Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 956 · 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.Ishaan’s stall took in ₹250 on Friday, ₹170 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
2. 2.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) a card order paid (d) bus fare to the market
3. 3.Rohan’s income was ₹420 and the profit was ₹30. One expense was ₹90 (paper cups). How much was the other expense, for posters (in ₹)?
4. 4.True or false: “cash from selling plants” is income (money in). (a) False (b) True
5. 5.Joseph’s record for a rainy day:
   Income: ₹190 (sales)
   Expense: ₹40 (ribbon)
   Expense: ₹240 (stall fee)
   How much is the loss (in ₹)?
6. 6.Joseph’s record for a rainy day:
   Income: ₹90 (sales)
   Expense: ₹30 (card paper)
   Expense: ₹90 (sugar)
   How much is the loss (in ₹)?
7. 7.📒 Income or expense: a card order paid? (a) income (b) expense
8. 8.📒 Income or expense: tutoring fees received? (a) income (b) expense
9. 9.Which of these is an expense (money out)? (a) buying lemons (b) a card order paid (c) money from sales (d) cash from selling plants
10. 10.Gurpreet’s income was ₹480 and the profit was ₹390. One expense was ₹50 (card paper). How much was the other expense, for posters (in ₹)?
11. 11.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) nothing (d) the bill or receipt
12. 12.📒 Income or expense: cash from selling plants? (a) income (b) expense
13. 13.Ananya’s income was ₹210 and the profit was ₹170. One expense was ₹10 (card paper). How much was the other expense, for transport (in ₹)?
14. 14.Which of these is income (money in)? (a) paying the stall fee (b) money from sales (c) buying paper cups (d) buying lemons
15. 15.📒 Income or expense: bus fare to the market? (a) expense (b) income
16. 16.Arjun’s stall took in ₹380 on Friday, ₹360 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
17. 17.📒 Income or expense: buying lemons? (a) expense (b) income
18. 18.Nisha’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹70 (posters)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?
19. 19.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to know the real profit (d) to look busy
20. 20.📅 When is the best time to update your records? (a) never (b) once a year (c) the same day (d) whenever you like
21. 21.Kavya’s stall took in ₹160 on Friday, ₹160 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
22. 22.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) cash from selling plants (d) buying paper cups
23. 23.Meera’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹70 (stall fee)
    Expense: ₹140 (lemons)
    What is the profit (in ₹)?
24. 24.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) tutoring fees received (d) bus fare to the market
25. 25.Zoya’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹70 (sugar)
    Expense: ₹170 (lemons)
    What is the profit (in ₹)?
26. 26.Arjun’s stall took in ₹120 on Friday, ₹80 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
27. 27.Ananya’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹140 (sugar)
    Expense: ₹30 (ribbon)
    What is the profit (in ₹)?
28. 28.Farhan’s stall took in ₹230 on Friday, ₹50 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
29. 29.Ishaan’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹80 (sugar)
    Expense: ₹40 (lemons)
    What is the profit (in ₹)?
30. 30.Farhan’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹110 (posters)
    Expense: ₹130 (card paper)
    How much is the loss (in ₹)?
31. 31.Which of these is an expense (money out)? (a) printing posters (b) tutoring fees received (c) payment for a cake order (d) money from sales
32. 32.Diya’s income was ₹410 and the profit was ₹370. One expense was ₹10 (ribbon). How much was the other expense, for paper cups (in ₹)?
33. 33.Aarav’s income was ₹280 and the profit was ₹120. One expense was ₹140 (sugar). How much was the other expense, for stall fee (in ₹)?
34. 34.➖ Profit in your records = (a) just the income (b) income − expenses (c) income + expenses (d) expenses − income
35. 35.True or false: “money from sales” is income (money in). (a) False (b) True
36. 36.True or false: “buying lemons” is income (money in). (a) False (b) True
37. 37.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) a card order paid (d) buying paper cups
38. 38.📒 Income or expense: paying the stall fee? (a) income (b) expense
39. 39.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
40. 40.Rohan’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹140 (posters)
    What is the profit (in ₹)?

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