Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 633 · 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.Ishaan’s stall took in ₹400 on Friday, ₹350 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
2. 2.True or false: “bus fare to the market” is income (money in). (a) False (b) True
3. 3.📒 Income or expense: cash from selling plants? (a) income (b) expense
4. 4.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) just the income (d) income + expenses
5. 5.Riya’s stall took in ₹340 on Friday, ₹250 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
6. 6.Meera’s record for the day:
   Income: ₹220 (morning sales)
   Income: ₹270 (evening sales)
   Expense: ₹200 (card paper)
   Expense: ₹70 (sugar)
   What is the profit (in ₹)?
7. 7.Kabir’s record for the day:
   Income: ₹310 (morning sales)
   Income: ₹110 (evening sales)
   Expense: ₹190 (card paper)
   Expense: ₹80 (lemons)
   What is the profit (in ₹)?
8. 8.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) paying the stall fee (d) tutoring fees received
9. 9.Arjun’s record for the day:
   Income: ₹90 (morning sales)
   Income: ₹390 (evening sales)
   Expense: ₹190 (transport)
   Expense: ₹40 (card paper)
   What is the profit (in ₹)?
10. 10.True or false: “printing posters” is income (money in). (a) False (b) True
11. 11.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
12. 12.📒 Income or expense: buying lemons? (a) expense (b) income
13. 13.Lakshmi’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹70 (sugar)
    Expense: ₹20 (stall fee)
    What is the profit (in ₹)?
14. 14.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) buying lemons (d) cash from selling plants
15. 15.Gurpreet’s stall took in ₹80 on Friday, ₹70 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
16. 16.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
17. 17.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
18. 18.Ishaan’s income was ₹140 and the profit was ₹10. One expense was ₹10 (stall fee). How much was the other expense, for ribbon (in ₹)?
19. 19.📒 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
20. 20.Joseph’s income was ₹340 and the profit was ₹220. One expense was ₹70 (sugar). How much was the other expense, for ribbon (in ₹)?
21. 21.Diya’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹120 (posters)
    Expense: ₹140 (lemons)
    What is the profit (in ₹)?
22. 22.Meera’s stall took in ₹250 on Friday, ₹390 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
23. 23.📒 Income or expense: buying paper cups? (a) expense (b) income
24. 24.Farhan’s income was ₹380 and the profit was ₹160. One expense was ₹110 (stall fee). How much was the other expense, for paper cups (in ₹)?
25. 25.Ishaan’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹150 (lemons)
    Expense: ₹160 (transport)
    What is the profit (in ₹)?
26. 26.Aarav’s stall took in ₹250 on Friday, ₹200 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
27. 27.📒 Income or expense: printing posters? (a) expense (b) income
28. 28.📅 When is the best time to update your records? (a) once a year (b) never (c) whenever you like (d) the same day
29. 29.📒 Income or expense: tutoring fees received? (a) expense (b) income
30. 30.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) the bill or receipt (d) nothing
31. 31.Zoya’s income was ₹200 and the profit was ₹50. One expense was ₹130 (stall fee). How much was the other expense, for lemons (in ₹)?
32. 32.Vihaan’s income was ₹440 and the profit was ₹140. One expense was ₹30 (card paper). How much was the other expense, for paper cups (in ₹)?
33. 33.Nisha’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹70 (lemons)
    Expense: ₹180 (sugar)
    How much is the loss (in ₹)?
34. 34.Which of these is income (money in)? (a) money from sales (b) buying paper cups (c) bus fare to the market (d) paying the stall fee
35. 35.Joseph’s stall took in ₹240 on Friday, ₹390 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
36. 36.Zoya’s income was ₹480 and the profit was ₹110. One expense was ₹30 (paper cups). How much was the other expense, for ribbon (in ₹)?
37. 37.Arjun’s income was ₹300 and the profit was ₹260. One expense was ₹30 (stall fee). How much was the other expense, for posters (in ₹)?
38. 38.True or false: “payment for a cake order” is income (money in). (a) True (b) False
39. 39.Joseph’s stall took in ₹360 on Friday, ₹310 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
40. 40.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) a card order paid (d) buying paper cups

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