Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 782 · 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.Farhan’s stall took in ₹90 on Friday, ₹390 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
2. 2.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to look busy (d) to know the real profit
3. 3.Kabir’s record for a rainy day:
   Income: ₹90 (sales)
   Expense: ₹30 (paper cups)
   Expense: ₹130 (lemons)
   How much is the loss (in ₹)?
4. 4.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) income − expenses (d) just the income
5. 5.True or false: “paying the stall fee” is income (money in). (a) True (b) False
6. 6.📒 Income or expense: money from sales? (a) expense (b) income
7. 7.Joseph’s income was ₹150 and the profit was ₹50. One expense was ₹10 (stall fee). How much was the other expense, for posters (in ₹)?
8. 8.Arjun’s record for the day:
   Income: ₹220 (morning sales)
   Income: ₹310 (evening sales)
   Expense: ₹40 (paper cups)
   Expense: ₹200 (lemons)
   What is the profit (in ₹)?
9. 9.True or false: “printing posters” is income (money in). (a) True (b) False
10. 10.Farhan’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹80 (lemons)
    Expense: ₹30 (sugar)
    How much is the loss (in ₹)?
11. 11.True or false: “buying paper cups” is income (money in). (a) False (b) True
12. 12.📒 Income or expense: cash from selling plants? (a) expense (b) income
13. 13.True or false: “buying lemons” is an expense (money out). (a) False (b) True
14. 14.Joseph’s stall took in ₹170 on Friday, ₹400 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
15. 15.📒 Income or expense: payment for a cake order? (a) expense (b) income
16. 16.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) buying lemons (d) tutoring fees received
17. 17.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
18. 18.Which of these is income (money in)? (a) money from sales (b) buying paper cups (c) bus fare to the market (d) printing posters
19. 19.Nisha’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹50 (ribbon)
    Expense: ₹70 (lemons)
    How much is the loss (in ₹)?
20. 20.Zoya’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹110 (ribbon)
    Expense: ₹160 (stall fee)
    How much is the loss (in ₹)?
21. 21.Which of these is income (money in)? (a) cash from selling plants (b) paying the stall fee (c) printing posters (d) buying lemons
22. 22.📒 Income or expense: paying the stall fee? (a) expense (b) income
23. 23.Which of these is income (money in)? (a) buying paper cups (b) a card order paid (c) paying the stall fee (d) buying lemons
24. 24.📒 Income or expense: buying lemons? (a) expense (b) income
25. 25.True or false: “tutoring fees received” is income (money in). (a) False (b) True
26. 26.Joseph’s income was ₹410 and the profit was ₹220. One expense was ₹90 (ribbon). How much was the other expense, for paper cups (in ₹)?
27. 27.Meera’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹110 (paper cups)
    Expense: ₹80 (stall fee)
    How much is the loss (in ₹)?
28. 28.Saanvi’s income was ₹120 and the profit was ₹10. One expense was ₹80 (posters). How much was the other expense, for ribbon (in ₹)?
29. 29.Joseph’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹110 (transport)
    Expense: ₹50 (lemons)
    What is the profit (in ₹)?
30. 30.Riya’s income was ₹140 and the profit was ₹120. One expense was ₹10 (posters). How much was the other expense, for sugar (in ₹)?
31. 31.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) printing posters (d) payment for a cake order
32. 32.Joseph’s income was ₹190 and the profit was ₹10. One expense was ₹50 (sugar). How much was the other expense, for lemons (in ₹)?
33. 33.Joseph’s stall took in ₹360 on Friday, ₹390 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
34. 34.Nisha’s income was ₹390 and the profit was ₹300. One expense was ₹50 (posters). How much was the other expense, for stall fee (in ₹)?
35. 35.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) money from sales (d) bus fare to the market
36. 36.📒 Income or expense: a card order paid? (a) income (b) expense
37. 37.📒 Income or expense: tutoring fees received? (a) income (b) expense
38. 38.True or false: “money from sales” is an expense (money out). (a) True (b) False
39. 39.Lakshmi’s income was ₹270 and the profit was ₹20. One expense was ₹40 (sugar). How much was the other expense, for lemons (in ₹)?
40. 40.📒 Income or expense: buying paper cups? (a) expense (b) income

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