Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 279 · 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.Joseph’s stall took in ₹80 on Friday, ₹390 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
2. 2.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) a card order paid (d) buying paper cups
3. 3.Diya’s record for the day:
   Income: ₹120 (morning sales)
   Income: ₹320 (evening sales)
   Expense: ₹90 (transport)
   Expense: ₹140 (stall fee)
   What is the profit (in ₹)?
4. 4.Which of these is an expense (money out)? (a) paying the stall fee (b) money from sales (c) tutoring fees received (d) payment for a cake order
5. 5.Aarav’s record for the day:
   Income: ₹60 (morning sales)
   Income: ₹110 (evening sales)
   Expense: ₹60 (ribbon)
   Expense: ₹60 (lemons)
   What is the profit (in ₹)?
6. 6.📒 Income or expense: tutoring fees received? (a) expense (b) income
7. 7.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) no reason (d) to know the real profit
8. 8.Kabir’s record for the day:
   Income: ₹110 (morning sales)
   Income: ₹160 (evening sales)
   Expense: ₹30 (lemons)
   Expense: ₹60 (sugar)
   What is the profit (in ₹)?
9. 9.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) never (d) the same day
10. 10.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
11. 11.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) payment for a cake order (d) buying paper cups
12. 12.📒 Income or expense: bus fare to the market? (a) income (b) expense
13. 13.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) expenses − income (d) just the income
14. 14.True or false: “buying lemons” is income (money in). (a) True (b) False
15. 15.Dev’s stall took in ₹330 on Friday, ₹380 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
16. 16.Farhan’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹150 (ribbon)
    Expense: ₹60 (posters)
    How much is the loss (in ₹)?
17. 17.Arjun’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹30 (lemons)
    Expense: ₹60 (transport)
    What is the profit (in ₹)?
18. 18.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) tutoring fees received (d) buying lemons
19. 19.📒 Income or expense: cash from selling plants? (a) expense (b) income
20. 20.True or false: “paying the stall fee” is income (money in). (a) True (b) False
21. 21.Rohan’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹10 (sugar)
    Expense: ₹110 (lemons)
    How much is the loss (in ₹)?
22. 22.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) paying the stall fee (d) cash from selling plants
23. 23.Which of these is an expense (money out)? (a) bus fare to the market (b) tutoring fees received (c) a card order paid (d) cash from selling plants
24. 24.📒 Income or expense: buying lemons? (a) expense (b) income
25. 25.📒 Income or expense: money from sales? (a) expense (b) income
26. 26.Farhan’s stall took in ₹290 on Friday, ₹400 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
27. 27.Ishaan’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹80 (card paper)
    Expense: ₹150 (lemons)
    What is the profit (in ₹)?
28. 28.Rohan’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹130 (posters)
    Expense: ₹40 (lemons)
    What is the profit (in ₹)?
29. 29.📒 Income or expense: buying paper cups? (a) income (b) expense
30. 30.📒 Income or expense: paying the stall fee? (a) expense (b) income
31. 31.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) nothing (d) only the bag
32. 32.Tara’s stall took in ₹280 on Friday, ₹130 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
33. 33.Diya’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹260 (posters)
    Expense: ₹30 (lemons)
    How much is the loss (in ₹)?
34. 34.📒 Income or expense: payment for a cake order? (a) income (b) expense
35. 35.Which of these is income (money in)? (a) tutoring fees received (b) paying the stall fee (c) buying lemons (d) printing posters
36. 36.Joseph’s income was ₹330 and the profit was ₹140. One expense was ₹60 (card paper). How much was the other expense, for ribbon (in ₹)?
37. 37.Aarav’s stall took in ₹390 on Friday, ₹90 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
38. 38.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) buying paper cups (d) payment for a cake order
39. 39.Zoya’s stall took in ₹180 on Friday, ₹150 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
40. 40.Meera’s income was ₹260 and the profit was ₹230. One expense was ₹20 (stall fee). How much was the other expense, for lemons (in ₹)?

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