Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 973 · 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.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) a selfie (d) nothing
2. 2.Zoya’s stall took in ₹160 on Friday, ₹120 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
3. 3.➖ Profit in your records = (a) income − expenses (b) just the income (c) expenses − income (d) income + expenses
4. 4.True or false: “tutoring fees received” is income (money in). (a) False (b) True
5. 5.Riya’s stall took in ₹150 on Friday, ₹400 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
6. 6.Farhan’s stall took in ₹350 on Friday, ₹60 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
7. 7.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) paying the stall fee (d) payment for a cake order
8. 8.📒 Income or expense: bus fare to the market? (a) income (b) expense
9. 9.Zoya’s stall took in ₹120 on Friday, ₹130 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
10. 10.Ishaan’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹30 (stall fee)
    Expense: ₹110 (posters)
    What is the profit (in ₹)?
11. 11.Diya’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹150 (transport)
    Expense: ₹180 (card paper)
    What is the profit (in ₹)?
12. 12.📒 Income or expense: tutoring fees received? (a) expense (b) income
13. 13.Kabir’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹10 (paper cups)
    Expense: ₹90 (stall fee)
    How much is the loss (in ₹)?
14. 14.Arjun’s income was ₹410 and the profit was ₹30. One expense was ₹230 (transport). How much was the other expense, for paper cups (in ₹)?
15. 15.Ishaan’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹50 (sugar)
    Expense: ₹50 (stall fee)
    What is the profit (in ₹)?
16. 16.True or false: “payment for a cake order” is income (money in). (a) False (b) True
17. 17.Diya’s income was ₹430 and the profit was ₹220. One expense was ₹60 (card paper). How much was the other expense, for stall fee (in ₹)?
18. 18.📒 Income or expense: paying the stall fee? (a) income (b) expense
19. 19.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) tutoring fees received (d) bus fare to the market
20. 20.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to fill a notebook (d) to know the real profit
21. 21.Which of these is income (money in)? (a) buying lemons (b) payment for a cake order (c) buying paper cups (d) bus fare to the market
22. 22.Kavya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹90 (lemons)
    Expense: ₹190 (stall fee)
    What is the profit (in ₹)?
23. 23.📒 Income or expense: money from sales? (a) expense (b) income
24. 24.📅 When is the best time to update your records? (a) never (b) whenever you like (c) the same day (d) once a year
25. 25.📒 Income or expense: printing posters? (a) income (b) expense
26. 26.Farhan’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹250 (sugar)
    Expense: ₹10 (stall fee)
    How much is the loss (in ₹)?
27. 27.Meera’s stall took in ₹340 on Friday, ₹170 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
28. 28.Kavya’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹130 (transport)
    Expense: ₹160 (ribbon)
    How much is the loss (in ₹)?
29. 29.Saanvi’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹250 (stall fee)
    Expense: ₹10 (posters)
    How much is the loss (in ₹)?
30. 30.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
31. 31.True or false: “a card order paid” is an expense (money out). (a) False (b) True
32. 32.True or false: “buying lemons” is income (money in). (a) True (b) False
33. 33.Which of these is income (money in)? (a) a card order paid (b) paying the stall fee (c) buying lemons (d) printing posters
34. 34.True or false: “bus fare to the market” is income (money in). (a) True (b) False
35. 35.Rohan’s income was ₹170 and the profit was ₹10. One expense was ₹100 (card paper). How much was the other expense, for posters (in ₹)?
36. 36.Meera’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹70 (ribbon)
    Expense: ₹10 (lemons)
    How much is the loss (in ₹)?
37. 37.📒 Income or expense: payment for a cake order? (a) income (b) expense
38. 38.Dev’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹100 (posters)
    Expense: ₹110 (transport)
    What is the profit (in ₹)?
39. 39.Riya’s income was ₹340 and the profit was ₹110. One expense was ₹170 (paper cups). How much was the other expense, for card paper (in ₹)?
40. 40.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) a card order paid (d) printing posters

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