Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 927 · 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) a selfie (b) the bill or receipt (c) only the bag (d) nothing
2. 2.📒 Income or expense: payment for a cake order? (a) expense (b) income
3. 3.Vihaan’s income was ₹100 and the profit was ₹20. One expense was ₹20 (paper cups). How much was the other expense, for posters (in ₹)?
4. 4.Which of these is income (money in)? (a) paying the stall fee (b) tutoring fees received (c) buying lemons (d) buying paper cups
5. 5.Diya’s stall took in ₹400 on Friday, ₹120 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
6. 6.True or false: “a card order paid” is an expense (money out). (a) True (b) False
7. 7.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
8. 8.Nisha’s record for the day:
   Income: ₹100 (morning sales)
   Income: ₹200 (evening sales)
   Expense: ₹90 (lemons)
   Expense: ₹120 (transport)
   What is the profit (in ₹)?
9. 9.Lakshmi’s record for a rainy day:
   Income: ₹80 (sales)
   Expense: ₹170 (posters)
   Expense: ₹10 (lemons)
   How much is the loss (in ₹)?
10. 10.Dev’s stall took in ₹130 on Friday, ₹210 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
11. 11.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) money from sales (d) buying lemons
12. 12.Which of these is income (money in)? (a) cash from selling plants (b) paying the stall fee (c) buying paper cups (d) bus fare to the market
13. 13.Ananya’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹100 (card paper)
    Expense: ₹200 (ribbon)
    What is the profit (in ₹)?
14. 14.📒 Income or expense: a card order paid? (a) income (b) expense
15. 15.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to know the real profit (d) to fill a notebook
16. 16.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
17. 17.📅 When is the best time to update your records? (a) once a year (b) never (c) whenever you like (d) the same day
18. 18.True or false: “buying lemons” is income (money in). (a) True (b) False
19. 19.True or false: “buying paper cups” is income (money in). (a) False (b) True
20. 20.Kavya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹70 (lemons)
    Expense: ₹80 (stall fee)
    What is the profit (in ₹)?
21. 21.Rohan’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹60 (transport)
    Expense: ₹160 (ribbon)
    How much is the loss (in ₹)?
22. 22.Rohan’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹80 (posters)
    Expense: ₹70 (paper cups)
    What is the profit (in ₹)?
23. 23.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
24. 24.Aarav’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹180 (paper cups)
    Expense: ₹110 (lemons)
    What is the profit (in ₹)?
25. 25.Kavya’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹70 (stall fee)
    Expense: ₹160 (card paper)
    What is the profit (in ₹)?
26. 26.True or false: “printing posters” is an expense (money out). (a) True (b) False
27. 27.📒 Income or expense: tutoring fees received? (a) expense (b) income
28. 28.Kavya’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹10 (ribbon)
    Expense: ₹320 (paper cups)
    How much is the loss (in ₹)?
29. 29.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) a card order paid (d) paying the stall fee
30. 30.📒 Income or expense: printing posters? (a) expense (b) income
31. 31.Ishaan’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹110 (transport)
    Expense: ₹40 (posters)
    What is the profit (in ₹)?
32. 32.Which of these is income (money in)? (a) buying lemons (b) a card order paid (c) bus fare to the market (d) paying the stall fee
33. 33.Vihaan’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹120 (posters)
    Expense: ₹60 (sugar)
    How much is the loss (in ₹)?
34. 34.Meera’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹140 (card paper)
    Expense: ₹70 (transport)
    What is the profit (in ₹)?
35. 35.Which of these is an expense (money out)? (a) payment for a cake order (b) buying paper cups (c) cash from selling plants (d) a card order paid
36. 36.Rohan’s stall took in ₹300 on Friday, ₹130 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
37. 37.📒 Income or expense: buying paper cups? (a) expense (b) income
38. 38.Riya’s record for the day:
    Income: ₹460 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹190 (transport)
    What is the profit (in ₹)?
39. 39.Saanvi’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹30 (transport)
    Expense: ₹70 (lemons)
    What is the profit (in ₹)?
40. 40.📒 Income or expense: buying lemons? (a) expense (b) income

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