Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 906 · 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: money from sales? (a) income (b) expense
2. 2.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) never (d) the same day
3. 3.Tara’s stall took in ₹80 on Friday, ₹140 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
4. 4.📒 Income or expense: bus fare to the market? (a) expense (b) income
5. 5.📒 Income or expense: printing posters? (a) expense (b) income
6. 6.Kavya’s record for a rainy day:
   Income: ₹50 (sales)
   Expense: ₹20 (stall fee)
   Expense: ₹50 (sugar)
   How much is the loss (in ₹)?
7. 7.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
8. 8.Which of these is income (money in)? (a) paying the stall fee (b) money from sales (c) bus fare to the market (d) buying paper cups
9. 9.📒 Income or expense: buying lemons? (a) expense (b) income
10. 10.Ishaan’s stall took in ₹260 on Friday, ₹340 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
11. 11.Which of these is income (money in)? (a) paying the stall fee (b) tutoring fees received (c) printing posters (d) buying paper cups
12. 12.Kabir’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹90 (stall fee)
    Expense: ₹130 (posters)
    What is the profit (in ₹)?
13. 13.Aarav’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹190 (posters)
    Expense: ₹130 (stall fee)
    What is the profit (in ₹)?
14. 14.Which of these is income (money in)? (a) printing posters (b) cash from selling plants (c) paying the stall fee (d) bus fare to the market
15. 15.Kabir’s income was ₹140 and the profit was ₹20. One expense was ₹50 (stall fee). How much was the other expense, for ribbon (in ₹)?
16. 16.📒 Income or expense: buying paper cups? (a) income (b) expense
17. 17.Vihaan’s stall took in ₹240 on Friday, ₹50 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
18. 18.Dev’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹140 (sugar)
    Expense: ₹50 (ribbon)
    What is the profit (in ₹)?
19. 19.True or false: “tutoring fees received” is income (money in). (a) False (b) True
20. 20.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) the bill or receipt (d) only the bag
21. 21.Gurpreet’s record for the day:
    Income: ₹550 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹170 (lemons)
    Expense: ₹110 (ribbon)
    What is the profit (in ₹)?
22. 22.Joseph’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹100 (ribbon)
    Expense: ₹70 (card paper)
    How much is the loss (in ₹)?
23. 23.Lakshmi’s income was ₹190 and the profit was ₹100. One expense was ₹50 (stall fee). How much was the other expense, for card paper (in ₹)?
24. 24.📒 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
25. 25.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) paying the stall fee (d) a card order paid
26. 26.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) bus fare to the market (d) money from sales
27. 27.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) cash from selling plants (d) buying paper cups
28. 28.Rohan’s income was ₹470 and the profit was ₹240. One expense was ₹60 (card paper). How much was the other expense, for posters (in ₹)?
29. 29.Lakshmi’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹30 (lemons)
    Expense: ₹100 (sugar)
    What is the profit (in ₹)?
30. 30.📒 Income or expense: paying the stall fee? (a) expense (b) income
31. 31.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
32. 32.True or false: “money from sales” is an expense (money out). (a) True (b) False
33. 33.📒 Income or expense: tutoring fees received? (a) expense (b) income
34. 34.True or false: “a card order paid” is an expense (money out). (a) False (b) True
35. 35.Riya’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹60 (paper cups)
    Expense: ₹250 (posters)
    How much is the loss (in ₹)?
36. 36.📒 Income or expense: cash from selling plants? (a) expense (b) income
37. 37.Kavya’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹100 (stall fee)
    Expense: ₹60 (posters)
    How much is the loss (in ₹)?
38. 38.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
39. 39.Riya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹100 (ribbon)
    Expense: ₹110 (card paper)
    What is the profit (in ₹)?
40. 40.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) payment for a cake order (d) buying lemons

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