Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 892 · 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.📒 Income or expense: payment for a cake order? (a) expense (b) income
2. 2.Ananya’s stall took in ₹280 on Friday, ₹70 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
3. 3.Diya’s stall took in ₹140 on Friday, ₹280 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
4. 4.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to look busy (d) to know the real profit
5. 5.Joseph’s stall took in ₹350 on Friday, ₹330 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
6. 6.Gurpreet’s record for the day:
   Income: ₹50 (morning sales)
   Income: ₹230 (evening sales)
   Expense: ₹60 (posters)
   Expense: ₹30 (stall fee)
   What is the profit (in ₹)?
7. 7.📒 Income or expense: cash from selling plants? (a) income (b) expense
8. 8.Joseph’s record for the day:
   Income: ₹70 (morning sales)
   Income: ₹160 (evening sales)
   Expense: ₹50 (paper cups)
   Expense: ₹90 (ribbon)
   What is the profit (in ₹)?
9. 9.True or false: “cash from selling plants” is income (money in). (a) True (b) False
10. 10.Joseph’s income was ₹360 and the profit was ₹130. One expense was ₹30 (paper cups). How much was the other expense, for stall fee (in ₹)?
11. 11.Rohan’s income was ₹170 and the profit was ₹100. One expense was ₹30 (posters). How much was the other expense, for card paper (in ₹)?
12. 12.Which of these is income (money in)? (a) buying lemons (b) money from sales (c) printing posters (d) bus fare to the market
13. 13.📒 Income or expense: buying lemons? (a) expense (b) income
14. 14.📒 Income or expense: money from sales? (a) income (b) expense
15. 15.Nisha’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹130 (ribbon)
    Expense: ₹60 (transport)
    What is the profit (in ₹)?
16. 16.📒 Income or expense: tutoring fees received? (a) expense (b) income
17. 17.Which of these is an expense (money out)? (a) paying the stall fee (b) tutoring fees received (c) a card order paid (d) money from sales
18. 18.Lakshmi’s stall took in ₹340 on Friday, ₹210 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
19. 19.True or false: “buying paper cups” is income (money in). (a) False (b) True
20. 20.Aarav’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹50 (stall fee)
    Expense: ₹180 (transport)
    What is the profit (in ₹)?
21. 21.True or false: “buying lemons” is an expense (money out). (a) False (b) True
22. 22.Aarav’s income was ₹200 and the profit was ₹10. One expense was ₹40 (stall fee). How much was the other expense, for lemons (in ₹)?
23. 23.Tara’s stall took in ₹230 on Friday, ₹150 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
24. 24.Gurpreet’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹100 (ribbon)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
25. 25.Which of these is an expense (money out)? (a) tutoring fees received (b) printing posters (c) a card order paid (d) money from sales
26. 26.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) nothing (d) only the bag
27. 27.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) paying the stall fee (d) payment for a cake order
28. 28.Zoya’s income was ₹380 and the profit was ₹300. One expense was ₹70 (ribbon). How much was the other expense, for posters (in ₹)?
29. 29.Nisha’s stall took in ₹120 on Friday, ₹230 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
30. 30.📒 Income or expense: printing posters? (a) income (b) expense
31. 31.Kavya’s stall took in ₹230 on Friday, ₹400 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
32. 32.Which of these is income (money in)? (a) buying paper cups (b) cash from selling plants (c) paying the stall fee (d) bus fare to the market
33. 33.Joseph’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹170 (paper cups)
    Expense: ₹70 (lemons)
    What is the profit (in ₹)?
34. 34.📒 Income or expense: buying paper cups? (a) income (b) expense
35. 35.Nisha’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹80 (lemons)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?
36. 36.Arjun’s income was ₹210 and the profit was ₹50. One expense was ₹130 (lemons). How much was the other expense, for ribbon (in ₹)?
37. 37.Arjun’s income was ₹320 and the profit was ₹70. One expense was ₹100 (card paper). How much was the other expense, for transport (in ₹)?
38. 38.True or false: “tutoring fees received” is income (money in). (a) True (b) False
39. 39.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
40. 40.➖ Profit in your records = (a) just the income (b) expenses − income (c) income − expenses (d) income + expenses

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