Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 804 · 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.Kavya’s stall took in ₹300 on Friday, ₹340 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
2. 2.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) nothing (d) only the bag
3. 3.📒 Income or expense: paying the stall fee? (a) income (b) expense
4. 4.Joseph’s record for the day:
   Income: ₹190 (morning sales)
   Income: ₹280 (evening sales)
   Expense: ₹170 (ribbon)
   Expense: ₹130 (card paper)
   What is the profit (in ₹)?
5. 5.Vihaan’s record for the day:
   Income: ₹130 (morning sales)
   Income: ₹80 (evening sales)
   Expense: ₹70 (transport)
   Expense: ₹30 (posters)
   What is the profit (in ₹)?
6. 6.Diya’s income was ₹430 and the profit was ₹370. One expense was ₹30 (paper cups). How much was the other expense, for card paper (in ₹)?
7. 7.Meera’s stall took in ₹290 on Friday, ₹390 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
8. 8.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) never (d) the same day
9. 9.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) printing posters (d) money from sales
10. 10.Diya’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹60 (posters)
    Expense: ₹40 (stall fee)
    What is the profit (in ₹)?
11. 11.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) money from sales (d) printing posters
12. 12.Farhan’s income was ₹320 and the profit was ₹190. One expense was ₹20 (transport). How much was the other expense, for posters (in ₹)?
13. 13.Kavya’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹130 (card paper)
    Expense: ₹200 (lemons)
    What is the profit (in ₹)?
14. 14.📒 Income or expense: buying lemons? (a) expense (b) income
15. 15.Rohan’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹250 (lemons)
    Expense: ₹100 (ribbon)
    How much is the loss (in ₹)?
16. 16.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
17. 17.Vihaan’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹130 (stall fee)
    Expense: ₹20 (ribbon)
    What is the profit (in ₹)?
18. 18.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) printing posters (d) tutoring fees received
19. 19.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) paying the stall fee (d) a card order paid
20. 20.Dev’s stall took in ₹50 on Friday, ₹300 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
21. 21.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) tutoring fees received (d) buying paper cups
22. 22.➖ Profit in your records = (a) expenses − income (b) just the income (c) income − expenses (d) income + expenses
23. 23.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
24. 24.Kavya’s stall took in ₹70 on Friday, ₹60 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
25. 25.Zoya’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹160 (card paper)
    Expense: ₹90 (stall fee)
    What is the profit (in ₹)?
26. 26.📒 Income or expense: cash from selling plants? (a) expense (b) income
27. 27.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) cash from selling plants (d) buying lemons
28. 28.Dev’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹20 (transport)
    Expense: ₹60 (posters)
    How much is the loss (in ₹)?
29. 29.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
30. 30.📒 Income or expense: a card order paid? (a) income (b) expense
31. 31.Which of these is an expense (money out)? (a) paying the stall fee (b) cash from selling plants (c) tutoring fees received (d) money from sales
32. 32.True or false: “printing posters” is income (money in). (a) True (b) False
33. 33.True or false: “buying paper cups” is income (money in). (a) True (b) False
34. 34.Diya’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹140 (paper cups)
    Expense: ₹110 (card paper)
    How much is the loss (in ₹)?
35. 35.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) buying lemons (d) payment for a cake order
36. 36.Diya’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹60 (sugar)
    Expense: ₹270 (stall fee)
    How much is the loss (in ₹)?
37. 37.Ananya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹50 (ribbon)
    Expense: ₹100 (transport)
    What is the profit (in ₹)?
38. 38.True or false: “paying the stall fee” is income (money in). (a) False (b) True
39. 39.📒 Income or expense: buying paper cups? (a) income (b) expense
40. 40.Kavya’s stall took in ₹140 on Friday, ₹210 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?

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