Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 744 · 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.📒 Income or expense: bus fare to the market? (a) income (b) expense
2. 2.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
3. 3.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) a selfie (d) only the bag
4. 4.Lakshmi’s stall took in ₹270 on Friday, ₹300 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
5. 5.True or false: “paying the stall fee” is income (money in). (a) False (b) True
6. 6.Lakshmi’s income was ₹350 and the profit was ₹310. One expense was ₹30 (paper cups). How much was the other expense, for transport (in ₹)?
7. 7.📒 Income or expense: printing posters? (a) income (b) expense
8. 8.📒 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
9. 9.Which of these is an expense (money out)? (a) bus fare to the market (b) payment for a cake order (c) money from sales (d) cash from selling plants
10. 10.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) cash from selling plants (d) printing posters
11. 11.📒 Income or expense: money from sales? (a) income (b) expense
12. 12.📒 Income or expense: a card order paid? (a) income (b) expense
13. 13.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) bus fare to the market (d) payment for a cake order
14. 14.Diya’s stall took in ₹230 on Friday, ₹270 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
15. 15.📒 Income or expense: buying lemons? (a) expense (b) income
16. 16.Tara’s income was ₹210 and the profit was ₹90. One expense was ₹30 (posters). How much was the other expense, for sugar (in ₹)?
17. 17.Riya’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹30 (paper cups)
    Expense: ₹60 (lemons)
    What is the profit (in ₹)?
18. 18.Tara’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹150 (stall fee)
    Expense: ₹120 (paper cups)
    What is the profit (in ₹)?
19. 19.Saanvi’s stall took in ₹210 on Friday, ₹180 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
20. 20.Rohan’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹80 (sugar)
    Expense: ₹190 (posters)
    What is the profit (in ₹)?
21. 21.Arjun’s stall took in ₹200 on Friday, ₹110 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
22. 22.Aarav’s stall took in ₹150 on Friday, ₹150 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
23. 23.Farhan’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹30 (lemons)
    Expense: ₹200 (paper cups)
    What is the profit (in ₹)?
24. 24.Meera’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹90 (paper cups)
    Expense: ₹110 (card paper)
    What is the profit (in ₹)?
25. 25.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
26. 26.Which of these is income (money in)? (a) money from sales (b) printing posters (c) bus fare to the market (d) paying the stall fee
27. 27.Gurpreet’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹30 (lemons)
    Expense: ₹180 (ribbon)
    How much is the loss (in ₹)?
28. 28.Diya’s stall took in ₹50 on Friday, ₹140 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
29. 29.Kavya’s stall took in ₹230 on Friday, ₹380 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
30. 30.➖ Profit in your records = (a) expenses − income (b) just the income (c) income − expenses (d) income + expenses
31. 31.Which of these is an expense (money out)? (a) buying paper cups (b) cash from selling plants (c) a card order paid (d) tutoring fees received
32. 32.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
33. 33.True or false: “payment for a cake order” is income (money in). (a) False (b) True
34. 34.Kavya’s stall took in ₹370 on Friday, ₹380 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
35. 35.Ananya’s stall took in ₹180 on Friday, ₹230 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
36. 36.Kavya’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹60 (stall fee)
    Expense: ₹80 (sugar)
    What is the profit (in ₹)?
37. 37.Rohan’s income was ₹300 and the profit was ₹120. One expense was ₹110 (sugar). How much was the other expense, for paper cups (in ₹)?
38. 38.Nisha’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹70 (sugar)
    Expense: ₹90 (lemons)
    How much is the loss (in ₹)?
39. 39.📒 Income or expense: buying paper cups? (a) expense (b) income
40. 40.📒 Income or expense: cash from selling plants? (a) expense (b) income

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