Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 206 · 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: money from sales? (a) expense (b) income
2. 2.Diya’s record for the day:
   Income: ₹50 (morning sales)
   Income: ₹390 (evening sales)
   Expense: ₹200 (stall fee)
   Expense: ₹160 (ribbon)
   What is the profit (in ₹)?
3. 3.Which of these is income (money in)? (a) cash from selling plants (b) bus fare to the market (c) buying lemons (d) buying paper cups
4. 4.📒 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
5. 5.Lakshmi’s stall took in ₹60 on Friday, ₹90 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
6. 6.True or false: “buying paper cups” is income (money in). (a) True (b) False
7. 7.Kavya’s income was ₹490 and the profit was ₹320. One expense was ₹110 (lemons). How much was the other expense, for transport (in ₹)?
8. 8.📒 Income or expense: a card order paid? (a) expense (b) income
9. 9.Zoya’s record for the day:
   Income: ₹120 (morning sales)
   Income: ₹290 (evening sales)
   Expense: ₹30 (card paper)
   Expense: ₹170 (lemons)
   What is the profit (in ₹)?
10. 10.📒 Income or expense: cash from selling plants? (a) expense (b) income
11. 11.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
12. 12.Diya’s income was ₹480 and the profit was ₹140. One expense was ₹10 (paper cups). How much was the other expense, for sugar (in ₹)?
13. 13.Joseph’s stall took in ₹330 on Friday, ₹220 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
14. 14.Rohan’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹160 (lemons)
    Expense: ₹20 (stall fee)
    How much is the loss (in ₹)?
15. 15.True or false: “a card order paid” is income (money in). (a) False (b) True
16. 16.Saanvi’s income was ₹100 and the profit was ₹80. One expense was ₹10 (ribbon). How much was the other expense, for lemons (in ₹)?
17. 17.📒 Income or expense: tutoring fees received? (a) expense (b) income
18. 18.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) nothing (d) the bill or receipt
19. 19.Diya’s income was ₹400 and the profit was ₹30. One expense was ₹310 (posters). How much was the other expense, for paper cups (in ₹)?
20. 20.Saanvi’s stall took in ₹390 on Friday, ₹70 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
21. 21.Kabir’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹150 (lemons)
    Expense: ₹10 (paper cups)
    How much is the loss (in ₹)?
22. 22.Ishaan’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹70 (lemons)
    Expense: ₹210 (transport)
    How much is the loss (in ₹)?
23. 23.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
24. 24.Nisha’s income was ₹250 and the profit was ₹90. One expense was ₹70 (ribbon). How much was the other expense, for posters (in ₹)?
25. 25.Which of these is income (money in)? (a) printing posters (b) tutoring fees received (c) buying lemons (d) buying paper cups
26. 26.Which of these is income (money in)? (a) paying the stall fee (b) money from sales (c) bus fare to the market (d) buying lemons
27. 27.Farhan’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹30 (posters)
    Expense: ₹270 (card paper)
    How much is the loss (in ₹)?
28. 28.Kavya’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹130 (card paper)
    Expense: ₹190 (ribbon)
    How much is the loss (in ₹)?
29. 29.True or false: “printing posters” is income (money in). (a) False (b) True
30. 30.Riya’s stall took in ₹310 on Friday, ₹160 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
31. 31.True or false: “money from sales” is an expense (money out). (a) True (b) False
32. 32.Which of these is an expense (money out)? (a) money from sales (b) buying paper cups (c) tutoring fees received (d) payment for a cake order
33. 33.Riya’s stall took in ₹400 on Friday, ₹250 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
34. 34.Kavya’s income was ₹120 and the profit was ₹40. One expense was ₹20 (stall fee). How much was the other expense, for posters (in ₹)?
35. 35.Which of these is income (money in)? (a) payment for a cake order (b) buying paper cups (c) printing posters (d) paying the stall fee
36. 36.Tara’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹90 (posters)
    Expense: ₹190 (lemons)
    What is the profit (in ₹)?
37. 37.True or false: “printing posters” is an expense (money out). (a) True (b) False
38. 38.➖ Profit in your records = (a) just the income (b) income + expenses (c) income − expenses (d) expenses − income
39. 39.Diya’s record for the day:
    Income: ₹390 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹200 (transport)
    Expense: ₹170 (lemons)
    What is the profit (in ₹)?
40. 40.Dev’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹150 (posters)
    Expense: ₹160 (paper cups)
    How much is the loss (in ₹)?

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