Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 913 · 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.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) tutoring fees received (d) paying the stall fee
2. 2.➖ Profit in your records = (a) income + expenses (b) just the income (c) expenses − income (d) income − expenses
3. 3.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) the same day (d) never
4. 4.Ananya’s stall took in ₹280 on Friday, ₹100 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
5. 5.Ishaan’s record for the day:
   Income: ₹40 (morning sales)
   Income: ₹410 (evening sales)
   Expense: ₹150 (card paper)
   Expense: ₹130 (ribbon)
   What is the profit (in ₹)?
6. 6.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
7. 7.Which of these is income (money in)? (a) buying lemons (b) tutoring fees received (c) bus fare to the market (d) paying the stall fee
8. 8.Tara’s record for the day:
   Income: ₹50 (morning sales)
   Income: ₹170 (evening sales)
   Expense: ₹100 (stall fee)
   Expense: ₹80 (posters)
   What is the profit (in ₹)?
9. 9.True or false: “a card order paid” is an expense (money out). (a) True (b) False
10. 10.Gurpreet’s income was ₹340 and the profit was ₹190. One expense was ₹70 (transport). How much was the other expense, for paper cups (in ₹)?
11. 11.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) money from sales (d) buying lemons
12. 12.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) to fill a notebook (d) no reason
13. 13.Vihaan’s stall took in ₹50 on Friday, ₹230 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
14. 14.Kabir’s income was ₹160 and the profit was ₹130. One expense was ₹20 (ribbon). How much was the other expense, for sugar (in ₹)?
15. 15.📒 Income or expense: buying paper cups? (a) expense (b) income
16. 16.📒 Income or expense: cash from selling plants? (a) income (b) expense
17. 17.📒 Income or expense: money from sales? (a) income (b) expense
18. 18.Rohan’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹130 (stall fee)
    Expense: ₹20 (card paper)
    How much is the loss (in ₹)?
19. 19.Vihaan’s stall took in ₹290 on Friday, ₹290 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
20. 20.Kabir’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹80 (stall fee)
    Expense: ₹60 (sugar)
    How much is the loss (in ₹)?
21. 21.Zoya’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹80 (stall fee)
    Expense: ₹30 (paper cups)
    How much is the loss (in ₹)?
22. 22.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
23. 23.Aarav’s income was ₹320 and the profit was ₹200. One expense was ₹100 (sugar). How much was the other expense, for posters (in ₹)?
24. 24.Dev’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹160 (lemons)
    Expense: ₹70 (transport)
    How much is the loss (in ₹)?
25. 25.Meera’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹130 (paper cups)
    Expense: ₹110 (lemons)
    What is the profit (in ₹)?
26. 26.Gurpreet’s stall took in ₹50 on Friday, ₹160 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
27. 27.Ishaan’s stall took in ₹220 on Friday, ₹190 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
28. 28.📒 Income or expense: a card order paid? (a) expense (b) income
29. 29.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) the bill or receipt (d) a selfie
30. 30.Vihaan’s record for the day:
    Income: ₹370 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹110 (stall fee)
    Expense: ₹90 (posters)
    What is the profit (in ₹)?
31. 31.Arjun’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹180 (sugar)
    Expense: ₹200 (stall fee)
    What is the profit (in ₹)?
32. 32.Farhan’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹50 (card paper)
    Expense: ₹250 (paper cups)
    How much is the loss (in ₹)?
33. 33.Saanvi’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹40 (paper cups)
    Expense: ₹70 (stall fee)
    How much is the loss (in ₹)?
34. 34.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
35. 35.True or false: “tutoring fees received” is income (money in). (a) True (b) False
36. 36.Farhan’s stall took in ₹90 on Friday, ₹250 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
37. 37.Meera’s stall took in ₹380 on Friday, ₹350 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
38. 38.Gurpreet’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹260 (lemons)
    Expense: ₹10 (paper cups)
    How much is the loss (in ₹)?
39. 39.Which of these is income (money in)? (a) buying lemons (b) cash from selling plants (c) buying paper cups (d) bus fare to the market
40. 40.📒 Income or expense: paying the stall fee? (a) income (b) expense

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