Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 386 · 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.📒 Income or expense: buying lemons? (a) income (b) expense
2. 2.📒 Income or expense: tutoring fees received? (a) income (b) expense
3. 3.Which of these is an expense (money out)? (a) buying lemons (b) cash from selling plants (c) tutoring fees received (d) money from sales
4. 4.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) the same day (d) never
5. 5.📒 Income or expense: printing posters? (a) income (b) expense
6. 6.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) payment for a cake order (d) bus fare to the market
7. 7.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
8. 8.Which of these is income (money in)? (a) buying lemons (b) payment for a cake order (c) printing posters (d) paying the stall fee
9. 9.📒 Income or expense: cash from selling plants? (a) expense (b) income
10. 10.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) paying the stall fee (d) tutoring fees received
11. 11.Gurpreet’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹100 (sugar)
    Expense: ₹70 (paper cups)
    How much is the loss (in ₹)?
12. 12.➖ Profit in your records = (a) income − expenses (b) just the income (c) income + expenses (d) expenses − income
13. 13.📒 Income or expense: payment for a cake order? (a) expense (b) income
14. 14.Joseph’s stall took in ₹240 on Friday, ₹50 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
15. 15.True or false: “buying paper cups” is income (money in). (a) True (b) False
16. 16.📒 Income or expense: paying the stall fee? (a) expense (b) income
17. 17.Kabir’s stall took in ₹300 on Friday, ₹320 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
18. 18.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) a selfie (d) the bill or receipt
19. 19.Farhan’s stall took in ₹190 on Friday, ₹110 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
20. 20.Lakshmi’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹30 (transport)
    Expense: ₹210 (paper cups)
    How much is the loss (in ₹)?
21. 21.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) payment for a cake order (d) buying paper cups
22. 22.Tara’s income was ₹110 and the profit was ₹50. One expense was ₹30 (ribbon). How much was the other expense, for sugar (in ₹)?
23. 23.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to know the real profit (d) to fill a notebook
24. 24.True or false: “money from sales” is income (money in). (a) False (b) True
25. 25.Diya’s income was ₹140 and the profit was ₹90. One expense was ₹20 (paper cups). How much was the other expense, for stall fee (in ₹)?
26. 26.Lakshmi’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹30 (stall fee)
    Expense: ₹190 (card paper)
    What is the profit (in ₹)?
27. 27.Tara’s stall took in ₹380 on Friday, ₹240 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
28. 28.Diya’s income was ₹310 and the profit was ₹210. One expense was ₹50 (lemons). How much was the other expense, for transport (in ₹)?
29. 29.Ananya’s income was ₹180 and the profit was ₹160. One expense was ₹10 (lemons). How much was the other expense, for stall fee (in ₹)?
30. 30.True or false: “payment for a cake order” is income (money in). (a) True (b) False
31. 31.Nisha’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹30 (ribbon)
    Expense: ₹180 (stall fee)
    What is the profit (in ₹)?
32. 32.Saanvi’s record for the day:
    Income: ₹370 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹170 (stall fee)
    Expense: ₹160 (paper cups)
    What is the profit (in ₹)?
33. 33.Dev’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹120 (paper cups)
    Expense: ₹170 (stall fee)
    What is the profit (in ₹)?
34. 34.Ishaan’s income was ₹390 and the profit was ₹40. One expense was ₹50 (transport). How much was the other expense, for ribbon (in ₹)?
35. 35.Which of these is an expense (money out)? (a) cash from selling plants (b) paying the stall fee (c) a card order paid (d) tutoring fees received
36. 36.Lakshmi’s record for the day:
    Income: ₹560 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹190 (paper cups)
    Expense: ₹160 (sugar)
    What is the profit (in ₹)?
37. 37.Joseph’s stall took in ₹50 on Friday, ₹100 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
38. 38.Kabir’s stall took in ₹240 on Friday, ₹270 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
39. 39.Which of these is income (money in)? (a) a card order paid (b) bus fare to the market (c) buying paper cups (d) paying the stall fee
40. 40.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) bus fare to the market (d) money from sales

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