Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 354 · 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.Kabir’s income was ₹230 and the profit was ₹180. One expense was ₹10 (paper cups). How much was the other expense, for posters (in ₹)?
2. 2.Diya’s stall took in ₹280 on Friday, ₹160 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
3. 3.📒 Income or expense: buying paper cups? (a) income (b) expense
4. 4.Which of these is income (money in)? (a) money from sales (b) buying lemons (c) printing posters (d) bus fare to the market
5. 5.Arjun’s stall took in ₹330 on Friday, ₹240 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
6. 6.📒 Income or expense: cash from selling plants? (a) expense (b) income
7. 7.True or false: “bus fare to the market” is income (money in). (a) False (b) True
8. 8.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
9. 9.True or false: “buying lemons” is income (money in). (a) False (b) True
10. 10.True or false: “tutoring fees received” is income (money in). (a) True (b) False
11. 11.📒 Income or expense: money from sales? (a) expense (b) income
12. 12.Gurpreet’s stall took in ₹150 on Friday, ₹140 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
13. 13.📒 Income or expense: bus fare to the market? (a) income (b) expense
14. 14.Which of these is income (money in)? (a) a card order paid (b) paying the stall fee (c) printing posters (d) bus fare to the market
15. 15.📒 Income or expense: tutoring fees received? (a) income (b) expense
16. 16.Meera’s stall took in ₹70 on Friday, ₹180 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
17. 17.Which of these is an expense (money out)? (a) tutoring fees received (b) bus fare to the market (c) money from sales (d) payment for a cake order
18. 18.📒 Income or expense: payment for a cake order? (a) income (b) expense
19. 19.Gurpreet’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹40 (ribbon)
    Expense: ₹130 (sugar)
    How much is the loss (in ₹)?
20. 20.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) tutoring fees received (d) buying lemons
21. 21.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) only the bag (d) nothing
22. 22.Aarav’s stall took in ₹350 on Friday, ₹270 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
23. 23.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) a card order paid (d) buying paper cups
24. 24.Joseph’s stall took in ₹170 on Friday, ₹160 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
25. 25.Tara’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹100 (card paper)
    Expense: ₹30 (transport)
    What is the profit (in ₹)?
26. 26.Diya’s stall took in ₹120 on Friday, ₹350 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
27. 27.True or false: “buying lemons” is an expense (money out). (a) False (b) True
28. 28.Nisha’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹50 (card paper)
    Expense: ₹80 (stall fee)
    How much is the loss (in ₹)?
29. 29.Kabir’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹60 (posters)
    Expense: ₹90 (transport)
    How much is the loss (in ₹)?
30. 30.📒 Income or expense: a card order paid? (a) income (b) expense
31. 31.Farhan’s stall took in ₹400 on Friday, ₹60 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
32. 32.True or false: “paying the stall fee” is income (money in). (a) True (b) False
33. 33.Diya’s income was ₹470 and the profit was ₹220. One expense was ₹70 (paper cups). How much was the other expense, for sugar (in ₹)?
34. 34.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) buying lemons (d) payment for a cake order
35. 35.📒 Income or expense: paying the stall fee? (a) expense (b) income
36. 36.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) a card order paid (d) buying lemons
37. 37.➖ Profit in your records = (a) just the income (b) income + expenses (c) income − expenses (d) expenses − income
38. 38.Vihaan’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹90 (transport)
    Expense: ₹30 (ribbon)
    How much is the loss (in ₹)?
39. 39.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
40. 40.📒 Income or expense: printing posters? (a) income (b) expense

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