Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 182 · 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.Farhan’s stall took in ₹140 on Friday, ₹110 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
2. 2.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) printing posters (d) tutoring fees received
3. 3.📅 When is the best time to update your records? (a) whenever you like (b) never (c) the same day (d) once a year
4. 4.Riya’s record for the day:
   Income: ₹120 (morning sales)
   Income: ₹180 (evening sales)
   Expense: ₹80 (lemons)
   Expense: ₹90 (stall fee)
   What is the profit (in ₹)?
5. 5.Kavya’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹410 (evening sales)
   Expense: ₹150 (lemons)
   Expense: ₹130 (sugar)
   What is the profit (in ₹)?
6. 6.Aarav’s record for a rainy day:
   Income: ₹210 (sales)
   Expense: ₹80 (stall fee)
   Expense: ₹150 (ribbon)
   How much is the loss (in ₹)?
7. 7.Meera’s record for the day:
   Income: ₹460 (morning sales)
   Income: ₹50 (evening sales)
   Expense: ₹40 (lemons)
   Expense: ₹200 (posters)
   What is the profit (in ₹)?
8. 8.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) only the bag (d) a selfie
9. 9.➖ Profit in your records = (a) expenses − income (b) just the income (c) income + expenses (d) income − expenses
10. 10.Saanvi’s income was ₹170 and the profit was ₹50. One expense was ₹80 (lemons). How much was the other expense, for stall fee (in ₹)?
11. 11.True or false: “printing posters” is an expense (money out). (a) True (b) False
12. 12.True or false: “money from sales” is income (money in). (a) False (b) True
13. 13.Lakshmi’s stall took in ₹380 on Friday, ₹180 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
14. 14.Tara’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹450 (evening sales)
    Expense: ₹200 (stall fee)
    Expense: ₹30 (lemons)
    What is the profit (in ₹)?
15. 15.Tara’s stall took in ₹50 on Friday, ₹240 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
16. 16.Which of these is income (money in)? (a) money from sales (b) buying lemons (c) buying paper cups (d) printing posters
17. 17.True or false: “money from sales” is an expense (money out). (a) True (b) False
18. 18.Kabir’s income was ₹360 and the profit was ₹200. One expense was ₹50 (transport). How much was the other expense, for card paper (in ₹)?
19. 19.Arjun’s stall took in ₹100 on Friday, ₹140 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
20. 20.Rohan’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹120 (paper cups)
    Expense: ₹30 (transport)
    What is the profit (in ₹)?
21. 21.Vihaan’s stall took in ₹230 on Friday, ₹230 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
22. 22.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) printing posters (d) cash from selling plants
23. 23.Vihaan’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹80 (sugar)
    Expense: ₹120 (stall fee)
    What is the profit (in ₹)?
24. 24.Vihaan’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹180 (sugar)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
25. 25.📒 Income or expense: buying paper cups? (a) income (b) expense
26. 26.True or false: “paying the stall fee” is income (money in). (a) True (b) False
27. 27.📒 Income or expense: buying lemons? (a) income (b) expense
28. 28.Rohan’s stall took in ₹50 on Friday, ₹180 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
29. 29.True or false: “buying lemons” is an expense (money out). (a) True (b) False
30. 30.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
31. 31.Joseph’s income was ₹430 and the profit was ₹290. One expense was ₹40 (ribbon). How much was the other expense, for lemons (in ₹)?
32. 32.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) cash from selling plants (d) buying lemons
33. 33.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) a card order paid (d) paying the stall fee
34. 34.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to look busy (d) to know the real profit
35. 35.📒 Income or expense: tutoring fees received? (a) income (b) expense
36. 36.Zoya’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹40 (ribbon)
    Expense: ₹80 (card paper)
    How much is the loss (in ₹)?
37. 37.True or false: “buying paper cups” is income (money in). (a) True (b) False
38. 38.Gurpreet’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹380 (evening sales)
    Expense: ₹180 (paper cups)
    Expense: ₹40 (transport)
    What is the profit (in ₹)?
39. 39.Vihaan’s stall took in ₹230 on Friday, ₹370 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
40. 40.Meera’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹110 (ribbon)
    Expense: ₹130 (posters)
    What is the profit (in ₹)?

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