Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 239 · 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.Rohan’s stall took in ₹130 on Friday, ₹280 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
2. 2.Diya’s record for a rainy day:
   Income: ₹160 (sales)
   Expense: ₹10 (posters)
   Expense: ₹240 (sugar)
   How much is the loss (in ₹)?
3. 3.📒 Income or expense: buying paper cups? (a) income (b) expense
4. 4.Which of these is income (money in)? (a) a card order paid (b) buying paper cups (c) paying the stall fee (d) buying lemons
5. 5.Zoya’s income was ₹250 and the profit was ₹220. One expense was ₹20 (stall fee). How much was the other expense, for transport (in ₹)?
6. 6.Dev’s record for a rainy day:
   Income: ₹280 (sales)
   Expense: ₹30 (ribbon)
   Expense: ₹330 (card paper)
   How much is the loss (in ₹)?
7. 7.Diya’s record for a rainy day:
   Income: ₹290 (sales)
   Expense: ₹160 (lemons)
   Expense: ₹140 (stall fee)
   How much is the loss (in ₹)?
8. 8.Zoya’s record for a rainy day:
   Income: ₹90 (sales)
   Expense: ₹30 (sugar)
   Expense: ₹90 (stall fee)
   How much is the loss (in ₹)?
9. 9.True or false: “paying the stall fee” is income (money in). (a) True (b) False
10. 10.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
11. 11.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) the same day (d) never
12. 12.Nisha’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹200 (stall fee)
    Expense: ₹100 (posters)
    How much is the loss (in ₹)?
13. 13.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) only the bag (d) a selfie
14. 14.Lakshmi’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹110 (transport)
    Expense: ₹40 (card paper)
    How much is the loss (in ₹)?
15. 15.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
16. 16.📒 Income or expense: tutoring fees received? (a) expense (b) income
17. 17.Arjun’s stall took in ₹370 on Friday, ₹250 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
18. 18.True or false: “buying lemons” is an expense (money out). (a) True (b) False
19. 19.Nisha’s record for the day:
    Income: ₹460 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹70 (posters)
    Expense: ₹140 (ribbon)
    What is the profit (in ₹)?
20. 20.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to fill a notebook (d) to know the real profit
21. 21.Farhan’s stall took in ₹70 on Friday, ₹140 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
22. 22.📒 Income or expense: a card order paid? (a) income (b) expense
23. 23.Kavya’s stall took in ₹70 on Friday, ₹190 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
24. 24.Which of these is an expense (money out)? (a) cash from selling plants (b) bus fare to the market (c) a card order paid (d) tutoring fees received
25. 25.Joseph’s stall took in ₹160 on Friday, ₹270 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
26. 26.Diya’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹240 (stall fee)
    Expense: ₹40 (lemons)
    How much is the loss (in ₹)?
27. 27.Kavya’s stall took in ₹190 on Friday, ₹160 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
28. 28.Which of these is an expense (money out)? (a) cash from selling plants (b) buying lemons (c) tutoring fees received (d) money from sales
29. 29.➖ Profit in your records = (a) expenses − income (b) just the income (c) income − expenses (d) income + expenses
30. 30.Nisha’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹90 (posters)
    Expense: ₹80 (paper cups)
    What is the profit (in ₹)?
31. 31.Farhan’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹70 (card paper)
    Expense: ₹100 (posters)
    What is the profit (in ₹)?
32. 32.Saanvi’s stall took in ₹170 on Friday, ₹120 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
33. 33.📒 Income or expense: buying lemons? (a) income (b) expense
34. 34.True or false: “buying lemons” is income (money in). (a) False (b) True
35. 35.Aarav’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹90 (card paper)
    Expense: ₹60 (posters)
    What is the profit (in ₹)?
36. 36.Which of these is income (money in)? (a) payment for a cake order (b) buying paper cups (c) bus fare to the market (d) printing posters
37. 37.True or false: “money from sales” is income (money in). (a) False (b) True
38. 38.Saanvi’s stall took in ₹310 on Friday, ₹250 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
39. 39.Zoya’s income was ₹420 and the profit was ₹100. One expense was ₹290 (card paper). How much was the other expense, for stall fee (in ₹)?
40. 40.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) cash from selling plants (d) paying the stall fee

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