Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 560 · 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 ₹250 on Friday, ₹390 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
2. 2.Riya’s record for a rainy day:
   Income: ₹270 (sales)
   Expense: ₹160 (paper cups)
   Expense: ₹130 (lemons)
   How much is the loss (in ₹)?
3. 3.📒 Income or expense: a card order paid? (a) expense (b) income
4. 4.Zoya’s record for a rainy day:
   Income: ₹50 (sales)
   Expense: ₹50 (posters)
   Expense: ₹20 (card paper)
   How much is the loss (in ₹)?
5. 5.📒 Income or expense: buying lemons? (a) income (b) expense
6. 6.Dev’s stall took in ₹160 on Friday, ₹230 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
7. 7.📒 Income or expense: paying the stall fee? (a) income (b) expense
8. 8.True or false: “printing posters” is an expense (money out). (a) False (b) True
9. 9.📅 When is the best time to update your records? (a) never (b) whenever you like (c) once a year (d) the same day
10. 10.Farhan’s stall took in ₹50 on Friday, ₹350 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
11. 11.📒 Income or expense: payment for a cake order? (a) expense (b) income
12. 12.Tara’s stall took in ₹100 on Friday, ₹110 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
13. 13.Zoya’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹190 (card paper)
    Expense: ₹50 (ribbon)
    How much is the loss (in ₹)?
14. 14.Saanvi’s stall took in ₹80 on Friday, ₹60 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
15. 15.Ananya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹50 (ribbon)
    Expense: ₹130 (lemons)
    What is the profit (in ₹)?
16. 16.Meera’s stall took in ₹220 on Friday, ₹110 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
17. 17.📒 Income or expense: tutoring fees received? (a) expense (b) income
18. 18.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
19. 19.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
20. 20.Kabir’s stall took in ₹170 on Friday, ₹250 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
21. 21.Tara’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹70 (stall fee)
    Expense: ₹220 (paper cups)
    How much is the loss (in ₹)?
22. 22.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) just the income (d) income − expenses
23. 23.True or false: “a card order paid” is an expense (money out). (a) True (b) False
24. 24.Tara’s stall took in ₹240 on Friday, ₹150 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
25. 25.Kavya’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹100 (card paper)
    Expense: ₹20 (lemons)
    What is the profit (in ₹)?
26. 26.📒 Income or expense: cash from selling plants? (a) expense (b) income
27. 27.True or false: “paying the stall fee” is income (money in). (a) False (b) True
28. 28.Nisha’s income was ₹320 and the profit was ₹240. One expense was ₹10 (sugar). How much was the other expense, for posters (in ₹)?
29. 29.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) paying the stall fee (d) tutoring fees received
30. 30.Tara’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹100 (lemons)
    Expense: ₹140 (posters)
    What is the profit (in ₹)?
31. 31.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) bus fare to the market (d) a card order paid
32. 32.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) to fill a notebook (d) no reason
33. 33.Zoya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹40 (transport)
    Expense: ₹50 (card paper)
    What is the profit (in ₹)?
34. 34.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
35. 35.Ishaan’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹130 (transport)
    Expense: ₹20 (lemons)
    What is the profit (in ₹)?
36. 36.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
37. 37.📒 Income or expense: money from sales? (a) income (b) expense
38. 38.True or false: “payment for a cake order” is income (money in). (a) False (b) True
39. 39.Which of these is an expense (money out)? (a) a card order paid (b) paying the stall fee (c) tutoring fees received (d) money from sales
40. 40.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False

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