Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 55 · 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.Saanvi’s stall took in ₹240 on Friday, ₹90 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
2. 2.Which of these is income (money in)? (a) buying lemons (b) tutoring fees received (c) bus fare to the market (d) paying the stall fee
3. 3.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) money from sales (d) paying the stall fee
4. 4.Aarav’s income was ₹240 and the profit was ₹130. One expense was ₹70 (paper cups). How much was the other expense, for stall fee (in ₹)?
5. 5.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) cash from selling plants (d) bus fare to the market
6. 6.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) just the income (d) expenses − income
7. 7.📒 Income or expense: cash from selling plants? (a) expense (b) income
8. 8.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) a selfie (d) only the bag
9. 9.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
10. 10.Diya’s stall took in ₹260 on Friday, ₹380 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
11. 11.📒 Income or expense: paying the stall fee? (a) expense (b) income
12. 12.Ishaan’s stall took in ₹90 on Friday, ₹210 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
13. 13.Tara’s income was ₹220 and the profit was ₹160. One expense was ₹50 (stall fee). How much was the other expense, for transport (in ₹)?
14. 14.📒 Income or expense: tutoring fees received? (a) income (b) expense
15. 15.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) money from sales (d) printing posters
16. 16.Tara’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹90 (card paper)
    Expense: ₹120 (posters)
    What is the profit (in ₹)?
17. 17.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
18. 18.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
19. 19.True or false: “cash from selling plants” is income (money in). (a) False (b) True
20. 20.Arjun’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹120 (lemons)
    Expense: ₹20 (stall fee)
    What is the profit (in ₹)?
21. 21.Meera’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹140 (posters)
    Expense: ₹10 (lemons)
    How much is the loss (in ₹)?
22. 22.Joseph’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹60 (posters)
    Expense: ₹320 (card paper)
    How much is the loss (in ₹)?
23. 23.True or false: “payment for a cake order” is income (money in). (a) True (b) False
24. 24.Gurpreet’s income was ₹120 and the profit was ₹30. One expense was ₹80 (sugar). How much was the other expense, for paper cups (in ₹)?
25. 25.True or false: “a card order paid” is income (money in). (a) True (b) False
26. 26.Gurpreet’s income was ₹270 and the profit was ₹180. One expense was ₹80 (stall fee). How much was the other expense, for transport (in ₹)?
27. 27.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
28. 28.True or false: “money from sales” is an expense (money out). (a) True (b) False
29. 29.Kavya’s income was ₹220 and the profit was ₹30. One expense was ₹150 (ribbon). How much was the other expense, for sugar (in ₹)?
30. 30.Diya’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹60 (stall fee)
    Expense: ₹190 (transport)
    What is the profit (in ₹)?
31. 31.True or false: “printing posters” is an expense (money out). (a) True (b) False
32. 32.Vihaan’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹200 (posters)
    Expense: ₹170 (ribbon)
    What is the profit (in ₹)?
33. 33.Kabir’s stall took in ₹320 on Friday, ₹360 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
34. 34.Riya’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹70 (lemons)
    Expense: ₹100 (paper cups)
    How much is the loss (in ₹)?
35. 35.Saanvi’s stall took in ₹370 on Friday, ₹200 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
36. 36.📒 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
37. 37.True or false: “money from sales” is income (money in). (a) True (b) False
38. 38.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) cash from selling plants (d) bus fare to the market
39. 39.📒 Income or expense: a card order paid? (a) expense (b) income
40. 40.Meera’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹70 (ribbon)
    Expense: ₹140 (paper cups)
    What is the profit (in ₹)?

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