Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 277 · 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.Rohan’s stall took in ₹360 on Friday, ₹90 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
2. 2.Diya’s record for a rainy day:
   Income: ₹170 (sales)
   Expense: ₹110 (lemons)
   Expense: ₹120 (card paper)
   How much is the loss (in ₹)?
3. 3.Which of these is an expense (money out)? (a) buying lemons (b) payment for a cake order (c) tutoring fees received (d) cash from selling plants
4. 4.Aarav’s record for a rainy day:
   Income: ₹130 (sales)
   Expense: ₹20 (lemons)
   Expense: ₹210 (card paper)
   How much is the loss (in ₹)?
5. 5.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to look busy (d) to know the real profit
6. 6.True or false: “buying lemons” is income (money in). (a) True (b) False
7. 7.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) only the bag (d) nothing
8. 8.➖ Profit in your records = (a) income − expenses (b) just the income (c) income + expenses (d) expenses − income
9. 9.Vihaan’s income was ₹440 and the profit was ₹130. One expense was ₹240 (sugar). How much was the other expense, for paper cups (in ₹)?
10. 10.Lakshmi’s stall took in ₹400 on Friday, ₹260 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
11. 11.Lakshmi’s record for the day:
    Income: ₹390 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹140 (posters)
    Expense: ₹120 (lemons)
    What is the profit (in ₹)?
12. 12.Rohan’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹10 (sugar)
    Expense: ₹110 (lemons)
    How much is the loss (in ₹)?
13. 13.Riya’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹100 (card paper)
    Expense: ₹190 (posters)
    What is the profit (in ₹)?
14. 14.Vihaan’s stall took in ₹290 on Friday, ₹200 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
15. 15.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) paying the stall fee (d) money from sales
16. 16.Dev’s record for the day:
    Income: ₹470 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹100 (transport)
    Expense: ₹180 (sugar)
    What is the profit (in ₹)?
17. 17.📒 Income or expense: tutoring fees received? (a) income (b) expense
18. 18.Which of these is an expense (money out)? (a) buying paper cups (b) payment for a cake order (c) tutoring fees received (d) cash from selling plants
19. 19.Gurpreet’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹20 (transport)
    Expense: ₹290 (posters)
    How much is the loss (in ₹)?
20. 20.Gurpreet’s stall took in ₹90 on Friday, ₹150 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
21. 21.Kabir’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹160 (stall fee)
    Expense: ₹110 (card paper)
    What is the profit (in ₹)?
22. 22.Ananya’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹110 (lemons)
    Expense: ₹30 (stall fee)
    How much is the loss (in ₹)?
23. 23.Diya’s income was ₹190 and the profit was ₹100. One expense was ₹70 (paper cups). How much was the other expense, for lemons (in ₹)?
24. 24.Farhan’s income was ₹340 and the profit was ₹270. One expense was ₹10 (paper cups). How much was the other expense, for lemons (in ₹)?
25. 25.Riya’s income was ₹100 and the profit was ₹30. One expense was ₹50 (lemons). How much was the other expense, for card paper (in ₹)?
26. 26.Lakshmi’s stall took in ₹230 on Friday, ₹330 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
27. 27.📒 Income or expense: a card order paid? (a) expense (b) income
28. 28.Which of these is income (money in)? (a) payment for a cake order (b) buying paper cups (c) paying the stall fee (d) buying lemons
29. 29.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
30. 30.📒 Income or expense: bus fare to the market? (a) expense (b) income
31. 31.True or false: “buying paper cups” is income (money in). (a) True (b) False
32. 32.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
33. 33.Meera’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹210 (posters)
    Expense: ₹60 (stall fee)
    How much is the loss (in ₹)?
34. 34.Aarav’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹510 (evening sales)
    Expense: ₹190 (paper cups)
    Expense: ₹190 (posters)
    What is the profit (in ₹)?
35. 35.Joseph’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹30 (stall fee)
    Expense: ₹90 (ribbon)
    What is the profit (in ₹)?
36. 36.Riya’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹60 (lemons)
    Expense: ₹240 (sugar)
    How much is the loss (in ₹)?
37. 37.Ananya’s income was ₹470 and the profit was ₹70. One expense was ₹160 (lemons). How much was the other expense, for stall fee (in ₹)?
38. 38.Kabir’s income was ₹280 and the profit was ₹210. One expense was ₹20 (ribbon). How much was the other expense, for paper cups (in ₹)?
39. 39.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) paying the stall fee (d) cash from selling plants
40. 40.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False

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