.True or false: “printing posters” is an expense (money out). (a) False (b) True
23. 23.📒 Income or expense: buying paper cups? (a) income (b) expense
24. 24.True or false: “a card order paid” is income (money in). (a) False (b) True
25. 25.Meera’s income was ₹350 and the profit was ₹120. One expense was ₹70 (lemons). How much was the other expense, for transport (in ₹)?
26. 26.Farhan’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹60 (posters)
    Expense: ₹20 (lemons)
    What is the profit (in ₹)?
27. 27.Meera’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹10 (lemons)
    Expense: ₹300 (ribbon)
    How much is the loss (in ₹)?
28. 28.Kavya’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹40 (stall fee)
    Expense: ₹120 (ribbon)
    How much is the loss (in ₹)?
29. 29.Dev’s income was ₹260 and the profit was ₹100. One expense was ₹120 (ribbon). How much was the other expense, for card paper (in ₹)?
30. 30.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) bus fare to the market (d) tutoring fees received
31. 31.Vihaan’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹100 (stall fee)
    Expense: ₹80 (lemons)
    What is the profit (in ₹)?
32. 32.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) printing posters (d) money from sales
33. 33.Kabir’s record for the day:
    Income: ₹500 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹60 (sugar)
    Expense: ₹190 (posters)
    What is the profit (in ₹)?
34. 34.Riya’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹60 (sugar)
    How much is the loss (in ₹)?
35. 35.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
36. 36.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) nothing (d) the bill or receipt
37. 37.📒 Income or expense: money from sales? (a) income (b) expense
38. 38.Aarav’s stall took in ₹160 on Friday, ₹200 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
39. 39.📒 Income or expense: tutoring fees received? (a) income (b) expense
40. 40.📒 Income or expense: paying the stall fee? (a) income (b) expense

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