Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 387 · 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) expense (b) income
2. 2.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) never (d) once a year
3. 3.Saanvi’s income was ₹480 and the profit was ₹420. One expense was ₹10 (lemons). How much was the other expense, for sugar (in ₹)?
4. 4.Joseph’s record for the day:
   Income: ₹10 (morning sales)
   Income: ₹90 (evening sales)
   Expense: ₹50 (transport)
   Expense: ₹30 (ribbon)
   What is the profit (in ₹)?
5. 5.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) tutoring fees received (d) buying lemons
6. 6.📒 Income or expense: a card order paid? (a) expense (b) income
7. 7.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) cash from selling plants (d) buying lemons
8. 8.Rohan’s record for the day:
   Income: ₹50 (morning sales)
   Income: ₹110 (evening sales)
   Expense: ₹70 (transport)
   Expense: ₹20 (ribbon)
   What is the profit (in ₹)?
9. 9.Vihaan’s record for a rainy day:
   Income: ₹300 (sales)
   Expense: ₹100 (posters)
   Expense: ₹220 (sugar)
   How much is the loss (in ₹)?
10. 10.📒 Income or expense: cash from selling plants? (a) income (b) expense
11. 11.Aarav’s income was ₹470 and the profit was ₹240. One expense was ₹60 (transport). How much was the other expense, for ribbon (in ₹)?
12. 12.📒 Income or expense: payment for a cake order? (a) expense (b) income
13. 13.Dev’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹100 (transport)
    Expense: ₹40 (card paper)
    How much is the loss (in ₹)?
14. 14.Gurpreet’s income was ₹150 and the profit was ₹80. One expense was ₹10 (posters). How much was the other expense, for card paper (in ₹)?
15. 15.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) payment for a cake order (d) bus fare to the market
16. 16.Which of these is an expense (money out)? (a) payment for a cake order (b) printing posters (c) tutoring fees received (d) a card order paid
17. 17.Joseph’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹40 (transport)
    Expense: ₹40 (paper cups)
    How much is the loss (in ₹)?
18. 18.📒 Income or expense: tutoring fees received? (a) income (b) expense
19. 19.Vihaan’s income was ₹410 and the profit was ₹200. One expense was ₹150 (paper cups). How much was the other expense, for ribbon (in ₹)?
20. 20.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
21. 21.📒 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
22. 22.True or false: “printing posters” is an expense (money out). (a) True (b) False
23. 23.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) printing posters (d) money from sales
24. 24.Saanvi’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹70 (stall fee)
    Expense: ₹30 (transport)
    How much is the loss (in ₹)?
25. 25.True or false: “payment for a cake order” is income (money in). (a) False (b) True
26. 26.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) only the bag (d) nothing
27. 27.Aarav’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹180 (transport)
    Expense: ₹60 (paper cups)
    How much is the loss (in ₹)?
28. 28.Aarav’s income was ₹130 and the profit was ₹80. One expense was ₹10 (paper cups). How much was the other expense, for posters (in ₹)?
29. 29.Diya’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹560 (evening sales)
    Expense: ₹150 (card paper)
    Expense: ₹170 (posters)
    What is the profit (in ₹)?
30. 30.Aarav’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹150 (paper cups)
    Expense: ₹80 (stall fee)
    What is the profit (in ₹)?
31. 31.Arjun’s stall took in ₹160 on Friday, ₹100 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
32. 32.📒 Income or expense: bus fare to the market? (a) income (b) expense
33. 33.Aarav’s stall took in ₹290 on Friday, ₹210 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
34. 34.Zoya’s income was ₹380 and the profit was ₹70. One expense was ₹20 (ribbon). How much was the other expense, for sugar (in ₹)?
35. 35.Kabir’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹90 (card paper)
    Expense: ₹150 (sugar)
    What is the profit (in ₹)?
36. 36.Meera’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹40 (lemons)
    Expense: ₹130 (posters)
    How much is the loss (in ₹)?
37. 37.Kabir’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹130 (stall fee)
    Expense: ₹70 (card paper)
    What is the profit (in ₹)?
38. 38.Meera’s income was ₹180 and the profit was ₹50. One expense was ₹20 (posters). How much was the other expense, for transport (in ₹)?
39. 39.Vihaan’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹80 (transport)
    Expense: ₹10 (paper cups)
    How much is the loss (in ₹)?
40. 40.Arjun’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹40 (lemons)
    Expense: ₹90 (transport)
    How much is the loss (in ₹)?

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