Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 222 · 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) income (b) expense
2. 2.Which of these is an expense (money out)? (a) cash from selling plants (b) buying paper cups (c) money from sales (d) payment for a cake order
3. 3.📒 Income or expense: paying the stall fee? (a) income (b) expense
4. 4.Nisha’s stall took in ₹360 on Friday, ₹100 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
5. 5.📒 Income or expense: bus fare to the market? (a) income (b) expense
6. 6.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) money from sales (d) bus fare to the market
7. 7.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
8. 8.📅 When is the best time to update your records? (a) never (b) the same day (c) whenever you like (d) once a year
9. 9.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) printing posters (d) cash from selling plants
10. 10.Arjun’s record for the day:
    Income: ₹420 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹200 (stall fee)
    Expense: ₹130 (sugar)
    What is the profit (in ₹)?
11. 11.Nisha’s stall took in ₹250 on Friday, ₹240 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
12. 12.Saanvi’s income was ₹240 and the profit was ₹20. One expense was ₹40 (transport). How much was the other expense, for stall fee (in ₹)?
13. 13.📒 Income or expense: printing posters? (a) expense (b) income
14. 14.📒 Income or expense: tutoring fees received? (a) income (b) expense
15. 15.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) a selfie (d) only the bag
16. 16.Farhan’s income was ₹420 and the profit was ₹370. One expense was ₹10 (transport). How much was the other expense, for paper cups (in ₹)?
17. 17.Which of these is an expense (money out)? (a) money from sales (b) buying lemons (c) a card order paid (d) cash from selling plants
18. 18.Diya’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹140 (sugar)
    What is the profit (in ₹)?
19. 19.Dev’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹80 (paper cups)
    Expense: ₹130 (card paper)
    How much is the loss (in ₹)?
20. 20.➖ Profit in your records = (a) income − expenses (b) income + expenses (c) expenses − income (d) just the income
21. 21.📒 Income or expense: a card order paid? (a) expense (b) income
22. 22.Which of these is an expense (money out)? (a) money from sales (b) paying the stall fee (c) tutoring fees received (d) cash from selling plants
23. 23.📒 Income or expense: buying lemons? (a) income (b) expense
24. 24.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) tutoring fees received (d) paying the stall fee
25. 25.Diya’s stall took in ₹150 on Friday, ₹210 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
26. 26.Zoya’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹100 (stall fee)
    Expense: ₹270 (ribbon)
    How much is the loss (in ₹)?
27. 27.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
28. 28.True or false: “buying lemons” is income (money in). (a) False (b) True
29. 29.Joseph’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹210 (sugar)
    Expense: ₹130 (posters)
    How much is the loss (in ₹)?
30. 30.Meera’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹100 (card paper)
    Expense: ₹100 (posters)
    What is the profit (in ₹)?
31. 31.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) bus fare to the market (d) a card order paid
32. 32.Joseph’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹50 (transport)
    Expense: ₹180 (card paper)
    How much is the loss (in ₹)?
33. 33.Arjun’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹450 (evening sales)
    Expense: ₹170 (card paper)
    Expense: ₹80 (posters)
    What is the profit (in ₹)?
34. 34.True or false: “printing posters” is income (money in). (a) False (b) True
35. 35.Nisha’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹60 (ribbon)
    Expense: ₹70 (sugar)
    How much is the loss (in ₹)?
36. 36.📒 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
37. 37.Ishaan’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹310 (transport)
    Expense: ₹40 (paper cups)
    How much is the loss (in ₹)?
38. 38.Kabir’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹340 (evening sales)
    Expense: ₹140 (ribbon)
    Expense: ₹50 (stall fee)
    What is the profit (in ₹)?
39. 39.Which of these is income (money in)? (a) payment for a cake order (b) buying lemons (c) paying the stall fee (d) printing posters
40. 40.Arjun’s stall took in ₹70 on Friday, ₹110 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?

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