Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 878 · 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) bus fare to the market (b) buying lemons (c) paying the stall fee (d) payment for a cake order
2. 2.Gurpreet’s stall took in ₹150 on Friday, ₹220 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
3. 3.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
4. 4.📒 Income or expense: buying lemons? (a) expense (b) income
5. 5.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) buying paper cups (d) a card order paid
6. 6.Joseph’s record for the day:
   Income: ₹170 (morning sales)
   Income: ₹430 (evening sales)
   Expense: ₹180 (stall fee)
   Expense: ₹200 (lemons)
   What is the profit (in ₹)?
7. 7.Arjun’s record for the day:
   Income: ₹30 (morning sales)
   Income: ₹140 (evening sales)
   Expense: ₹90 (posters)
   Expense: ₹30 (transport)
   What is the profit (in ₹)?
8. 8.Saanvi’s record for the day:
   Income: ₹200 (morning sales)
   Income: ₹390 (evening sales)
   Expense: ₹170 (lemons)
   Expense: ₹130 (ribbon)
   What is the profit (in ₹)?
9. 9.Riya’s income was ₹280 and the profit was ₹60. One expense was ₹190 (sugar). How much was the other expense, for card paper (in ₹)?
10. 10.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) no reason (d) to look busy
11. 11.Ananya’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹280 (lemons)
    Expense: ₹60 (sugar)
    How much is the loss (in ₹)?
12. 12.📒 Income or expense: tutoring fees received? (a) expense (b) income
13. 13.Diya’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹80 (transport)
    Expense: ₹150 (card paper)
    What is the profit (in ₹)?
14. 14.📒 Income or expense: paying the stall fee? (a) expense (b) income
15. 15.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) bus fare to the market (d) money from sales
16. 16.📒 Income or expense: a card order paid? (a) income (b) expense
17. 17.True or false: “a card order paid” is income (money in). (a) False (b) True
18. 18.Riya’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹30 (sugar)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?
19. 19.Ananya’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹40 (transport)
    Expense: ₹350 (lemons)
    How much is the loss (in ₹)?
20. 20.Lakshmi’s stall took in ₹370 on Friday, ₹330 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
21. 21.Diya’s income was ₹340 and the profit was ₹240. One expense was ₹80 (lemons). How much was the other expense, for ribbon (in ₹)?
22. 22.True or false: “printing posters” is an expense (money out). (a) False (b) True
23. 23.Which of these is income (money in)? (a) printing posters (b) tutoring fees received (c) bus fare to the market (d) buying paper cups
24. 24.Which of these is income (money in)? (a) cash from selling plants (b) printing posters (c) buying paper cups (d) buying lemons
25. 25.Joseph’s stall took in ₹150 on Friday, ₹100 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
26. 26.Meera’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹330 (transport)
    Expense: ₹10 (posters)
    How much is the loss (in ₹)?
27. 27.Aarav’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹20 (sugar)
    Expense: ₹170 (paper cups)
    How much is the loss (in ₹)?
28. 28.➖ Profit in your records = (a) just the income (b) income + expenses (c) income − expenses (d) expenses − income
29. 29.Ananya’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹30 (stall fee)
    Expense: ₹140 (lemons)
    How much is the loss (in ₹)?
30. 30.Kabir’s stall took in ₹220 on Friday, ₹210 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
31. 31.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt
32. 32.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) payment for a cake order (d) paying the stall fee
33. 33.📒 Income or expense: printing posters? (a) expense (b) income
34. 34.Lakshmi’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹70 (paper cups)
    Expense: ₹30 (lemons)
    What is the profit (in ₹)?
35. 35.Riya’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹100 (lemons)
    Expense: ₹50 (transport)
    How much is the loss (in ₹)?
36. 36.📒 Income or expense: bus fare to the market? (a) income (b) expense
37. 37.Gurpreet’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹80 (stall fee)
    Expense: ₹110 (paper cups)
    What is the profit (in ₹)?
38. 38.Tara’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹190 (ribbon)
    Expense: ₹160 (paper cups)
    What is the profit (in ₹)?
39. 39.Riya’s stall took in ₹290 on Friday, ₹240 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
40. 40.Kavya’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹90 (paper cups)
    Expense: ₹80 (posters)
    What is the profit (in ₹)?

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