Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 251 · 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: money from sales? (a) expense (b) income
2. 2.True or false: “bus fare to the market” is income (money in). (a) True (b) False
3. 3.📒 Income or expense: paying the stall fee? (a) expense (b) income
4. 4.📒 Income or expense: payment for a cake order? (a) expense (b) income
5. 5.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) buying paper cups (d) a card order paid
6. 6.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) cash from selling plants (d) buying paper cups
7. 7.Aarav’s stall took in ₹350 on Friday, ₹290 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
8. 8.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) buying paper cups (d) tutoring fees received
9. 9.Rohan’s record for a rainy day:
   Income: ₹180 (sales)
   Expense: ₹160 (card paper)
   Expense: ₹30 (ribbon)
   How much is the loss (in ₹)?
10. 10.Which of these is income (money in)? (a) cash from selling plants (b) buying paper cups (c) buying lemons (d) paying the stall fee
11. 11.Tara’s income was ₹360 and the profit was ₹250. One expense was ₹30 (card paper). How much was the other expense, for lemons (in ₹)?
12. 12.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) never (d) once a year
13. 13.📒 Income or expense: tutoring fees received? (a) expense (b) income
14. 14.Ananya’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹20 (paper cups)
    Expense: ₹100 (sugar)
    How much is the loss (in ₹)?
15. 15.📒 Income or expense: cash from selling plants? (a) income (b) expense
16. 16.📒 Income or expense: buying lemons? (a) income (b) expense
17. 17.Arjun’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹30 (paper cups)
    Expense: ₹70 (lemons)
    What is the profit (in ₹)?
18. 18.Ananya’s stall took in ₹200 on Friday, ₹360 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
19. 19.Zoya’s stall took in ₹170 on Friday, ₹180 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
20. 20.Tara’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹20 (stall fee)
    Expense: ₹120 (paper cups)
    How much is the loss (in ₹)?
21. 21.Tara’s stall took in ₹130 on Friday, ₹100 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
22. 22.Riya’s stall took in ₹110 on Friday, ₹400 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
23. 23.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) cash from selling plants (d) buying lemons
24. 24.Diya’s stall took in ₹140 on Friday, ₹240 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
25. 25.Arjun’s income was ₹100 and the profit was ₹70. One expense was ₹10 (stall fee). How much was the other expense, for transport (in ₹)?
26. 26.Tara’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹160 (transport)
    Expense: ₹110 (card paper)
    How much is the loss (in ₹)?
27. 27.📒 Income or expense: bus fare to the market? (a) expense (b) income
28. 28.Lakshmi’s stall took in ₹250 on Friday, ₹100 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
29. 29.Arjun’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹90 (ribbon)
    Expense: ₹220 (lemons)
    How much is the loss (in ₹)?
30. 30.True or false: “printing posters” is income (money in). (a) False (b) True
31. 31.Ishaan’s stall took in ₹110 on Friday, ₹360 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
32. 32.Kabir’s record for the day:
    Income: ₹520 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹90 (ribbon)
    Expense: ₹170 (paper cups)
    What is the profit (in ₹)?
33. 33.📒 Income or expense: buying paper cups? (a) expense (b) income
34. 34.Diya’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹180 (stall fee)
    Expense: ₹140 (transport)
    What is the profit (in ₹)?
35. 35.Zoya’s income was ₹360 and the profit was ₹90. One expense was ₹20 (paper cups). How much was the other expense, for transport (in ₹)?
36. 36.📒 Income or expense: printing posters? (a) income (b) expense
37. 37.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) cash from selling plants (d) printing posters
38. 38.Vihaan’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹130 (paper cups)
    Expense: ₹90 (lemons)
    What is the profit (in ₹)?
39. 39.True or false: “buying paper cups” is income (money in). (a) False (b) True
40. 40.Tara’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹60 (stall fee)
    Expense: ₹50 (ribbon)
    What is the profit (in ₹)?

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