Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 372 · 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.Lakshmi’s record for a rainy day:
   Income: ₹290 (sales)
   Expense: ₹90 (card paper)
   Expense: ₹250 (stall fee)
   How much is the loss (in ₹)?
2. 2.Lakshmi’s stall took in ₹80 on Friday, ₹240 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
3. 3.Farhan’s income was ₹160 and the profit was ₹120. One expense was ₹20 (paper cups). How much was the other expense, for ribbon (in ₹)?
4. 4.Which of these is an expense (money out)? (a) money from sales (b) buying paper cups (c) cash from selling plants (d) payment for a cake order
5. 5.True or false: “cash from selling plants” is income (money in). (a) False (b) True
6. 6.True or false: “paying the stall fee” is income (money in). (a) False (b) True
7. 7.Diya’s stall took in ₹250 on Friday, ₹210 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
8. 8.Diya’s stall took in ₹130 on Friday, ₹320 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
9. 9.Gurpreet’s record for a rainy day:
   Income: ₹70 (sales)
   Expense: ₹40 (stall fee)
   Expense: ₹110 (card paper)
   How much is the loss (in ₹)?
10. 10.True or false: “printing posters” is an expense (money out). (a) True (b) False
11. 11.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) money from sales (d) buying paper cups
12. 12.Kavya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹30 (paper cups)
    Expense: ₹120 (stall fee)
    What is the profit (in ₹)?
13. 13.Zoya’s stall took in ₹100 on Friday, ₹350 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
14. 14.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) cash from selling plants (d) bus fare to the market
15. 15.Riya’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹20 (sugar)
    Expense: ₹120 (lemons)
    What is the profit (in ₹)?
16. 16.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) bus fare to the market (d) tutoring fees received
17. 17.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) no reason (d) to know the real profit
18. 18.Vihaan’s stall took in ₹120 on Friday, ₹60 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
19. 19.📒 Income or expense: paying the stall fee? (a) income (b) expense
20. 20.Farhan’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹120 (card paper)
    How much is the loss (in ₹)?
21. 21.True or false: “money from sales” is an expense (money out). (a) False (b) True
22. 22.Kabir’s stall took in ₹160 on Friday, ₹400 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
23. 23.Aarav’s income was ₹100 and the profit was ₹60. One expense was ₹30 (card paper). How much was the other expense, for ribbon (in ₹)?
24. 24.Aarav’s stall took in ₹100 on Friday, ₹100 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
25. 25.📒 Income or expense: payment for a cake order? (a) expense (b) income
26. 26.📒 Income or expense: a card order paid? (a) income (b) expense
27. 27.Which of these is income (money in)? (a) a card order paid (b) buying lemons (c) paying the stall fee (d) buying paper cups
28. 28.Dev’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹50 (ribbon)
    Expense: ₹100 (sugar)
    What is the profit (in ₹)?
29. 29.Lakshmi’s stall took in ₹140 on Friday, ₹240 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
30. 30.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) the same day (d) never
31. 31.Saanvi’s income was ₹210 and the profit was ₹30. One expense was ₹140 (lemons). How much was the other expense, for posters (in ₹)?
32. 32.Gurpreet’s stall took in ₹140 on Friday, ₹190 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
33. 33.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) buying lemons (d) tutoring fees received
34. 34.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) nothing (d) a selfie
35. 35.Ananya’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹10 (card paper)
    Expense: ₹200 (stall fee)
    How much is the loss (in ₹)?
36. 36.📒 Income or expense: bus fare to the market? (a) expense (b) income
37. 37.Which of these is an expense (money out)? (a) money from sales (b) printing posters (c) tutoring fees received (d) cash from selling plants
38. 38.📒 Income or expense: printing posters? (a) income (b) expense
39. 39.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
40. 40.True or false: “bus fare to the market” is income (money in). (a) True (b) False

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