Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 987 · 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.Tara’s record for a rainy day:
   Income: ₹270 (sales)
   Expense: ₹140 (sugar)
   Expense: ₹140 (transport)
   How much is the loss (in ₹)?
3. 3.Kavya’s stall took in ₹240 on Friday, ₹350 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
4. 4.Ananya’s record for the day:
   Income: ₹100 (morning sales)
   Income: ₹320 (evening sales)
   Expense: ₹40 (card paper)
   Expense: ₹200 (paper cups)
   What is the profit (in ₹)?
5. 5.📒 Income or expense: money from sales? (a) expense (b) income
6. 6.📒 Income or expense: a card order paid? (a) income (b) expense
7. 7.Dev’s record for the day:
   Income: ₹170 (morning sales)
   Income: ₹30 (evening sales)
   Expense: ₹70 (sugar)
   Expense: ₹60 (lemons)
   What is the profit (in ₹)?
8. 8.Ishaan’s stall took in ₹200 on Friday, ₹290 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
9. 9.Ananya’s income was ₹470 and the profit was ₹300. One expense was ₹80 (ribbon). How much was the other expense, for paper cups (in ₹)?
10. 10.True or false: “a card order paid” is income (money in). (a) False (b) True
11. 11.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) paying the stall fee (d) a card order paid
12. 12.Ishaan’s income was ₹200 and the profit was ₹70. One expense was ₹120 (card paper). How much was the other expense, for paper cups (in ₹)?
13. 13.📒 Income or expense: tutoring fees received? (a) expense (b) income
14. 14.Vihaan’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹20 (paper cups)
    Expense: ₹40 (transport)
    What is the profit (in ₹)?
15. 15.Tara’s income was ₹190 and the profit was ₹110. One expense was ₹70 (lemons). How much was the other expense, for stall fee (in ₹)?
16. 16.📒 Income or expense: buying paper cups? (a) income (b) expense
17. 17.Nisha’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹110 (ribbon)
    Expense: ₹160 (paper cups)
    How much is the loss (in ₹)?
18. 18.True or false: “money from sales” is an expense (money out). (a) True (b) False
19. 19.Diya’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹130 (lemons)
    Expense: ₹20 (stall fee)
    What is the profit (in ₹)?
20. 20.Ishaan’s stall took in ₹290 on Friday, ₹110 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
21. 21.➖ Profit in your records = (a) income + expenses (b) just the income (c) expenses − income (d) income − expenses
22. 22.Diya’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹30 (paper cups)
    Expense: ₹20 (posters)
    What is the profit (in ₹)?
23. 23.Which of these is income (money in)? (a) payment for a cake order (b) paying the stall fee (c) buying paper cups (d) buying lemons
24. 24.Arjun’s stall took in ₹130 on Friday, ₹90 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
25. 25.Tara’s income was ₹180 and the profit was ₹130. One expense was ₹30 (sugar). How much was the other expense, for lemons (in ₹)?
26. 26.Zoya’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹140 (posters)
    Expense: ₹40 (paper cups)
    What is the profit (in ₹)?
27. 27.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) nothing (d) only the bag
28. 28.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
29. 29.True or false: “buying lemons” is an expense (money out). (a) True (b) False
30. 30.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
31. 31.Which of these is income (money in)? (a) money from sales (b) buying paper cups (c) printing posters (d) buying lemons
32. 32.Ishaan’s stall took in ₹200 on Friday, ₹350 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
33. 33.True or false: “paying the stall fee” is income (money in). (a) False (b) True
34. 34.True or false: “payment for a cake order” is income (money in). (a) True (b) False
35. 35.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
36. 36.True or false: “money from sales” is income (money in). (a) True (b) False
37. 37.Riya’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹90 (posters)
    Expense: ₹60 (transport)
    How much is the loss (in ₹)?
38. 38.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
39. 39.Kabir’s record for the day:
    Income: ₹470 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹130 (posters)
    Expense: ₹170 (card paper)
    What is the profit (in ₹)?
40. 40.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) tutoring fees received (d) buying lemons

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