Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 979 · 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) whenever you like (b) never (c) the same day (d) once a year
2. 2.Rohan’s record for the day:
   Income: ₹100 (morning sales)
   Income: ₹310 (evening sales)
   Expense: ₹90 (lemons)
   Expense: ₹100 (posters)
   What is the profit (in ₹)?
3. 3.True or false: “money from sales” is income (money in). (a) False (b) True
4. 4.True or false: “a card order paid” is an expense (money out). (a) False (b) True
5. 5.📒 Income or expense: buying paper cups? (a) income (b) expense
6. 6.📒 Income or expense: printing posters? (a) income (b) expense
7. 7.True or false: “paying the stall fee” is income (money in). (a) True (b) False
8. 8.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) tutoring fees received (d) printing posters
9. 9.📒 Income or expense: buying lemons? (a) income (b) expense
10. 10.Ishaan’s income was ₹410 and the profit was ₹330. One expense was ₹30 (lemons). How much was the other expense, for paper cups (in ₹)?
11. 11.Dev’s income was ₹460 and the profit was ₹300. One expense was ₹20 (sugar). How much was the other expense, for stall fee (in ₹)?
12. 12.Which of these is income (money in)? (a) a card order paid (b) buying paper cups (c) paying the stall fee (d) bus fare to the market
13. 13.True or false: “buying paper cups” is income (money in). (a) True (b) False
14. 14.Riya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹40 (lemons)
    Expense: ₹30 (stall fee)
    What is the profit (in ₹)?
15. 15.Arjun’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹170 (stall fee)
    Expense: ₹100 (ribbon)
    How much is the loss (in ₹)?
16. 16.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) a selfie (d) the bill or receipt
17. 17.True or false: “cash from selling plants” is income (money in). (a) False (b) True
18. 18.Which of these is income (money in)? (a) buying paper cups (b) money from sales (c) bus fare to the market (d) printing posters
19. 19.Ishaan’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹40 (posters)
    Expense: ₹90 (sugar)
    What is the profit (in ₹)?
20. 20.Nisha’s stall took in ₹160 on Friday, ₹380 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
21. 21.Saanvi’s stall took in ₹50 on Friday, ₹370 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
22. 22.Meera’s stall took in ₹180 on Friday, ₹170 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
23. 23.Vihaan’s income was ₹410 and the profit was ₹360. One expense was ₹10 (lemons). How much was the other expense, for sugar (in ₹)?
24. 24.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
25. 25.True or false: “printing posters” is income (money in). (a) False (b) True
26. 26.Tara’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹60 (sugar)
    Expense: ₹60 (paper cups)
    What is the profit (in ₹)?
27. 27.Zoya’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹190 (transport)
    Expense: ₹170 (ribbon)
    What is the profit (in ₹)?
28. 28.Kavya’s record for the day:
    Income: ₹420 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹50 (stall fee)
    Expense: ₹120 (card paper)
    What is the profit (in ₹)?
29. 29.Meera’s income was ₹300 and the profit was ₹20. One expense was ₹40 (paper cups). How much was the other expense, for sugar (in ₹)?
30. 30.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
31. 31.Meera’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹170 (posters)
    Expense: ₹90 (stall fee)
    What is the profit (in ₹)?
32. 32.Riya’s income was ₹380 and the profit was ₹190. One expense was ₹100 (stall fee). How much was the other expense, for sugar (in ₹)?
33. 33.📒 Income or expense: tutoring fees received? (a) expense (b) income
34. 34.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) to fill a notebook (d) no reason
35. 35.Ananya’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹40 (transport)
    Expense: ₹160 (paper cups)
    What is the profit (in ₹)?
36. 36.Ananya’s record for the day:
    Income: ₹460 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹180 (posters)
    Expense: ₹180 (sugar)
    What is the profit (in ₹)?
37. 37.📒 Income or expense: money from sales? (a) income (b) expense
38. 38.Which of these is an expense (money out)? (a) payment for a cake order (b) buying paper cups (c) money from sales (d) tutoring fees received
39. 39.Rohan’s income was ₹320 and the profit was ₹270. One expense was ₹20 (card paper). How much was the other expense, for paper cups (in ₹)?
40. 40.Diya’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹50 (card paper)
    Expense: ₹110 (paper cups)
    What is the profit (in ₹)?

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