Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 329 · 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.True or false: “bus fare to the market” is income (money in). (a) False (b) True
2. 2.📒 Income or expense: buying lemons? (a) income (b) expense
3. 3.📅 When is the best time to update your records? (a) once a year (b) never (c) whenever you like (d) the same day
4. 4.True or false: “a card order paid” is an expense (money out). (a) True (b) False
5. 5.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) money from sales (d) buying paper cups
6. 6.Nisha’s record for the day:
   Income: ₹180 (morning sales)
   Income: ₹160 (evening sales)
   Expense: ₹30 (paper cups)
   Expense: ₹190 (posters)
   What is the profit (in ₹)?
7. 7.Ananya’s stall took in ₹330 on Friday, ₹120 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
8. 8.Ananya’s stall took in ₹400 on Friday, ₹370 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
9. 9.Which of these is an expense (money out)? (a) tutoring fees received (b) buying lemons (c) money from sales (d) payment for a cake order
10. 10.📒 Income or expense: printing posters? (a) expense (b) income
11. 11.Rohan’s stall took in ₹180 on Friday, ₹310 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
12. 12.True or false: “buying paper cups” is income (money in). (a) True (b) False
13. 13.True or false: “payment for a cake order” is income (money in). (a) True (b) False
14. 14.📒 Income or expense: a card order paid? (a) income (b) expense
15. 15.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to fill a notebook (d) to look busy
16. 16.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) only the bag (d) a selfie
17. 17.📒 Income or expense: cash from selling plants? (a) expense (b) income
18. 18.Zoya’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹200 (lemons)
    Expense: ₹30 (transport)
    How much is the loss (in ₹)?
19. 19.Gurpreet’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹70 (stall fee)
    Expense: ₹70 (paper cups)
    What is the profit (in ₹)?
20. 20.Which of these is income (money in)? (a) buying lemons (b) payment for a cake order (c) bus fare to the market (d) paying the stall fee
21. 21.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) bus fare to the market (d) tutoring fees received
22. 22.Which of these is an expense (money out)? (a) a card order paid (b) printing posters (c) payment for a cake order (d) cash from selling plants
23. 23.Farhan’s stall took in ₹80 on Friday, ₹310 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
24. 24.Lakshmi’s stall took in ₹140 on Friday, ₹320 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
25. 25.Which of these is income (money in)? (a) tutoring fees received (b) bus fare to the market (c) printing posters (d) buying paper cups
26. 26.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) cash from selling plants (d) buying lemons
27. 27.Kabir’s stall took in ₹380 on Friday, ₹280 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
28. 28.Diya’s stall took in ₹100 on Friday, ₹160 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
29. 29.📒 Income or expense: bus fare to the market? (a) expense (b) income
30. 30.Ananya’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹20 (posters)
    Expense: ₹280 (stall fee)
    How much is the loss (in ₹)?
31. 31.Riya’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹10 (paper cups)
    Expense: ₹270 (sugar)
    How much is the loss (in ₹)?
32. 32.True or false: “a card order paid” is income (money in). (a) True (b) False
33. 33.Zoya’s stall took in ₹120 on Friday, ₹250 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
34. 34.Vihaan’s income was ₹160 and the profit was ₹130. One expense was ₹10 (lemons). How much was the other expense, for paper cups (in ₹)?
35. 35.Arjun’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹60 (lemons)
    Expense: ₹130 (posters)
    What is the profit (in ₹)?
36. 36.Riya’s income was ₹200 and the profit was ₹30. One expense was ₹120 (ribbon). How much was the other expense, for posters (in ₹)?
37. 37.Lakshmi’s income was ₹310 and the profit was ₹160. One expense was ₹140 (transport). How much was the other expense, for paper cups (in ₹)?
38. 38.Zoya’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹80 (paper cups)
    Expense: ₹60 (stall fee)
    How much is the loss (in ₹)?
39. 39.Lakshmi’s income was ₹490 and the profit was ₹350. One expense was ₹70 (stall fee). How much was the other expense, for sugar (in ₹)?
40. 40.📒 Income or expense: paying the stall fee? (a) expense (b) income

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