Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 983 · 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) never (b) whenever you like (c) the same day (d) once a year
2. 2.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) tutoring fees received (d) buying lemons
3. 3.Aarav’s stall took in ₹400 on Friday, ₹100 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
4. 4.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to know the real profit (d) to look busy
5. 5.Nisha’s record for a rainy day:
   Income: ₹90 (sales)
   Expense: ₹40 (posters)
   Expense: ₹110 (sugar)
   How much is the loss (in ₹)?
6. 6.Diya’s record for a rainy day:
   Income: ₹80 (sales)
   Expense: ₹120 (transport)
   Expense: ₹30 (lemons)
   How much is the loss (in ₹)?
7. 7.Ishaan’s record for the day:
   Income: ₹120 (morning sales)
   Income: ₹430 (evening sales)
   Expense: ₹200 (paper cups)
   Expense: ₹160 (card paper)
   What is the profit (in ₹)?
8. 8.Zoya’s record for the day:
   Income: ₹450 (morning sales)
   Income: ₹10 (evening sales)
   Expense: ₹170 (paper cups)
   Expense: ₹200 (card paper)
   What is the profit (in ₹)?
9. 9.True or false: “a card order paid” is an expense (money out). (a) False (b) True
10. 10.Vihaan’s income was ₹480 and the profit was ₹350. One expense was ₹40 (stall fee). How much was the other expense, for paper cups (in ₹)?
11. 11.📒 Income or expense: cash from selling plants? (a) expense (b) income
12. 12.📒 Income or expense: buying paper cups? (a) income (b) expense
13. 13.Riya’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹180 (stall fee)
    Expense: ₹20 (sugar)
    How much is the loss (in ₹)?
14. 14.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) only the bag (d) the bill or receipt
15. 15.True or false: “printing posters” is income (money in). (a) False (b) True
16. 16.📒 Income or expense: money from sales? (a) expense (b) income
17. 17.Joseph’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹90 (lemons)
    Expense: ₹130 (card paper)
    What is the profit (in ₹)?
18. 18.Kabir’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹60 (transport)
    Expense: ₹160 (posters)
    What is the profit (in ₹)?
19. 19.Tara’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹70 (paper cups)
    Expense: ₹70 (transport)
    How much is the loss (in ₹)?
20. 20.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) tutoring fees received (d) paying the stall fee
21. 21.Diya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹50 (posters)
    Expense: ₹80 (paper cups)
    What is the profit (in ₹)?
22. 22.Farhan’s income was ₹460 and the profit was ₹30. One expense was ₹250 (posters). How much was the other expense, for lemons (in ₹)?
23. 23.Ishaan’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹140 (stall fee)
    Expense: ₹160 (sugar)
    What is the profit (in ₹)?
24. 24.Zoya’s income was ₹400 and the profit was ₹300. One expense was ₹60 (card paper). How much was the other expense, for transport (in ₹)?
25. 25.Which of these is income (money in)? (a) printing posters (b) payment for a cake order (c) paying the stall fee (d) buying paper cups
26. 26.Joseph’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹110 (lemons)
    Expense: ₹120 (stall fee)
    What is the profit (in ₹)?
27. 27.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
28. 28.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
29. 29.📒 Income or expense: tutoring fees received? (a) expense (b) income
30. 30.Dev’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹190 (stall fee)
    Expense: ₹140 (sugar)
    What is the profit (in ₹)?
31. 31.Lakshmi’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹190 (lemons)
    Expense: ₹160 (posters)
    What is the profit (in ₹)?
32. 32.Arjun’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹80 (ribbon)
    Expense: ₹210 (transport)
    How much is the loss (in ₹)?
33. 33.Kavya’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹460 (evening sales)
    Expense: ₹170 (lemons)
    Expense: ₹150 (transport)
    What is the profit (in ₹)?
34. 34.📒 Income or expense: payment for a cake order? (a) income (b) expense
35. 35.Ishaan’s record for the day:
    Income: ₹390 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹130 (sugar)
    Expense: ₹130 (card paper)
    What is the profit (in ₹)?
36. 36.Which of these is income (money in)? (a) paying the stall fee (b) money from sales (c) printing posters (d) buying paper cups
37. 37.True or false: “a card order paid” is income (money in). (a) True (b) False
38. 38.Which of these is an expense (money out)? (a) buying paper cups (b) cash from selling plants (c) money from sales (d) tutoring fees received
39. 39.Kabir’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹140 (ribbon)
    Expense: ₹80 (transport)
    What is the profit (in ₹)?
40. 40.Which of these is an expense (money out)? (a) a card order paid (b) bus fare to the market (c) cash from selling plants (d) money from sales

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