Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 337 · 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 income was ₹500 and the profit was ₹280. One expense was ₹180 (posters). How much was the other expense, for card paper (in ₹)?
2. 2.Saanvi’s record for the day:
   Income: ₹80 (morning sales)
   Income: ₹400 (evening sales)
   Expense: ₹170 (card paper)
   Expense: ₹40 (posters)
   What is the profit (in ₹)?
3. 3.Riya’s income was ₹330 and the profit was ₹200. One expense was ₹40 (ribbon). How much was the other expense, for stall fee (in ₹)?
4. 4.Aarav’s record for a rainy day:
   Income: ₹190 (sales)
   Expense: ₹150 (posters)
   Expense: ₹60 (ribbon)
   How much is the loss (in ₹)?
5. 5.Gurpreet’s record for the day:
   Income: ₹250 (morning sales)
   Income: ₹130 (evening sales)
   Expense: ₹100 (posters)
   Expense: ₹20 (paper cups)
   What is the profit (in ₹)?
6. 6.Which of these is income (money in)? (a) bus fare to the market (b) money from sales (c) printing posters (d) buying lemons
7. 7.📒 Income or expense: a card order paid? (a) expense (b) income
8. 8.Kabir’s record for the day:
   Income: ₹120 (morning sales)
   Income: ₹20 (evening sales)
   Expense: ₹50 (stall fee)
   Expense: ₹40 (transport)
   What is the profit (in ₹)?
9. 9.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) payment for a cake order (d) bus fare to the market
10. 10.📅 When is the best time to update your records? (a) never (b) the same day (c) whenever you like (d) once a year
11. 11.Kabir’s income was ₹220 and the profit was ₹50. One expense was ₹30 (posters). How much was the other expense, for sugar (in ₹)?
12. 12.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) tutoring fees received (d) printing posters
13. 13.Farhan’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹190 (posters)
    Expense: ₹140 (stall fee)
    What is the profit (in ₹)?
14. 14.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) payment for a cake order (d) bus fare to the market
15. 15.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) income − expenses (d) just the income
16. 16.True or false: “money from sales” is an expense (money out). (a) True (b) False
17. 17.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
18. 18.True or false: “a card order paid” is an expense (money out). (a) True (b) False
19. 19.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
20. 20.Kabir’s stall took in ₹340 on Friday, ₹200 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
21. 21.Vihaan’s stall took in ₹50 on Friday, ₹50 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
22. 22.Farhan’s stall took in ₹130 on Friday, ₹390 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
23. 23.Which of these is an expense (money out)? (a) buying lemons (b) money from sales (c) payment for a cake order (d) tutoring fees received
24. 24.📒 Income or expense: buying lemons? (a) income (b) expense
25. 25.Saanvi’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹160 (transport)
    Expense: ₹60 (lemons)
    What is the profit (in ₹)?
26. 26.📒 Income or expense: paying the stall fee? (a) income (b) expense
27. 27.Nisha’s income was ₹190 and the profit was ₹150. One expense was ₹20 (lemons). How much was the other expense, for paper cups (in ₹)?
28. 28.Gurpreet’s stall took in ₹130 on Friday, ₹380 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
29. 29.Lakshmi’s income was ₹310 and the profit was ₹220. One expense was ₹80 (sugar). How much was the other expense, for posters (in ₹)?
30. 30.📒 Income or expense: printing posters? (a) expense (b) income
31. 31.Tara’s stall took in ₹130 on Friday, ₹110 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
32. 32.Meera’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹50 (paper cups)
    Expense: ₹140 (lemons)
    How much is the loss (in ₹)?
33. 33.Aarav’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹130 (paper cups)
    Expense: ₹70 (card paper)
    What is the profit (in ₹)?
34. 34.True or false: “printing posters” is income (money in). (a) True (b) False
35. 35.Which of these is an expense (money out)? (a) paying the stall fee (b) a card order paid (c) payment for a cake order (d) money from sales
36. 36.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
37. 37.Arjun’s stall took in ₹50 on Friday, ₹330 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
38. 38.📒 Income or expense: payment for a cake order? (a) expense (b) income
39. 39.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
40. 40.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to look busy (d) to fill a notebook

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