Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 496 · 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.Farhan’s stall took in ₹300 on Friday, ₹140 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
2. 2.📒 Income or expense: cash from selling plants? (a) income (b) expense
3. 3.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) paying the stall fee (d) money from sales
4. 4.📒 Income or expense: printing posters? (a) income (b) expense
5. 5.Ishaan’s stall took in ₹240 on Friday, ₹240 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
6. 6.➖ Profit in your records = (a) expenses − income (b) just the income (c) income + expenses (d) income − expenses
7. 7.📒 Income or expense: money from sales? (a) income (b) expense
8. 8.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) the bill or receipt (d) only the bag
9. 9.Diya’s record for a rainy day:
   Income: ₹160 (sales)
   Expense: ₹50 (transport)
   Expense: ₹160 (posters)
   How much is the loss (in ₹)?
10. 10.📒 Income or expense: bus fare to the market? (a) expense (b) income
11. 11.📒 Income or expense: tutoring fees received? (a) income (b) expense
12. 12.Joseph’s income was ₹120 and the profit was ₹50. One expense was ₹60 (transport). How much was the other expense, for posters (in ₹)?
13. 13.Riya’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹40 (paper cups)
    Expense: ₹80 (lemons)
    How much is the loss (in ₹)?
14. 14.Vihaan’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹160 (stall fee)
    Expense: ₹70 (paper cups)
    What is the profit (in ₹)?
15. 15.True or false: “buying lemons” is income (money in). (a) True (b) False
16. 16.Kabir’s income was ₹120 and the profit was ₹90. One expense was ₹10 (sugar). How much was the other expense, for lemons (in ₹)?
17. 17.Kabir’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹200 (posters)
    Expense: ₹60 (lemons)
    How much is the loss (in ₹)?
18. 18.Diya’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹120 (paper cups)
    Expense: ₹170 (ribbon)
    What is the profit (in ₹)?
19. 19.Dev’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹130 (card paper)
    Expense: ₹210 (sugar)
    How much is the loss (in ₹)?
20. 20.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) no reason (d) to know the real profit
21. 21.Joseph’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹60 (stall fee)
    Expense: ₹110 (lemons)
    What is the profit (in ₹)?
22. 22.Which of these is an expense (money out)? (a) bus fare to the market (b) tutoring fees received (c) payment for a cake order (d) money from sales
23. 23.Lakshmi’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹70 (posters)
    Expense: ₹80 (lemons)
    What is the profit (in ₹)?
24. 24.Kabir’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹70 (posters)
    Expense: ₹30 (card paper)
    What is the profit (in ₹)?
25. 25.📅 When is the best time to update your records? (a) never (b) the same day (c) whenever you like (d) once a year
26. 26.True or false: “buying paper cups” is income (money in). (a) True (b) False
27. 27.Rohan’s income was ₹290 and the profit was ₹260. One expense was ₹10 (card paper). How much was the other expense, for sugar (in ₹)?
28. 28.📒 Income or expense: payment for a cake order? (a) expense (b) income
29. 29.Ishaan’s stall took in ₹90 on Friday, ₹130 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
30. 30.Lakshmi’s income was ₹500 and the profit was ₹480. One expense was ₹10 (transport). How much was the other expense, for card paper (in ₹)?
31. 31.📒 Income or expense: buying lemons? (a) expense (b) income
32. 32.Diya’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹120 (card paper)
    Expense: ₹180 (stall fee)
    How much is the loss (in ₹)?
33. 33.Ananya’s record for the day:
    Income: ₹390 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹40 (paper cups)
    Expense: ₹140 (transport)
    What is the profit (in ₹)?
34. 34.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) payment for a cake order (d) printing posters
35. 35.Rohan’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹40 (lemons)
    Expense: ₹100 (ribbon)
    What is the profit (in ₹)?
36. 36.Lakshmi’s income was ₹430 and the profit was ₹180. One expense was ₹200 (transport). How much was the other expense, for ribbon (in ₹)?
37. 37.True or false: “a card order paid” is income (money in). (a) False (b) True
38. 38.Dev’s stall took in ₹170 on Friday, ₹140 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
39. 39.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) bus fare to the market (d) cash from selling plants
40. 40.📒 Income or expense: buying paper cups? (a) expense (b) income

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