Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 27 · 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.Ishaan’s record for a rainy day:
   Income: ₹230 (sales)
   Expense: ₹140 (card paper)
   Expense: ₹160 (transport)
   How much is the loss (in ₹)?
2. 2.Riya’s stall took in ₹290 on Friday, ₹400 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
3. 3.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
4. 4.Dev’s record for the day:
   Income: ₹320 (morning sales)
   Income: ₹130 (evening sales)
   Expense: ₹180 (transport)
   Expense: ₹20 (lemons)
   What is the profit (in ₹)?
5. 5.📒 Income or expense: payment for a cake order? (a) income (b) expense
6. 6.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to fill a notebook (d) to know the real profit
7. 7.📒 Income or expense: buying paper cups? (a) income (b) expense
8. 8.True or false: “money from sales” is income (money in). (a) True (b) False
9. 9.Farhan’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹430 (evening sales)
   Expense: ₹160 (stall fee)
   Expense: ₹20 (lemons)
   What is the profit (in ₹)?
10. 10.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) just the income (d) income − expenses
11. 11.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) tutoring fees received (d) bus fare to the market
12. 12.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) printing posters (d) a card order paid
13. 13.Joseph’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹30 (stall fee)
    Expense: ₹100 (ribbon)
    How much is the loss (in ₹)?
14. 14.Kavya’s stall took in ₹140 on Friday, ₹120 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
15. 15.Rohan’s stall took in ₹280 on Friday, ₹60 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
16. 16.Kavya’s stall took in ₹310 on Friday, ₹300 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
17. 17.Ishaan’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹140 (posters)
    Expense: ₹10 (paper cups)
    How much is the loss (in ₹)?
18. 18.True or false: “tutoring fees received” is income (money in). (a) True (b) False
19. 19.Gurpreet’s income was ₹260 and the profit was ₹30. One expense was ₹170 (sugar). How much was the other expense, for card paper (in ₹)?
20. 20.Aarav’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹200 (lemons)
    Expense: ₹70 (card paper)
    What is the profit (in ₹)?
21. 21.Arjun’s stall took in ₹330 on Friday, ₹170 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
22. 22.True or false: “payment for a cake order” is income (money in). (a) False (b) True
23. 23.Ishaan’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹90 (paper cups)
    Expense: ₹180 (stall fee)
    How much is the loss (in ₹)?
24. 24.📒 Income or expense: printing posters? (a) expense (b) income
25. 25.Gurpreet’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹110 (sugar)
    Expense: ₹200 (paper cups)
    What is the profit (in ₹)?
26. 26.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) paying the stall fee (d) payment for a cake order
27. 27.True or false: “printing posters” is an expense (money out). (a) False (b) True
28. 28.True or false: “printing posters” is income (money in). (a) False (b) True
29. 29.Which of these is an expense (money out)? (a) paying the stall fee (b) a card order paid (c) cash from selling plants (d) payment for a cake order
30. 30.Which of these is income (money in)? (a) money from sales (b) buying lemons (c) buying paper cups (d) paying the stall fee
31. 31.Tara’s income was ₹210 and the profit was ₹150. One expense was ₹40 (transport). How much was the other expense, for stall fee (in ₹)?
32. 32.Saanvi’s income was ₹490 and the profit was ₹300. One expense was ₹30 (paper cups). How much was the other expense, for ribbon (in ₹)?
33. 33.Aarav’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹150 (sugar)
    Expense: ₹30 (posters)
    What is the profit (in ₹)?
34. 34.Joseph’s stall took in ₹290 on Friday, ₹360 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
35. 35.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) cash from selling plants (d) buying paper cups
36. 36.📒 Income or expense: bus fare to the market? (a) income (b) expense
37. 37.Lakshmi’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹70 (lemons)
    Expense: ₹200 (ribbon)
    How much is the loss (in ₹)?
38. 38.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) never (d) once a year
39. 39.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
40. 40.Aarav’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹50 (transport)
    Expense: ₹310 (ribbon)
    How much is the loss (in ₹)?

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