Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 176 · 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.Kavya’s stall took in ₹290 on Friday, ₹330 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
2. 2.Diya’s stall took in ₹90 on Friday, ₹400 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
3. 3.Nisha’s record for a rainy day:
   Income: ₹250 (sales)
   Expense: ₹130 (card paper)
   Expense: ₹140 (transport)
   How much is the loss (in ₹)?
4. 4.True or false: “paying the stall fee” is income (money in). (a) True (b) False
5. 5.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) printing posters (d) a card order paid
6. 6.Gurpreet’s stall took in ₹340 on Friday, ₹80 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
7. 7.True or false: “money from sales” is income (money in). (a) False (b) True
8. 8.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
9. 9.True or false: “buying paper cups” is income (money in). (a) False (b) True
10. 10.True or false: “payment for a cake order” is income (money in). (a) False (b) True
11. 11.Arjun’s income was ₹250 and the profit was ₹70. One expense was ₹170 (lemons). How much was the other expense, for paper cups (in ₹)?
12. 12.Which of these is income (money in)? (a) money from sales (b) printing posters (c) paying the stall fee (d) buying paper cups
13. 13.Rohan’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹50 (ribbon)
    Expense: ₹70 (card paper)
    How much is the loss (in ₹)?
14. 14.📒 Income or expense: paying the stall fee? (a) expense (b) income
15. 15.📒 Income or expense: tutoring fees received? (a) expense (b) income
16. 16.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) to look busy (d) no reason
17. 17.📒 Income or expense: money from sales? (a) income (b) expense
18. 18.Gurpreet’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹50 (paper cups)
    Expense: ₹180 (stall fee)
    How much is the loss (in ₹)?
19. 19.Ananya’s stall took in ₹200 on Friday, ₹250 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
20. 20.Arjun’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹200 (stall fee)
    Expense: ₹50 (ribbon)
    What is the profit (in ₹)?
21. 21.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) paying the stall fee (d) cash from selling plants
22. 22.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) bus fare to the market (d) a card order paid
23. 23.True or false: “money from sales” is an expense (money out). (a) False (b) True
24. 24.True or false: “bus fare to the market” is income (money in). (a) True (b) False
25. 25.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
26. 26.Farhan’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹260 (sugar)
    Expense: ₹70 (paper cups)
    How much is the loss (in ₹)?
27. 27.Ananya’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹190 (transport)
    Expense: ₹80 (card paper)
    What is the profit (in ₹)?
28. 28.Tara’s stall took in ₹110 on Friday, ₹140 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
29. 29.Zoya’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹50 (card paper)
    Expense: ₹170 (posters)
    What is the profit (in ₹)?
30. 30.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) printing posters (d) payment for a cake order
31. 31.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) the bill or receipt (d) only the bag
32. 32.Diya’s income was ₹360 and the profit was ₹310. One expense was ₹20 (transport). How much was the other expense, for sugar (in ₹)?
33. 33.Ananya’s stall took in ₹60 on Friday, ₹110 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
34. 34.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) cash from selling plants (d) buying lemons
35. 35.📒 Income or expense: payment for a cake order? (a) expense (b) income
36. 36.📒 Income or expense: a card order paid? (a) income (b) expense
37. 37.➖ Profit in your records = (a) income + expenses (b) just the income (c) income − expenses (d) expenses − income
38. 38.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) tutoring fees received (d) buying paper cups
39. 39.Kabir’s stall took in ₹350 on Friday, ₹100 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
40. 40.Meera’s income was ₹100 and the profit was ₹10. One expense was ₹50 (card paper). How much was the other expense, for ribbon (in ₹)?

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