Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 364 · 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.Kavya’s income was ₹450 and the profit was ₹230. One expense was ₹200 (transport). How much was the other expense, for lemons (in ₹)?
2. 2.Kavya’s stall took in ₹70 on Friday, ₹190 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
3. 3.Joseph’s stall took in ₹350 on Friday, ₹400 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
4. 4.Riya’s record for a rainy day:
   Income: ₹240 (sales)
   Expense: ₹270 (stall fee)
   Expense: ₹60 (lemons)
   How much is the loss (in ₹)?
5. 5.True or false: “money from sales” is an expense (money out). (a) False (b) True
6. 6.Gurpreet’s record for a rainy day:
   Income: ₹110 (sales)
   Expense: ₹80 (paper cups)
   Expense: ₹40 (sugar)
   How much is the loss (in ₹)?
7. 7.Saanvi’s income was ₹480 and the profit was ₹300. One expense was ₹70 (sugar). How much was the other expense, for paper cups (in ₹)?
8. 8.📒 Income or expense: paying the stall fee? (a) income (b) expense
9. 9.📒 Income or expense: buying lemons? (a) income (b) expense
10. 10.Aarav’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹30 (sugar)
    Expense: ₹30 (posters)
    What is the profit (in ₹)?
11. 11.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) cash from selling plants (d) bus fare to the market
12. 12.Tara’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹50 (transport)
    Expense: ₹20 (paper cups)
    How much is the loss (in ₹)?
13. 13.Saanvi’s stall took in ₹270 on Friday, ₹190 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
14. 14.True or false: “bus fare to the market” is income (money in). (a) False (b) True
15. 15.📒 Income or expense: bus fare to the market? (a) income (b) expense
16. 16.Ananya’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹40 (stall fee)
    Expense: ₹270 (card paper)
    How much is the loss (in ₹)?
17. 17.Joseph’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹150 (card paper)
    Expense: ₹70 (paper cups)
    What is the profit (in ₹)?
18. 18.Ishaan’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹50 (card paper)
    Expense: ₹20 (posters)
    What is the profit (in ₹)?
19. 19.Nisha’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹40 (posters)
    Expense: ₹310 (card paper)
    How much is the loss (in ₹)?
20. 20.True or false: “a card order paid” is an expense (money out). (a) True (b) False
21. 21.True or false: “paying the stall fee” is income (money in). (a) True (b) False
22. 22.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to know the real profit (d) to look busy
23. 23.Lakshmi’s income was ₹180 and the profit was ₹160. One expense was ₹10 (sugar). How much was the other expense, for card paper (in ₹)?
24. 24.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) the bill or receipt (d) a selfie
25. 25.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) never (d) the same day
26. 26.Aarav’s income was ₹160 and the profit was ₹50. One expense was ₹40 (card paper). How much was the other expense, for paper cups (in ₹)?
27. 27.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) printing posters (d) tutoring fees received
28. 28.True or false: “cash from selling plants” is income (money in). (a) False (b) True
29. 29.Diya’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹90 (card paper)
    Expense: ₹170 (stall fee)
    What is the profit (in ₹)?
30. 30.Which of these is income (money in)? (a) cash from selling plants (b) bus fare to the market (c) buying lemons (d) buying paper cups
31. 31.📒 Income or expense: payment for a cake order? (a) income (b) expense
32. 32.Farhan’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹120 (card paper)
    Expense: ₹170 (lemons)
    How much is the loss (in ₹)?
33. 33.Rohan’s income was ₹130 and the profit was ₹20. One expense was ₹60 (ribbon). How much was the other expense, for posters (in ₹)?
34. 34.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) payment for a cake order (d) buying paper cups
35. 35.Which of these is income (money in)? (a) bus fare to the market (b) a card order paid (c) paying the stall fee (d) buying lemons
36. 36.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
37. 37.Kabir’s income was ₹370 and the profit was ₹240. One expense was ₹10 (paper cups). How much was the other expense, for card paper (in ₹)?
38. 38.📒 Income or expense: cash from selling plants? (a) expense (b) income
39. 39.Kavya’s stall took in ₹150 on Friday, ₹70 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
40. 40.Nisha’s stall took in ₹390 on Friday, ₹170 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?

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