Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 997 · 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.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) nothing (d) a selfie
2. 2.Farhan’s income was ₹500 and the profit was ₹80. One expense was ₹20 (posters). How much was the other expense, for ribbon (in ₹)?
3. 3.📒 Income or expense: payment for a cake order? (a) expense (b) income
4. 4.Vihaan’s stall took in ₹140 on Friday, ₹90 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
5. 5.Kabir’s stall took in ₹170 on Friday, ₹370 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
6. 6.Diya’s stall took in ₹160 on Friday, ₹200 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
7. 7.Lakshmi’s record for the day:
   Income: ₹90 (morning sales)
   Income: ₹140 (evening sales)
   Expense: ₹150 (sugar)
   Expense: ₹60 (transport)
   What is the profit (in ₹)?
8. 8.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) never (d) once a year
9. 9.Farhan’s record for a rainy day:
   Income: ₹220 (sales)
   Expense: ₹130 (card paper)
   Expense: ₹170 (lemons)
   How much is the loss (in ₹)?
10. 10.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) buying lemons (d) payment for a cake order
11. 11.Joseph’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹210 (paper cups)
    Expense: ₹110 (posters)
    How much is the loss (in ₹)?
12. 12.Ishaan’s income was ₹430 and the profit was ₹110. One expense was ₹130 (stall fee). How much was the other expense, for paper cups (in ₹)?
13. 13.📒 Income or expense: tutoring fees received? (a) expense (b) income
14. 14.Tara’s income was ₹300 and the profit was ₹70. One expense was ₹10 (paper cups). How much was the other expense, for ribbon (in ₹)?
15. 15.Dev’s stall took in ₹330 on Friday, ₹110 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
16. 16.Joseph’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹90 (sugar)
    How much is the loss (in ₹)?
17. 17.Kabir’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹200 (card paper)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
18. 18.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) buying paper cups (d) cash from selling plants
19. 19.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) income + expenses (d) just the income
20. 20.📒 Income or expense: buying lemons? (a) expense (b) income
21. 21.Farhan’s income was ₹240 and the profit was ₹90. One expense was ₹20 (paper cups). How much was the other expense, for stall fee (in ₹)?
22. 22.Farhan’s income was ₹420 and the profit was ₹380. One expense was ₹10 (transport). How much was the other expense, for lemons (in ₹)?
23. 23.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to fill a notebook (d) to know the real profit
24. 24.Arjun’s income was ₹100 and the profit was ₹20. One expense was ₹30 (lemons). How much was the other expense, for transport (in ₹)?
25. 25.Zoya’s stall took in ₹220 on Friday, ₹50 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
26. 26.Aarav’s stall took in ₹170 on Friday, ₹100 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
27. 27.Saanvi’s stall took in ₹270 on Friday, ₹90 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
28. 28.📒 Income or expense: buying paper cups? (a) expense (b) income
29. 29.Riya’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹60 (card paper)
    Expense: ₹130 (sugar)
    How much is the loss (in ₹)?
30. 30.Diya’s income was ₹110 and the profit was ₹10. One expense was ₹30 (lemons). How much was the other expense, for stall fee (in ₹)?
31. 31.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) tutoring fees received (d) paying the stall fee
32. 32.Kabir’s stall took in ₹120 on Friday, ₹80 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
33. 33.True or false: “buying paper cups” is income (money in). (a) False (b) True
34. 34.Vihaan’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹120 (paper cups)
    Expense: ₹130 (lemons)
    What is the profit (in ₹)?
35. 35.Joseph’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹20 (card paper)
    Expense: ₹120 (posters)
    How much is the loss (in ₹)?
36. 36.True or false: “a card order paid” is an expense (money out). (a) True (b) False
37. 37.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
38. 38.📒 Income or expense: money from sales? (a) income (b) expense
39. 39.Nisha’s stall took in ₹150 on Friday, ₹60 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
40. 40.True or false: “printing posters” is income (money in). (a) True (b) False

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