Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 907 · 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.Arjun’s stall took in ₹350 on Friday, ₹60 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
2. 2.Arjun’s stall took in ₹270 on Friday, ₹90 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
3. 3.Nisha’s stall took in ₹270 on Friday, ₹350 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
4. 4.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) no reason (d) to fill a notebook
5. 5.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) a selfie (d) nothing
6. 6.Nisha’s income was ₹260 and the profit was ₹150. One expense was ₹90 (posters). How much was the other expense, for card paper (in ₹)?
7. 7.Tara’s stall took in ₹140 on Friday, ₹320 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
8. 8.📒 Income or expense: money from sales? (a) income (b) expense
9. 9.Arjun’s stall took in ₹200 on Friday, ₹130 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
10. 10.Meera’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹30 (ribbon)
    Expense: ₹20 (sugar)
    What is the profit (in ₹)?
11. 11.Kavya’s stall took in ₹180 on Friday, ₹330 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
12. 12.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
13. 13.Tara’s income was ₹290 and the profit was ₹220. One expense was ₹20 (lemons). How much was the other expense, for ribbon (in ₹)?
14. 14.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) the same day (d) never
15. 15.📒 Income or expense: tutoring fees received? (a) expense (b) income
16. 16.Tara’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹160 (paper cups)
    Expense: ₹180 (transport)
    What is the profit (in ₹)?
17. 17.📒 Income or expense: paying the stall fee? (a) income (b) expense
18. 18.➖ Profit in your records = (a) income + expenses (b) just the income (c) expenses − income (d) income − expenses
19. 19.📒 Income or expense: bus fare to the market? (a) expense (b) income
20. 20.Nisha’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹110 (sugar)
    Expense: ₹20 (ribbon)
    What is the profit (in ₹)?
21. 21.Ananya’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹180 (stall fee)
    Expense: ₹150 (paper cups)
    What is the profit (in ₹)?
22. 22.Riya’s income was ₹220 and the profit was ₹30. One expense was ₹180 (sugar). How much was the other expense, for stall fee (in ₹)?
23. 23.Rohan’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹20 (paper cups)
    Expense: ₹110 (ribbon)
    How much is the loss (in ₹)?
24. 24.Tara’s stall took in ₹290 on Friday, ₹140 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
25. 25.Which of these is an expense (money out)? (a) payment for a cake order (b) paying the stall fee (c) cash from selling plants (d) money from sales
26. 26.Dev’s stall took in ₹140 on Friday, ₹80 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
27. 27.Aarav’s stall took in ₹230 on Friday, ₹270 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
28. 28.📒 Income or expense: payment for a cake order? (a) income (b) expense
29. 29.True or false: “buying lemons” is an expense (money out). (a) False (b) True
30. 30.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) printing posters (d) payment for a cake order
31. 31.True or false: “a card order paid” is an expense (money out). (a) False (b) True
32. 32.True or false: “money from sales” is an expense (money out). (a) True (b) False
33. 33.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) a card order paid (d) paying the stall fee
34. 34.Which of these is income (money in)? (a) printing posters (b) payment for a cake order (c) buying lemons (d) buying paper cups
35. 35.True or false: “printing posters” is income (money in). (a) False (b) True
36. 36.📒 Income or expense: printing posters? (a) expense (b) income
37. 37.📒 Income or expense: buying paper cups? (a) income (b) expense
38. 38.Which of these is an expense (money out)? (a) money from sales (b) buying lemons (c) cash from selling plants (d) a card order paid
39. 39.True or false: “cash from selling plants” is income (money in). (a) False (b) True
40. 40.Gurpreet’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹200 (stall fee)
    Expense: ₹70 (lemons)
    What is the profit (in ₹)?

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