Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 293 · 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.Ananya’s stall took in ₹230 on Friday, ₹370 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
2. 2.Nisha’s record for the day:
   Income: ₹110 (morning sales)
   Income: ₹270 (evening sales)
   Expense: ₹200 (transport)
   Expense: ₹160 (posters)
   What is the profit (in ₹)?
3. 3.📅 When is the best time to update your records? (a) once a year (b) the same day (c) never (d) whenever you like
4. 4.Ananya’s record for a rainy day:
   Income: ₹180 (sales)
   Expense: ₹20 (sugar)
   Expense: ₹170 (lemons)
   How much is the loss (in ₹)?
5. 5.📒 Income or expense: a card order paid? (a) income (b) expense
6. 6.Which of these is income (money in)? (a) buying paper cups (b) a card order paid (c) printing posters (d) paying the stall fee
7. 7.Which of these is an expense (money out)? (a) bus fare to the market (b) cash from selling plants (c) tutoring fees received (d) a card order paid
8. 8.📒 Income or expense: money from sales? (a) expense (b) income
9. 9.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) a selfie (d) the bill or receipt
10. 10.📒 Income or expense: printing posters? (a) income (b) expense
11. 11.Which of these is income (money in)? (a) money from sales (b) buying lemons (c) bus fare to the market (d) buying paper cups
12. 12.Tara’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹120 (lemons)
    Expense: ₹20 (posters)
    What is the profit (in ₹)?
13. 13.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) buying lemons (d) cash from selling plants
14. 14.Zoya’s stall took in ₹390 on Friday, ₹160 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
15. 15.📒 Income or expense: payment for a cake order? (a) income (b) expense
16. 16.True or false: “money from sales” is an expense (money out). (a) False (b) True
17. 17.📒 Income or expense: buying lemons? (a) expense (b) income
18. 18.Kabir’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹160 (card paper)
    Expense: ₹50 (sugar)
    What is the profit (in ₹)?
19. 19.Ishaan’s income was ₹440 and the profit was ₹360. One expense was ₹20 (ribbon). How much was the other expense, for lemons (in ₹)?
20. 20.Arjun’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹50 (stall fee)
    Expense: ₹110 (paper cups)
    How much is the loss (in ₹)?
21. 21.Which of these is income (money in)? (a) buying lemons (b) payment for a cake order (c) printing posters (d) buying paper cups
22. 22.📒 Income or expense: cash from selling plants? (a) expense (b) income
23. 23.Kabir’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹70 (card paper)
    Expense: ₹170 (posters)
    What is the profit (in ₹)?
24. 24.📒 Income or expense: paying the stall fee? (a) income (b) expense
25. 25.📒 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
26. 26.Which of these is an expense (money out)? (a) payment for a cake order (b) printing posters (c) money from sales (d) cash from selling plants
27. 27.True or false: “printing posters” is an expense (money out). (a) True (b) False
28. 28.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
29. 29.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) buying lemons (d) tutoring fees received
30. 30.Lakshmi’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹380 (evening sales)
    Expense: ₹160 (posters)
    Expense: ₹100 (transport)
    What is the profit (in ₹)?
31. 31.Tara’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹100 (paper cups)
    Expense: ₹30 (ribbon)
    What is the profit (in ₹)?
32. 32.📒 Income or expense: tutoring fees received? (a) income (b) expense
33. 33.Saanvi’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹190 (paper cups)
    Expense: ₹40 (posters)
    What is the profit (in ₹)?
34. 34.Ishaan’s stall took in ₹380 on Friday, ₹300 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
35. 35.Gurpreet’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹50 (transport)
    Expense: ₹70 (lemons)
    What is the profit (in ₹)?
36. 36.Gurpreet’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹80 (ribbon)
    Expense: ₹60 (sugar)
    How much is the loss (in ₹)?
37. 37.Ishaan’s stall took in ₹260 on Friday, ₹100 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
38. 38.Farhan’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹30 (stall fee)
    Expense: ₹160 (paper cups)
    How much is the loss (in ₹)?
39. 39.True or false: “payment for a cake order” is income (money in). (a) True (b) False
40. 40.True or false: “buying lemons” is income (money in). (a) False (b) True

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