Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 799 · 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.Ishaan’s record for the day:
   Income: ₹430 (morning sales)
   Income: ₹40 (evening sales)
   Expense: ₹40 (sugar)
   Expense: ₹190 (posters)
   What is the profit (in ₹)?
2. 2.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) a card order paid (d) bus fare to the market
3. 3.Zoya’s stall took in ₹130 on Friday, ₹370 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
4. 4.Aarav’s stall took in ₹280 on Friday, ₹110 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
5. 5.Riya’s stall took in ₹300 on Friday, ₹50 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
6. 6.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) cash from selling plants (d) bus fare to the market
7. 7.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) buying paper cups (d) payment for a cake order
8. 8.Farhan’s stall took in ₹280 on Friday, ₹220 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
9. 9.Dev’s record for a rainy day:
   Income: ₹280 (sales)
   Expense: ₹230 (ribbon)
   Expense: ₹90 (paper cups)
   How much is the loss (in ₹)?
10. 10.Farhan’s income was ₹300 and the profit was ₹170. One expense was ₹20 (lemons). How much was the other expense, for stall fee (in ₹)?
11. 11.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) no reason (d) to look busy
12. 12.📒 Income or expense: cash from selling plants? (a) income (b) expense
13. 13.True or false: “money from sales” is an expense (money out). (a) False (b) True
14. 14.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
15. 15.Riya’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹220 (stall fee)
    Expense: ₹120 (sugar)
    How much is the loss (in ₹)?
16. 16.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) income + expenses (d) just the income
17. 17.Ishaan’s stall took in ₹210 on Friday, ₹220 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
18. 18.📒 Income or expense: a card order paid? (a) expense (b) income
19. 19.True or false: “cash from selling plants” is income (money in). (a) False (b) True
20. 20.Aarav’s stall took in ₹370 on Friday, ₹70 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
21. 21.📒 Income or expense: paying the stall fee? (a) expense (b) income
22. 22.True or false: “buying paper cups” is income (money in). (a) False (b) True
23. 23.Tara’s stall took in ₹90 on Friday, ₹400 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
24. 24.Tara’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹90 (paper cups)
    Expense: ₹50 (ribbon)
    How much is the loss (in ₹)?
25. 25.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
26. 26.Saanvi’s income was ₹220 and the profit was ₹90. One expense was ₹90 (card paper). How much was the other expense, for paper cups (in ₹)?
27. 27.Arjun’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹30 (posters)
    Expense: ₹160 (paper cups)
    What is the profit (in ₹)?
28. 28.Dev’s record for the day:
    Income: ₹370 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹130 (stall fee)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
29. 29.Diya’s stall took in ₹320 on Friday, ₹210 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
30. 30.📒 Income or expense: printing posters? (a) expense (b) income
31. 31.Ananya’s income was ₹140 and the profit was ₹60. One expense was ₹50 (lemons). How much was the other expense, for ribbon (in ₹)?
32. 32.Gurpreet’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹120 (stall fee)
    Expense: ₹60 (paper cups)
    What is the profit (in ₹)?
33. 33.Joseph’s income was ₹470 and the profit was ₹440. One expense was ₹10 (lemons). How much was the other expense, for ribbon (in ₹)?
34. 34.Joseph’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹90 (card paper)
    Expense: ₹100 (transport)
    How much is the loss (in ₹)?
35. 35.Kavya’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹50 (sugar)
    Expense: ₹230 (posters)
    How much is the loss (in ₹)?
36. 36.Gurpreet’s stall took in ₹250 on Friday, ₹130 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
37. 37.Aarav’s income was ₹370 and the profit was ₹30. One expense was ₹210 (transport). How much was the other expense, for sugar (in ₹)?
38. 38.📒 Income or expense: payment for a cake order? (a) income (b) expense
39. 39.Which of these is income (money in)? (a) tutoring fees received (b) buying lemons (c) buying paper cups (d) bus fare to the market
40. 40.Diya’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹40 (paper cups)
    Expense: ₹200 (transport)
    What is the profit (in ₹)?

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