Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 847 · 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.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) payment for a cake order (d) buying lemons
2. 2.Saanvi’s record for the day:
   Income: ₹50 (morning sales)
   Income: ₹370 (evening sales)
   Expense: ₹180 (paper cups)
   Expense: ₹200 (posters)
   What is the profit (in ₹)?
3. 3.Aarav’s stall took in ₹390 on Friday, ₹110 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
4. 4.📒 Income or expense: tutoring fees received? (a) income (b) expense
5. 5.True or false: “buying lemons” is income (money in). (a) True (b) False
6. 6.Joseph’s income was ₹450 and the profit was ₹110. One expense was ₹70 (sugar). How much was the other expense, for lemons (in ₹)?
7. 7.Zoya’s stall took in ₹230 on Friday, ₹130 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
8. 8.True or false: “buying paper cups” is income (money in). (a) True (b) False
9. 9.True or false: “tutoring fees received” is income (money in). (a) True (b) False
10. 10.📅 When is the best time to update your records? (a) whenever you like (b) never (c) once a year (d) the same day
11. 11.➖ Profit in your records = (a) income − expenses (b) just the income (c) expenses − income (d) income + expenses
12. 12.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) the bill or receipt (d) nothing
13. 13.Arjun’s stall took in ₹110 on Friday, ₹80 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
14. 14.Diya’s income was ₹480 and the profit was ₹460. One expense was ₹10 (paper cups). How much was the other expense, for sugar (in ₹)?
15. 15.Ishaan’s stall took in ₹350 on Friday, ₹230 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
16. 16.Dev’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹220 (paper cups)
    Expense: ₹20 (ribbon)
    How much is the loss (in ₹)?
17. 17.📒 Income or expense: money from sales? (a) expense (b) income
18. 18.True or false: “payment for a cake order” is income (money in). (a) False (b) True
19. 19.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) tutoring fees received (d) buying lemons
20. 20.Kavya’s stall took in ₹370 on Friday, ₹260 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
21. 21.Arjun’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹80 (stall fee)
    Expense: ₹20 (paper cups)
    How much is the loss (in ₹)?
22. 22.Kabir’s stall took in ₹110 on Friday, ₹210 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
23. 23.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) money from sales (d) buying lemons
24. 24.Rohan’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹110 (posters)
    Expense: ₹110 (transport)
    How much is the loss (in ₹)?
25. 25.Which of these is an expense (money out)? (a) bus fare to the market (b) money from sales (c) cash from selling plants (d) a card order paid
26. 26.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
27. 27.Joseph’s income was ₹480 and the profit was ₹190. One expense was ₹240 (transport). How much was the other expense, for ribbon (in ₹)?
28. 28.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) buying paper cups (d) money from sales
29. 29.Farhan’s income was ₹190 and the profit was ₹60. One expense was ₹60 (posters). How much was the other expense, for sugar (in ₹)?
30. 30.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) buying paper cups (d) a card order paid
31. 31.Gurpreet’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹170 (posters)
    Expense: ₹80 (transport)
    How much is the loss (in ₹)?
32. 32.True or false: “paying the stall fee” is income (money in). (a) False (b) True
33. 33.Tara’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹10 (transport)
    Expense: ₹280 (ribbon)
    How much is the loss (in ₹)?
34. 34.📒 Income or expense: cash from selling plants? (a) expense (b) income
35. 35.📒 Income or expense: payment for a cake order? (a) income (b) expense
36. 36.Joseph’s stall took in ₹320 on Friday, ₹150 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
37. 37.Joseph’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹80 (paper cups)
    Expense: ₹20 (posters)
    How much is the loss (in ₹)?
38. 38.Lakshmi’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹170 (posters)
    Expense: ₹40 (ribbon)
    What is the profit (in ₹)?
39. 39.True or false: “money from sales” is income (money in). (a) True (b) False
40. 40.📒 Income or expense: a card order paid? (a) expense (b) income

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