Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 373 · 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.Riya’s stall took in ₹150 on Friday, ₹180 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
2. 2.Ananya’s record for a rainy day:
   Income: ₹70 (sales)
   Expense: ₹90 (transport)
   Expense: ₹30 (paper cups)
   How much is the loss (in ₹)?
3. 3.Kavya’s income was ₹170 and the profit was ₹80. One expense was ₹80 (ribbon). How much was the other expense, for transport (in ₹)?
4. 4.📒 Income or expense: cash from selling plants? (a) expense (b) income
5. 5.Kavya’s record for a rainy day:
   Income: ₹70 (sales)
   Expense: ₹120 (posters)
   Expense: ₹10 (ribbon)
   How much is the loss (in ₹)?
6. 6.Saanvi’s record for the day:
   Income: ₹70 (morning sales)
   Income: ₹410 (evening sales)
   Expense: ₹160 (transport)
   Expense: ₹60 (paper cups)
   What is the profit (in ₹)?
7. 7.Ananya’s record for the day:
   Income: ₹120 (morning sales)
   Income: ₹270 (evening sales)
   Expense: ₹200 (transport)
   Expense: ₹120 (paper cups)
   What is the profit (in ₹)?
8. 8.True or false: “a card order paid” is an expense (money out). (a) True (b) False
9. 9.📒 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
10. 10.📒 Income or expense: money from sales? (a) expense (b) income
11. 11.Which of these is income (money in)? (a) buying paper cups (b) tutoring fees received (c) paying the stall fee (d) buying lemons
12. 12.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) a selfie (d) nothing
13. 13.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
14. 14.Gurpreet’s stall took in ₹400 on Friday, ₹250 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
15. 15.True or false: “paying the stall fee” is income (money in). (a) False (b) True
16. 16.Vihaan’s record for the day:
    Income: ₹570 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹180 (ribbon)
    Expense: ₹170 (sugar)
    What is the profit (in ₹)?
17. 17.Ananya’s stall took in ₹200 on Friday, ₹210 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
18. 18.Ishaan’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹70 (ribbon)
    Expense: ₹40 (lemons)
    What is the profit (in ₹)?
19. 19.Which of these is income (money in)? (a) printing posters (b) payment for a cake order (c) paying the stall fee (d) buying paper cups
20. 20.Aarav’s income was ₹110 and the profit was ₹10. One expense was ₹20 (ribbon). How much was the other expense, for card paper (in ₹)?
21. 21.➖ Profit in your records = (a) income − expenses (b) just the income (c) expenses − income (d) income + expenses
22. 22.True or false: “buying paper cups” is income (money in). (a) True (b) False
23. 23.Tara’s stall took in ₹190 on Friday, ₹170 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
24. 24.True or false: “printing posters” is an expense (money out). (a) True (b) False
25. 25.Dev’s stall took in ₹390 on Friday, ₹220 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
26. 26.📒 Income or expense: bus fare to the market? (a) income (b) expense
27. 27.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) once a year (d) never
28. 28.📒 Income or expense: printing posters? (a) income (b) expense
29. 29.True or false: “bus fare to the market” is income (money in). (a) False (b) True
30. 30.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
31. 31.Lakshmi’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹130 (lemons)
    Expense: ₹30 (transport)
    How much is the loss (in ₹)?
32. 32.📒 Income or expense: payment for a cake order? (a) income (b) expense
33. 33.Rohan’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹140 (ribbon)
    Expense: ₹100 (posters)
    What is the profit (in ₹)?
34. 34.Zoya’s income was ₹310 and the profit was ₹50. One expense was ₹50 (sugar). How much was the other expense, for lemons (in ₹)?
35. 35.Diya’s stall took in ₹100 on Friday, ₹230 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
36. 36.Dev’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹30 (lemons)
    Expense: ₹360 (paper cups)
    How much is the loss (in ₹)?
37. 37.📒 Income or expense: a card order paid? (a) income (b) expense
38. 38.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
39. 39.True or false: “tutoring fees received” is income (money in). (a) False (b) True
40. 40.📒 Income or expense: buying lemons? (a) income (b) expense

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