Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 971 · 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 know the real profit (b) no reason (c) to fill a notebook (d) to look busy
2. 2.True or false: “printing posters” is income (money in). (a) True (b) False
3. 3.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
4. 4.Vihaan’s record for the day:
   Income: ₹150 (morning sales)
   Income: ₹180 (evening sales)
   Expense: ₹50 (transport)
   Expense: ₹90 (lemons)
   What is the profit (in ₹)?
5. 5.📒 Income or expense: money from sales? (a) income (b) expense
6. 6.Which of these is an expense (money out)? (a) buying lemons (b) cash from selling plants (c) money from sales (d) a card order paid
7. 7.Zoya’s income was ₹200 and the profit was ₹100. One expense was ₹80 (paper cups). How much was the other expense, for card paper (in ₹)?
8. 8.➖ Profit in your records = (a) just the income (b) income − expenses (c) income + expenses (d) expenses − income
9. 9.📒 Income or expense: printing posters? (a) expense (b) income
10. 10.Diya’s stall took in ₹200 on Friday, ₹100 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
11. 11.Farhan’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹20 (ribbon)
    Expense: ₹130 (transport)
    How much is the loss (in ₹)?
12. 12.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) a selfie (d) only the bag
13. 13.Saanvi’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹90 (sugar)
    Expense: ₹60 (paper cups)
    How much is the loss (in ₹)?
14. 14.Diya’s stall took in ₹340 on Friday, ₹350 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
15. 15.Saanvi’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹230 (card paper)
    Expense: ₹150 (ribbon)
    How much is the loss (in ₹)?
16. 16.Ishaan’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹40 (paper cups)
    Expense: ₹110 (ribbon)
    How much is the loss (in ₹)?
17. 17.Which of these is income (money in)? (a) buying lemons (b) tutoring fees received (c) buying paper cups (d) printing posters
18. 18.Aarav’s income was ₹330 and the profit was ₹220. One expense was ₹70 (paper cups). How much was the other expense, for lemons (in ₹)?
19. 19.Vihaan’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹30 (transport)
    Expense: ₹100 (sugar)
    What is the profit (in ₹)?
20. 20.📅 When is the best time to update your records? (a) the same day (b) never (c) once a year (d) whenever you like
21. 21.Which of these is income (money in)? (a) cash from selling plants (b) buying lemons (c) printing posters (d) paying the stall fee
22. 22.📒 Income or expense: cash from selling plants? (a) expense (b) income
23. 23.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) buying lemons (d) money from sales
24. 24.Meera’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹10 (posters)
    Expense: ₹230 (transport)
    How much is the loss (in ₹)?
25. 25.Aarav’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹170 (paper cups)
    Expense: ₹50 (posters)
    What is the profit (in ₹)?
26. 26.Diya’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹60 (posters)
    Expense: ₹220 (lemons)
    How much is the loss (in ₹)?
27. 27.Vihaan’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹200 (transport)
    Expense: ₹180 (lemons)
    What is the profit (in ₹)?
28. 28.Farhan’s income was ₹250 and the profit was ₹220. One expense was ₹10 (transport). How much was the other expense, for paper cups (in ₹)?
29. 29.Dev’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹40 (card paper)
    Expense: ₹280 (ribbon)
    How much is the loss (in ₹)?
30. 30.Ananya’s income was ₹240 and the profit was ₹40. One expense was ₹110 (card paper). How much was the other expense, for sugar (in ₹)?
31. 31.True or false: “bus fare to the market” is income (money in). (a) False (b) True
32. 32.Rohan’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹120 (lemons)
    Expense: ₹130 (stall fee)
    What is the profit (in ₹)?
33. 33.📒 Income or expense: payment for a cake order? (a) expense (b) income
34. 34.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
35. 35.Lakshmi’s income was ₹390 and the profit was ₹60. One expense was ₹40 (lemons). How much was the other expense, for transport (in ₹)?
36. 36.📒 Income or expense: buying paper cups? (a) expense (b) income
37. 37.Joseph’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹100 (paper cups)
    Expense: ₹50 (sugar)
    What is the profit (in ₹)?
38. 38.True or false: “paying the stall fee” is income (money in). (a) False (b) True
39. 39.True or false: “money from sales” is income (money in). (a) True (b) False
40. 40.Diya’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹110 (transport)
    Expense: ₹170 (paper cups)
    How much is the loss (in ₹)?

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