Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 605 · 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.Zoya’s income was ₹380 and the profit was ₹200. One expense was ₹30 (card paper). How much was the other expense, for sugar (in ₹)?
2. 2.Ishaan’s stall took in ₹320 on Friday, ₹60 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
3. 3.Joseph’s income was ₹130 and the profit was ₹30. One expense was ₹20 (stall fee). How much was the other expense, for sugar (in ₹)?
4. 4.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
5. 5.True or false: “printing posters” is an expense (money out). (a) False (b) True
6. 6.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) to look busy (d) no reason
7. 7.Which of these is income (money in)? (a) buying lemons (b) a card order paid (c) printing posters (d) bus fare to the market
8. 8.Dev’s income was ₹490 and the profit was ₹200. One expense was ₹110 (lemons). How much was the other expense, for sugar (in ₹)?
9. 9.Ishaan’s stall took in ₹240 on Friday, ₹120 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
10. 10.📒 Income or expense: paying the stall fee? (a) expense (b) income
11. 11.Kabir’s record for the day:
    Income: ₹420 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹80 (lemons)
    Expense: ₹190 (stall fee)
    What is the profit (in ₹)?
12. 12.Zoya’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹170 (posters)
    Expense: ₹60 (transport)
    How much is the loss (in ₹)?
13. 13.📒 Income or expense: tutoring fees received? (a) expense (b) income
14. 14.📒 Income or expense: bus fare to the market? (a) income (b) expense
15. 15.Dev’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹200 (transport)
    Expense: ₹100 (posters)
    What is the profit (in ₹)?
16. 16.Zoya’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹140 (sugar)
    Expense: ₹160 (posters)
    How much is the loss (in ₹)?
17. 17.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) never (d) the same day
18. 18.Tara’s income was ₹200 and the profit was ₹10. One expense was ₹180 (paper cups). How much was the other expense, for posters (in ₹)?
19. 19.Ananya’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹30 (stall fee)
    Expense: ₹80 (paper cups)
    What is the profit (in ₹)?
20. 20.Farhan’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹530 (evening sales)
    Expense: ₹60 (stall fee)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
21. 21.Which of these is income (money in)? (a) tutoring fees received (b) paying the stall fee (c) buying paper cups (d) buying lemons
22. 22.Kavya’s stall took in ₹270 on Friday, ₹70 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
23. 23.Kavya’s income was ₹360 and the profit was ₹90. One expense was ₹100 (lemons). How much was the other expense, for sugar (in ₹)?
24. 24.Dev’s income was ₹330 and the profit was ₹60. One expense was ₹220 (lemons). How much was the other expense, for card paper (in ₹)?
25. 25.Which of these is income (money in)? (a) cash from selling plants (b) paying the stall fee (c) buying paper cups (d) bus fare to the market
26. 26.Dev’s stall took in ₹160 on Friday, ₹120 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
27. 27.Rohan’s stall took in ₹340 on Friday, ₹160 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
28. 28.Rohan’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹200 (paper cups)
    Expense: ₹30 (sugar)
    What is the profit (in ₹)?
29. 29.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) income + expenses (d) just the income
30. 30.Kavya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹40 (sugar)
    What is the profit (in ₹)?
31. 31.📒 Income or expense: payment for a cake order? (a) income (b) expense
32. 32.📒 Income or expense: money from sales? (a) income (b) expense
33. 33.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) payment for a cake order (d) buying lemons
34. 34.Ananya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹90 (card paper)
    Expense: ₹160 (lemons)
    What is the profit (in ₹)?
35. 35.📒 Income or expense: printing posters? (a) income (b) expense
36. 36.Arjun’s stall took in ₹120 on Friday, ₹70 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
37. 37.📒 Income or expense: buying paper cups? (a) income (b) expense
38. 38.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) buying lemons (d) a card order paid
39. 39.Zoya’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹470 (evening sales)
    Expense: ₹80 (transport)
    Expense: ₹190 (ribbon)
    What is the profit (in ₹)?
40. 40.Farhan’s record for the day:
    Income: ₹450 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹190 (stall fee)
    Expense: ₹200 (transport)
    What is the profit (in ₹)?

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