Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 688 · 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 ₹110 on Friday, ₹250 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
2. 2.Riya’s stall took in ₹380 on Friday, ₹340 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
3. 3.Which of these is an expense (money out)? (a) money from sales (b) printing posters (c) tutoring fees received (d) payment for a cake order
4. 4.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) cash from selling plants (d) buying paper cups
5. 5.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
6. 6.📒 Income or expense: bus fare to the market? (a) expense (b) income
7. 7.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
8. 8.Joseph’s record for a rainy day:
   Income: ₹290 (sales)
   Expense: ₹220 (ribbon)
   Expense: ₹110 (card paper)
   How much is the loss (in ₹)?
9. 9.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) tutoring fees received (d) bus fare to the market
10. 10.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) no reason (d) to know the real profit
11. 11.Arjun’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹190 (ribbon)
    Expense: ₹60 (stall fee)
    How much is the loss (in ₹)?
12. 12.True or false: “paying the stall fee” is income (money in). (a) False (b) True
13. 13.📒 Income or expense: money from sales? (a) expense (b) income
14. 14.📒 Income or expense: buying paper cups? (a) income (b) expense
15. 15.Rohan’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹100 (posters)
    Expense: ₹60 (lemons)
    How much is the loss (in ₹)?
16. 16.📒 Income or expense: buying lemons? (a) expense (b) income
17. 17.Gurpreet’s income was ₹190 and the profit was ₹160. One expense was ₹20 (lemons). How much was the other expense, for sugar (in ₹)?
18. 18.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt
19. 19.Lakshmi’s income was ₹170 and the profit was ₹30. One expense was ₹10 (lemons). How much was the other expense, for ribbon (in ₹)?
20. 20.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
21. 21.Aarav’s stall took in ₹370 on Friday, ₹380 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
22. 22.Rohan’s stall took in ₹280 on Friday, ₹310 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
23. 23.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) cash from selling plants (d) buying lemons
24. 24.Saanvi’s income was ₹160 and the profit was ₹120. One expense was ₹20 (transport). How much was the other expense, for paper cups (in ₹)?
25. 25.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) a card order paid (d) paying the stall fee
26. 26.Kabir’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹90 (card paper)
    Expense: ₹20 (stall fee)
    What is the profit (in ₹)?
27. 27.Diya’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹10 (stall fee)
    Expense: ₹130 (transport)
    How much is the loss (in ₹)?
28. 28.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
29. 29.📒 Income or expense: cash from selling plants? (a) income (b) expense
30. 30.Saanvi’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹80 (sugar)
    Expense: ₹100 (paper cups)
    What is the profit (in ₹)?
31. 31.Ananya’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹420 (evening sales)
    Expense: ₹150 (lemons)
    Expense: ₹190 (sugar)
    What is the profit (in ₹)?
32. 32.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
33. 33.Lakshmi’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹50 (stall fee)
    Expense: ₹40 (paper cups)
    How much is the loss (in ₹)?
34. 34.Arjun’s income was ₹450 and the profit was ₹360. One expense was ₹20 (transport). How much was the other expense, for sugar (in ₹)?
35. 35.Arjun’s income was ₹220 and the profit was ₹100. One expense was ₹90 (paper cups). How much was the other expense, for card paper (in ₹)?
36. 36.Saanvi’s stall took in ₹380 on Friday, ₹110 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
37. 37.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) income − expenses (d) just the income
38. 38.Meera’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹30 (ribbon)
    Expense: ₹70 (transport)
    What is the profit (in ₹)?
39. 39.Rohan’s stall took in ₹390 on Friday, ₹120 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
40. 40.Which of these is income (money in)? (a) buying paper cups (b) payment for a cake order (c) buying lemons (d) paying the stall fee

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