Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 995 · 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) once a year (c) whenever you like (d) the same day
2. 2.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) buying lemons (d) money from sales
3. 3.Nisha’s record for a rainy day:
   Income: ₹290 (sales)
   Expense: ₹200 (card paper)
   Expense: ₹100 (paper cups)
   How much is the loss (in ₹)?
4. 4.Aarav’s record for the day:
   Income: ₹390 (morning sales)
   Income: ₹90 (evening sales)
   Expense: ₹80 (lemons)
   Expense: ₹150 (card paper)
   What is the profit (in ₹)?
5. 5.➖ Profit in your records = (a) just the income (b) income − expenses (c) income + expenses (d) expenses − income
6. 6.Joseph’s record for a rainy day:
   Income: ₹70 (sales)
   Expense: ₹20 (ribbon)
   Expense: ₹140 (card paper)
   How much is the loss (in ₹)?
7. 7.Diya’s stall took in ₹130 on Friday, ₹110 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
8. 8.📒 Income or expense: tutoring fees received? (a) income (b) expense
9. 9.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) no reason (d) to look busy
10. 10.Riya’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹40 (stall fee)
    Expense: ₹100 (posters)
    How much is the loss (in ₹)?
11. 11.Ishaan’s stall took in ₹310 on Friday, ₹130 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
12. 12.Zoya’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹50 (ribbon)
    Expense: ₹30 (sugar)
    What is the profit (in ₹)?
13. 13.True or false: “payment for a cake order” is income (money in). (a) True (b) False
14. 14.📒 Income or expense: money from sales? (a) income (b) expense
15. 15.Kabir’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹60 (stall fee)
    Expense: ₹50 (lemons)
    How much is the loss (in ₹)?
16. 16.Which of these is an expense (money out)? (a) cash from selling plants (b) paying the stall fee (c) money from sales (d) payment for a cake order
17. 17.Joseph’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹260 (sugar)
    Expense: ₹90 (lemons)
    How much is the loss (in ₹)?
18. 18.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) a card order paid (d) buying lemons
19. 19.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) a card order paid (d) buying paper cups
20. 20.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
21. 21.Nisha’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹170 (stall fee)
    Expense: ₹80 (ribbon)
    What is the profit (in ₹)?
22. 22.Ishaan’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹50 (transport)
    Expense: ₹70 (posters)
    How much is the loss (in ₹)?
23. 23.Diya’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹20 (ribbon)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
24. 24.Which of these is income (money in)? (a) a card order paid (b) bus fare to the market (c) printing posters (d) buying paper cups
25. 25.True or false: “paying the stall fee” is income (money in). (a) False (b) True
26. 26.Saanvi’s stall took in ₹180 on Friday, ₹330 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
27. 27.Ishaan’s stall took in ₹180 on Friday, ₹50 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
28. 28.True or false: “buying lemons” is an expense (money out). (a) False (b) True
29. 29.Arjun’s record for the day:
    Income: ₹460 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹190 (paper cups)
    Expense: ₹200 (posters)
    What is the profit (in ₹)?
30. 30.Diya’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹160 (lemons)
    Expense: ₹90 (posters)
    What is the profit (in ₹)?
31. 31.Saanvi’s stall took in ₹360 on Friday, ₹110 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
32. 32.Kavya’s stall took in ₹130 on Friday, ₹190 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
33. 33.Joseph’s stall took in ₹230 on Friday, ₹280 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
34. 34.True or false: “printing posters” is income (money in). (a) True (b) False
35. 35.Meera’s stall took in ₹170 on Friday, ₹120 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
36. 36.Joseph’s stall took in ₹170 on Friday, ₹300 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
37. 37.📒 Income or expense: printing posters? (a) expense (b) income
38. 38.Ananya’s income was ₹380 and the profit was ₹350. One expense was ₹20 (card paper). How much was the other expense, for paper cups (in ₹)?
39. 39.📒 Income or expense: buying paper cups? (a) expense (b) income
40. 40.Aarav’s stall took in ₹340 on Friday, ₹250 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?

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