Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 105 · 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.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) cash from selling plants (d) printing posters
2. 2.Ananya’s income was ₹200 and the profit was ₹40. One expense was ₹20 (ribbon). How much was the other expense, for paper cups (in ₹)?
3. 3.➖ Profit in your records = (a) income − expenses (b) income + expenses (c) expenses − income (d) just the income
4. 4.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) a selfie (d) only the bag
5. 5.Ishaan’s record for the day:
   Income: ₹170 (morning sales)
   Income: ₹30 (evening sales)
   Expense: ₹30 (sugar)
   Expense: ₹120 (ribbon)
   What is the profit (in ₹)?
6. 6.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) never (d) the same day
7. 7.Farhan’s income was ₹120 and the profit was ₹100. One expense was ₹10 (paper cups). How much was the other expense, for transport (in ₹)?
8. 8.Kavya’s income was ₹300 and the profit was ₹120. One expense was ₹70 (lemons). How much was the other expense, for posters (in ₹)?
9. 9.Ananya’s income was ₹180 and the profit was ₹40. One expense was ₹40 (paper cups). How much was the other expense, for ribbon (in ₹)?
10. 10.Tara’s stall took in ₹140 on Friday, ₹400 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
11. 11.Saanvi’s income was ₹190 and the profit was ₹30. One expense was ₹150 (paper cups). How much was the other expense, for transport (in ₹)?
12. 12.True or false: “paying the stall fee” is income (money in). (a) True (b) False
13. 13.Lakshmi’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹400 (evening sales)
    Expense: ₹200 (stall fee)
    Expense: ₹180 (paper cups)
    What is the profit (in ₹)?
14. 14.📒 Income or expense: tutoring fees received? (a) expense (b) income
15. 15.True or false: “buying paper cups” is income (money in). (a) True (b) False
16. 16.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) payment for a cake order (d) bus fare to the market
17. 17.📒 Income or expense: bus fare to the market? (a) expense (b) income
18. 18.Lakshmi’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹110 (transport)
    Expense: ₹120 (sugar)
    How much is the loss (in ₹)?
19. 19.📒 Income or expense: printing posters? (a) income (b) expense
20. 20.Rohan’s stall took in ₹190 on Friday, ₹140 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
21. 21.📒 Income or expense: payment for a cake order? (a) expense (b) income
22. 22.Ishaan’s income was ₹390 and the profit was ₹120. One expense was ₹20 (sugar). How much was the other expense, for stall fee (in ₹)?
23. 23.True or false: “cash from selling plants” is income (money in). (a) False (b) True
24. 24.Vihaan’s income was ₹500 and the profit was ₹170. One expense was ₹20 (sugar). How much was the other expense, for transport (in ₹)?
25. 25.True or false: “buying lemons” is an expense (money out). (a) False (b) True
26. 26.Vihaan’s income was ₹100 and the profit was ₹40. One expense was ₹20 (transport). How much was the other expense, for posters (in ₹)?
27. 27.Ananya’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹30 (lemons)
    Expense: ₹120 (transport)
    How much is the loss (in ₹)?
28. 28.📒 Income or expense: paying the stall fee? (a) expense (b) income
29. 29.Kabir’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹90 (card paper)
    Expense: ₹150 (posters)
    How much is the loss (in ₹)?
30. 30.📒 Income or expense: a card order paid? (a) income (b) expense
31. 31.Riya’s income was ₹130 and the profit was ₹10. One expense was ₹50 (card paper). How much was the other expense, for posters (in ₹)?
32. 32.📒 Income or expense: buying lemons? (a) expense (b) income
33. 33.📒 Income or expense: buying paper cups? (a) income (b) expense
34. 34.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
35. 35.Gurpreet’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹490 (evening sales)
    Expense: ₹140 (stall fee)
    Expense: ₹70 (lemons)
    What is the profit (in ₹)?
36. 36.True or false: “money from sales” is an expense (money out). (a) False (b) True
37. 37.📒 Income or expense: money from sales? (a) income (b) expense
38. 38.Which of these is an expense (money out)? (a) paying the stall fee (b) cash from selling plants (c) payment for a cake order (d) tutoring fees received
39. 39.Tara’s stall took in ₹70 on Friday, ₹150 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
40. 40.Arjun’s stall took in ₹50 on Friday, ₹90 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?

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