Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 926 · 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.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) only the bag (d) a selfie
2. 2.Which of these is income (money in)? (a) paying the stall fee (b) tutoring fees received (c) buying paper cups (d) bus fare to the market
3. 3.Dev’s record for the day:
   Income: ₹250 (morning sales)
   Income: ₹70 (evening sales)
   Expense: ₹140 (lemons)
   Expense: ₹110 (sugar)
   What is the profit (in ₹)?
4. 4.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) no reason (d) to know the real profit
5. 5.Which of these is income (money in)? (a) paying the stall fee (b) a card order paid (c) buying lemons (d) buying paper cups
6. 6.Farhan’s record for a rainy day:
   Income: ₹150 (sales)
   Expense: ₹90 (lemons)
   Expense: ₹130 (ribbon)
   How much is the loss (in ₹)?
7. 7.Diya’s stall took in ₹380 on Friday, ₹50 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
8. 8.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
9. 9.Riya’s record for a rainy day:
   Income: ₹110 (sales)
   Expense: ₹50 (posters)
   Expense: ₹150 (ribbon)
   How much is the loss (in ₹)?
10. 10.Which of these is an expense (money out)? (a) bus fare to the market (b) tutoring fees received (c) payment for a cake order (d) money from sales
11. 11.Nisha’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹440 (evening sales)
    Expense: ₹110 (ribbon)
    Expense: ₹160 (lemons)
    What is the profit (in ₹)?
12. 12.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) buying lemons (d) payment for a cake order
13. 13.True or false: “buying lemons” is income (money in). (a) False (b) True
14. 14.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) money from sales (d) buying lemons
15. 15.True or false: “buying paper cups” is income (money in). (a) False (b) True
16. 16.True or false: “tutoring fees received” is income (money in). (a) True (b) False
17. 17.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) buying paper cups (d) tutoring fees received
18. 18.📒 Income or expense: cash from selling plants? (a) expense (b) income
19. 19.Joseph’s income was ₹470 and the profit was ₹410. One expense was ₹40 (sugar). How much was the other expense, for card paper (in ₹)?
20. 20.Saanvi’s stall took in ₹370 on Friday, ₹360 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
21. 21.➖ Profit in your records = (a) income + expenses (b) just the income (c) income − expenses (d) expenses − income
22. 22.Tara’s income was ₹130 and the profit was ₹100. One expense was ₹20 (ribbon). How much was the other expense, for lemons (in ₹)?
23. 23.Meera’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹310 (paper cups)
    Expense: ₹20 (stall fee)
    How much is the loss (in ₹)?
24. 24.Riya’s stall took in ₹200 on Friday, ₹230 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
25. 25.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
26. 26.Rohan’s stall took in ₹90 on Friday, ₹270 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
27. 27.True or false: “cash from selling plants” is income (money in). (a) False (b) True
28. 28.Zoya’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹140 (ribbon)
    Expense: ₹40 (sugar)
    What is the profit (in ₹)?
29. 29.Rohan’s income was ₹130 and the profit was ₹10. One expense was ₹30 (sugar). How much was the other expense, for lemons (in ₹)?
30. 30.Rohan’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹280 (paper cups)
    Expense: ₹50 (lemons)
    How much is the loss (in ₹)?
31. 31.Tara’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹150 (transport)
    Expense: ₹150 (sugar)
    What is the profit (in ₹)?
32. 32.📒 Income or expense: buying paper cups? (a) expense (b) income
33. 33.Ananya’s record for the day:
    Income: ₹360 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹50 (paper cups)
    Expense: ₹140 (transport)
    What is the profit (in ₹)?
34. 34.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) never (d) the same day
35. 35.📒 Income or expense: money from sales? (a) income (b) expense
36. 36.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
37. 37.True or false: “payment for a cake order” is income (money in). (a) False (b) True
38. 38.Ananya’s income was ₹200 and the profit was ₹80. One expense was ₹110 (stall fee). How much was the other expense, for ribbon (in ₹)?
39. 39.Kabir’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹20 (ribbon)
    Expense: ₹160 (posters)
    What is the profit (in ₹)?
40. 40.Meera’s stall took in ₹200 on Friday, ₹160 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?

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