Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 963 · 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 ₹160 on Friday, ₹320 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
2. 2.Lakshmi’s record for a rainy day:
   Income: ₹80 (sales)
   Expense: ₹80 (stall fee)
   Expense: ₹10 (ribbon)
   How much is the loss (in ₹)?
3. 3.Ananya’s record for the day:
   Income: ₹270 (morning sales)
   Income: ₹270 (evening sales)
   Expense: ₹160 (paper cups)
   Expense: ₹200 (ribbon)
   What is the profit (in ₹)?
4. 4.Ananya’s income was ₹300 and the profit was ₹150. One expense was ₹80 (transport). How much was the other expense, for posters (in ₹)?
5. 5.📒 Income or expense: cash from selling plants? (a) expense (b) income
6. 6.Farhan’s stall took in ₹190 on Friday, ₹120 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
7. 7.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) the bill or receipt (d) only the bag
8. 8.Arjun’s stall took in ₹150 on Friday, ₹290 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
9. 9.➖ Profit in your records = (a) income − expenses (b) just the income (c) expenses − income (d) income + expenses
10. 10.Ishaan’s stall took in ₹70 on Friday, ₹70 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
11. 11.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) never (d) the same day
12. 12.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) tutoring fees received (d) bus fare to the market
13. 13.Arjun’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹170 (ribbon)
    Expense: ₹80 (lemons)
    What is the profit (in ₹)?
14. 14.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) no reason (d) to fill a notebook
15. 15.Which of these is an expense (money out)? (a) cash from selling plants (b) paying the stall fee (c) a card order paid (d) money from sales
16. 16.Which of these is income (money in)? (a) paying the stall fee (b) money from sales (c) buying paper cups (d) printing posters
17. 17.Farhan’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹170 (lemons)
    Expense: ₹110 (stall fee)
    What is the profit (in ₹)?
18. 18.True or false: “buying lemons” is income (money in). (a) True (b) False
19. 19.Zoya’s income was ₹230 and the profit was ₹70. One expense was ₹50 (stall fee). How much was the other expense, for sugar (in ₹)?
20. 20.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
21. 21.Kabir’s income was ₹430 and the profit was ₹80. One expense was ₹30 (lemons). How much was the other expense, for sugar (in ₹)?
22. 22.True or false: “paying the stall fee” is income (money in). (a) False (b) True
23. 23.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) payment for a cake order (d) buying lemons
24. 24.Meera’s stall took in ₹70 on Friday, ₹50 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
25. 25.Aarav’s income was ₹390 and the profit was ₹20. One expense was ₹310 (posters). How much was the other expense, for card paper (in ₹)?
26. 26.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) paying the stall fee (d) cash from selling plants
27. 27.📒 Income or expense: buying lemons? (a) expense (b) income
28. 28.📒 Income or expense: bus fare to the market? (a) income (b) expense
29. 29.True or false: “buying paper cups” is income (money in). (a) True (b) False
30. 30.Diya’s stall took in ₹60 on Friday, ₹290 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
31. 31.Arjun’s income was ₹470 and the profit was ₹450. One expense was ₹10 (stall fee). How much was the other expense, for sugar (in ₹)?
32. 32.📒 Income or expense: a card order paid? (a) income (b) expense
33. 33.Farhan’s stall took in ₹210 on Friday, ₹360 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
34. 34.Aarav’s stall took in ₹250 on Friday, ₹100 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
35. 35.Nisha’s stall took in ₹160 on Friday, ₹390 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
36. 36.📒 Income or expense: buying paper cups? (a) expense (b) income
37. 37.Dev’s income was ₹470 and the profit was ₹380. One expense was ₹40 (stall fee). How much was the other expense, for transport (in ₹)?
38. 38.Riya’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹30 (paper cups)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
39. 39.📒 Income or expense: payment for a cake order? (a) income (b) expense
40. 40.True or false: “tutoring fees received” is income (money in). (a) False (b) True

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