Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 336 · 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.Kabir’s income was ₹120 and the profit was ₹20. One expense was ₹30 (stall fee). How much was the other expense, for card paper (in ₹)?
2. 2.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to know the real profit (d) to look busy
3. 3.Nisha’s record for a rainy day:
   Income: ₹270 (sales)
   Expense: ₹30 (paper cups)
   Expense: ₹270 (sugar)
   How much is the loss (in ₹)?
4. 4.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
5. 5.Dev’s income was ₹120 and the profit was ₹10. One expense was ₹20 (sugar). How much was the other expense, for paper cups (in ₹)?
6. 6.Vihaan’s record for the day:
   Income: ₹330 (morning sales)
   Income: ₹120 (evening sales)
   Expense: ₹50 (ribbon)
   Expense: ₹140 (lemons)
   What is the profit (in ₹)?
7. 7.True or false: “payment for a cake order” is income (money in). (a) True (b) False
8. 8.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) just the income (d) income + expenses
9. 9.📒 Income or expense: bus fare to the market? (a) expense (b) income
10. 10.📒 Income or expense: printing posters? (a) expense (b) income
11. 11.Farhan’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹150 (lemons)
    Expense: ₹140 (stall fee)
    How much is the loss (in ₹)?
12. 12.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) buying paper cups (d) tutoring fees received
13. 13.📒 Income or expense: money from sales? (a) expense (b) income
14. 14.📒 Income or expense: cash from selling plants? (a) expense (b) income
15. 15.Lakshmi’s stall took in ₹90 on Friday, ₹250 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
16. 16.Which of these is income (money in)? (a) cash from selling plants (b) paying the stall fee (c) bus fare to the market (d) printing posters
17. 17.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) payment for a cake order (d) buying lemons
18. 18.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
19. 19.📒 Income or expense: a card order paid? (a) expense (b) income
20. 20.True or false: “money from sales” is an expense (money out). (a) False (b) True
21. 21.📒 Income or expense: tutoring fees received? (a) income (b) expense
22. 22.Aarav’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹60 (ribbon)
    Expense: ₹10 (lemons)
    How much is the loss (in ₹)?
23. 23.Aarav’s stall took in ₹80 on Friday, ₹190 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
24. 24.Joseph’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹130 (sugar)
    Expense: ₹190 (posters)
    What is the profit (in ₹)?
25. 25.Kavya’s record for the day:
    Income: ₹450 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹90 (card paper)
    Expense: ₹180 (paper cups)
    What is the profit (in ₹)?
26. 26.Aarav’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹70 (card paper)
    Expense: ₹30 (sugar)
    What is the profit (in ₹)?
27. 27.True or false: “money from sales” is income (money in). (a) False (b) True
28. 28.Meera’s record for the day:
    Income: ₹410 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹140 (stall fee)
    Expense: ₹80 (sugar)
    What is the profit (in ₹)?
29. 29.Which of these is an expense (money out)? (a) money from sales (b) paying the stall fee (c) cash from selling plants (d) tutoring fees received
30. 30.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
31. 31.📒 Income or expense: buying paper cups? (a) expense (b) income
32. 32.Saanvi’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹190 (transport)
    Expense: ₹80 (lemons)
    What is the profit (in ₹)?
33. 33.Vihaan’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹90 (paper cups)
    Expense: ₹40 (ribbon)
    What is the profit (in ₹)?
34. 34.Which of these is income (money in)? (a) printing posters (b) money from sales (c) paying the stall fee (d) buying paper cups
35. 35.Riya’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹50 (stall fee)
    Expense: ₹110 (lemons)
    What is the profit (in ₹)?
36. 36.Which of these is income (money in)? (a) payment for a cake order (b) buying paper cups (c) buying lemons (d) printing posters
37. 37.Ishaan’s stall took in ₹360 on Friday, ₹300 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
38. 38.Dev’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹200 (stall fee)
    Expense: ₹70 (posters)
    How much is the loss (in ₹)?
39. 39.Saanvi’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹20 (ribbon)
    Expense: ₹200 (sugar)
    What is the profit (in ₹)?
40. 40.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True

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