Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 653 · 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.Ananya’s stall took in ₹240 on Friday, ₹280 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
2. 2.Saanvi’s income was ₹240 and the profit was ₹140. One expense was ₹50 (card paper). How much was the other expense, for lemons (in ₹)?
3. 3.📒 Income or expense: payment for a cake order? (a) income (b) expense
4. 4.Ananya’s income was ₹370 and the profit was ₹220. One expense was ₹110 (lemons). How much was the other expense, for transport (in ₹)?
5. 5.Which of these is an expense (money out)? (a) buying lemons (b) money from sales (c) a card order paid (d) tutoring fees received
6. 6.True or false: “a card order paid” is income (money in). (a) True (b) False
7. 7.Lakshmi’s income was ₹150 and the profit was ₹10. One expense was ₹20 (posters). How much was the other expense, for ribbon (in ₹)?
8. 8.Tara’s income was ₹220 and the profit was ₹80. One expense was ₹130 (stall fee). How much was the other expense, for posters (in ₹)?
9. 9.Zoya’s record for the day:
   Income: ₹80 (morning sales)
   Income: ₹250 (evening sales)
   Expense: ₹40 (ribbon)
   Expense: ₹50 (posters)
   What is the profit (in ₹)?
10. 10.Aarav’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹130 (stall fee)
    Expense: ₹220 (lemons)
    How much is the loss (in ₹)?
11. 11.📒 Income or expense: buying paper cups? (a) income (b) expense
12. 12.Lakshmi’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹10 (lemons)
    Expense: ₹230 (stall fee)
    How much is the loss (in ₹)?
13. 13.📒 Income or expense: cash from selling plants? (a) expense (b) income
14. 14.➖ Profit in your records = (a) income − expenses (b) just the income (c) income + expenses (d) expenses − income
15. 15.Saanvi’s stall took in ₹100 on Friday, ₹190 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
16. 16.Gurpreet’s stall took in ₹90 on Friday, ₹190 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
17. 17.Riya’s stall took in ₹360 on Friday, ₹80 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
18. 18.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) buying lemons (d) money from sales
19. 19.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) to know the real profit (d) no reason
20. 20.Diya’s stall took in ₹90 on Friday, ₹280 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
21. 21.Riya’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹30 (paper cups)
    Expense: ₹120 (transport)
    How much is the loss (in ₹)?
22. 22.Zoya’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹200 (paper cups)
    Expense: ₹30 (ribbon)
    What is the profit (in ₹)?
23. 23.📒 Income or expense: buying lemons? (a) expense (b) income
24. 24.📒 Income or expense: bus fare to the market? (a) expense (b) income
25. 25.Gurpreet’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹30 (paper cups)
    Expense: ₹250 (card paper)
    How much is the loss (in ₹)?
26. 26.True or false: “printing posters” is income (money in). (a) True (b) False
27. 27.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) the bill or receipt (d) only the bag
28. 28.Joseph’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹70 (lemons)
    Expense: ₹110 (card paper)
    How much is the loss (in ₹)?
29. 29.Kavya’s income was ₹250 and the profit was ₹110. One expense was ₹100 (stall fee). How much was the other expense, for ribbon (in ₹)?
30. 30.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) bus fare to the market (d) tutoring fees received
31. 31.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) payment for a cake order (d) buying paper cups
32. 32.📒 Income or expense: a card order paid? (a) expense (b) income
33. 33.Kabir’s stall took in ₹60 on Friday, ₹360 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
34. 34.Kabir’s record for the day:
    Income: ₹380 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹130 (posters)
    Expense: ₹140 (card paper)
    What is the profit (in ₹)?
35. 35.📅 When is the best time to update your records? (a) the same day (b) once a year (c) whenever you like (d) never
36. 36.Ananya’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹50 (ribbon)
    Expense: ₹190 (transport)
    What is the profit (in ₹)?
37. 37.Kavya’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹130 (sugar)
    Expense: ₹50 (paper cups)
    How much is the loss (in ₹)?
38. 38.Saanvi’s income was ₹370 and the profit was ₹340. One expense was ₹10 (lemons). How much was the other expense, for paper cups (in ₹)?
39. 39.Kabir’s income was ₹360 and the profit was ₹40. One expense was ₹70 (card paper). How much was the other expense, for paper cups (in ₹)?
40. 40.📒 Income or expense: tutoring fees received? (a) income (b) expense

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