Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 974 · 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) a selfie (b) the bill or receipt (c) nothing (d) only the bag
2. 2.True or false: “money from sales” is income (money in). (a) False (b) True
3. 3.Joseph’s stall took in ₹160 on Friday, ₹210 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
4. 4.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
5. 5.➖ Profit in your records = (a) expenses − income (b) just the income (c) income + expenses (d) income − expenses
6. 6.📒 Income or expense: bus fare to the market? (a) expense (b) income
7. 7.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) paying the stall fee (d) tutoring fees received
8. 8.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) bus fare to the market (d) money from sales
9. 9.📒 Income or expense: buying lemons? (a) income (b) expense
10. 10.Diya’s stall took in ₹400 on Friday, ₹340 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
11. 11.📒 Income or expense: a card order paid? (a) expense (b) income
12. 12.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
13. 13.📒 Income or expense: printing posters? (a) expense (b) income
14. 14.Rohan’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹70 (paper cups)
    Expense: ₹140 (transport)
    What is the profit (in ₹)?
15. 15.Diya’s income was ₹340 and the profit was ₹10. One expense was ₹20 (stall fee). How much was the other expense, for lemons (in ₹)?
16. 16.Riya’s stall took in ₹180 on Friday, ₹260 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
17. 17.📒 Income or expense: cash from selling plants? (a) income (b) expense
18. 18.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to look busy (d) to fill a notebook
19. 19.Nisha’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹60 (card paper)
    Expense: ₹110 (transport)
    What is the profit (in ₹)?
20. 20.Gurpreet’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹20 (sugar)
    Expense: ₹280 (transport)
    How much is the loss (in ₹)?
21. 21.Tara’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹180 (stall fee)
    Expense: ₹80 (sugar)
    What is the profit (in ₹)?
22. 22.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
23. 23.Ishaan’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹180 (lemons)
    Expense: ₹180 (transport)
    How much is the loss (in ₹)?
24. 24.Lakshmi’s income was ₹110 and the profit was ₹50. One expense was ₹10 (transport). How much was the other expense, for stall fee (in ₹)?
25. 25.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) cash from selling plants (d) buying lemons
26. 26.Gurpreet’s stall took in ₹390 on Friday, ₹160 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
27. 27.Which of these is income (money in)? (a) a card order paid (b) paying the stall fee (c) buying paper cups (d) buying lemons
28. 28.True or false: “buying lemons” is income (money in). (a) True (b) False
29. 29.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) once a year (d) never
30. 30.Kabir’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹20 (posters)
    Expense: ₹30 (paper cups)
    What is the profit (in ₹)?
31. 31.True or false: “bus fare to the market” is income (money in). (a) False (b) True
32. 32.Kabir’s income was ₹320 and the profit was ₹290. One expense was ₹10 (ribbon). How much was the other expense, for transport (in ₹)?
33. 33.True or false: “tutoring fees received” is income (money in). (a) True (b) False
34. 34.Arjun’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹170 (ribbon)
    Expense: ₹120 (sugar)
    What is the profit (in ₹)?
35. 35.Lakshmi’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹130 (stall fee)
    Expense: ₹220 (paper cups)
    How much is the loss (in ₹)?
36. 36.Farhan’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹180 (card paper)
    Expense: ₹200 (stall fee)
    What is the profit (in ₹)?
37. 37.📒 Income or expense: buying paper cups? (a) income (b) expense
38. 38.Vihaan’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹30 (transport)
    Expense: ₹40 (ribbon)
    What is the profit (in ₹)?
39. 39.Meera’s income was ₹230 and the profit was ₹20. One expense was ₹110 (ribbon). How much was the other expense, for paper cups (in ₹)?
40. 40.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) buying paper cups (d) tutoring fees received

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