Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 104 · 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.📒 Income or expense: buying lemons? (a) income (b) expense
2. 2.📒 Income or expense: payment for a cake order? (a) income (b) expense
3. 3.📒 Income or expense: bus fare to the market? (a) expense (b) income
4. 4.True or false: “cash from selling plants” is income (money in). (a) True (b) False
5. 5.True or false: “paying the stall fee” is income (money in). (a) True (b) False
6. 6.True or false: “payment for a cake order” is income (money in). (a) False (b) True
7. 7.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
8. 8.Kabir’s income was ₹430 and the profit was ₹50. One expense was ₹90 (posters). How much was the other expense, for sugar (in ₹)?
9. 9.Kabir’s income was ₹340 and the profit was ₹170. One expense was ₹40 (card paper). How much was the other expense, for sugar (in ₹)?
10. 10.Which of these is income (money in)? (a) a card order paid (b) paying the stall fee (c) buying paper cups (d) buying lemons
11. 11.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
12. 12.📒 Income or expense: cash from selling plants? (a) income (b) expense
13. 13.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) bus fare to the market (d) money from sales
14. 14.Tara’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹40 (lemons)
    Expense: ₹120 (ribbon)
    How much is the loss (in ₹)?
15. 15.📅 When is the best time to update your records? (a) whenever you like (b) never (c) once a year (d) the same day
16. 16.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
17. 17.Ananya’s stall took in ₹60 on Friday, ₹50 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
18. 18.Meera’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹200 (posters)
    Expense: ₹200 (lemons)
    What is the profit (in ₹)?
19. 19.📒 Income or expense: tutoring fees received? (a) expense (b) income
20. 20.📒 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
21. 21.Gurpreet’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹450 (evening sales)
    Expense: ₹180 (card paper)
    Expense: ₹200 (stall fee)
    What is the profit (in ₹)?
22. 22.Vihaan’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹90 (sugar)
    Expense: ₹120 (transport)
    What is the profit (in ₹)?
23. 23.Arjun’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹70 (lemons)
    Expense: ₹260 (posters)
    How much is the loss (in ₹)?
24. 24.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
25. 25.Diya’s income was ₹450 and the profit was ₹340. One expense was ₹30 (ribbon). How much was the other expense, for card paper (in ₹)?
26. 26.Kabir’s income was ₹100 and the profit was ₹20. One expense was ₹70 (lemons). How much was the other expense, for posters (in ₹)?
27. 27.Saanvi’s stall took in ₹160 on Friday, ₹210 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
28. 28.True or false: “buying paper cups” is income (money in). (a) False (b) True
29. 29.Rohan’s income was ₹120 and the profit was ₹30. One expense was ₹70 (transport). How much was the other expense, for card paper (in ₹)?
30. 30.Kabir’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹50 (card paper)
    Expense: ₹70 (stall fee)
    What is the profit (in ₹)?
31. 31.Rohan’s income was ₹350 and the profit was ₹230. One expense was ₹20 (paper cups). How much was the other expense, for sugar (in ₹)?
32. 32.True or false: “a card order paid” is an expense (money out). (a) True (b) False
33. 33.Dev’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹180 (ribbon)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?
34. 34.📒 Income or expense: a card order paid? (a) expense (b) income
35. 35.True or false: “printing posters” is income (money in). (a) False (b) True
36. 36.Vihaan’s income was ₹390 and the profit was ₹180. One expense was ₹200 (lemons). How much was the other expense, for transport (in ₹)?
37. 37.Riya’s income was ₹380 and the profit was ₹310. One expense was ₹30 (paper cups). How much was the other expense, for transport (in ₹)?
38. 38.Rohan’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹270 (lemons)
    Expense: ₹30 (card paper)
    How much is the loss (in ₹)?
39. 39.Gurpreet’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹60 (transport)
    Expense: ₹130 (card paper)
    What is the profit (in ₹)?
40. 40.Lakshmi’s income was ₹210 and the profit was ₹70. One expense was ₹30 (lemons). How much was the other expense, for transport (in ₹)?

Free entrepreneurship lessons, practice and worksheets at talentjr.in/entrepreneurship-for-kids