Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 272 · 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.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) money from sales (d) buying paper cups
2. 2.📒 Income or expense: tutoring fees received? (a) expense (b) income
3. 3.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) paying the stall fee (d) tutoring fees received
4. 4.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) to look busy (d) no reason
5. 5.Ishaan’s stall took in ₹220 on Friday, ₹340 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
6. 6.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
7. 7.Saanvi’s income was ₹370 and the profit was ₹320. One expense was ₹30 (stall fee). How much was the other expense, for paper cups (in ₹)?
8. 8.Kabir’s record for the day:
   Income: ₹200 (morning sales)
   Income: ₹140 (evening sales)
   Expense: ₹100 (posters)
   Expense: ₹120 (sugar)
   What is the profit (in ₹)?
9. 9.📒 Income or expense: cash from selling plants? (a) expense (b) income
10. 10.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) never (d) the same day
11. 11.Which of these is income (money in)? (a) buying lemons (b) cash from selling plants (c) bus fare to the market (d) buying paper cups
12. 12.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) the bill or receipt (d) a selfie
13. 13.Which of these is an expense (money out)? (a) printing posters (b) a card order paid (c) cash from selling plants (d) tutoring fees received
14. 14.True or false: “bus fare to the market” is income (money in). (a) False (b) True
15. 15.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
16. 16.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) a card order paid (d) printing posters
17. 17.True or false: “paying the stall fee” is income (money in). (a) True (b) False
18. 18.Kabir’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹210 (paper cups)
    Expense: ₹110 (lemons)
    How much is the loss (in ₹)?
19. 19.Vihaan’s income was ₹490 and the profit was ₹80. One expense was ₹100 (paper cups). How much was the other expense, for transport (in ₹)?
20. 20.📒 Income or expense: money from sales? (a) expense (b) income
21. 21.📒 Income or expense: payment for a cake order? (a) expense (b) income
22. 22.Rohan’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹330 (sugar)
    Expense: ₹70 (stall fee)
    How much is the loss (in ₹)?
23. 23.Rohan’s income was ₹480 and the profit was ₹40. One expense was ₹360 (ribbon). How much was the other expense, for stall fee (in ₹)?
24. 24.Saanvi’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹30 (stall fee)
    Expense: ₹140 (posters)
    How much is the loss (in ₹)?
25. 25.Kavya’s stall took in ₹320 on Friday, ₹260 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
26. 26.Which of these is an expense (money out)? (a) cash from selling plants (b) bus fare to the market (c) money from sales (d) a card order paid
27. 27.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
28. 28.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
29. 29.Lakshmi’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹420 (evening sales)
    Expense: ₹80 (ribbon)
    Expense: ₹160 (stall fee)
    What is the profit (in ₹)?
30. 30.Ishaan’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹260 (ribbon)
    Expense: ₹50 (transport)
    How much is the loss (in ₹)?
31. 31.Zoya’s stall took in ₹140 on Friday, ₹50 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
32. 32.Which of these is an expense (money out)? (a) payment for a cake order (b) buying lemons (c) a card order paid (d) tutoring fees received
33. 33.Ananya’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹180 (paper cups)
    Expense: ₹100 (lemons)
    How much is the loss (in ₹)?
34. 34.Zoya’s stall took in ₹120 on Friday, ₹100 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
35. 35.Farhan’s income was ₹240 and the profit was ₹10. One expense was ₹80 (sugar). How much was the other expense, for posters (in ₹)?
36. 36.Saanvi’s income was ₹160 and the profit was ₹10. One expense was ₹60 (paper cups). How much was the other expense, for sugar (in ₹)?
37. 37.Kavya’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹60 (sugar)
    Expense: ₹190 (lemons)
    How much is the loss (in ₹)?
38. 38.Gurpreet’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹10 (ribbon)
    Expense: ₹110 (posters)
    How much is the loss (in ₹)?
39. 39.Ishaan’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹100 (paper cups)
    Expense: ₹90 (sugar)
    What is the profit (in ₹)?
40. 40.Zoya’s stall took in ₹130 on Friday, ₹320 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?

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