Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 970 · 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.📒 Income or expense: bus fare to the market? (a) income (b) expense
2. 2.📒 Income or expense: money from sales? (a) expense (b) income
3. 3.Lakshmi’s record for the day:
   Income: ₹160 (morning sales)
   Income: ₹210 (evening sales)
   Expense: ₹130 (posters)
   Expense: ₹140 (stall fee)
   What is the profit (in ₹)?
4. 4.📒 Income or expense: a card order paid? (a) income (b) expense
5. 5.Joseph’s income was ₹130 and the profit was ₹70. One expense was ₹40 (ribbon). How much was the other expense, for sugar (in ₹)?
6. 6.Meera’s record for a rainy day:
   Income: ₹140 (sales)
   Expense: ₹170 (lemons)
   Expense: ₹20 (posters)
   How much is the loss (in ₹)?
7. 7.Farhan’s stall took in ₹350 on Friday, ₹350 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
8. 8.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) to know the real profit (d) no reason
9. 9.Dev’s stall took in ₹80 on Friday, ₹290 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
10. 10.True or false: “paying the stall fee” is income (money in). (a) True (b) False
11. 11.Tara’s stall took in ₹380 on Friday, ₹280 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
12. 12.➖ Profit in your records = (a) income − expenses (b) just the income (c) income + expenses (d) expenses − income
13. 13.Dev’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹200 (paper cups)
    Expense: ₹120 (stall fee)
    What is the profit (in ₹)?
14. 14.Rohan’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹90 (card paper)
    Expense: ₹100 (lemons)
    What is the profit (in ₹)?
15. 15.📒 Income or expense: buying lemons? (a) income (b) expense
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) paying the stall fee (b) tutoring fees received (c) money from sales (d) a card order paid
18. 18.Gurpreet’s stall took in ₹200 on Friday, ₹140 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
19. 19.📒 Income or expense: buying paper cups? (a) expense (b) income
20. 20.Dev’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹60 (paper cups)
    Expense: ₹60 (stall fee)
    How much is the loss (in ₹)?
21. 21.Which of these is income (money in)? (a) paying the stall fee (b) a card order paid (c) bus fare to the market (d) buying lemons
22. 22.Which of these is income (money in)? (a) buying lemons (b) money from sales (c) paying the stall fee (d) bus fare to the market
23. 23.Dev’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹280 (stall fee)
    Expense: ₹40 (ribbon)
    How much is the loss (in ₹)?
24. 24.Which of these is an expense (money out)? (a) buying paper cups (b) payment for a cake order (c) cash from selling plants (d) money from sales
25. 25.Kabir’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹160 (sugar)
    Expense: ₹50 (ribbon)
    What is the profit (in ₹)?
26. 26.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
27. 27.📒 Income or expense: paying the stall fee? (a) expense (b) income
28. 28.Kabir’s stall took in ₹100 on Friday, ₹120 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
29. 29.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) only the bag (d) the bill or receipt
30. 30.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) payment for a cake order (d) bus fare to the market
31. 31.Vihaan’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹80 (lemons)
    Expense: ₹90 (stall fee)
    What is the profit (in ₹)?
32. 32.True or false: “a card order paid” is an expense (money out). (a) True (b) False
33. 33.Diya’s stall took in ₹90 on Friday, ₹70 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
34. 34.Aarav’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹50 (posters)
    Expense: ₹120 (transport)
    What is the profit (in ₹)?
35. 35.True or false: “bus fare to the market” is income (money in). (a) True (b) False
36. 36.📒 Income or expense: printing posters? (a) expense (b) income
37. 37.Ishaan’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹190 (transport)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?
38. 38.📒 Income or expense: tutoring fees received? (a) income (b) expense
39. 39.📅 When is the best time to update your records? (a) whenever you like (b) never (c) the same day (d) once a year
40. 40.Rohan’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹110 (paper cups)
    Expense: ₹90 (posters)
    What is the profit (in ₹)?

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