Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 623 · 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 ₹320 on Friday, ₹320 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
2. 2.Ishaan’s record for the day:
   Income: ₹380 (morning sales)
   Income: ₹80 (evening sales)
   Expense: ₹110 (posters)
   Expense: ₹130 (card paper)
   What is the profit (in ₹)?
3. 3.📒 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
4. 4.Tara’s record for a rainy day:
   Income: ₹260 (sales)
   Expense: ₹70 (transport)
   Expense: ₹230 (ribbon)
   How much is the loss (in ₹)?
5. 5.📒 Income or expense: tutoring fees received? (a) income (b) expense
6. 6.Which of these is income (money in)? (a) a card order paid (b) paying the stall fee (c) buying lemons (d) buying paper cups
7. 7.Rohan’s stall took in ₹50 on Friday, ₹400 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
8. 8.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
9. 9.📒 Income or expense: money from sales? (a) income (b) expense
10. 10.➖ Profit in your records = (a) just the income (b) income + expenses (c) expenses − income (d) income − expenses
11. 11.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) never (d) once a year
12. 12.📒 Income or expense: a card order paid? (a) expense (b) income
13. 13.📒 Income or expense: cash from selling plants? (a) expense (b) income
14. 14.📒 Income or expense: buying lemons? (a) expense (b) income
15. 15.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) a card order paid (d) buying paper cups
16. 16.Meera’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹30 (paper cups)
    Expense: ₹90 (lemons)
    What is the profit (in ₹)?
17. 17.Meera’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹50 (ribbon)
    Expense: ₹120 (card paper)
    What is the profit (in ₹)?
18. 18.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) buying paper cups (d) money from sales
19. 19.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
20. 20.Joseph’s income was ₹290 and the profit was ₹200. One expense was ₹50 (lemons). How much was the other expense, for transport (in ₹)?
21. 21.Rohan’s stall took in ₹190 on Friday, ₹270 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
22. 22.Which of these is an expense (money out)? (a) bus fare to the market (b) tutoring fees received (c) money from sales (d) cash from selling plants
23. 23.Ananya’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹100 (paper cups)
    Expense: ₹90 (transport)
    What is the profit (in ₹)?
24. 24.Farhan’s income was ₹270 and the profit was ₹110. One expense was ₹90 (card paper). How much was the other expense, for stall fee (in ₹)?
25. 25.Diya’s income was ₹410 and the profit was ₹150. One expense was ₹240 (posters). How much was the other expense, for transport (in ₹)?
26. 26.Rohan’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹230 (ribbon)
    Expense: ₹70 (posters)
    How much is the loss (in ₹)?
27. 27.📒 Income or expense: bus fare to the market? (a) income (b) expense
28. 28.Aarav’s income was ₹310 and the profit was ₹200. One expense was ₹90 (paper cups). How much was the other expense, for posters (in ₹)?
29. 29.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) tutoring fees received (d) buying lemons
30. 30.Kabir’s stall took in ₹60 on Friday, ₹370 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
31. 31.Joseph’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹40 (lemons)
    Expense: ₹160 (stall fee)
    What is the profit (in ₹)?
32. 32.Meera’s income was ₹200 and the profit was ₹50. One expense was ₹140 (ribbon). How much was the other expense, for transport (in ₹)?
33. 33.Ishaan’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹50 (lemons)
    Expense: ₹60 (posters)
    How much is the loss (in ₹)?
34. 34.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
35. 35.Diya’s income was ₹220 and the profit was ₹130. One expense was ₹10 (lemons). How much was the other expense, for sugar (in ₹)?
36. 36.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) the bill or receipt (d) only the bag
37. 37.Ishaan’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹180 (posters)
    Expense: ₹60 (lemons)
    What is the profit (in ₹)?
38. 38.Which of these is income (money in)? (a) payment for a cake order (b) buying paper cups (c) buying lemons (d) paying the stall fee
39. 39.Kabir’s stall took in ₹110 on Friday, ₹220 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
40. 40.Diya’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹30 (stall fee)
    Expense: ₹150 (paper cups)
    What is the profit (in ₹)?

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