Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 883 · 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.Dev’s stall took in ₹190 on Friday, ₹370 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
2. 2.Zoya’s stall took in ₹240 on Friday, ₹300 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
3. 3.Zoya’s stall took in ₹50 on Friday, ₹170 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
4. 4.Tara’s record for the day:
   Income: ₹160 (morning sales)
   Income: ₹80 (evening sales)
   Expense: ₹150 (lemons)
   Expense: ₹30 (ribbon)
   What is the profit (in ₹)?
5. 5.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
6. 6.True or false: “tutoring fees received” is income (money in). (a) True (b) False
7. 7.Ishaan’s record for a rainy day:
   Income: ₹280 (sales)
   Expense: ₹170 (lemons)
   Expense: ₹200 (sugar)
   How much is the loss (in ₹)?
8. 8.📒 Income or expense: money from sales? (a) expense (b) income
9. 9.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
10. 10.Which of these is an expense (money out)? (a) paying the stall fee (b) money from sales (c) cash from selling plants (d) payment for a cake order
11. 11.Saanvi’s stall took in ₹240 on Friday, ₹170 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
12. 12.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) buying lemons (d) a card order paid
13. 13.📒 Income or expense: cash from selling plants? (a) expense (b) income
14. 14.Ananya’s income was ₹380 and the profit was ₹80. One expense was ₹70 (card paper). How much was the other expense, for lemons (in ₹)?
15. 15.Ishaan’s stall took in ₹220 on Friday, ₹230 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
16. 16.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) paying the stall fee (d) tutoring fees received
17. 17.📒 Income or expense: paying the stall fee? (a) income (b) expense
18. 18.📒 Income or expense: buying paper cups? (a) income (b) expense
19. 19.Kabir’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹180 (sugar)
    Expense: ₹100 (ribbon)
    What is the profit (in ₹)?
20. 20.Saanvi’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹70 (posters)
    Expense: ₹130 (sugar)
    How much is the loss (in ₹)?
21. 21.📒 Income or expense: bus fare to the market? (a) expense (b) income
22. 22.Arjun’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹120 (stall fee)
    Expense: ₹50 (card paper)
    What is the profit (in ₹)?
23. 23.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to know the real profit (d) to fill a notebook
24. 24.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
25. 25.True or false: “printing posters” is an expense (money out). (a) True (b) False
26. 26.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
27. 27.Arjun’s income was ₹210 and the profit was ₹150. One expense was ₹10 (stall fee). How much was the other expense, for posters (in ₹)?
28. 28.📒 Income or expense: buying lemons? (a) expense (b) income
29. 29.Lakshmi’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹410 (evening sales)
    Expense: ₹70 (ribbon)
    Expense: ₹90 (posters)
    What is the profit (in ₹)?
30. 30.Rohan’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹20 (paper cups)
    Expense: ₹90 (stall fee)
    How much is the loss (in ₹)?
31. 31.Aarav’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹250 (paper cups)
    Expense: ₹20 (stall fee)
    How much is the loss (in ₹)?
32. 32.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) a selfie (d) nothing
33. 33.Dev’s stall took in ₹310 on Friday, ₹270 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
34. 34.Which of these is income (money in)? (a) printing posters (b) payment for a cake order (c) buying paper cups (d) buying lemons
35. 35.Which of these is an expense (money out)? (a) money from sales (b) buying paper cups (c) payment for a cake order (d) cash from selling plants
36. 36.Rohan’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹200 (stall fee)
    Expense: ₹30 (sugar)
    What is the profit (in ₹)?
37. 37.Vihaan’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹70 (card paper)
    Expense: ₹220 (lemons)
    How much is the loss (in ₹)?
38. 38.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
39. 39.Kavya’s stall took in ₹400 on Friday, ₹220 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
40. 40.Vihaan’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹10 (transport)
    Expense: ₹100 (paper cups)
    How much is the loss (in ₹)?

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