Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 374 · 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 stall took in ₹330 on Friday, ₹140 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
2. 2.📒 Income or expense: money from sales? (a) income (b) expense
3. 3.📒 Income or expense: printing posters? (a) income (b) expense
4. 4.Zoya’s record for the day:
   Income: ₹220 (morning sales)
   Income: ₹170 (evening sales)
   Expense: ₹190 (stall fee)
   Expense: ₹70 (paper cups)
   What is the profit (in ₹)?
5. 5.Riya’s record for the day:
   Income: ₹110 (morning sales)
   Income: ₹80 (evening sales)
   Expense: ₹60 (card paper)
   Expense: ₹120 (sugar)
   What is the profit (in ₹)?
6. 6.Kavya’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹280 (evening sales)
   Expense: ₹30 (transport)
   Expense: ₹30 (lemons)
   What is the profit (in ₹)?
7. 7.True or false: “buying lemons” is income (money in). (a) True (b) False
8. 8.Meera’s record for a rainy day:
   Income: ₹180 (sales)
   Expense: ₹70 (ribbon)
   Expense: ₹160 (lemons)
   How much is the loss (in ₹)?
9. 9.📒 Income or expense: payment for a cake order? (a) expense (b) income
10. 10.Saanvi’s income was ₹340 and the profit was ₹120. One expense was ₹90 (stall fee). How much was the other expense, for posters (in ₹)?
11. 11.True or false: “money from sales” is an expense (money out). (a) True (b) False
12. 12.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) money from sales (d) buying lemons
13. 13.Nisha’s record for the day:
    Income: ₹490 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹200 (lemons)
    Expense: ₹160 (stall fee)
    What is the profit (in ₹)?
14. 14.True or false: “cash from selling plants” is income (money in). (a) True (b) False
15. 15.Nisha’s stall took in ₹200 on Friday, ₹130 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
16. 16.True or false: “tutoring fees received” is income (money in). (a) True (b) False
17. 17.Riya’s income was ₹170 and the profit was ₹90. One expense was ₹20 (ribbon). How much was the other expense, for lemons (in ₹)?
18. 18.Lakshmi’s stall took in ₹70 on Friday, ₹160 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
19. 19.Saanvi’s income was ₹280 and the profit was ₹40. One expense was ₹70 (lemons). How much was the other expense, for transport (in ₹)?
20. 20.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
21. 21.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) never (d) once a year
22. 22.Which of these is income (money in)? (a) buying lemons (b) tutoring fees received (c) printing posters (d) buying paper cups
23. 23.Nisha’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹100 (sugar)
    Expense: ₹40 (paper cups)
    How much is the loss (in ₹)?
24. 24.Nisha’s income was ₹140 and the profit was ₹30. One expense was ₹90 (stall fee). How much was the other expense, for card paper (in ₹)?
25. 25.Arjun’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹200 (lemons)
    Expense: ₹30 (card paper)
    How much is the loss (in ₹)?
26. 26.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to look busy (d) to fill a notebook
27. 27.Which of these is income (money in)? (a) paying the stall fee (b) cash from selling plants (c) printing posters (d) buying lemons
28. 28.📒 Income or expense: paying the stall fee? (a) expense (b) income
29. 29.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) payment for a cake order (d) buying paper cups
30. 30.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) buying lemons (d) money from sales
31. 31.Kavya’s stall took in ₹200 on Friday, ₹140 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
32. 32.Nisha’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹180 (stall fee)
    Expense: ₹30 (paper cups)
    How much is the loss (in ₹)?
33. 33.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
34. 34.Lakshmi’s stall took in ₹250 on Friday, ₹160 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
35. 35.Saanvi’s income was ₹380 and the profit was ₹360. One expense was ₹10 (card paper). How much was the other expense, for ribbon (in ₹)?
36. 36.Rohan’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹50 (card paper)
    Expense: ₹210 (posters)
    How much is the loss (in ₹)?
37. 37.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) tutoring fees received (d) bus fare to the market
38. 38.📒 Income or expense: bus fare to the market? (a) expense (b) income
39. 39.Ishaan’s income was ₹380 and the profit was ₹190. One expense was ₹100 (card paper). How much was the other expense, for stall fee (in ₹)?
40. 40.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True

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