Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 966 · 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.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
2. 2.Joseph’s stall took in ₹200 on Friday, ₹330 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
3. 3.Vihaan’s income was ₹390 and the profit was ₹220. One expense was ₹150 (sugar). How much was the other expense, for lemons (in ₹)?
4. 4.Which of these is income (money in)? (a) tutoring fees received (b) buying lemons (c) bus fare to the market (d) printing posters
5. 5.Joseph’s stall took in ₹130 on Friday, ₹50 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
6. 6.True or false: “tutoring fees received” is income (money in). (a) True (b) False
7. 7.True or false: “money from sales” is income (money in). (a) False (b) True
8. 8.📒 Income or expense: money from sales? (a) expense (b) income
9. 9.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) nothing (d) only the bag
10. 10.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) to look busy (d) no reason
11. 11.📒 Income or expense: buying lemons? (a) expense (b) income
12. 12.Ishaan’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹480 (evening sales)
    Expense: ₹140 (ribbon)
    Expense: ₹140 (sugar)
    What is the profit (in ₹)?
13. 13.True or false: “a card order paid” is an expense (money out). (a) True (b) False
14. 14.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
15. 15.Which of these is income (money in)? (a) buying paper cups (b) cash from selling plants (c) buying lemons (d) bus fare to the market
16. 16.📒 Income or expense: bus fare to the market? (a) income (b) expense
17. 17.Meera’s stall took in ₹90 on Friday, ₹230 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
18. 18.Ananya’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹130 (paper cups)
    Expense: ₹190 (ribbon)
    How much is the loss (in ₹)?
19. 19.True or false: “money from sales” is an expense (money out). (a) False (b) True
20. 20.True or false: “printing posters” is income (money in). (a) True (b) False
21. 21.Which of these is an expense (money out)? (a) paying the stall fee (b) payment for a cake order (c) tutoring fees received (d) cash from selling plants
22. 22.Saanvi’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹50 (stall fee)
    Expense: ₹120 (sugar)
    What is the profit (in ₹)?
23. 23.True or false: “paying the stall fee” is income (money in). (a) False (b) True
24. 24.Nisha’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹70 (ribbon)
    Expense: ₹100 (posters)
    What is the profit (in ₹)?
25. 25.Tara’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹190 (posters)
    Expense: ₹130 (transport)
    How much is the loss (in ₹)?
26. 26.Lakshmi’s income was ₹440 and the profit was ₹170. One expense was ₹160 (stall fee). How much was the other expense, for posters (in ₹)?
27. 27.Rohan’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹60 (sugar)
    Expense: ₹70 (posters)
    What is the profit (in ₹)?
28. 28.➖ Profit in your records = (a) income + expenses (b) just the income (c) expenses − income (d) income − expenses
29. 29.Kabir’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹180 (lemons)
    Expense: ₹40 (sugar)
    What is the profit (in ₹)?
30. 30.📒 Income or expense: printing posters? (a) expense (b) income
31. 31.Which of these is income (money in)? (a) buying lemons (b) a card order paid (c) paying the stall fee (d) printing posters
32. 32.Ishaan’s income was ₹450 and the profit was ₹390. One expense was ₹50 (paper cups). How much was the other expense, for ribbon (in ₹)?
33. 33.Vihaan’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹90 (paper cups)
    Expense: ₹160 (lemons)
    What is the profit (in ₹)?
34. 34.Riya’s stall took in ₹360 on Friday, ₹100 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
35. 35.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) money from sales (d) buying lemons
36. 36.Aarav’s stall took in ₹90 on Friday, ₹330 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
37. 37.Diya’s stall took in ₹180 on Friday, ₹250 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
38. 38.Farhan’s income was ₹210 and the profit was ₹130. One expense was ₹30 (card paper). How much was the other expense, for stall fee (in ₹)?
39. 39.Nisha’s stall took in ₹80 on Friday, ₹220 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
40. 40.Gurpreet’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹70 (stall fee)
    Expense: ₹40 (sugar)
    How much is the loss (in ₹)?

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