Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 128 · 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.Nisha’s income was ₹200 and the profit was ₹80. One expense was ₹70 (card paper). How much was the other expense, for paper cups (in ₹)?
2. 2.Arjun’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹280 (evening sales)
   Expense: ₹80 (ribbon)
   Expense: ₹180 (paper cups)
   What is the profit (in ₹)?
3. 3.Arjun’s record for a rainy day:
   Income: ₹80 (sales)
   Expense: ₹20 (card paper)
   Expense: ₹80 (paper cups)
   How much is the loss (in ₹)?
4. 4.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) printing posters (d) payment for a cake order
5. 5.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) bus fare to the market (d) payment for a cake order
6. 6.Tara’s income was ₹420 and the profit was ₹250. One expense was ₹90 (sugar). How much was the other expense, for stall fee (in ₹)?
7. 7.📒 Income or expense: cash from selling plants? (a) income (b) expense
8. 8.Vihaan’s stall took in ₹280 on Friday, ₹400 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
9. 9.Ishaan’s stall took in ₹250 on Friday, ₹390 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
10. 10.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) money from sales (d) printing posters
11. 11.📒 Income or expense: tutoring fees received? (a) expense (b) income
12. 12.Gurpreet’s income was ₹210 and the profit was ₹180. One expense was ₹10 (sugar). How much was the other expense, for posters (in ₹)?
13. 13.Diya’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹30 (card paper)
    Expense: ₹190 (ribbon)
    How much is the loss (in ₹)?
14. 14.Nisha’s stall took in ₹350 on Friday, ₹170 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
15. 15.Nisha’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹170 (card paper)
    Expense: ₹180 (transport)
    What is the profit (in ₹)?
16. 16.True or false: “buying lemons” is income (money in). (a) False (b) True
17. 17.Riya’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹80 (card paper)
    Expense: ₹90 (posters)
    How much is the loss (in ₹)?
18. 18.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
19. 19.Rohan’s stall took in ₹360 on Friday, ₹100 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
20. 20.📒 Income or expense: buying paper cups? (a) income (b) expense
21. 21.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) the bill or receipt (d) only the bag
22. 22.Arjun’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹40 (lemons)
    Expense: ₹120 (sugar)
    What is the profit (in ₹)?
23. 23.Rohan’s stall took in ₹290 on Friday, ₹270 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
24. 24.True or false: “money from sales” is an expense (money out). (a) False (b) True
25. 25.📅 When is the best time to update your records? (a) once a year (b) the same day (c) never (d) whenever you like
26. 26.Saanvi’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹190 (paper cups)
    Expense: ₹180 (posters)
    What is the profit (in ₹)?
27. 27.Meera’s stall took in ₹200 on Friday, ₹330 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
28. 28.📒 Income or expense: a card order paid? (a) income (b) expense
29. 29.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
30. 30.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) printing posters (d) payment for a cake order
31. 31.True or false: “money from sales” is income (money in). (a) False (b) True
32. 32.Meera’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹180 (card paper)
    Expense: ₹170 (paper cups)
    How much is the loss (in ₹)?
33. 33.Aarav’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹220 (lemons)
    Expense: ₹120 (paper cups)
    How much is the loss (in ₹)?
34. 34.📒 Income or expense: paying the stall fee? (a) income (b) expense
35. 35.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) tutoring fees received (d) buying lemons
36. 36.Arjun’s income was ₹330 and the profit was ₹10. One expense was ₹230 (sugar). How much was the other expense, for paper cups (in ₹)?
37. 37.True or false: “a card order paid” is an expense (money out). (a) False (b) True
38. 38.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
39. 39.Dev’s income was ₹350 and the profit was ₹310. One expense was ₹20 (paper cups). How much was the other expense, for transport (in ₹)?
40. 40.Which of these is an expense (money out)? (a) buying paper cups (b) a card order paid (c) cash from selling plants (d) tutoring fees received

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