Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 641 · 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.Kabir’s stall took in ₹220 on Friday, ₹380 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
2. 2.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
3. 3.Dev’s record for a rainy day:
   Income: ₹190 (sales)
   Expense: ₹20 (stall fee)
   Expense: ₹220 (paper cups)
   How much is the loss (in ₹)?
4. 4.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) buying lemons (d) a card order paid
5. 5.Which of these is an expense (money out)? (a) cash from selling plants (b) printing posters (c) tutoring fees received (d) a card order paid
6. 6.Gurpreet’s stall took in ₹290 on Friday, ₹290 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
7. 7.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
8. 8.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) printing posters (d) money from sales
9. 9.Zoya’s record for the day:
   Income: ₹200 (morning sales)
   Income: ₹190 (evening sales)
   Expense: ₹70 (paper cups)
   Expense: ₹50 (card paper)
   What is the profit (in ₹)?
10. 10.Gurpreet’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹310 (sugar)
    Expense: ₹10 (lemons)
    How much is the loss (in ₹)?
11. 11.Gurpreet’s record for the day:
    Income: ₹460 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹200 (sugar)
    Expense: ₹170 (stall fee)
    What is the profit (in ₹)?
12. 12.Arjun’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹100 (posters)
    Expense: ₹60 (paper cups)
    What is the profit (in ₹)?
13. 13.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) no reason (d) to know the real profit
14. 14.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
15. 15.Tara’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹100 (paper cups)
    Expense: ₹10 (stall fee)
    How much is the loss (in ₹)?
16. 16.Gurpreet’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹40 (lemons)
    Expense: ₹80 (paper cups)
    How much is the loss (in ₹)?
17. 17.📒 Income or expense: buying lemons? (a) income (b) expense
18. 18.📒 Income or expense: bus fare to the market? (a) expense (b) income
19. 19.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) the bill or receipt (d) a selfie
20. 20.Which of these is income (money in)? (a) printing posters (b) tutoring fees received (c) buying lemons (d) buying paper cups
21. 21.📒 Income or expense: money from sales? (a) income (b) expense
22. 22.📒 Income or expense: cash from selling plants? (a) expense (b) income
23. 23.Nisha’s income was ₹110 and the profit was ₹90. One expense was ₹10 (stall fee). How much was the other expense, for sugar (in ₹)?
24. 24.True or false: “money from sales” is income (money in). (a) False (b) True
25. 25.Which of these is income (money in)? (a) printing posters (b) cash from selling plants (c) buying lemons (d) bus fare to the market
26. 26.Saanvi’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹130 (card paper)
    Expense: ₹50 (posters)
    What is the profit (in ₹)?
27. 27.📒 Income or expense: tutoring fees received? (a) expense (b) income
28. 28.Farhan’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹80 (ribbon)
    Expense: ₹110 (sugar)
    What is the profit (in ₹)?
29. 29.Riya’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹110 (sugar)
    Expense: ₹40 (ribbon)
    What is the profit (in ₹)?
30. 30.Joseph’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹190 (posters)
    Expense: ₹30 (transport)
    What is the profit (in ₹)?
31. 31.📒 Income or expense: buying paper cups? (a) income (b) expense
32. 32.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
33. 33.Diya’s stall took in ₹260 on Friday, ₹100 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
34. 34.📅 When is the best time to update your records? (a) never (b) whenever you like (c) the same day (d) once a year
35. 35.📒 Income or expense: paying the stall fee? (a) income (b) expense
36. 36.Kabir’s stall took in ₹220 on Friday, ₹70 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
37. 37.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) bus fare to the market (d) payment for a cake order
38. 38.True or false: “paying the stall fee” is income (money in). (a) True (b) False
39. 39.True or false: “a card order paid” is an expense (money out). (a) True (b) False
40. 40.Diya’s stall took in ₹340 on Friday, ₹180 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?

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