Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 661 · 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.Rohan’s stall took in ₹360 on Friday, ₹360 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
2. 2.True or false: “a card order paid” is income (money in). (a) False (b) True
3. 3.True or false: “money from sales” is an expense (money out). (a) True (b) False
4. 4.Ishaan’s stall took in ₹340 on Friday, ₹210 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
5. 5.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) money from sales (d) paying the stall fee
6. 6.Joseph’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹70 (sugar)
   Expense: ₹40 (stall fee)
   How much is the loss (in ₹)?
7. 7.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
8. 8.➖ Profit in your records = (a) income − expenses (b) just the income (c) income + expenses (d) expenses − income
9. 9.Farhan’s stall took in ₹250 on Friday, ₹50 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
10. 10.Which of these is income (money in)? (a) printing posters (b) money from sales (c) paying the stall fee (d) bus fare to the market
11. 11.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) nothing (d) a selfie
12. 12.📒 Income or expense: buying paper cups? (a) income (b) expense
13. 13.📒 Income or expense: buying lemons? (a) income (b) expense
14. 14.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) bus fare to the market (d) tutoring fees received
15. 15.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) payment for a cake order (d) buying paper cups
16. 16.Tara’s stall took in ₹170 on Friday, ₹330 on Saturday and ₹280 on Sunday. What was the total income (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.📒 Income or expense: a card order paid? (a) expense (b) income
19. 19.Ishaan’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹170 (card paper)
    Expense: ₹70 (sugar)
    What is the profit (in ₹)?
20. 20.Meera’s stall took in ₹340 on Friday, ₹190 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
21. 21.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to look busy (d) to know the real profit
22. 22.Diya’s stall took in ₹260 on Friday, ₹240 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
23. 23.Meera’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹60 (transport)
    Expense: ₹30 (card paper)
    What is the profit (in ₹)?
24. 24.📒 Income or expense: money from sales? (a) income (b) expense
25. 25.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) money from sales (d) buying lemons
26. 26.Which of these is income (money in)? (a) payment for a cake order (b) bus fare to the market (c) buying lemons (d) paying the stall fee
27. 27.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
28. 28.Dev’s income was ₹120 and the profit was ₹100. One expense was ₹10 (lemons). How much was the other expense, for card paper (in ₹)?
29. 29.Aarav’s record for the day:
    Income: ₹540 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹110 (card paper)
    Expense: ₹200 (sugar)
    What is the profit (in ₹)?
30. 30.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) tutoring fees received (d) printing posters
31. 31.📒 Income or expense: printing posters? (a) income (b) expense
32. 32.Ananya’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹20 (transport)
    Expense: ₹30 (posters)
    What is the profit (in ₹)?
33. 33.Vihaan’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹110 (paper cups)
    Expense: ₹30 (ribbon)
    How much is the loss (in ₹)?
34. 34.Tara’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹60 (lemons)
    Expense: ₹160 (card paper)
    What is the profit (in ₹)?
35. 35.Kabir’s stall took in ₹50 on Friday, ₹190 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
36. 36.Meera’s income was ₹190 and the profit was ₹120. One expense was ₹10 (lemons). How much was the other expense, for transport (in ₹)?
37. 37.📒 Income or expense: tutoring fees received? (a) income (b) expense
38. 38.Tara’s income was ₹460 and the profit was ₹160. One expense was ₹240 (transport). How much was the other expense, for ribbon (in ₹)?
39. 39.Rohan’s income was ₹480 and the profit was ₹210. One expense was ₹110 (sugar). How much was the other expense, for lemons (in ₹)?
40. 40.Kabir’s stall took in ₹300 on Friday, ₹400 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?

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