Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 238 · 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.Kabir’s income was ₹300 and the profit was ₹130. One expense was ₹30 (sugar). How much was the other expense, for paper cups (in ₹)?
2. 2.Riya’s income was ₹390 and the profit was ₹40. One expense was ₹320 (posters). How much was the other expense, for paper cups (in ₹)?
3. 3.📒 Income or expense: buying paper cups? (a) income (b) expense
4. 4.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) a selfie (d) only the bag
5. 5.Kabir’s income was ₹120 and the profit was ₹100. One expense was ₹10 (posters). How much was the other expense, for stall fee (in ₹)?
6. 6.📒 Income or expense: a card order paid? (a) income (b) expense
7. 7.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) income − expenses (d) just the income
8. 8.Arjun’s stall took in ₹320 on Friday, ₹90 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
9. 9.Zoya’s record for a rainy day:
   Income: ₹160 (sales)
   Expense: ₹20 (lemons)
   Expense: ₹230 (ribbon)
   How much is the loss (in ₹)?
10. 10.True or false: “tutoring fees received” is income (money in). (a) True (b) False
11. 11.Vihaan’s stall took in ₹270 on Friday, ₹220 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
12. 12.True or false: “payment for a cake order” is income (money in). (a) False (b) True
13. 13.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
14. 14.Which of these is an expense (money out)? (a) printing posters (b) tutoring fees received (c) payment for a cake order (d) a card order paid
15. 15.📅 When is the best time to update your records? (a) the same day (b) once a year (c) never (d) whenever you like
16. 16.True or false: “printing posters” is income (money in). (a) True (b) False
17. 17.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) tutoring fees received (d) paying the stall fee
18. 18.📒 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
19. 19.Nisha’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹80 (transport)
    Expense: ₹160 (posters)
    How much is the loss (in ₹)?
20. 20.Diya’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹110 (ribbon)
    Expense: ₹170 (sugar)
    How much is the loss (in ₹)?
21. 21.Aarav’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹70 (sugar)
    Expense: ₹140 (transport)
    What is the profit (in ₹)?
22. 22.Ananya’s income was ₹430 and the profit was ₹110. One expense was ₹120 (posters). How much was the other expense, for sugar (in ₹)?
23. 23.Lakshmi’s stall took in ₹360 on Friday, ₹220 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
24. 24.Zoya’s record for the day:
    Income: ₹390 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹200 (paper cups)
    Expense: ₹50 (sugar)
    What is the profit (in ₹)?
25. 25.Arjun’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹50 (transport)
    Expense: ₹140 (card paper)
    How much is the loss (in ₹)?
26. 26.Saanvi’s income was ₹360 and the profit was ₹80. One expense was ₹260 (posters). How much was the other expense, for sugar (in ₹)?
27. 27.Meera’s record for the day:
    Income: ₹440 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹150 (paper cups)
    Expense: ₹110 (transport)
    What is the profit (in ₹)?
28. 28.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) paying the stall fee (d) cash from selling plants
29. 29.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) paying the stall fee (d) payment for a cake order
30. 30.Vihaan’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹40 (transport)
    Expense: ₹80 (stall fee)
    What is the profit (in ₹)?
31. 31.📒 Income or expense: bus fare to the market? (a) income (b) expense
32. 32.Ananya’s stall took in ₹310 on Friday, ₹210 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
33. 33.Which of these is income (money in)? (a) buying lemons (b) a card order paid (c) buying paper cups (d) bus fare to the market
34. 34.Joseph’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹440 (evening sales)
    Expense: ₹150 (lemons)
    Expense: ₹200 (posters)
    What is the profit (in ₹)?
35. 35.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
36. 36.📒 Income or expense: printing posters? (a) expense (b) income
37. 37.Rohan’s stall took in ₹100 on Friday, ₹170 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
38. 38.Nisha’s income was ₹360 and the profit was ₹20. One expense was ₹300 (sugar). How much was the other expense, for lemons (in ₹)?
39. 39.Joseph’s stall took in ₹50 on Friday, ₹330 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
40. 40.Dev’s income was ₹280 and the profit was ₹10. One expense was ₹40 (stall fee). How much was the other expense, for lemons (in ₹)?

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