Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 233 · 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) a selfie (c) nothing (d) the bill or receipt
2. 2.📒 Income or expense: bus fare to the market? (a) income (b) expense
3. 3.Saanvi’s record for the day:
   Income: ₹220 (morning sales)
   Income: ₹230 (evening sales)
   Expense: ₹190 (ribbon)
   Expense: ₹100 (card paper)
   What is the profit (in ₹)?
4. 4.Dev’s income was ₹260 and the profit was ₹80. One expense was ₹70 (ribbon). How much was the other expense, for posters (in ₹)?
5. 5.Aarav’s stall took in ₹80 on Friday, ₹330 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
6. 6.Kavya’s record for the day:
   Income: ₹250 (morning sales)
   Income: ₹70 (evening sales)
   Expense: ₹150 (stall fee)
   Expense: ₹80 (ribbon)
   What is the profit (in ₹)?
7. 7.Dev’s stall took in ₹210 on Friday, ₹320 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
8. 8.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) buying paper cups (d) tutoring fees received
9. 9.📒 Income or expense: payment for a cake order? (a) income (b) expense
10. 10.Diya’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹220 (posters)
    Expense: ₹60 (transport)
    How much is the loss (in ₹)?
11. 11.True or false: “a card order paid” is income (money in). (a) False (b) True
12. 12.Joseph’s stall took in ₹130 on Friday, ₹70 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
13. 13.Which of these is an expense (money out)? (a) buying lemons (b) payment for a cake order (c) cash from selling plants (d) money from sales
14. 14.📒 Income or expense: printing posters? (a) income (b) expense
15. 15.Riya’s stall took in ₹390 on Friday, ₹170 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
16. 16.Arjun’s income was ₹120 and the profit was ₹100. One expense was ₹10 (stall fee). How much was the other expense, for paper cups (in ₹)?
17. 17.Which of these is income (money in)? (a) money from sales (b) bus fare to the market (c) paying the stall fee (d) printing posters
18. 18.Ishaan’s income was ₹330 and the profit was ₹10. One expense was ₹90 (paper cups). How much was the other expense, for lemons (in ₹)?
19. 19.Rohan’s record for the day:
    Income: ₹350 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹120 (lemons)
    Expense: ₹200 (sugar)
    What is the profit (in ₹)?
20. 20.Rohan’s stall took in ₹380 on Friday, ₹140 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
21. 21.Riya’s income was ₹250 and the profit was ₹10. One expense was ₹230 (paper cups). How much was the other expense, for ribbon (in ₹)?
22. 22.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to know the real profit (d) to look busy
23. 23.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
24. 24.Aarav’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹40 (sugar)
    Expense: ₹90 (posters)
    How much is the loss (in ₹)?
25. 25.📒 Income or expense: buying lemons? (a) expense (b) income
26. 26.Which of these is income (money in)? (a) payment for a cake order (b) paying the stall fee (c) printing posters (d) bus fare to the market
27. 27.➖ Profit in your records = (a) expenses − income (b) just the income (c) income + expenses (d) income − expenses
28. 28.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
29. 29.Kabir’s stall took in ₹170 on Friday, ₹190 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
30. 30.📅 When is the best time to update your records? (a) whenever you like (b) never (c) the same day (d) once a year
31. 31.Joseph’s stall took in ₹150 on Friday, ₹330 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
32. 32.Farhan’s stall took in ₹320 on Friday, ₹250 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
33. 33.Saanvi’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹440 (evening sales)
    Expense: ₹190 (lemons)
    Expense: ₹50 (stall fee)
    What is the profit (in ₹)?
34. 34.True or false: “a card order paid” is an expense (money out). (a) True (b) False
35. 35.Nisha’s record for the day:
    Income: ₹350 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹100 (posters)
    Expense: ₹60 (paper cups)
    What is the profit (in ₹)?
36. 36.Nisha’s stall took in ₹110 on Friday, ₹80 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
37. 37.Kabir’s stall took in ₹140 on Friday, ₹230 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
38. 38.Riya’s income was ₹390 and the profit was ₹330. One expense was ₹40 (paper cups). How much was the other expense, for lemons (in ₹)?
39. 39.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) money from sales (d) paying the stall fee
40. 40.Arjun’s income was ₹250 and the profit was ₹60. One expense was ₹30 (ribbon). How much was the other expense, for sugar (in ₹)?

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