Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 247 · 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.📒 Income or expense: buying paper cups? (a) income (b) expense
2. 2.Tara’s income was ₹360 and the profit was ₹50. One expense was ₹240 (ribbon). How much was the other expense, for posters (in ₹)?
3. 3.Aarav’s income was ₹200 and the profit was ₹30. One expense was ₹130 (card paper). How much was the other expense, for transport (in ₹)?
4. 4.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) tutoring fees received (d) paying the stall fee
5. 5.Joseph’s stall took in ₹140 on Friday, ₹330 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
6. 6.Riya’s record for the day:
   Income: ₹20 (morning sales)
   Income: ₹460 (evening sales)
   Expense: ₹120 (transport)
   Expense: ₹130 (ribbon)
   What is the profit (in ₹)?
7. 7.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
8. 8.Vihaan’s record for the day:
   Income: ₹160 (morning sales)
   Income: ₹110 (evening sales)
   Expense: ₹170 (stall fee)
   Expense: ₹80 (ribbon)
   What is the profit (in ₹)?
9. 9.Dev’s income was ₹340 and the profit was ₹100. One expense was ₹120 (ribbon). How much was the other expense, for posters (in ₹)?
10. 10.Rohan’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹160 (paper cups)
    Expense: ₹80 (lemons)
    What is the profit (in ₹)?
11. 11.True or false: “cash from selling plants” is income (money in). (a) True (b) False
12. 12.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) the same day (d) never
13. 13.Rohan’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹50 (sugar)
    Expense: ₹60 (lemons)
    What is the profit (in ₹)?
14. 14.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to fill a notebook (d) to know the real profit
15. 15.Diya’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹130 (ribbon)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
16. 16.True or false: “buying paper cups” is income (money in). (a) False (b) True
17. 17.Riya’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹110 (lemons)
    Expense: ₹200 (stall fee)
    How much is the loss (in ₹)?
18. 18.Tara’s income was ₹360 and the profit was ₹290. One expense was ₹30 (sugar). How much was the other expense, for card paper (in ₹)?
19. 19.📒 Income or expense: a card order paid? (a) income (b) expense
20. 20.Riya’s stall took in ₹140 on Friday, ₹350 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
21. 21.True or false: “bus fare to the market” is income (money in). (a) False (b) True
22. 22.📒 Income or expense: money from sales? (a) income (b) expense
23. 23.📒 Income or expense: cash from selling plants? (a) income (b) expense
24. 24.Kabir’s stall took in ₹100 on Friday, ₹330 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
25. 25.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) buying lemons (d) cash from selling plants
26. 26.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) money from sales (d) bus fare to the market
27. 27.True or false: “money from sales” is income (money in). (a) False (b) True
28. 28.📒 Income or expense: paying the stall fee? (a) expense (b) income
29. 29.Saanvi’s stall took in ₹250 on Friday, ₹260 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
30. 30.Lakshmi’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹170 (sugar)
    Expense: ₹170 (lemons)
    What is the profit (in ₹)?
31. 31.Joseph’s income was ₹260 and the profit was ₹120. One expense was ₹110 (card paper). How much was the other expense, for stall fee (in ₹)?
32. 32.Lakshmi’s stall took in ₹70 on Friday, ₹340 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
33. 33.Farhan’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹100 (card paper)
    Expense: ₹110 (lemons)
    What is the profit (in ₹)?
34. 34.Tara’s stall took in ₹160 on Friday, ₹150 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
35. 35.Which of these is an expense (money out)? (a) paying the stall fee (b) money from sales (c) a card order paid (d) tutoring fees received
36. 36.Meera’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹40 (posters)
    Expense: ₹80 (stall fee)
    How much is the loss (in ₹)?
37. 37.Lakshmi’s stall took in ₹130 on Friday, ₹140 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
38. 38.📒 Income or expense: bus fare to the market? (a) income (b) expense
39. 39.📒 Income or expense: tutoring fees received? (a) expense (b) income
40. 40.True or false: “buying lemons” is an expense (money out). (a) False (b) True

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