Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 946 · 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.Diya’s stall took in ₹80 on Friday, ₹150 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
2. 2.True or false: “buying paper cups” is income (money in). (a) True (b) False
3. 3.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) money from sales (d) paying the stall fee
4. 4.➖ Profit in your records = (a) income − expenses (b) income + expenses (c) expenses − income (d) just the income
5. 5.Rohan’s income was ₹480 and the profit was ₹130. One expense was ₹90 (ribbon). How much was the other expense, for paper cups (in ₹)?
6. 6.📒 Income or expense: a card order paid? (a) income (b) expense
7. 7.Riya’s income was ₹130 and the profit was ₹20. One expense was ₹70 (stall fee). How much was the other expense, for posters (in ₹)?
8. 8.Which of these is income (money in)? (a) printing posters (b) money from sales (c) bus fare to the market (d) buying paper cups
9. 9.Diya’s record for the day:
   Income: ₹250 (morning sales)
   Income: ₹250 (evening sales)
   Expense: ₹170 (ribbon)
   Expense: ₹50 (lemons)
   What is the profit (in ₹)?
10. 10.True or false: “buying lemons” is income (money in). (a) True (b) False
11. 11.📒 Income or expense: cash from selling plants? (a) income (b) expense
12. 12.Joseph’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹170 (posters)
    Expense: ₹20 (lemons)
    What is the profit (in ₹)?
13. 13.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) a card order paid (d) printing posters
14. 14.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) buying lemons (d) tutoring fees received
15. 15.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) never (d) once a year
16. 16.📒 Income or expense: bus fare to the market? (a) income (b) expense
17. 17.True or false: “paying the stall fee” is income (money in). (a) False (b) True
18. 18.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) no reason (d) to look busy
19. 19.Zoya’s stall took in ₹360 on Friday, ₹290 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
20. 20.Nisha’s stall took in ₹400 on Friday, ₹140 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
21. 21.Farhan’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹40 (transport)
    Expense: ₹80 (stall fee)
    What is the profit (in ₹)?
22. 22.Aarav’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹40 (stall fee)
    Expense: ₹360 (ribbon)
    How much is the loss (in ₹)?
23. 23.True or false: “money from sales” is income (money in). (a) True (b) False
24. 24.True or false: “tutoring fees received” is income (money in). (a) True (b) False
25. 25.Farhan’s income was ₹120 and the profit was ₹80. One expense was ₹20 (ribbon). How much was the other expense, for paper cups (in ₹)?
26. 26.Ananya’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹170 (lemons)
    Expense: ₹80 (transport)
    What is the profit (in ₹)?
27. 27.Aarav’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹50 (paper cups)
    Expense: ₹60 (lemons)
    What is the profit (in ₹)?
28. 28.Lakshmi’s stall took in ₹110 on Friday, ₹230 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
29. 29.Meera’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹120 (lemons)
    Expense: ₹20 (posters)
    What is the profit (in ₹)?
30. 30.Riya’s income was ₹160 and the profit was ₹60. One expense was ₹70 (sugar). How much was the other expense, for paper cups (in ₹)?
31. 31.Ananya’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹190 (stall fee)
    Expense: ₹80 (sugar)
    How much is the loss (in ₹)?
32. 32.Ishaan’s record for the day:
    Income: ₹400 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹120 (stall fee)
    Expense: ₹140 (lemons)
    What is the profit (in ₹)?
33. 33.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) printing posters (d) payment for a cake order
34. 34.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
35. 35.Which of these is income (money in)? (a) tutoring fees received (b) buying lemons (c) buying paper cups (d) bus fare to the market
36. 36.Meera’s income was ₹410 and the profit was ₹140. One expense was ₹200 (card paper). How much was the other expense, for sugar (in ₹)?
37. 37.Ishaan’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹200 (posters)
    Expense: ₹10 (card paper)
    How much is the loss (in ₹)?
38. 38.Lakshmi’s stall took in ₹260 on Friday, ₹360 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
39. 39.Kabir’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹170 (posters)
    Expense: ₹200 (lemons)
    What is the profit (in ₹)?
40. 40.Lakshmi’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹190 (lemons)
    Expense: ₹50 (posters)
    What is the profit (in ₹)?

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