Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 945 · 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.Kavya’s stall took in ₹100 on Friday, ₹250 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
2. 2.📒 Income or expense: cash from selling plants? (a) income (b) expense
3. 3.Dev’s stall took in ₹120 on Friday, ₹360 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
4. 4.Dev’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹100 (stall fee)
   Expense: ₹30 (card paper)
   How much is the loss (in ₹)?
5. 5.Kavya’s income was ₹360 and the profit was ₹70. One expense was ₹200 (stall fee). How much was the other expense, for ribbon (in ₹)?
6. 6.Zoya’s record for a rainy day:
   Income: ₹150 (sales)
   Expense: ₹20 (sugar)
   Expense: ₹230 (paper cups)
   How much is the loss (in ₹)?
7. 7.📒 Income or expense: payment for a cake order? (a) expense (b) income
8. 8.Ishaan’s income was ₹110 and the profit was ₹90. One expense was ₹10 (lemons). How much was the other expense, for transport (in ₹)?
9. 9.Saanvi’s income was ₹290 and the profit was ₹200. One expense was ₹60 (lemons). How much was the other expense, for stall fee (in ₹)?
10. 10.📒 Income or expense: money from sales? (a) expense (b) income
11. 11.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) a card order paid (d) buying lemons
12. 12.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) paying the stall fee (d) cash from selling plants
13. 13.Gurpreet’s income was ₹210 and the profit was ₹30. One expense was ₹150 (paper cups). How much was the other expense, for ribbon (in ₹)?
14. 14.True or false: “bus fare to the market” is income (money in). (a) False (b) True
15. 15.📅 When is the best time to update your records? (a) the same day (b) once a year (c) never (d) whenever you like
16. 16.True or false: “a card order paid” is an expense (money out). (a) True (b) False
17. 17.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
18. 18.Tara’s stall took in ₹340 on Friday, ₹280 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
19. 19.Farhan’s record for the day:
    Income: ₹350 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹40 (paper cups)
    Expense: ₹130 (transport)
    What is the profit (in ₹)?
20. 20.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) to fill a notebook (d) no reason
21. 21.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) tutoring fees received (d) paying the stall fee
22. 22.Ishaan’s income was ₹320 and the profit was ₹210. One expense was ₹80 (card paper). How much was the other expense, for transport (in ₹)?
23. 23.True or false: “buying lemons” is an expense (money out). (a) False (b) True
24. 24.📒 Income or expense: bus fare to the market? (a) expense (b) income
25. 25.Meera’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹120 (card paper)
    Expense: ₹30 (stall fee)
    How much is the loss (in ₹)?
26. 26.Saanvi’s stall took in ₹390 on Friday, ₹350 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
27. 27.Which of these is an expense (money out)? (a) buying paper cups (b) payment for a cake order (c) money from sales (d) a card order paid
28. 28.📒 Income or expense: buying paper cups? (a) expense (b) income
29. 29.Which of these is income (money in)? (a) a card order paid (b) bus fare to the market (c) buying lemons (d) buying paper cups
30. 30.📒 Income or expense: buying lemons? (a) income (b) expense
31. 31.Riya’s income was ₹280 and the profit was ₹230. One expense was ₹30 (paper cups). How much was the other expense, for posters (in ₹)?
32. 32.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) a selfie (d) only the bag
33. 33.True or false: “printing posters” is income (money in). (a) True (b) False
34. 34.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
35. 35.Tara’s income was ₹460 and the profit was ₹350. One expense was ₹10 (ribbon). How much was the other expense, for paper cups (in ₹)?
36. 36.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
37. 37.Rohan’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹40 (posters)
    Expense: ₹170 (paper cups)
    What is the profit (in ₹)?
38. 38.True or false: “cash from selling plants” is income (money in). (a) False (b) True
39. 39.Farhan’s income was ₹240 and the profit was ₹10. One expense was ₹130 (lemons). How much was the other expense, for posters (in ₹)?
40. 40.Ishaan’s stall took in ₹170 on Friday, ₹60 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?

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