Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 952 · 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.True or false: “money from sales” is income (money in). (a) False (b) True
2. 2.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to know the real profit (d) to look busy
3. 3.Aarav’s stall took in ₹290 on Friday, ₹220 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
4. 4.Rohan’s record for the day:
   Income: ₹60 (morning sales)
   Income: ₹380 (evening sales)
   Expense: ₹100 (lemons)
   Expense: ₹120 (ribbon)
   What is the profit (in ₹)?
5. 5.Riya’s income was ₹120 and the profit was ₹30. One expense was ₹70 (sugar). How much was the other expense, for stall fee (in ₹)?
6. 6.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) paying the stall fee (d) a card order paid
7. 7.Vihaan’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹450 (evening sales)
   Expense: ₹160 (posters)
   Expense: ₹90 (paper cups)
   What is the profit (in ₹)?
8. 8.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) a selfie (d) the bill or receipt
9. 9.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) income − expenses (d) just the income
10. 10.Lakshmi’s stall took in ₹320 on Friday, ₹400 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
11. 11.Ananya’s stall took in ₹380 on Friday, ₹320 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
12. 12.📒 Income or expense: bus fare to the market? (a) expense (b) income
13. 13.True or false: “printing posters” is income (money in). (a) True (b) False
14. 14.Diya’s stall took in ₹140 on Friday, ₹330 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
15. 15.Farhan’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹80 (sugar)
    Expense: ₹190 (lemons)
    How much is the loss (in ₹)?
16. 16.Saanvi’s income was ₹370 and the profit was ₹300. One expense was ₹10 (paper cups). How much was the other expense, for ribbon (in ₹)?
17. 17.Kabir’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹130 (paper cups)
    Expense: ₹30 (ribbon)
    What is the profit (in ₹)?
18. 18.True or false: “payment for a cake order” is income (money in). (a) False (b) True
19. 19.📒 Income or expense: payment for a cake order? (a) expense (b) income
20. 20.Diya’s stall took in ₹390 on Friday, ₹90 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
21. 21.Farhan’s income was ₹480 and the profit was ₹170. One expense was ₹60 (transport). How much was the other expense, for lemons (in ₹)?
22. 22.True or false: “a card order paid” is income (money in). (a) True (b) False
23. 23.📒 Income or expense: money from sales? (a) expense (b) income
24. 24.Tara’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹30 (ribbon)
    Expense: ₹110 (posters)
    What is the profit (in ₹)?
25. 25.Kavya’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹70 (card paper)
    Expense: ₹70 (ribbon)
    What is the profit (in ₹)?
26. 26.Joseph’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹80 (ribbon)
    Expense: ₹90 (paper cups)
    What is the profit (in ₹)?
27. 27.Which of these is an expense (money out)? (a) money from sales (b) bus fare to the market (c) cash from selling plants (d) a card order paid
28. 28.📒 Income or expense: tutoring fees received? (a) income (b) expense
29. 29.📒 Income or expense: a card order paid? (a) expense (b) income
30. 30.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) never (d) the same day
31. 31.📒 Income or expense: buying paper cups? (a) expense (b) income
32. 32.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) buying paper cups (d) payment for a cake order
33. 33.Tara’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹100 (card paper)
    Expense: ₹180 (paper cups)
    How much is the loss (in ₹)?
34. 34.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) bus fare to the market (d) money from sales
35. 35.Lakshmi’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹130 (stall fee)
    Expense: ₹50 (sugar)
    What is the profit (in ₹)?
36. 36.Which of these is income (money in)? (a) bus fare to the market (b) cash from selling plants (c) paying the stall fee (d) buying lemons
37. 37.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
38. 38.Meera’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹40 (sugar)
    Expense: ₹40 (lemons)
    What is the profit (in ₹)?
39. 39.Riya’s stall took in ₹110 on Friday, ₹50 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
40. 40.Meera’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹20 (stall fee)
    Expense: ₹120 (paper cups)
    How much is the loss (in ₹)?

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