Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 789 · 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: buying lemons? (a) expense (b) income
2. 2.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to know the real profit (d) to fill a notebook
3. 3.Aarav’s stall took in ₹140 on Friday, ₹200 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
4. 4.Meera’s stall took in ₹50 on Friday, ₹110 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
5. 5.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) buying lemons (d) money from sales
6. 6.Lakshmi’s income was ₹460 and the profit was ₹50. One expense was ₹400 (ribbon). How much was the other expense, for sugar (in ₹)?
7. 7.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
8. 8.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
9. 9.Diya’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹80 (transport)
   Expense: ₹80 (posters)
   How much is the loss (in ₹)?
10. 10.📒 Income or expense: buying paper cups? (a) income (b) expense
11. 11.Aarav’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹70 (transport)
    Expense: ₹160 (lemons)
    What is the profit (in ₹)?
12. 12.📒 Income or expense: tutoring fees received? (a) income (b) expense
13. 13.Zoya’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹190 (lemons)
    Expense: ₹40 (stall fee)
    How much is the loss (in ₹)?
14. 14.True or false: “buying lemons” is an expense (money out). (a) False (b) True
15. 15.True or false: “paying the stall fee” is income (money in). (a) False (b) True
16. 16.Farhan’s income was ₹180 and the profit was ₹30. One expense was ₹70 (stall fee). How much was the other expense, for ribbon (in ₹)?
17. 17.Arjun’s stall took in ₹190 on Friday, ₹350 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
18. 18.📒 Income or expense: bus fare to the market? (a) income (b) expense
19. 19.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) buying paper cups (d) cash from selling plants
20. 20.Vihaan’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹30 (stall fee)
    Expense: ₹180 (ribbon)
    What is the profit (in ₹)?
21. 21.Zoya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹110 (ribbon)
    Expense: ₹140 (posters)
    What is the profit (in ₹)?
22. 22.📒 Income or expense: paying the stall fee? (a) expense (b) income
23. 23.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) tutoring fees received (d) buying lemons
24. 24.Kabir’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹40 (stall fee)
    Expense: ₹90 (ribbon)
    What is the profit (in ₹)?
25. 25.📅 When is the best time to update your records? (a) once a year (b) never (c) whenever you like (d) the same day
26. 26.📒 Income or expense: cash from selling plants? (a) expense (b) income
27. 27.Which of these is income (money in)? (a) bus fare to the market (b) money from sales (c) buying lemons (d) paying the stall fee
28. 28.Meera’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹20 (card paper)
    Expense: ₹80 (paper cups)
    What is the profit (in ₹)?
29. 29.Kavya’s income was ₹400 and the profit was ₹370. One expense was ₹10 (ribbon). How much was the other expense, for card paper (in ₹)?
30. 30.Arjun’s income was ₹420 and the profit was ₹200. One expense was ₹100 (stall fee). How much was the other expense, for ribbon (in ₹)?
31. 31.Which of these is income (money in)? (a) a card order paid (b) buying lemons (c) bus fare to the market (d) buying paper cups
32. 32.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
33. 33.Nisha’s income was ₹410 and the profit was ₹130. One expense was ₹140 (transport). How much was the other expense, for stall fee (in ₹)?
34. 34.Zoya’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹20 (card paper)
    Expense: ₹190 (lemons)
    What is the profit (in ₹)?
35. 35.Arjun’s stall took in ₹120 on Friday, ₹160 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
36. 36.True or false: “a card order paid” is income (money in). (a) False (b) True
37. 37.Nisha’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹120 (ribbon)
    Expense: ₹200 (card paper)
    What is the profit (in ₹)?
38. 38.Diya’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹20 (paper cups)
    Expense: ₹160 (stall fee)
    What is the profit (in ₹)?
39. 39.Diya’s income was ₹150 and the profit was ₹90. One expense was ₹20 (posters). How much was the other expense, for card paper (in ₹)?
40. 40.Ishaan’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹80 (paper cups)
    Expense: ₹20 (lemons)
    What is the profit (in ₹)?

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