Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 514 · 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.Tara’s stall took in ₹140 on Friday, ₹130 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
2. 2.📅 When is the best time to update your records? (a) the same day (b) once a year (c) whenever you like (d) never
3. 3.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) income + expenses (d) just the income
4. 4.📒 Income or expense: a card order paid? (a) income (b) expense
5. 5.📒 Income or expense: bus fare to the market? (a) expense (b) income
6. 6.Which of these is income (money in)? (a) paying the stall fee (b) a card order paid (c) buying lemons (d) buying paper cups
7. 7.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
8. 8.📒 Income or expense: cash from selling plants? (a) income (b) expense
9. 9.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) bus fare to the market (d) payment for a cake order
10. 10.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) printing posters (d) cash from selling plants
11. 11.Rohan’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹160 (stall fee)
    Expense: ₹80 (lemons)
    What is the profit (in ₹)?
12. 12.📒 Income or expense: buying paper cups? (a) expense (b) income
13. 13.Saanvi’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹60 (posters)
    Expense: ₹110 (lemons)
    How much is the loss (in ₹)?
14. 14.Rohan’s stall took in ₹220 on Friday, ₹100 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
15. 15.Arjun’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹180 (transport)
    Expense: ₹150 (stall fee)
    What is the profit (in ₹)?
16. 16.Ishaan’s income was ₹400 and the profit was ₹120. One expense was ₹260 (card paper). How much was the other expense, for transport (in ₹)?
17. 17.📒 Income or expense: money from sales? (a) income (b) expense
18. 18.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) tutoring fees received (d) paying the stall fee
19. 19.Saanvi’s stall took in ₹190 on Friday, ₹320 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
20. 20.📒 Income or expense: printing posters? (a) income (b) expense
21. 21.Which of these is an expense (money out)? (a) money from sales (b) buying lemons (c) a card order paid (d) cash from selling plants
22. 22.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) no reason (d) to look busy
23. 23.Arjun’s income was ₹160 and the profit was ₹20. One expense was ₹60 (transport). How much was the other expense, for posters (in ₹)?
24. 24.Gurpreet’s income was ₹380 and the profit was ₹110. One expense was ₹50 (ribbon). How much was the other expense, for lemons (in ₹)?
25. 25.True or false: “payment for a cake order” is income (money in). (a) True (b) False
26. 26.True or false: “paying the stall fee” is income (money in). (a) True (b) False
27. 27.Ananya’s income was ₹310 and the profit was ₹140. One expense was ₹10 (lemons). How much was the other expense, for stall fee (in ₹)?
28. 28.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) the bill or receipt (d) nothing
29. 29.Ananya’s income was ₹280 and the profit was ₹160. One expense was ₹60 (paper cups). How much was the other expense, for sugar (in ₹)?
30. 30.True or false: “buying lemons” is an expense (money out). (a) True (b) False
31. 31.📒 Income or expense: payment for a cake order? (a) income (b) expense
32. 32.Ananya’s stall took in ₹90 on Friday, ₹120 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
33. 33.Tara’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹40 (card paper)
    Expense: ₹190 (lemons)
    What is the profit (in ₹)?
34. 34.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) buying lemons (d) money from sales
35. 35.Zoya’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹70 (posters)
    Expense: ₹90 (sugar)
    What is the profit (in ₹)?
36. 36.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
37. 37.Rohan’s income was ₹160 and the profit was ₹120. One expense was ₹10 (transport). How much was the other expense, for posters (in ₹)?
38. 38.Dev’s income was ₹100 and the profit was ₹20. One expense was ₹30 (transport). How much was the other expense, for sugar (in ₹)?
39. 39.Riya’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹200 (lemons)
    Expense: ₹30 (posters)
    What is the profit (in ₹)?
40. 40.Ananya’s stall took in ₹240 on Friday, ₹220 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?

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