Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 325 · 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.Zoya’s record for a rainy day:
   Income: ₹230 (sales)
   Expense: ₹260 (lemons)
   Expense: ₹10 (card paper)
   How much is the loss (in ₹)?
2. 2.Which of these is income (money in)? (a) buying lemons (b) tutoring fees received (c) buying paper cups (d) paying the stall fee
3. 3.Farhan’s record for the day:
   Income: ₹110 (morning sales)
   Income: ₹390 (evening sales)
   Expense: ₹190 (card paper)
   Expense: ₹140 (posters)
   What is the profit (in ₹)?
4. 4.Rohan’s record for a rainy day:
   Income: ₹150 (sales)
   Expense: ₹150 (lemons)
   Expense: ₹20 (sugar)
   How much is the loss (in ₹)?
5. 5.Nisha’s stall took in ₹50 on Friday, ₹150 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
6. 6.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
7. 7.Nisha’s income was ₹150 and the profit was ₹40. One expense was ₹60 (posters). How much was the other expense, for ribbon (in ₹)?
8. 8.Dev’s income was ₹440 and the profit was ₹30. One expense was ₹10 (lemons). How much was the other expense, for ribbon (in ₹)?
9. 9.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) nothing (d) a selfie
10. 10.Riya’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹250 (stall fee)
    Expense: ₹10 (posters)
    How much is the loss (in ₹)?
11. 11.Farhan’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹200 (stall fee)
    Expense: ₹60 (paper cups)
    What is the profit (in ₹)?
12. 12.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) money from sales (d) bus fare to the market
13. 13.Arjun’s stall took in ₹230 on Friday, ₹110 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
14. 14.📒 Income or expense: bus fare to the market? (a) expense (b) income
15. 15.Kavya’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹110 (card paper)
    Expense: ₹180 (posters)
    What is the profit (in ₹)?
16. 16.📒 Income or expense: printing posters? (a) income (b) expense
17. 17.📅 When is the best time to update your records? (a) the same day (b) never (c) once a year (d) whenever you like
18. 18.True or false: “paying the stall fee” is income (money in). (a) False (b) True
19. 19.Riya’s stall took in ₹260 on Friday, ₹240 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
20. 20.📒 Income or expense: buying lemons? (a) expense (b) income
21. 21.📒 Income or expense: paying the stall fee? (a) income (b) expense
22. 22.True or false: “money from sales” is an expense (money out). (a) False (b) True
23. 23.Vihaan’s stall took in ₹200 on Friday, ₹90 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
24. 24.Joseph’s stall took in ₹190 on Friday, ₹170 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
25. 25.📒 Income or expense: payment for a cake order? (a) income (b) expense
26. 26.📒 Income or expense: a card order paid? (a) expense (b) income
27. 27.True or false: “printing posters” is income (money in). (a) True (b) False
28. 28.Meera’s income was ₹300 and the profit was ₹70. One expense was ₹190 (ribbon). How much was the other expense, for lemons (in ₹)?
29. 29.Diya’s income was ₹350 and the profit was ₹70. One expense was ₹230 (lemons). How much was the other expense, for posters (in ₹)?
30. 30.Ishaan’s income was ₹180 and the profit was ₹110. One expense was ₹10 (stall fee). How much was the other expense, for sugar (in ₹)?
31. 31.📒 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
32. 32.Meera’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹50 (card paper)
    Expense: ₹140 (lemons)
    How much is the loss (in ₹)?
33. 33.Rohan’s stall took in ₹100 on Friday, ₹320 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
34. 34.Kavya’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹140 (stall fee)
    Expense: ₹110 (transport)
    What is the profit (in ₹)?
35. 35.Vihaan’s stall took in ₹370 on Friday, ₹330 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
36. 36.Lakshmi’s stall took in ₹300 on Friday, ₹330 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
37. 37.Aarav’s stall took in ₹90 on Friday, ₹210 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
38. 38.Kabir’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹90 (lemons)
    Expense: ₹240 (posters)
    How much is the loss (in ₹)?
39. 39.Which of these is an expense (money out)? (a) cash from selling plants (b) paying the stall fee (c) tutoring fees received (d) a card order paid
40. 40.Saanvi’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹80 (card paper)
    Expense: ₹30 (lemons)
    How much is the loss (in ₹)?

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