Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 544 · 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.Joseph’s stall took in ₹340 on Friday, ₹120 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
2. 2.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) tutoring fees received (d) paying the stall fee
3. 3.Ananya’s record for the day:
   Income: ₹300 (morning sales)
   Income: ₹40 (evening sales)
   Expense: ₹70 (transport)
   Expense: ₹60 (sugar)
   What is the profit (in ₹)?
4. 4.True or false: “tutoring fees received” is income (money in). (a) False (b) True
5. 5.Nisha’s record for the day:
   Income: ₹20 (morning sales)
   Income: ₹100 (evening sales)
   Expense: ₹30 (card paper)
   Expense: ₹20 (transport)
   What is the profit (in ₹)?
6. 6.Which of these is income (money in)? (a) cash from selling plants (b) bus fare to the market (c) printing posters (d) buying lemons
7. 7.Meera’s record for the day:
   Income: ₹120 (morning sales)
   Income: ₹90 (evening sales)
   Expense: ₹60 (stall fee)
   Expense: ₹110 (sugar)
   What is the profit (in ₹)?
8. 8.True or false: “buying paper cups” is income (money in). (a) True (b) False
9. 9.📒 Income or expense: cash from selling plants? (a) income (b) expense
10. 10.Gurpreet’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹120 (stall fee)
    Expense: ₹90 (ribbon)
    How much is the loss (in ₹)?
11. 11.📒 Income or expense: paying the stall fee? (a) expense (b) income
12. 12.Joseph’s stall took in ₹170 on Friday, ₹300 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
13. 13.True or false: “money from sales” is income (money in). (a) True (b) False
14. 14.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
15. 15.True or false: “paying the stall fee” is income (money in). (a) False (b) True
16. 16.Arjun’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹130 (ribbon)
    Expense: ₹170 (card paper)
    How much is the loss (in ₹)?
17. 17.📒 Income or expense: payment for a cake order? (a) expense (b) income
18. 18.📒 Income or expense: bus fare to the market? (a) income (b) expense
19. 19.📒 Income or expense: buying paper cups? (a) income (b) expense
20. 20.Gurpreet’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹100 (sugar)
    What is the profit (in ₹)?
21. 21.📒 Income or expense: money from sales? (a) expense (b) income
22. 22.📒 Income or expense: buying lemons? (a) income (b) expense
23. 23.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) cash from selling plants (d) printing posters
24. 24.Aarav’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹20 (ribbon)
    Expense: ₹200 (transport)
    What is the profit (in ₹)?
25. 25.Ananya’s income was ₹440 and the profit was ₹100. One expense was ₹10 (stall fee). How much was the other expense, for transport (in ₹)?
26. 26.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
27. 27.Ishaan’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹50 (ribbon)
    Expense: ₹110 (paper cups)
    What is the profit (in ₹)?
28. 28.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
29. 29.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) bus fare to the market (d) payment for a cake order
30. 30.Dev’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹150 (posters)
    Expense: ₹100 (paper cups)
    How much is the loss (in ₹)?
31. 31.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) to know the real profit (d) no reason
32. 32.Ananya’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹50 (stall fee)
    Expense: ₹280 (posters)
    How much is the loss (in ₹)?
33. 33.Kabir’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹70 (transport)
    Expense: ₹70 (sugar)
    What is the profit (in ₹)?
34. 34.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) paying the stall fee (d) a card order paid
35. 35.📒 Income or expense: printing posters? (a) income (b) expense
36. 36.Which of these is income (money in)? (a) a card order paid (b) printing posters (c) paying the stall fee (d) buying paper cups
37. 37.Zoya’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹40 (posters)
    Expense: ₹50 (lemons)
    What is the profit (in ₹)?
38. 38.📒 Income or expense: a card order paid? (a) income (b) expense
39. 39.Ananya’s income was ₹130 and the profit was ₹80. One expense was ₹10 (sugar). How much was the other expense, for card paper (in ₹)?
40. 40.Rohan’s income was ₹500 and the profit was ₹40. One expense was ₹90 (sugar). How much was the other expense, for card paper (in ₹)?

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