Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 275 · 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 stall took in ₹280 on Friday, ₹270 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
2. 2.📒 Income or expense: buying lemons? (a) income (b) expense
3. 3.Rohan’s income was ₹240 and the profit was ₹180. One expense was ₹40 (posters). How much was the other expense, for lemons (in ₹)?
4. 4.Dev’s income was ₹160 and the profit was ₹130. One expense was ₹20 (card paper). How much was the other expense, for paper cups (in ₹)?
5. 5.True or false: “printing posters” is an expense (money out). (a) True (b) False
6. 6.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) nothing (d) only the bag
7. 7.Farhan’s record for the day:
   Income: ₹20 (morning sales)
   Income: ₹350 (evening sales)
   Expense: ₹120 (stall fee)
   Expense: ₹130 (transport)
   What is the profit (in ₹)?
8. 8.Aarav’s income was ₹430 and the profit was ₹400. One expense was ₹10 (posters). How much was the other expense, for ribbon (in ₹)?
9. 9.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) printing posters (d) money from sales
10. 10.📅 When is the best time to update your records? (a) once a year (b) never (c) whenever you like (d) the same day
11. 11.True or false: “payment for a cake order” is income (money in). (a) True (b) False
12. 12.Which of these is an expense (money out)? (a) tutoring fees received (b) buying paper cups (c) a card order paid (d) cash from selling plants
13. 13.Aarav’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹20 (lemons)
    Expense: ₹100 (ribbon)
    What is the profit (in ₹)?
14. 14.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) buying lemons (d) tutoring fees received
15. 15.Ananya’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹50 (transport)
    Expense: ₹220 (sugar)
    How much is the loss (in ₹)?
16. 16.📒 Income or expense: payment for a cake order? (a) income (b) expense
17. 17.📒 Income or expense: cash from selling plants? (a) income (b) expense
18. 18.Riya’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹110 (sugar)
    Expense: ₹20 (paper cups)
    How much is the loss (in ₹)?
19. 19.📒 Income or expense: buying paper cups? (a) expense (b) income
20. 20.Which of these is income (money in)? (a) buying paper cups (b) a card order paid (c) paying the stall fee (d) buying lemons
21. 21.Dev’s income was ₹220 and the profit was ₹20. One expense was ₹10 (sugar). How much was the other expense, for stall fee (in ₹)?
22. 22.Saanvi’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹50 (ribbon)
    Expense: ₹120 (lemons)
    How much is the loss (in ₹)?
23. 23.Kavya’s stall took in ₹140 on Friday, ₹220 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
24. 24.📒 Income or expense: tutoring fees received? (a) income (b) expense
25. 25.Ananya’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹80 (stall fee)
    Expense: ₹200 (posters)
    How much is the loss (in ₹)?
26. 26.True or false: “tutoring fees received” is income (money in). (a) False (b) True
27. 27.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) money from sales (d) buying lemons
28. 28.Nisha’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹20 (sugar)
    Expense: ₹60 (posters)
    How much is the loss (in ₹)?
29. 29.Which of these is an expense (money out)? (a) tutoring fees received (b) printing posters (c) a card order paid (d) payment for a cake order
30. 30.Which of these is income (money in)? (a) paying the stall fee (b) cash from selling plants (c) printing posters (d) buying paper cups
31. 31.Dev’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹70 (sugar)
    Expense: ₹120 (stall fee)
    What is the profit (in ₹)?
32. 32.Tara’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹240 (card paper)
    Expense: ₹40 (stall fee)
    How much is the loss (in ₹)?
33. 33.Dev’s income was ₹360 and the profit was ₹300. One expense was ₹10 (sugar). How much was the other expense, for card paper (in ₹)?
34. 34.Diya’s stall took in ₹350 on Friday, ₹140 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
35. 35.📒 Income or expense: money from sales? (a) expense (b) income
36. 36.Ishaan’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹100 (sugar)
    Expense: ₹160 (stall fee)
    How much is the loss (in ₹)?
37. 37.📒 Income or expense: a card order paid? (a) expense (b) income
38. 38.Meera’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹70 (sugar)
    Expense: ₹210 (lemons)
    How much is the loss (in ₹)?
39. 39.True or false: “a card order paid” is an expense (money out). (a) True (b) False
40. 40.Ishaan’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹80 (card paper)
    Expense: ₹30 (sugar)
    How much is the loss (in ₹)?

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