Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 440 · 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.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
2. 2.Nisha’s stall took in ₹220 on Friday, ₹320 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
3. 3.Riya’s stall took in ₹230 on Friday, ₹120 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
4. 4.Which of these is income (money in)? (a) bus fare to the market (b) a card order paid (c) paying the stall fee (d) buying paper cups
5. 5.📒 Income or expense: payment for a cake order? (a) income (b) expense
6. 6.📒 Income or expense: money from sales? (a) income (b) expense
7. 7.Riya’s record for the day:
   Income: ₹290 (morning sales)
   Income: ₹70 (evening sales)
   Expense: ₹100 (stall fee)
   Expense: ₹20 (sugar)
   What is the profit (in ₹)?
8. 8.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) cash from selling plants (d) bus fare to the market
9. 9.📒 Income or expense: bus fare to the market? (a) expense (b) income
10. 10.📒 Income or expense: tutoring fees received? (a) income (b) expense
11. 11.True or false: “buying paper cups” is income (money in). (a) True (b) False
12. 12.True or false: “a card order paid” is an expense (money out). (a) True (b) False
13. 13.📒 Income or expense: printing posters? (a) income (b) expense
14. 14.Vihaan’s stall took in ₹220 on Friday, ₹190 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
15. 15.Riya’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹160 (lemons)
    Expense: ₹50 (sugar)
    How much is the loss (in ₹)?
16. 16.True or false: “money from sales” is income (money in). (a) False (b) True
17. 17.📒 Income or expense: buying paper cups? (a) expense (b) income
18. 18.Rohan’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹70 (transport)
    Expense: ₹50 (stall fee)
    How much is the loss (in ₹)?
19. 19.Arjun’s stall took in ₹340 on Friday, ₹110 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
20. 20.Zoya’s income was ₹120 and the profit was ₹80. One expense was ₹20 (paper cups). How much was the other expense, for sugar (in ₹)?
21. 21.Vihaan’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹80 (paper cups)
    Expense: ₹180 (posters)
    How much is the loss (in ₹)?
22. 22.Which of these is an expense (money out)? (a) paying the stall fee (b) tutoring fees received (c) money from sales (d) a card order paid
23. 23.Gurpreet’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹30 (ribbon)
    Expense: ₹130 (posters)
    How much is the loss (in ₹)?
24. 24.Gurpreet’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹140 (lemons)
    Expense: ₹70 (posters)
    What is the profit (in ₹)?
25. 25.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) printing posters (d) money from sales
26. 26.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
27. 27.Meera’s stall took in ₹190 on Friday, ₹150 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
28. 28.Vihaan’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹10 (sugar)
    Expense: ₹110 (card paper)
    How much is the loss (in ₹)?
29. 29.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) no reason (d) to look busy
30. 30.Kavya’s income was ₹450 and the profit was ₹280. One expense was ₹110 (posters). How much was the other expense, for lemons (in ₹)?
31. 31.Tara’s income was ₹100 and the profit was ₹10. One expense was ₹50 (transport). How much was the other expense, for paper cups (in ₹)?
32. 32.Kavya’s stall took in ₹310 on Friday, ₹50 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
33. 33.📒 Income or expense: cash from selling plants? (a) expense (b) income
34. 34.True or false: “paying the stall fee” is income (money in). (a) False (b) True
35. 35.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) cash from selling plants (d) buying lemons
36. 36.True or false: “tutoring fees received” is income (money in). (a) False (b) True
37. 37.Lakshmi’s stall took in ₹280 on Friday, ₹50 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
38. 38.True or false: “a card order paid” is income (money in). (a) False (b) True
39. 39.Gurpreet’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹170 (paper cups)
    Expense: ₹50 (sugar)
    What is the profit (in ₹)?
40. 40.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) money from sales (d) buying lemons

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