Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 626 · 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.Vihaan’s stall took in ₹70 on Friday, ₹180 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
2. 2.📒 Income or expense: tutoring fees received? (a) income (b) expense
3. 3.Arjun’s record for a rainy day:
   Income: ₹200 (sales)
   Expense: ₹210 (card paper)
   Expense: ₹80 (paper cups)
   How much is the loss (in ₹)?
4. 4.Meera’s stall took in ₹220 on Friday, ₹280 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
5. 5.Kavya’s income was ₹210 and the profit was ₹170. One expense was ₹10 (ribbon). How much was the other expense, for stall fee (in ₹)?
6. 6.Which of these is an expense (money out)? (a) bus fare to the market (b) tutoring fees received (c) payment for a cake order (d) money from sales
7. 7.Tara’s record for a rainy day:
   Income: ₹70 (sales)
   Expense: ₹130 (transport)
   Expense: ₹20 (lemons)
   How much is the loss (in ₹)?
8. 8.Nisha’s income was ₹290 and the profit was ₹50. One expense was ₹130 (transport). How much was the other expense, for lemons (in ₹)?
9. 9.True or false: “buying paper cups” is income (money in). (a) True (b) False
10. 10.📅 When is the best time to update your records? (a) never (b) the same day (c) whenever you like (d) once a year
11. 11.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) nothing (d) the bill or receipt
12. 12.Dev’s income was ₹140 and the profit was ₹20. One expense was ₹50 (card paper). How much was the other expense, for sugar (in ₹)?
13. 13.Riya’s income was ₹470 and the profit was ₹450. One expense was ₹10 (transport). How much was the other expense, for stall fee (in ₹)?
14. 14.Gurpreet’s income was ₹360 and the profit was ₹330. One expense was ₹10 (lemons). How much was the other expense, for paper cups (in ₹)?
15. 15.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
16. 16.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to know the real profit (d) to look busy
17. 17.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) buying lemons (d) money from sales
18. 18.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) just the income (d) expenses − income
19. 19.Which of these is an expense (money out)? (a) tutoring fees received (b) buying paper cups (c) cash from selling plants (d) a card order paid
20. 20.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) paying the stall fee (d) tutoring fees received
21. 21.True or false: “printing posters” is an expense (money out). (a) False (b) True
22. 22.Saanvi’s stall took in ₹70 on Friday, ₹140 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
23. 23.Kavya’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹200 (ribbon)
    Expense: ₹20 (sugar)
    What is the profit (in ₹)?
24. 24.Zoya’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹90 (card paper)
    Expense: ₹60 (paper cups)
    What is the profit (in ₹)?
25. 25.Lakshmi’s income was ₹320 and the profit was ₹110. One expense was ₹40 (card paper). How much was the other expense, for sugar (in ₹)?
26. 26.Vihaan’s income was ₹460 and the profit was ₹410. One expense was ₹30 (sugar). How much was the other expense, for lemons (in ₹)?
27. 27.Riya’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹20 (paper cups)
    Expense: ₹90 (card paper)
    What is the profit (in ₹)?
28. 28.True or false: “paying the stall fee” is income (money in). (a) False (b) True
29. 29.Tara’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹50 (paper cups)
    Expense: ₹240 (transport)
    How much is the loss (in ₹)?
30. 30.Joseph’s income was ₹410 and the profit was ₹260. One expense was ₹70 (stall fee). How much was the other expense, for paper cups (in ₹)?
31. 31.True or false: “cash from selling plants” is income (money in). (a) True (b) False
32. 32.📒 Income or expense: payment for a cake order? (a) expense (b) income
33. 33.📒 Income or expense: a card order paid? (a) expense (b) income
34. 34.Joseph’s stall took in ₹230 on Friday, ₹190 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
35. 35.Tara’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹200 (stall fee)
    Expense: ₹40 (posters)
    What is the profit (in ₹)?
36. 36.Gurpreet’s stall took in ₹60 on Friday, ₹70 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
37. 37.Which of these is income (money in)? (a) bus fare to the market (b) a card order paid (c) buying paper cups (d) paying the stall fee
38. 38.Ananya’s stall took in ₹130 on Friday, ₹70 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
39. 39.Rohan’s stall took in ₹320 on Friday, ₹350 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
40. 40.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True

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