Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 638 · 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.Arjun’s stall took in ₹50 on Friday, ₹110 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
2. 2.➖ Profit in your records = (a) income − expenses (b) income + expenses (c) just the income (d) expenses − income
3. 3.📒 Income or expense: paying the stall fee? (a) income (b) expense
4. 4.Zoya’s stall took in ₹120 on Friday, ₹300 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
5. 5.📒 Income or expense: bus fare to the market? (a) income (b) expense
6. 6.Saanvi’s stall took in ₹220 on Friday, ₹130 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
7. 7.Kabir’s record for the day:
   Income: ₹180 (morning sales)
   Income: ₹70 (evening sales)
   Expense: ₹190 (card paper)
   Expense: ₹20 (ribbon)
   What is the profit (in ₹)?
8. 8.📒 Income or expense: payment for a cake order? (a) income (b) expense
9. 9.Riya’s income was ₹330 and the profit was ₹280. One expense was ₹10 (stall fee). How much was the other expense, for posters (in ₹)?
10. 10.Rohan’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹70 (ribbon)
    Expense: ₹130 (transport)
    What is the profit (in ₹)?
11. 11.📒 Income or expense: buying lemons? (a) expense (b) income
12. 12.Meera’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹100 (card paper)
    Expense: ₹140 (transport)
    What is the profit (in ₹)?
13. 13.📒 Income or expense: printing posters? (a) expense (b) income
14. 14.Aarav’s stall took in ₹90 on Friday, ₹290 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
15. 15.Which of these is an expense (money out)? (a) tutoring fees received (b) buying lemons (c) money from sales (d) cash from selling plants
16. 16.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) to look busy (d) no reason
17. 17.Rohan’s stall took in ₹130 on Friday, ₹370 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
18. 18.📒 Income or expense: money from sales? (a) expense (b) income
19. 19.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) a selfie (d) nothing
20. 20.Ishaan’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹420 (evening sales)
    Expense: ₹150 (ribbon)
    Expense: ₹180 (lemons)
    What is the profit (in ₹)?
21. 21.Joseph’s stall took in ₹300 on Friday, ₹390 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
22. 22.Ananya’s stall took in ₹280 on Friday, ₹390 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
23. 23.📅 When is the best time to update your records? (a) once a year (b) the same day (c) whenever you like (d) never
24. 24.Dev’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹110 (paper cups)
    Expense: ₹40 (card paper)
    What is the profit (in ₹)?
25. 25.Meera’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹180 (lemons)
    Expense: ₹100 (posters)
    What is the profit (in ₹)?
26. 26.Diya’s income was ₹190 and the profit was ₹30. One expense was ₹70 (card paper). How much was the other expense, for lemons (in ₹)?
27. 27.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) buying lemons (d) a card order paid
28. 28.Tara’s stall took in ₹260 on Friday, ₹380 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
29. 29.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) money from sales (d) buying lemons
30. 30.Aarav’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹150 (card paper)
    Expense: ₹120 (paper cups)
    What is the profit (in ₹)?
31. 31.True or false: “money from sales” is income (money in). (a) True (b) False
32. 32.Diya’s stall took in ₹360 on Friday, ₹200 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
33. 33.True or false: “buying lemons” is income (money in). (a) True (b) False
34. 34.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) paying the stall fee (d) cash from selling plants
35. 35.Kabir’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹160 (paper cups)
    Expense: ₹110 (ribbon)
    What is the profit (in ₹)?
36. 36.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
37. 37.Gurpreet’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹190 (stall fee)
    Expense: ₹200 (lemons)
    What is the profit (in ₹)?
38. 38.Which of these is income (money in)? (a) tutoring fees received (b) paying the stall fee (c) buying lemons (d) printing posters
39. 39.Gurpreet’s stall took in ₹170 on Friday, ₹110 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
40. 40.Kabir’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹80 (card paper)
    Expense: ₹50 (sugar)
    How much is the loss (in ₹)?

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