Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 208 · 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: paying the stall fee? (a) income (b) expense
2. 2.Saanvi’s record for a rainy day:
   Income: ₹270 (sales)
   Expense: ₹170 (stall fee)
   Expense: ₹150 (paper cups)
   How much is the loss (in ₹)?
3. 3.Vihaan’s stall took in ₹240 on Friday, ₹350 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
4. 4.📒 Income or expense: bus fare to the market? (a) income (b) expense
5. 5.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to know the real profit (d) to fill a notebook
6. 6.Which of these is income (money in)? (a) buying paper cups (b) tutoring fees received (c) printing posters (d) bus fare to the market
7. 7.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) printing posters (d) money from sales
8. 8.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) bus fare to the market (d) cash from selling plants
9. 9.📒 Income or expense: printing posters? (a) income (b) expense
10. 10.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
11. 11.Joseph’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹240 (transport)
    Expense: ₹90 (lemons)
    How much is the loss (in ₹)?
12. 12.Kavya’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹80 (paper cups)
    Expense: ₹100 (card paper)
    What is the profit (in ₹)?
13. 13.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
14. 14.True or false: “tutoring fees received” is income (money in). (a) True (b) False
15. 15.Diya’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹180 (ribbon)
    How much is the loss (in ₹)?
16. 16.Aarav’s stall took in ₹60 on Friday, ₹210 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
17. 17.True or false: “paying the stall fee” is income (money in). (a) False (b) True
18. 18.True or false: “printing posters” is income (money in). (a) True (b) False
19. 19.Nisha’s income was ₹360 and the profit was ₹80. One expense was ₹140 (lemons). How much was the other expense, for card paper (in ₹)?
20. 20.📒 Income or expense: cash from selling plants? (a) expense (b) income
21. 21.Farhan’s income was ₹330 and the profit was ₹140. One expense was ₹140 (stall fee). How much was the other expense, for card paper (in ₹)?
22. 22.Aarav’s stall took in ₹270 on Friday, ₹110 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
23. 23.Tara’s income was ₹220 and the profit was ₹10. One expense was ₹130 (stall fee). How much was the other expense, for card paper (in ₹)?
24. 24.Farhan’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹40 (lemons)
    Expense: ₹150 (sugar)
    How much is the loss (in ₹)?
25. 25.Aarav’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹50 (lemons)
    Expense: ₹240 (posters)
    How much is the loss (in ₹)?
26. 26.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
27. 27.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) buying lemons (d) money from sales
28. 28.📒 Income or expense: buying paper cups? (a) expense (b) income
29. 29.📒 Income or expense: money from sales? (a) expense (b) income
30. 30.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) buying paper cups (d) tutoring fees received
31. 31.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt
32. 32.Which of these is an expense (money out)? (a) tutoring fees received (b) paying the stall fee (c) cash from selling plants (d) money from sales
33. 33.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) bus fare to the market (d) payment for a cake order
34. 34.Gurpreet’s stall took in ₹220 on Friday, ₹330 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
35. 35.📒 Income or expense: buying lemons? (a) expense (b) income
36. 36.Rohan’s income was ₹480 and the profit was ₹460. One expense was ₹10 (sugar). How much was the other expense, for card paper (in ₹)?
37. 37.Ananya’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹190 (stall fee)
    Expense: ₹160 (transport)
    How much is the loss (in ₹)?
38. 38.Vihaan’s income was ₹170 and the profit was ₹120. One expense was ₹10 (transport). How much was the other expense, for card paper (in ₹)?
39. 39.Rohan’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹110 (paper cups)
    Expense: ₹90 (stall fee)
    What is the profit (in ₹)?
40. 40.Meera’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹240 (ribbon)
    Expense: ₹70 (stall fee)
    How much is the loss (in ₹)?

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