Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 844 · 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.Zoya’s stall took in ₹170 on Friday, ₹290 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
2. 2.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) only the bag (d) a selfie
3. 3.Joseph’s record for a rainy day:
   Income: ₹50 (sales)
   Expense: ₹100 (ribbon)
   Expense: ₹30 (paper cups)
   How much is the loss (in ₹)?
4. 4.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) to know the real profit (d) no reason
5. 5.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) never (d) the same day
6. 6.📒 Income or expense: cash from selling plants? (a) income (b) expense
7. 7.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
8. 8.True or false: “buying paper cups” is income (money in). (a) True (b) False
9. 9.Diya’s stall took in ₹360 on Friday, ₹340 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
10. 10.Kabir’s stall took in ₹350 on Friday, ₹110 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
11. 11.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) money from sales (d) buying lemons
12. 12.Which of these is income (money in)? (a) cash from selling plants (b) printing posters (c) bus fare to the market (d) buying paper cups
13. 13.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) income − expenses (d) just the income
14. 14.True or false: “a card order paid” is an expense (money out). (a) False (b) True
15. 15.Tara’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹60 (ribbon)
    Expense: ₹50 (card paper)
    What is the profit (in ₹)?
16. 16.📒 Income or expense: bus fare to the market? (a) expense (b) income
17. 17.Zoya’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹20 (ribbon)
    Expense: ₹40 (transport)
    How much is the loss (in ₹)?
18. 18.True or false: “printing posters” is income (money in). (a) False (b) True
19. 19.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) cash from selling plants (d) buying paper cups
20. 20.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
21. 21.Rohan’s stall took in ₹210 on Friday, ₹160 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
22. 22.Kabir’s stall took in ₹200 on Friday, ₹60 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
23. 23.True or false: “money from sales” is income (money in). (a) False (b) True
24. 24.Gurpreet’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹150 (sugar)
    Expense: ₹210 (lemons)
    How much is the loss (in ₹)?
25. 25.Which of these is income (money in)? (a) payment for a cake order (b) buying lemons (c) paying the stall fee (d) bus fare to the market
26. 26.Kavya’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹20 (ribbon)
    Expense: ₹60 (transport)
    What is the profit (in ₹)?
27. 27.📒 Income or expense: buying lemons? (a) expense (b) income
28. 28.📒 Income or expense: money from sales? (a) expense (b) income
29. 29.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
30. 30.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
31. 31.Kavya’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹10 (stall fee)
    Expense: ₹80 (card paper)
    How much is the loss (in ₹)?
32. 32.Meera’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹20 (stall fee)
    Expense: ₹100 (posters)
    What is the profit (in ₹)?
33. 33.Lakshmi’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹10 (ribbon)
    Expense: ₹130 (card paper)
    How much is the loss (in ₹)?
34. 34.Arjun’s income was ₹490 and the profit was ₹220. One expense was ₹90 (lemons). How much was the other expense, for posters (in ₹)?
35. 35.Joseph’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹60 (card paper)
    Expense: ₹30 (lemons)
    What is the profit (in ₹)?
36. 36.Rohan’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹10 (paper cups)
    Expense: ₹310 (sugar)
    How much is the loss (in ₹)?
37. 37.Diya’s stall took in ₹190 on Friday, ₹70 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
38. 38.Lakshmi’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹500 (evening sales)
    Expense: ₹150 (sugar)
    Expense: ₹190 (ribbon)
    What is the profit (in ₹)?
39. 39.📒 Income or expense: payment for a cake order? (a) expense (b) income
40. 40.True or false: “tutoring fees received” is income (money in). (a) False (b) True

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