Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 961 · 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.Rohan’s stall took in ₹250 on Friday, ₹320 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
2. 2.Tara’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹460 (evening sales)
   Expense: ₹120 (posters)
   Expense: ₹110 (ribbon)
   What is the profit (in ₹)?
3. 3.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to know the real profit (d) to fill a notebook
4. 4.Diya’s record for the day:
   Income: ₹130 (morning sales)
   Income: ₹390 (evening sales)
   Expense: ₹90 (card paper)
   Expense: ₹190 (lemons)
   What is the profit (in ₹)?
5. 5.📒 Income or expense: printing posters? (a) income (b) expense
6. 6.True or false: “money from sales” is an expense (money out). (a) False (b) True
7. 7.📒 Income or expense: cash from selling plants? (a) expense (b) income
8. 8.Ishaan’s stall took in ₹190 on Friday, ₹270 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
9. 9.Joseph’s record for the day:
   Income: ₹60 (morning sales)
   Income: ₹370 (evening sales)
   Expense: ₹100 (sugar)
   Expense: ₹200 (ribbon)
   What is the profit (in ₹)?
10. 10.Ananya’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹80 (ribbon)
    Expense: ₹80 (paper cups)
    How much is the loss (in ₹)?
11. 11.Joseph’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹120 (lemons)
    Expense: ₹90 (card paper)
    How much is the loss (in ₹)?
12. 12.Arjun’s stall took in ₹390 on Friday, ₹400 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
13. 13.Nisha’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹50 (sugar)
    Expense: ₹200 (lemons)
    How much is the loss (in ₹)?
14. 14.Ishaan’s income was ₹290 and the profit was ₹180. One expense was ₹60 (paper cups). How much was the other expense, for stall fee (in ₹)?
15. 15.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
16. 16.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) paying the stall fee (d) tutoring fees received
17. 17.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) cash from selling plants (d) buying paper cups
18. 18.True or false: “buying paper cups” is income (money in). (a) True (b) False
19. 19.📒 Income or expense: a card order paid? (a) income (b) expense
20. 20.Zoya’s record for the day:
    Income: ₹360 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹200 (sugar)
    Expense: ₹190 (lemons)
    What is the profit (in ₹)?
21. 21.Which of these is income (money in)? (a) a card order paid (b) paying the stall fee (c) buying lemons (d) bus fare to the market
22. 22.Diya’s stall took in ₹340 on Friday, ₹230 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
23. 23.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) never (d) once a year
24. 24.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
25. 25.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) buying paper cups (d) a card order paid
26. 26.True or false: “a card order paid” is an expense (money out). (a) True (b) False
27. 27.Gurpreet’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹10 (lemons)
    Expense: ₹320 (stall fee)
    How much is the loss (in ₹)?
28. 28.Diya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹460 (evening sales)
    Expense: ₹160 (posters)
    Expense: ₹190 (stall fee)
    What is the profit (in ₹)?
29. 29.📒 Income or expense: paying the stall fee? (a) income (b) expense
30. 30.Ananya’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹30 (paper cups)
    Expense: ₹20 (ribbon)
    What is the profit (in ₹)?
31. 31.📒 Income or expense: bus fare to the market? (a) expense (b) income
32. 32.Rohan’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹70 (ribbon)
    Expense: ₹100 (lemons)
    How much is the loss (in ₹)?
33. 33.📒 Income or expense: tutoring fees received? (a) income (b) expense
34. 34.Ananya’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹20 (paper cups)
    Expense: ₹50 (lemons)
    What is the profit (in ₹)?
35. 35.Which of these is income (money in)? (a) money from sales (b) paying the stall fee (c) buying paper cups (d) bus fare to the market
36. 36.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) paying the stall fee (d) money from sales
37. 37.Tara’s record for the day:
    Income: ₹480 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹170 (ribbon)
    Expense: ₹100 (lemons)
    What is the profit (in ₹)?
38. 38.Farhan’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹160 (posters)
    Expense: ₹60 (card paper)
    What is the profit (in ₹)?
39. 39.True or false: “printing posters” is an expense (money out). (a) False (b) True
40. 40.True or false: “paying the stall fee” is income (money in). (a) False (b) True

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