Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 290 · 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.Nisha’s record for the day:
   Income: ₹200 (morning sales)
   Income: ₹10 (evening sales)
   Expense: ₹100 (transport)
   Expense: ₹20 (sugar)
   What is the profit (in ₹)?
2. 2.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) buying lemons (d) cash from selling plants
3. 3.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
4. 4.Zoya’s record for a rainy day:
   Income: ₹170 (sales)
   Expense: ₹160 (paper cups)
   Expense: ₹40 (card paper)
   How much is the loss (in ₹)?
5. 5.Farhan’s income was ₹310 and the profit was ₹210. One expense was ₹90 (paper cups). How much was the other expense, for transport (in ₹)?
6. 6.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) no reason (d) to know the real profit
7. 7.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) printing posters (d) a card order paid
8. 8.Kabir’s stall took in ₹210 on Friday, ₹80 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
9. 9.📅 When is the best time to update your records? (a) the same day (b) once a year (c) whenever you like (d) never
10. 10.Ishaan’s stall took in ₹160 on Friday, ₹60 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
11. 11.📒 Income or expense: payment for a cake order? (a) income (b) expense
12. 12.Joseph’s record for the day:
    Income: ₹370 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹150 (stall fee)
    Expense: ₹130 (sugar)
    What is the profit (in ₹)?
13. 13.Zoya’s income was ₹140 and the profit was ₹120. One expense was ₹10 (ribbon). How much was the other expense, for lemons (in ₹)?
14. 14.📒 Income or expense: money from sales? (a) expense (b) income
15. 15.Rohan’s income was ₹180 and the profit was ₹120. One expense was ₹50 (paper cups). How much was the other expense, for card paper (in ₹)?
16. 16.Zoya’s stall took in ₹390 on Friday, ₹70 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
17. 17.➖ Profit in your records = (a) just the income (b) expenses − income (c) income + expenses (d) income − expenses
18. 18.Saanvi’s stall took in ₹350 on Friday, ₹130 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
19. 19.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) buying paper cups (d) cash from selling plants
20. 20.Joseph’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹190 (ribbon)
    Expense: ₹40 (sugar)
    What is the profit (in ₹)?
21. 21.Gurpreet’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹90 (sugar)
    Expense: ₹220 (lemons)
    How much is the loss (in ₹)?
22. 22.Tara’s income was ₹430 and the profit was ₹160. One expense was ₹100 (card paper). How much was the other expense, for posters (in ₹)?
23. 23.📒 Income or expense: buying paper cups? (a) income (b) expense
24. 24.Ishaan’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹60 (stall fee)
    Expense: ₹170 (lemons)
    What is the profit (in ₹)?
25. 25.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
26. 26.Kavya’s stall took in ₹360 on Friday, ₹140 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
27. 27.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
28. 28.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) buying paper cups (d) tutoring fees received
29. 29.True or false: “a card order paid” is income (money in). (a) False (b) True
30. 30.Dev’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹90 (paper cups)
    Expense: ₹110 (ribbon)
    How much is the loss (in ₹)?
31. 31.Dev’s stall took in ₹260 on Friday, ₹300 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
32. 32.True or false: “money from sales” is income (money in). (a) False (b) True
33. 33.Rohan’s stall took in ₹390 on Friday, ₹200 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
34. 34.Arjun’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹290 (posters)
    Expense: ₹20 (transport)
    How much is the loss (in ₹)?
35. 35.Nisha’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹90 (paper cups)
    Expense: ₹140 (card paper)
    How much is the loss (in ₹)?
36. 36.True or false: “printing posters” is income (money in). (a) False (b) True
37. 37.True or false: “money from sales” is an expense (money out). (a) False (b) True
38. 38.Which of these is an expense (money out)? (a) paying the stall fee (b) money from sales (c) cash from selling plants (d) tutoring fees received
39. 39.📒 Income or expense: paying the stall fee? (a) income (b) expense
40. 40.📒 Income or expense: a card order paid? (a) expense (b) income

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