Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 308 · 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: a card order paid? (a) expense (b) income
2. 2.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) only the bag (d) a selfie
3. 3.📅 When is the best time to update your records? (a) once a year (b) never (c) whenever you like (d) the same day
4. 4.Rohan’s stall took in ₹400 on Friday, ₹170 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
5. 5.Gurpreet’s income was ₹430 and the profit was ₹170. One expense was ₹180 (ribbon). How much was the other expense, for posters (in ₹)?
6. 6.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) to look busy (d) no reason
7. 7.📒 Income or expense: money from sales? (a) expense (b) income
8. 8.Saanvi’s record for a rainy day:
   Income: ₹260 (sales)
   Expense: ₹20 (paper cups)
   Expense: ₹270 (stall fee)
   How much is the loss (in ₹)?
9. 9.Kavya’s stall took in ₹120 on Friday, ₹100 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
10. 10.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) printing posters (d) a card order paid
11. 11.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) tutoring fees received (d) bus fare to the market
12. 12.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) a card order paid (d) buying lemons
13. 13.Rohan’s record for the day:
    Income: ₹520 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹180 (stall fee)
    Expense: ₹90 (posters)
    What is the profit (in ₹)?
14. 14.Farhan’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹320 (posters)
    How much is the loss (in ₹)?
15. 15.📒 Income or expense: buying paper cups? (a) expense (b) income
16. 16.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) payment for a cake order (d) buying paper cups
17. 17.📒 Income or expense: buying lemons? (a) income (b) expense
18. 18.Saanvi’s record for the day:
    Income: ₹440 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹110 (lemons)
    Expense: ₹150 (stall fee)
    What is the profit (in ₹)?
19. 19.Diya’s stall took in ₹140 on Friday, ₹370 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
20. 20.Farhan’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹190 (stall fee)
    Expense: ₹60 (lemons)
    How much is the loss (in ₹)?
21. 21.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) paying the stall fee (d) cash from selling plants
22. 22.Tara’s stall took in ₹100 on Friday, ₹350 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
23. 23.True or false: “cash from selling plants” is income (money in). (a) True (b) False
24. 24.Ishaan’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹30 (ribbon)
    Expense: ₹140 (lemons)
    What is the profit (in ₹)?
25. 25.Aarav’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹140 (stall fee)
    Expense: ₹70 (card paper)
    How much is the loss (in ₹)?
26. 26.Aarav’s income was ₹480 and the profit was ₹390. One expense was ₹30 (stall fee). How much was the other expense, for lemons (in ₹)?
27. 27.Ananya’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹10 (paper cups)
    Expense: ₹370 (sugar)
    How much is the loss (in ₹)?
28. 28.True or false: “a card order paid” is income (money in). (a) True (b) False
29. 29.True or false: “money from sales” is an expense (money out). (a) True (b) False
30. 30.Diya’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹100 (card paper)
    Expense: ₹170 (stall fee)
    What is the profit (in ₹)?
31. 31.Joseph’s income was ₹360 and the profit was ₹170. One expense was ₹60 (stall fee). How much was the other expense, for paper cups (in ₹)?
32. 32.Rohan’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹20 (transport)
    Expense: ₹140 (stall fee)
    How much is the loss (in ₹)?
33. 33.Ishaan’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹60 (ribbon)
    Expense: ₹150 (paper cups)
    What is the profit (in ₹)?
34. 34.📒 Income or expense: payment for a cake order? (a) expense (b) income
35. 35.Riya’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹170 (card paper)
    Expense: ₹90 (sugar)
    What is the profit (in ₹)?
36. 36.Riya’s income was ₹280 and the profit was ₹40. One expense was ₹170 (sugar). How much was the other expense, for ribbon (in ₹)?
37. 37.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) just the income (d) expenses − income
38. 38.Lakshmi’s stall took in ₹90 on Friday, ₹110 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
39. 39.Rohan’s stall took in ₹50 on Friday, ₹360 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
40. 40.Ishaan’s income was ₹220 and the profit was ₹50. One expense was ₹120 (stall fee). How much was the other expense, for transport (in ₹)?

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