Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 859 · 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.Saanvi’s income was ₹270 and the profit was ₹230. One expense was ₹30 (ribbon). How much was the other expense, for card paper (in ₹)?
2. 2.True or false: “a card order paid” is an expense (money out). (a) False (b) True
3. 3.📒 Income or expense: paying the stall fee? (a) income (b) expense
4. 4.Kabir’s stall took in ₹380 on Friday, ₹270 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
5. 5.Arjun’s record for a rainy day:
   Income: ₹70 (sales)
   Expense: ₹20 (lemons)
   Expense: ₹90 (posters)
   How much is the loss (in ₹)?
6. 6.Which of these is income (money in)? (a) bus fare to the market (b) tutoring fees received (c) buying paper cups (d) paying the stall fee
7. 7.Zoya’s record for a rainy day:
   Income: ₹150 (sales)
   Expense: ₹80 (sugar)
   Expense: ₹100 (ribbon)
   How much is the loss (in ₹)?
8. 8.Aarav’s stall took in ₹210 on Friday, ₹250 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
9. 9.Joseph’s stall took in ₹70 on Friday, ₹140 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
10. 10.Kabir’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹60 (card paper)
    Expense: ₹220 (sugar)
    How much is the loss (in ₹)?
11. 11.Gurpreet’s stall took in ₹240 on Friday, ₹360 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
12. 12.📒 Income or expense: tutoring fees received? (a) expense (b) income
13. 13.Which of these is income (money in)? (a) printing posters (b) a card order paid (c) buying lemons (d) paying the stall fee
14. 14.Rohan’s income was ₹290 and the profit was ₹140. One expense was ₹110 (stall fee). How much was the other expense, for paper cups (in ₹)?
15. 15.Meera’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹110 (card paper)
    Expense: ₹10 (lemons)
    How much is the loss (in ₹)?
16. 16.Gurpreet’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹40 (posters)
    Expense: ₹100 (sugar)
    How much is the loss (in ₹)?
17. 17.Kabir’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹100 (paper cups)
    Expense: ₹60 (ribbon)
    What is the profit (in ₹)?
18. 18.Riya’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹50 (card paper)
    Expense: ₹40 (lemons)
    How much is the loss (in ₹)?
19. 19.Kavya’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹100 (ribbon)
    Expense: ₹200 (posters)
    What is the profit (in ₹)?
20. 20.Saanvi’s stall took in ₹130 on Friday, ₹100 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
21. 21.📒 Income or expense: buying lemons? (a) expense (b) income
22. 22.True or false: “bus fare to the market” is income (money in). (a) False (b) True
23. 23.📅 When is the best time to update your records? (a) never (b) whenever you like (c) once a year (d) the same day
24. 24.Ishaan’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹70 (card paper)
    Expense: ₹70 (stall fee)
    What is the profit (in ₹)?
25. 25.📒 Income or expense: cash from selling plants? (a) expense (b) income
26. 26.Ananya’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹150 (stall fee)
    Expense: ₹30 (sugar)
    How much is the loss (in ₹)?
27. 27.Lakshmi’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹30 (ribbon)
    Expense: ₹110 (sugar)
    How much is the loss (in ₹)?
28. 28.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) tutoring fees received (d) buying lemons
29. 29.Nisha’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹40 (card paper)
    Expense: ₹40 (lemons)
    How much is the loss (in ₹)?
30. 30.Lakshmi’s stall took in ₹100 on Friday, ₹340 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
31. 31.Ishaan’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹40 (posters)
    Expense: ₹120 (ribbon)
    What is the profit (in ₹)?
32. 32.Kabir’s stall took in ₹400 on Friday, ₹350 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
33. 33.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to know the real profit (d) to fill a notebook
34. 34.Which of these is an expense (money out)? (a) money from sales (b) bus fare to the market (c) payment for a cake order (d) cash from selling plants
35. 35.➖ Profit in your records = (a) income + expenses (b) just the income (c) income − expenses (d) expenses − income
36. 36.Arjun’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹30 (stall fee)
    Expense: ₹110 (sugar)
    What is the profit (in ₹)?
37. 37.Which of these is an expense (money out)? (a) payment for a cake order (b) printing posters (c) tutoring fees received (d) a card order paid
38. 38.📒 Income or expense: payment for a cake order? (a) expense (b) income
39. 39.True or false: “printing posters” is an expense (money out). (a) True (b) False
40. 40.Which of these is income (money in)? (a) cash from selling plants (b) buying lemons (c) bus fare to the market (d) printing posters

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