Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 294 · 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.Diya’s stall took in ₹230 on Friday, ₹90 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
2. 2.True or false: “money from sales” is income (money in). (a) False (b) True
3. 3.Saanvi’s record for the day:
   Income: ₹50 (morning sales)
   Income: ₹270 (evening sales)
   Expense: ₹50 (paper cups)
   Expense: ₹50 (stall fee)
   What is the profit (in ₹)?
4. 4.Lakshmi’s record for the day:
   Income: ₹280 (morning sales)
   Income: ₹200 (evening sales)
   Expense: ₹130 (transport)
   Expense: ₹150 (lemons)
   What is the profit (in ₹)?
5. 5.Which of these is income (money in)? (a) printing posters (b) tutoring fees received (c) bus fare to the market (d) buying lemons
6. 6.True or false: “bus fare to the market” is income (money in). (a) True (b) False
7. 7.Gurpreet’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹50 (paper cups)
   Expense: ₹140 (sugar)
   How much is the loss (in ₹)?
8. 8.Tara’s income was ₹210 and the profit was ₹120. One expense was ₹60 (paper cups). How much was the other expense, for card paper (in ₹)?
9. 9.Kabir’s record for the day:
   Income: ₹30 (morning sales)
   Income: ₹320 (evening sales)
   Expense: ₹50 (stall fee)
   Expense: ₹170 (ribbon)
   What is the profit (in ₹)?
10. 10.Saanvi’s stall took in ₹140 on Friday, ₹60 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
11. 11.True or false: “tutoring fees received” is income (money in). (a) True (b) False
12. 12.📒 Income or expense: bus fare to the market? (a) income (b) expense
13. 13.True or false: “printing posters” is income (money in). (a) False (b) True
14. 14.Kabir’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹110 (sugar)
    Expense: ₹200 (paper cups)
    What is the profit (in ₹)?
15. 15.📒 Income or expense: tutoring fees received? (a) income (b) expense
16. 16.📒 Income or expense: paying the stall fee? (a) expense (b) income
17. 17.Joseph’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹150 (ribbon)
    Expense: ₹180 (stall fee)
    What is the profit (in ₹)?
18. 18.Meera’s record for the day:
    Income: ₹430 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹160 (card paper)
    Expense: ₹30 (sugar)
    What is the profit (in ₹)?
19. 19.📒 Income or expense: printing posters? (a) expense (b) income
20. 20.Aarav’s record for the day:
    Income: ₹500 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹160 (paper cups)
    Expense: ₹200 (transport)
    What is the profit (in ₹)?
21. 21.Which of these is income (money in)? (a) payment for a cake order (b) buying lemons (c) paying the stall fee (d) bus fare to the market
22. 22.📒 Income or expense: money from sales? (a) expense (b) income
23. 23.Kabir’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹90 (stall fee)
    Expense: ₹50 (sugar)
    How much is the loss (in ₹)?
24. 24.True or false: “payment for a cake order” is income (money in). (a) False (b) True
25. 25.True or false: “paying the stall fee” is income (money in). (a) True (b) False
26. 26.Farhan’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹190 (stall fee)
    How much is the loss (in ₹)?
27. 27.➖ Profit in your records = (a) expenses − income (b) just the income (c) income − expenses (d) income + expenses
28. 28.📒 Income or expense: a card order paid? (a) income (b) expense
29. 29.Zoya’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹80 (card paper)
    Expense: ₹200 (ribbon)
    What is the profit (in ₹)?
30. 30.Lakshmi’s stall took in ₹50 on Friday, ₹320 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
31. 31.Which of these is an expense (money out)? (a) buying paper cups (b) money from sales (c) tutoring fees received (d) payment for a cake order
32. 32.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) a card order paid (d) buying lemons
33. 33.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to fill a notebook (d) to look busy
34. 34.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt
35. 35.Kabir’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹160 (card paper)
    Expense: ₹60 (paper cups)
    What is the profit (in ₹)?
36. 36.Rohan’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹80 (card paper)
    Expense: ₹130 (lemons)
    How much is the loss (in ₹)?
37. 37.Gurpreet’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹160 (posters)
    Expense: ₹30 (card paper)
    How much is the loss (in ₹)?
38. 38.Tara’s income was ₹420 and the profit was ₹130. One expense was ₹190 (posters). How much was the other expense, for paper cups (in ₹)?
39. 39.📅 When is the best time to update your records? (a) the same day (b) never (c) once a year (d) whenever you like
40. 40.📒 Income or expense: buying lemons? (a) income (b) expense

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