Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 958 · 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.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) no reason (d) to know the real profit
2. 2.Which of these is an expense (money out)? (a) a card order paid (b) paying the stall fee (c) tutoring fees received (d) money from sales
3. 3.📒 Income or expense: money from sales? (a) expense (b) income
4. 4.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) only the bag (d) nothing
5. 5.Rohan’s record for a rainy day:
   Income: ₹180 (sales)
   Expense: ₹10 (ribbon)
   Expense: ₹180 (paper cups)
   How much is the loss (in ₹)?
6. 6.True or false: “money from sales” is income (money in). (a) False (b) True
7. 7.Saanvi’s stall took in ₹120 on Friday, ₹170 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
8. 8.True or false: “bus fare to the market” is income (money in). (a) True (b) False
9. 9.📒 Income or expense: payment for a cake order? (a) expense (b) income
10. 10.Diya’s stall took in ₹360 on Friday, ₹130 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
11. 11.True or false: “a card order paid” is income (money in). (a) False (b) True
12. 12.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) never (d) the same day
13. 13.True or false: “money from sales” is an expense (money out). (a) True (b) False
14. 14.True or false: “cash from selling plants” is income (money in). (a) False (b) True
15. 15.➖ Profit in your records = (a) just the income (b) income + expenses (c) expenses − income (d) income − expenses
16. 16.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) buying lemons (d) tutoring fees received
17. 17.📒 Income or expense: tutoring fees received? (a) expense (b) income
18. 18.Rohan’s income was ₹110 and the profit was ₹90. One expense was ₹10 (paper cups). How much was the other expense, for transport (in ₹)?
19. 19.📒 Income or expense: printing posters? (a) income (b) expense
20. 20.📒 Income or expense: buying lemons? (a) expense (b) income
21. 21.Diya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹100 (stall fee)
    Expense: ₹60 (lemons)
    What is the profit (in ₹)?
22. 22.Diya’s stall took in ₹150 on Friday, ₹210 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
23. 23.Ishaan’s income was ₹380 and the profit was ₹40. One expense was ₹40 (card paper). How much was the other expense, for lemons (in ₹)?
24. 24.Which of these is an expense (money out)? (a) a card order paid (b) printing posters (c) money from sales (d) payment for a cake order
25. 25.Kavya’s stall took in ₹310 on Friday, ₹90 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
26. 26.Lakshmi’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹20 (lemons)
    Expense: ₹60 (card paper)
    What is the profit (in ₹)?
27. 27.Meera’s income was ₹420 and the profit was ₹360. One expense was ₹50 (stall fee). How much was the other expense, for posters (in ₹)?
28. 28.Arjun’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹150 (card paper)
    Expense: ₹10 (sugar)
    How much is the loss (in ₹)?
29. 29.Kavya’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹110 (paper cups)
    Expense: ₹130 (sugar)
    What is the profit (in ₹)?
30. 30.Arjun’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹120 (ribbon)
    Expense: ₹60 (lemons)
    What is the profit (in ₹)?
31. 31.Kavya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹50 (paper cups)
    Expense: ₹90 (lemons)
    What is the profit (in ₹)?
32. 32.Riya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹180 (posters)
    Expense: ₹40 (paper cups)
    What is the profit (in ₹)?
33. 33.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
34. 34.Gurpreet’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹60 (card paper)
    Expense: ₹240 (paper cups)
    How much is the loss (in ₹)?
35. 35.Which of these is an expense (money out)? (a) a card order paid (b) bus fare to the market (c) payment for a cake order (d) tutoring fees received
36. 36.Rohan’s income was ₹280 and the profit was ₹90. One expense was ₹70 (lemons). How much was the other expense, for card paper (in ₹)?
37. 37.Meera’s income was ₹130 and the profit was ₹50. One expense was ₹30 (posters). How much was the other expense, for lemons (in ₹)?
38. 38.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) paying the stall fee (d) money from sales
39. 39.Joseph’s income was ₹360 and the profit was ₹320. One expense was ₹10 (sugar). How much was the other expense, for posters (in ₹)?
40. 40.Saanvi’s stall took in ₹190 on Friday, ₹120 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?

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