Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 845 · 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 stall took in ₹90 on Friday, ₹170 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
2. 2.True or false: “buying paper cups” is income (money in). (a) True (b) False
3. 3.Rohan’s record for a rainy day:
   Income: ₹170 (sales)
   Expense: ₹10 (lemons)
   Expense: ₹200 (card paper)
   How much is the loss (in ₹)?
4. 4.Ananya’s income was ₹430 and the profit was ₹170. One expense was ₹60 (sugar). How much was the other expense, for lemons (in ₹)?
5. 5.Kavya’s stall took in ₹320 on Friday, ₹390 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
6. 6.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) bus fare to the market (d) tutoring fees received
7. 7.➖ Profit in your records = (a) income + expenses (b) just the income (c) income − expenses (d) expenses − income
8. 8.Kabir’s record for the day:
   Income: ₹210 (morning sales)
   Income: ₹80 (evening sales)
   Expense: ₹50 (lemons)
   Expense: ₹30 (paper cups)
   What is the profit (in ₹)?
9. 9.Gurpreet’s record for the day:
   Income: ₹270 (morning sales)
   Income: ₹60 (evening sales)
   Expense: ₹120 (ribbon)
   Expense: ₹190 (card paper)
   What is the profit (in ₹)?
10. 10.📒 Income or expense: buying lemons? (a) expense (b) income
11. 11.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) printing posters (d) tutoring fees received
12. 12.Kabir’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹30 (transport)
    Expense: ₹150 (sugar)
    How much is the loss (in ₹)?
13. 13.Ishaan’s stall took in ₹180 on Friday, ₹190 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
14. 14.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
15. 15.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
16. 16.Nisha’s stall took in ₹370 on Friday, ₹370 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
17. 17.Kabir’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹90 (card paper)
    Expense: ₹170 (posters)
    What is the profit (in ₹)?
18. 18.📒 Income or expense: bus fare to the market? (a) expense (b) income
19. 19.Zoya’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹20 (posters)
    Expense: ₹110 (transport)
    What is the profit (in ₹)?
20. 20.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) a card order paid (d) printing posters
21. 21.📒 Income or expense: a card order paid? (a) income (b) expense
22. 22.True or false: “payment for a cake order” is income (money in). (a) False (b) True
23. 23.📒 Income or expense: money from sales? (a) income (b) expense
24. 24.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to look busy (d) to fill a notebook
25. 25.Vihaan’s stall took in ₹220 on Friday, ₹180 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
26. 26.Zoya’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹20 (stall fee)
    Expense: ₹290 (transport)
    How much is the loss (in ₹)?
27. 27.True or false: “bus fare to the market” is income (money in). (a) True (b) False
28. 28.Rohan’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹150 (ribbon)
    Expense: ₹40 (stall fee)
    What is the profit (in ₹)?
29. 29.📒 Income or expense: tutoring fees received? (a) expense (b) income
30. 30.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) buying lemons (d) tutoring fees received
31. 31.Vihaan’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹40 (transport)
    Expense: ₹50 (stall fee)
    How much is the loss (in ₹)?
32. 32.Aarav’s income was ₹440 and the profit was ₹270. One expense was ₹50 (card paper). How much was the other expense, for lemons (in ₹)?
33. 33.Zoya’s income was ₹260 and the profit was ₹70. One expense was ₹50 (card paper). How much was the other expense, for sugar (in ₹)?
34. 34.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) cash from selling plants (d) buying paper cups
35. 35.Which of these is an expense (money out)? (a) paying the stall fee (b) a card order paid (c) cash from selling plants (d) money from sales
36. 36.Riya’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹130 (card paper)
    Expense: ₹60 (lemons)
    How much is the loss (in ₹)?
37. 37.Farhan’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹470 (evening sales)
    Expense: ₹200 (posters)
    Expense: ₹110 (card paper)
    What is the profit (in ₹)?
38. 38.Ishaan’s stall took in ₹60 on Friday, ₹70 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
39. 39.Dev’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹70 (lemons)
    Expense: ₹70 (ribbon)
    What is the profit (in ₹)?
40. 40.Dev’s stall took in ₹250 on Friday, ₹220 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?

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