Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 340 · 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.Ananya’s record for the day:
   Income: ₹180 (morning sales)
   Income: ₹230 (evening sales)
   Expense: ₹50 (ribbon)
   Expense: ₹80 (paper cups)
   What is the profit (in ₹)?
2. 2.True or false: “a card order paid” is an expense (money out). (a) True (b) False
3. 3.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) buying paper cups (d) a card order paid
4. 4.Ananya’s stall took in ₹360 on Friday, ₹130 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
5. 5.True or false: “money from sales” is income (money in). (a) True (b) False
6. 6.Diya’s record for the day:
   Income: ₹160 (morning sales)
   Income: ₹150 (evening sales)
   Expense: ₹90 (transport)
   Expense: ₹190 (card paper)
   What is the profit (in ₹)?
7. 7.Which of these is income (money in)? (a) money from sales (b) printing posters (c) bus fare to the market (d) buying paper cups
8. 8.Ananya’s stall took in ₹370 on Friday, ₹70 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
9. 9.Gurpreet’s income was ₹500 and the profit was ₹90. One expense was ₹50 (card paper). How much was the other expense, for ribbon (in ₹)?
10. 10.Joseph’s income was ₹320 and the profit was ₹200. One expense was ₹100 (ribbon). How much was the other expense, for transport (in ₹)?
11. 11.Dev’s income was ₹260 and the profit was ₹60. One expense was ₹180 (lemons). How much was the other expense, for ribbon (in ₹)?
12. 12.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
13. 13.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) a card order paid (d) buying lemons
14. 14.Dev’s income was ₹150 and the profit was ₹80. One expense was ₹50 (stall fee). How much was the other expense, for card paper (in ₹)?
15. 15.📒 Income or expense: cash from selling plants? (a) expense (b) income
16. 16.Kavya’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹140 (paper cups)
    Expense: ₹140 (posters)
    What is the profit (in ₹)?
17. 17.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to fill a notebook (d) to look busy
18. 18.Ishaan’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹130 (card paper)
    Expense: ₹30 (posters)
    How much is the loss (in ₹)?
19. 19.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
20. 20.True or false: “payment for a cake order” is income (money in). (a) False (b) True
21. 21.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) printing posters (d) tutoring fees received
22. 22.Nisha’s income was ₹140 and the profit was ₹40. One expense was ₹90 (stall fee). How much was the other expense, for transport (in ₹)?
23. 23.Saanvi’s income was ₹180 and the profit was ₹130. One expense was ₹10 (posters). How much was the other expense, for card paper (in ₹)?
24. 24.Diya’s stall took in ₹210 on Friday, ₹310 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
25. 25.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) payment for a cake order (d) buying lemons
26. 26.Which of these is an expense (money out)? (a) bus fare to the market (b) a card order paid (c) tutoring fees received (d) money from sales
27. 27.📒 Income or expense: payment for a cake order? (a) expense (b) income
28. 28.Kavya’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹40 (sugar)
    Expense: ₹110 (transport)
    How much is the loss (in ₹)?
29. 29.True or false: “paying the stall fee” is income (money in). (a) True (b) False
30. 30.Riya’s stall took in ₹290 on Friday, ₹110 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
31. 31.Ishaan’s stall took in ₹100 on Friday, ₹240 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
32. 32.Farhan’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹90 (ribbon)
    Expense: ₹30 (card paper)
    How much is the loss (in ₹)?
33. 33.Saanvi’s record for the day:
    Income: ₹400 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹130 (lemons)
    Expense: ₹30 (paper cups)
    What is the profit (in ₹)?
34. 34.Meera’s stall took in ₹310 on Friday, ₹290 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
35. 35.Rohan’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹50 (paper cups)
    Expense: ₹310 (card paper)
    How much is the loss (in ₹)?
36. 36.Vihaan’s stall took in ₹100 on Friday, ₹300 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
37. 37.📒 Income or expense: bus fare to the market? (a) income (b) expense
38. 38.Nisha’s income was ₹440 and the profit was ₹50. One expense was ₹150 (lemons). How much was the other expense, for stall fee (in ₹)?
39. 39.Vihaan’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹200 (card paper)
    Expense: ₹20 (lemons)
    What is the profit (in ₹)?
40. 40.Diya’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹300 (ribbon)
    Expense: ₹30 (stall fee)
    How much is the loss (in ₹)?

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