Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 452 · 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 ₹220 on Friday, ₹170 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
2. 2.📒 Income or expense: payment for a cake order? (a) expense (b) income
3. 3.📒 Income or expense: a card order paid? (a) expense (b) income
4. 4.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) a selfie (d) nothing
5. 5.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) paying the stall fee (d) cash from selling plants
6. 6.True or false: “paying the stall fee” is income (money in). (a) True (b) False
7. 7.📒 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
8. 8.True or false: “buying paper cups” is income (money in). (a) False (b) True
9. 9.Meera’s record for the day:
   Income: ₹40 (morning sales)
   Income: ₹360 (evening sales)
   Expense: ₹170 (sugar)
   Expense: ₹120 (stall fee)
   What is the profit (in ₹)?
10. 10.Diya’s stall took in ₹290 on Friday, ₹280 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
11. 11.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
12. 12.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) expenses − income (d) just the income
13. 13.Meera’s stall took in ₹50 on Friday, ₹70 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
14. 14.Which of these is income (money in)? (a) buying lemons (b) tutoring fees received (c) paying the stall fee (d) printing posters
15. 15.True or false: “bus fare to the market” is income (money in). (a) False (b) True
16. 16.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) buying paper cups (d) tutoring fees received
17. 17.📒 Income or expense: paying the stall fee? (a) income (b) expense
18. 18.📒 Income or expense: bus fare to the market? (a) income (b) expense
19. 19.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
20. 20.Kabir’s income was ₹180 and the profit was ₹70. One expense was ₹70 (ribbon). How much was the other expense, for stall fee (in ₹)?
21. 21.Meera’s income was ₹450 and the profit was ₹30. One expense was ₹380 (posters). How much was the other expense, for paper cups (in ₹)?
22. 22.📒 Income or expense: buying paper cups? (a) income (b) expense
23. 23.Arjun’s income was ₹320 and the profit was ₹230. One expense was ₹60 (ribbon). How much was the other expense, for transport (in ₹)?
24. 24.Ishaan’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹100 (lemons)
    Expense: ₹200 (sugar)
    How much is the loss (in ₹)?
25. 25.Joseph’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹250 (transport)
    Expense: ₹20 (sugar)
    How much is the loss (in ₹)?
26. 26.Dev’s stall took in ₹120 on Friday, ₹220 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
27. 27.Rohan’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹110 (posters)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?
28. 28.True or false: “cash from selling plants” is income (money in). (a) False (b) True
29. 29.Aarav’s stall took in ₹180 on Friday, ₹120 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
30. 30.Gurpreet’s stall took in ₹380 on Friday, ₹220 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
31. 31.True or false: “tutoring fees received” is income (money in). (a) False (b) True
32. 32.True or false: “printing posters” is income (money in). (a) False (b) True
33. 33.Ananya’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹90 (posters)
    What is the profit (in ₹)?
34. 34.Saanvi’s stall took in ₹290 on Friday, ₹60 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
35. 35.📒 Income or expense: printing posters? (a) income (b) expense
36. 36.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) once a year (d) never
37. 37.Kabir’s income was ₹100 and the profit was ₹60. One expense was ₹30 (stall fee). How much was the other expense, for posters (in ₹)?
38. 38.Ananya’s stall took in ₹320 on Friday, ₹130 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
39. 39.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) printing posters (d) tutoring fees received
40. 40.Diya’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹20 (paper cups)
    Expense: ₹20 (sugar)
    What is the profit (in ₹)?

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