Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 985 · 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) to look busy (c) to fill a notebook (d) no reason
2. 2.Kavya’s stall took in ₹250 on Friday, ₹130 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
3. 3.Nisha’s record for a rainy day:
   Income: ₹140 (sales)
   Expense: ₹10 (card paper)
   Expense: ₹180 (transport)
   How much is the loss (in ₹)?
4. 4.True or false: “buying lemons” is income (money in). (a) True (b) False
5. 5.Gurpreet’s record for a rainy day:
   Income: ₹280 (sales)
   Expense: ₹40 (paper cups)
   Expense: ₹260 (lemons)
   How much is the loss (in ₹)?
6. 6.Tara’s record for a rainy day:
   Income: ₹50 (sales)
   Expense: ₹20 (transport)
   Expense: ₹60 (posters)
   How much is the loss (in ₹)?
7. 7.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
8. 8.📒 Income or expense: cash from selling plants? (a) expense (b) income
9. 9.Which of these is an expense (money out)? (a) payment for a cake order (b) buying lemons (c) cash from selling plants (d) a card order paid
10. 10.True or false: “buying paper cups” is income (money in). (a) True (b) False
11. 11.Saanvi’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹80 (posters)
    Expense: ₹110 (stall fee)
    How much is the loss (in ₹)?
12. 12.Meera’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹70 (lemons)
    Expense: ₹130 (ribbon)
    What is the profit (in ₹)?
13. 13.📒 Income or expense: money from sales? (a) income (b) expense
14. 14.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) nothing (d) a selfie
15. 15.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
16. 16.Tara’s income was ₹390 and the profit was ₹130. One expense was ₹20 (transport). How much was the other expense, for ribbon (in ₹)?
17. 17.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) printing posters (d) tutoring fees received
18. 18.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
19. 19.True or false: “a card order paid” is an expense (money out). (a) False (b) True
20. 20.Dev’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹80 (ribbon)
    Expense: ₹70 (lemons)
    What is the profit (in ₹)?
21. 21.Aarav’s income was ₹100 and the profit was ₹30. One expense was ₹20 (card paper). How much was the other expense, for sugar (in ₹)?
22. 22.True or false: “a card order paid” is income (money in). (a) True (b) False
23. 23.Which of these is income (money in)? (a) buying paper cups (b) a card order paid (c) printing posters (d) bus fare to the market
24. 24.Which of these is an expense (money out)? (a) tutoring fees received (b) bus fare to the market (c) payment for a cake order (d) money from sales
25. 25.Nisha’s income was ₹420 and the profit was ₹390. One expense was ₹10 (paper cups). How much was the other expense, for posters (in ₹)?
26. 26.Which of these is an expense (money out)? (a) buying paper cups (b) a card order paid (c) tutoring fees received (d) cash from selling plants
27. 27.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
28. 28.Rohan’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹100 (card paper)
    Expense: ₹150 (transport)
    What is the profit (in ₹)?
29. 29.Ananya’s income was ₹270 and the profit was ₹230. One expense was ₹10 (transport). How much was the other expense, for lemons (in ₹)?
30. 30.Zoya’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹90 (card paper)
    Expense: ₹60 (posters)
    How much is the loss (in ₹)?
31. 31.Dev’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹160 (ribbon)
    Expense: ₹120 (lemons)
    What is the profit (in ₹)?
32. 32.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) the same day (d) never
33. 33.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
34. 34.📒 Income or expense: payment for a cake order? (a) expense (b) income
35. 35.📒 Income or expense: paying the stall fee? (a) expense (b) income
36. 36.Riya’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹50 (paper cups)
    Expense: ₹120 (lemons)
    What is the profit (in ₹)?
37. 37.Which of these is an expense (money out)? (a) tutoring fees received (b) printing posters (c) cash from selling plants (d) money from sales
38. 38.Rohan’s income was ₹290 and the profit was ₹260. One expense was ₹10 (paper cups). How much was the other expense, for stall fee (in ₹)?
39. 39.Arjun’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹50 (sugar)
    Expense: ₹50 (lemons)
    What is the profit (in ₹)?
40. 40.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) buying lemons (d) money from sales

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