Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 411 · 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.Ishaan’s stall took in ₹400 on Friday, ₹310 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
2. 2.Kavya’s stall took in ₹150 on Friday, ₹240 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
3. 3.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) expenses − income (d) just the income
4. 4.True or false: “money from sales” is an expense (money out). (a) True (b) False
5. 5.Aarav’s income was ₹370 and the profit was ₹210. One expense was ₹130 (ribbon). How much was the other expense, for sugar (in ₹)?
6. 6.True or false: “buying paper cups” is income (money in). (a) True (b) False
7. 7.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) printing posters (d) money from sales
8. 8.📒 Income or expense: a card order paid? (a) income (b) expense
9. 9.Kabir’s income was ₹130 and the profit was ₹70. One expense was ₹20 (sugar). How much was the other expense, for paper cups (in ₹)?
10. 10.Joseph’s income was ₹460 and the profit was ₹30. One expense was ₹260 (lemons). How much was the other expense, for paper cups (in ₹)?
11. 11.Ishaan’s stall took in ₹190 on Friday, ₹340 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
12. 12.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
13. 13.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
14. 14.📒 Income or expense: buying lemons? (a) income (b) expense
15. 15.Riya’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹30 (stall fee)
    Expense: ₹130 (lemons)
    How much is the loss (in ₹)?
16. 16.True or false: “paying the stall fee” is income (money in). (a) True (b) False
17. 17.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) buying paper cups (d) cash from selling plants
18. 18.Ananya’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹60 (sugar)
    Expense: ₹80 (posters)
    How much is the loss (in ₹)?
19. 19.📒 Income or expense: money from sales? (a) income (b) expense
20. 20.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
21. 21.True or false: “printing posters” is an expense (money out). (a) True (b) False
22. 22.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) buying lemons (d) a card order paid
23. 23.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) nothing (d) only the bag
24. 24.📒 Income or expense: tutoring fees received? (a) expense (b) income
25. 25.Saanvi’s record for the day:
    Income: ₹390 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹120 (lemons)
    Expense: ₹200 (paper cups)
    What is the profit (in ₹)?
26. 26.Aarav’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹10 (ribbon)
    Expense: ₹140 (card paper)
    How much is the loss (in ₹)?
27. 27.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to look busy (d) to know the real profit
28. 28.Ananya’s stall took in ₹80 on Friday, ₹320 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
29. 29.Diya’s income was ₹140 and the profit was ₹110. One expense was ₹10 (paper cups). How much was the other expense, for transport (in ₹)?
30. 30.Meera’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹120 (lemons)
    Expense: ₹40 (transport)
    What is the profit (in ₹)?
31. 31.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) payment for a cake order (d) bus fare to the market
32. 32.Ishaan’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹120 (transport)
    Expense: ₹10 (card paper)
    How much is the loss (in ₹)?
33. 33.Riya’s stall took in ₹90 on Friday, ₹50 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
34. 34.True or false: “tutoring fees received” is income (money in). (a) True (b) False
35. 35.📅 When is the best time to update your records? (a) once a year (b) never (c) the same day (d) whenever you like
36. 36.Farhan’s record for the day:
    Income: ₹400 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹200 (ribbon)
    Expense: ₹150 (lemons)
    What is the profit (in ₹)?
37. 37.Meera’s income was ₹130 and the profit was ₹30. One expense was ₹40 (lemons). How much was the other expense, for posters (in ₹)?
38. 38.Saanvi’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹170 (lemons)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
39. 39.True or false: “a card order paid” is income (money in). (a) False (b) True
40. 40.📒 Income or expense: printing posters? (a) expense (b) income

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