Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 345 · 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.Farhan’s stall took in ₹100 on Friday, ₹380 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
2. 2.Nisha’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹310 (evening sales)
   Expense: ₹180 (paper cups)
   Expense: ₹50 (ribbon)
   What is the profit (in ₹)?
3. 3.📒 Income or expense: bus fare to the market? (a) expense (b) income
4. 4.True or false: “money from sales” is an expense (money out). (a) False (b) True
5. 5.Ananya’s income was ₹380 and the profit was ₹80. One expense was ₹120 (transport). How much was the other expense, for paper cups (in ₹)?
6. 6.Vihaan’s stall took in ₹150 on Friday, ₹230 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
7. 7.Ananya’s record for a rainy day:
   Income: ₹260 (sales)
   Expense: ₹300 (ribbon)
   Expense: ₹40 (transport)
   How much is the loss (in ₹)?
8. 8.📒 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
9. 9.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
10. 10.Gurpreet’s stall took in ₹110 on Friday, ₹210 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
11. 11.Saanvi’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹150 (lemons)
    Expense: ₹30 (stall fee)
    What is the profit (in ₹)?
12. 12.📅 When is the best time to update your records? (a) never (b) whenever you like (c) once a year (d) the same day
13. 13.Riya’s income was ₹270 and the profit was ₹40. One expense was ₹90 (transport). How much was the other expense, for ribbon (in ₹)?
14. 14.📒 Income or expense: payment for a cake order? (a) expense (b) income
15. 15.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) nothing (d) a selfie
16. 16.Lakshmi’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹110 (card paper)
    Expense: ₹30 (paper cups)
    What is the profit (in ₹)?
17. 17.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) expenses − income (d) just the income
18. 18.True or false: “buying lemons” is income (money in). (a) True (b) False
19. 19.Which of these is an expense (money out)? (a) a card order paid (b) buying paper cups (c) money from sales (d) cash from selling plants
20. 20.📒 Income or expense: a card order paid? (a) expense (b) income
21. 21.Nisha’s income was ₹190 and the profit was ₹130. One expense was ₹40 (sugar). How much was the other expense, for card paper (in ₹)?
22. 22.Saanvi’s stall took in ₹320 on Friday, ₹220 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
23. 23.Kabir’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹30 (lemons)
    Expense: ₹80 (paper cups)
    How much is the loss (in ₹)?
24. 24.Aarav’s income was ₹270 and the profit was ₹220. One expense was ₹10 (lemons). How much was the other expense, for sugar (in ₹)?
25. 25.📒 Income or expense: paying the stall fee? (a) expense (b) income
26. 26.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
27. 27.Aarav’s stall took in ₹320 on Friday, ₹350 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
28. 28.📒 Income or expense: tutoring fees received? (a) income (b) expense
29. 29.📒 Income or expense: buying paper cups? (a) income (b) expense
30. 30.Arjun’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹410 (evening sales)
    Expense: ₹160 (posters)
    Expense: ₹110 (transport)
    What is the profit (in ₹)?
31. 31.📒 Income or expense: printing posters? (a) expense (b) income
32. 32.📒 Income or expense: cash from selling plants? (a) income (b) expense
33. 33.Ishaan’s stall took in ₹350 on Friday, ₹260 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
34. 34.Kavya’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹80 (ribbon)
    Expense: ₹200 (lemons)
    What is the profit (in ₹)?
35. 35.Riya’s income was ₹390 and the profit was ₹130. One expense was ₹100 (paper cups). How much was the other expense, for stall fee (in ₹)?
36. 36.Nisha’s income was ₹180 and the profit was ₹150. One expense was ₹20 (sugar). How much was the other expense, for card paper (in ₹)?
37. 37.Riya’s stall took in ₹110 on Friday, ₹90 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
38. 38.Meera’s stall took in ₹60 on Friday, ₹300 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
39. 39.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
40. 40.True or false: “payment for a cake order” is income (money in). (a) True (b) False

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