Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 186 · 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.Ananya’s stall took in ₹120 on Friday, ₹310 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
2. 2.➖ Profit in your records = (a) just the income (b) income + expenses (c) expenses − income (d) income − expenses
3. 3.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) to fill a notebook (d) no reason
4. 4.Meera’s record for a rainy day:
   Income: ₹230 (sales)
   Expense: ₹110 (paper cups)
   Expense: ₹200 (posters)
   How much is the loss (in ₹)?
5. 5.Riya’s stall took in ₹260 on Friday, ₹390 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
6. 6.Ishaan’s record for the day:
   Income: ₹190 (morning sales)
   Income: ₹80 (evening sales)
   Expense: ₹170 (card paper)
   Expense: ₹30 (transport)
   What is the profit (in ₹)?
7. 7.📒 Income or expense: payment for a cake order? (a) expense (b) income
8. 8.Zoya’s stall took in ₹130 on Friday, ₹120 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
9. 9.Meera’s income was ₹200 and the profit was ₹10. One expense was ₹30 (transport). How much was the other expense, for paper cups (in ₹)?
10. 10.📒 Income or expense: money from sales? (a) expense (b) income
11. 11.Which of these is income (money in)? (a) bus fare to the market (b) a card order paid (c) buying paper cups (d) paying the stall fee
12. 12.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) payment for a cake order (d) buying lemons
13. 13.Tara’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹140 (card paper)
    Expense: ₹130 (paper cups)
    How much is the loss (in ₹)?
14. 14.Kabir’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹240 (posters)
    Expense: ₹20 (lemons)
    How much is the loss (in ₹)?
15. 15.Riya’s income was ₹110 and the profit was ₹80. One expense was ₹10 (lemons). How much was the other expense, for sugar (in ₹)?
16. 16.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
17. 17.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) nothing (d) the bill or receipt
18. 18.Which of these is income (money in)? (a) buying paper cups (b) tutoring fees received (c) printing posters (d) paying the stall fee
19. 19.Zoya’s income was ₹390 and the profit was ₹340. One expense was ₹30 (card paper). How much was the other expense, for lemons (in ₹)?
20. 20.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
21. 21.Which of these is an expense (money out)? (a) tutoring fees received (b) bus fare to the market (c) cash from selling plants (d) payment for a cake order
22. 22.Kabir’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹160 (paper cups)
    Expense: ₹90 (card paper)
    How much is the loss (in ₹)?
23. 23.Saanvi’s income was ₹470 and the profit was ₹320. One expense was ₹20 (posters). How much was the other expense, for stall fee (in ₹)?
24. 24.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) tutoring fees received (d) paying the stall fee
25. 25.True or false: “tutoring fees received” is income (money in). (a) False (b) True
26. 26.Tara’s stall took in ₹100 on Friday, ₹210 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
27. 27.Meera’s income was ₹230 and the profit was ₹20. One expense was ₹150 (sugar). How much was the other expense, for lemons (in ₹)?
28. 28.True or false: “money from sales” is income (money in). (a) False (b) True
29. 29.Arjun’s income was ₹140 and the profit was ₹100. One expense was ₹10 (card paper). How much was the other expense, for sugar (in ₹)?
30. 30.Which of these is an expense (money out)? (a) buying lemons (b) cash from selling plants (c) tutoring fees received (d) payment for a cake order
31. 31.📒 Income or expense: buying lemons? (a) income (b) expense
32. 32.Which of these is income (money in)? (a) money from sales (b) buying lemons (c) bus fare to the market (d) paying the stall fee
33. 33.📒 Income or expense: buying paper cups? (a) income (b) expense
34. 34.True or false: “money from sales” is an expense (money out). (a) True (b) False
35. 35.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) buying paper cups (d) cash from selling plants
36. 36.Gurpreet’s stall took in ₹50 on Friday, ₹190 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
37. 37.📒 Income or expense: tutoring fees received? (a) expense (b) income
38. 38.Gurpreet’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹60 (lemons)
    Expense: ₹50 (stall fee)
    What is the profit (in ₹)?
39. 39.📒 Income or expense: bus fare to the market? (a) income (b) expense
40. 40.Rohan’s stall took in ₹290 on Friday, ₹300 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?

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