Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 1 · 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.Gurpreet’s stall took in ₹270 on Friday, ₹340 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
2. 2.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) money from sales (d) printing posters
3. 3.Tara’s record for the day:
   Income: ₹530 (morning sales)
   Income: ₹30 (evening sales)
   Expense: ₹190 (sugar)
   Expense: ₹190 (transport)
   What is the profit (in ₹)?
4. 4.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to fill a notebook (d) to know the real profit
5. 5.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt
6. 6.📒 Income or expense: money from sales? (a) expense (b) income
7. 7.True or false: “printing posters” is an expense (money out). (a) True (b) False
8. 8.Which of these is income (money in)? (a) a card order paid (b) printing posters (c) paying the stall fee (d) bus fare to the market
9. 9.Tara’s stall took in ₹160 on Friday, ₹340 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
10. 10.Diya’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹140 (card paper)
    Expense: ₹70 (sugar)
    What is the profit (in ₹)?
11. 11.True or false: “buying lemons” is an expense (money out). (a) True (b) False
12. 12.Ananya’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹200 (card paper)
    Expense: ₹60 (posters)
    What is the profit (in ₹)?
13. 13.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) paying the stall fee (d) a card order paid
14. 14.Kavya’s stall took in ₹390 on Friday, ₹50 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
15. 15.Zoya’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹70 (posters)
    Expense: ₹70 (lemons)
    How much is the loss (in ₹)?
16. 16.📒 Income or expense: buying lemons? (a) expense (b) income
17. 17.True or false: “money from sales” is income (money in). (a) False (b) True
18. 18.📒 Income or expense: paying the stall fee? (a) income (b) expense
19. 19.Meera’s stall took in ₹290 on Friday, ₹350 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
20. 20.Meera’s stall took in ₹260 on Friday, ₹90 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
21. 21.Zoya’s stall took in ₹260 on Friday, ₹370 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
22. 22.Nisha’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹150 (transport)
    Expense: ₹40 (paper cups)
    How much is the loss (in ₹)?
23. 23.True or false: “tutoring fees received” is income (money in). (a) True (b) False
24. 24.Farhan’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹150 (transport)
    Expense: ₹120 (posters)
    How much is the loss (in ₹)?
25. 25.📅 When is the best time to update your records? (a) whenever you like (b) never (c) once a year (d) the same day
26. 26.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
27. 27.Tara’s income was ₹280 and the profit was ₹240. One expense was ₹30 (transport). How much was the other expense, for ribbon (in ₹)?
28. 28.True or false: “payment for a cake order” is income (money in). (a) False (b) True
29. 29.Meera’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹70 (lemons)
    Expense: ₹30 (sugar)
    How much is the loss (in ₹)?
30. 30.Which of these is an expense (money out)? (a) cash from selling plants (b) buying paper cups (c) money from sales (d) a card order paid
31. 31.📒 Income or expense: payment for a cake order? (a) income (b) expense
32. 32.📒 Income or expense: tutoring fees received? (a) income (b) expense
33. 33.Rohan’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹10 (lemons)
    Expense: ₹170 (stall fee)
    How much is the loss (in ₹)?
34. 34.True or false: “a card order paid” is an expense (money out). (a) True (b) False
35. 35.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) just the income (d) income − expenses
36. 36.Arjun’s income was ₹330 and the profit was ₹110. One expense was ₹60 (paper cups). How much was the other expense, for card paper (in ₹)?
37. 37.Arjun’s stall took in ₹120 on Friday, ₹100 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
38. 38.📒 Income or expense: cash from selling plants? (a) income (b) expense
39. 39.Rohan’s stall took in ₹280 on Friday, ₹230 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
40. 40.Dev’s stall took in ₹340 on Friday, ₹120 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?

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