Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 474 · 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.Aarav’s stall took in ₹290 on Friday, ₹210 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
2. 2.Saanvi’s record for the day:
   Income: ₹40 (morning sales)
   Income: ₹300 (evening sales)
   Expense: ₹20 (card paper)
   Expense: ₹110 (stall fee)
   What is the profit (in ₹)?
3. 3.Zoya’s record for the day:
   Income: ₹180 (morning sales)
   Income: ₹80 (evening sales)
   Expense: ₹110 (stall fee)
   Expense: ₹80 (paper cups)
   What is the profit (in ₹)?
4. 4.True or false: “paying the stall fee” is income (money in). (a) True (b) False
5. 5.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) buying lemons (d) tutoring fees received
6. 6.📒 Income or expense: a card order paid? (a) expense (b) income
7. 7.📒 Income or expense: tutoring fees received? (a) expense (b) income
8. 8.True or false: “buying lemons” is income (money in). (a) True (b) False
9. 9.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) printing posters (d) money from sales
10. 10.Farhan’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹140 (paper cups)
    Expense: ₹20 (posters)
    What is the profit (in ₹)?
11. 11.Dev’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹140 (stall fee)
    Expense: ₹60 (posters)
    What is the profit (in ₹)?
12. 12.Riya’s record for the day:
    Income: ₹400 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹140 (posters)
    Expense: ₹140 (lemons)
    What is the profit (in ₹)?
13. 13.Gurpreet’s income was ₹140 and the profit was ₹40. One expense was ₹80 (ribbon). How much was the other expense, for transport (in ₹)?
14. 14.📒 Income or expense: payment for a cake order? (a) expense (b) income
15. 15.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) to know the real profit (d) no reason
16. 16.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
17. 17.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) nothing (d) the bill or receipt
18. 18.Tara’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹300 (paper cups)
    Expense: ₹50 (stall fee)
    How much is the loss (in ₹)?
19. 19.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) a card order paid (d) buying paper cups
20. 20.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) printing posters (d) cash from selling plants
21. 21.Meera’s income was ₹340 and the profit was ₹320. One expense was ₹10 (stall fee). How much was the other expense, for lemons (in ₹)?
22. 22.Gurpreet’s record for the day:
    Income: ₹460 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹120 (ribbon)
    Expense: ₹110 (transport)
    What is the profit (in ₹)?
23. 23.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) a card order paid (d) bus fare to the market
24. 24.Ishaan’s income was ₹330 and the profit was ₹270. One expense was ₹40 (card paper). How much was the other expense, for ribbon (in ₹)?
25. 25.Farhan’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹150 (stall fee)
    Expense: ₹130 (paper cups)
    What is the profit (in ₹)?
26. 26.Meera’s income was ₹480 and the profit was ₹380. One expense was ₹70 (sugar). How much was the other expense, for transport (in ₹)?
27. 27.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
28. 28.Arjun’s stall took in ₹150 on Friday, ₹260 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
29. 29.Joseph’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹150 (sugar)
    Expense: ₹200 (paper cups)
    What is the profit (in ₹)?
30. 30.Zoya’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹70 (stall fee)
    Expense: ₹160 (paper cups)
    How much is the loss (in ₹)?
31. 31.Gurpreet’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹170 (transport)
    Expense: ₹100 (lemons)
    How much is the loss (in ₹)?
32. 32.Kavya’s income was ₹410 and the profit was ₹220. One expense was ₹70 (stall fee). How much was the other expense, for sugar (in ₹)?
33. 33.Aarav’s stall took in ₹260 on Friday, ₹150 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
34. 34.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
35. 35.Gurpreet’s stall took in ₹200 on Friday, ₹130 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
36. 36.Ananya’s record for the day:
    Income: ₹420 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹200 (sugar)
    Expense: ₹40 (paper cups)
    What is the profit (in ₹)?
37. 37.Which of these is income (money in)? (a) payment for a cake order (b) printing posters (c) paying the stall fee (d) buying paper cups
38. 38.Joseph’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹120 (lemons)
    Expense: ₹190 (ribbon)
    How much is the loss (in ₹)?
39. 39.Gurpreet’s income was ₹310 and the profit was ₹260. One expense was ₹30 (sugar). How much was the other expense, for lemons (in ₹)?
40. 40.📒 Income or expense: money from sales? (a) expense (b) income

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