Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 869 · 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.Rohan’s stall took in ₹350 on Friday, ₹60 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
2. 2.True or false: “printing posters” is an expense (money out). (a) False (b) True
3. 3.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
4. 4.📒 Income or expense: printing posters? (a) income (b) expense
5. 5.True or false: “tutoring fees received” is income (money in). (a) True (b) False
6. 6.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
7. 7.True or false: “money from sales” is an expense (money out). (a) True (b) False
8. 8.➖ Profit in your records = (a) income − expenses (b) just the income (c) income + expenses (d) expenses − income
9. 9.📒 Income or expense: tutoring fees received? (a) expense (b) income
10. 10.📒 Income or expense: payment for a cake order? (a) income (b) expense
11. 11.Joseph’s stall took in ₹300 on Friday, ₹270 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
12. 12.Which of these is an expense (money out)? (a) buying lemons (b) a card order paid (c) tutoring fees received (d) money from sales
13. 13.Saanvi’s stall took in ₹290 on Friday, ₹260 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
14. 14.Arjun’s stall took in ₹220 on Friday, ₹200 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
15. 15.Joseph’s stall took in ₹220 on Friday, ₹140 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
16. 16.Dev’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹10 (transport)
    Expense: ₹180 (ribbon)
    How much is the loss (in ₹)?
17. 17.📒 Income or expense: buying lemons? (a) income (b) expense
18. 18.Joseph’s stall took in ₹70 on Friday, ₹290 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
19. 19.Rohan’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹200 (lemons)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
20. 20.Ananya’s stall took in ₹110 on Friday, ₹120 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
21. 21.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) only the bag (d) a selfie
22. 22.True or false: “buying paper cups” is income (money in). (a) True (b) False
23. 23.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) the same day (d) never
24. 24.True or false: “a card order paid” is an expense (money out). (a) False (b) True
25. 25.Which of these is income (money in)? (a) payment for a cake order (b) bus fare to the market (c) buying lemons (d) paying the stall fee
26. 26.Saanvi’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹20 (lemons)
    Expense: ₹180 (ribbon)
    What is the profit (in ₹)?
27. 27.Gurpreet’s income was ₹280 and the profit was ₹70. One expense was ₹10 (sugar). How much was the other expense, for lemons (in ₹)?
28. 28.Meera’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹30 (sugar)
    Expense: ₹150 (stall fee)
    How much is the loss (in ₹)?
29. 29.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
30. 30.Which of these is income (money in)? (a) printing posters (b) money from sales (c) buying lemons (d) buying paper cups
31. 31.Which of these is an expense (money out)? (a) a card order paid (b) printing posters (c) tutoring fees received (d) cash from selling plants
32. 32.Saanvi’s income was ₹400 and the profit was ₹70. One expense was ₹70 (stall fee). How much was the other expense, for paper cups (in ₹)?
33. 33.Saanvi’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹120 (posters)
    Expense: ₹110 (ribbon)
    What is the profit (in ₹)?
34. 34.Ananya’s stall took in ₹190 on Friday, ₹50 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
35. 35.Gurpreet’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹180 (sugar)
    Expense: ₹170 (card paper)
    What is the profit (in ₹)?
36. 36.Dev’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹100 (lemons)
    Expense: ₹20 (transport)
    What is the profit (in ₹)?
37. 37.📒 Income or expense: buying paper cups? (a) expense (b) income
38. 38.Saanvi’s stall took in ₹160 on Friday, ₹100 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
39. 39.Zoya’s stall took in ₹250 on Friday, ₹50 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
40. 40.Aarav’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹30 (lemons)
    Expense: ₹20 (sugar)
    What is the profit (in ₹)?

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