Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 432 · 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.Which of these is income (money in)? (a) printing posters (b) cash from selling plants (c) paying the stall fee (d) bus fare to the market
2. 2.📒 Income or expense: money from sales? (a) expense (b) income
3. 3.Meera’s income was ₹360 and the profit was ₹110. One expense was ₹220 (transport). How much was the other expense, for paper cups (in ₹)?
4. 4.📒 Income or expense: printing posters? (a) expense (b) income
5. 5.Zoya’s record for a rainy day:
   Income: ₹260 (sales)
   Expense: ₹250 (ribbon)
   Expense: ₹30 (posters)
   How much is the loss (in ₹)?
6. 6.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) only the bag (d) nothing
7. 7.➖ Profit in your records = (a) expenses − income (b) just the income (c) income + expenses (d) income − expenses
8. 8.Diya’s income was ₹280 and the profit was ₹200. One expense was ₹40 (paper cups). How much was the other expense, for card paper (in ₹)?
9. 9.Joseph’s income was ₹100 and the profit was ₹60. One expense was ₹20 (paper cups). How much was the other expense, for posters (in ₹)?
10. 10.True or false: “cash from selling plants” is income (money in). (a) False (b) True
11. 11.📒 Income or expense: bus fare to the market? (a) income (b) expense
12. 12.True or false: “a card order paid” is an expense (money out). (a) False (b) True
13. 13.Rohan’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹170 (posters)
    Expense: ₹180 (lemons)
    What is the profit (in ₹)?
14. 14.Which of these is income (money in)? (a) buying paper cups (b) payment for a cake order (c) buying lemons (d) bus fare to the market
15. 15.📒 Income or expense: buying lemons? (a) expense (b) income
16. 16.Nisha’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹150 (transport)
    Expense: ₹40 (lemons)
    What is the profit (in ₹)?
17. 17.📒 Income or expense: cash from selling plants? (a) expense (b) income
18. 18.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
19. 19.Nisha’s stall took in ₹120 on Friday, ₹70 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
20. 20.Zoya’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹170 (ribbon)
    Expense: ₹200 (card paper)
    How much is the loss (in ₹)?
21. 21.Zoya’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹30 (paper cups)
    Expense: ₹170 (transport)
    How much is the loss (in ₹)?
22. 22.Which of these is an expense (money out)? (a) buying paper cups (b) money from sales (c) cash from selling plants (d) tutoring fees received
23. 23.Aarav’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹130 (sugar)
    Expense: ₹10 (ribbon)
    How much is the loss (in ₹)?
24. 24.📒 Income or expense: tutoring fees received? (a) income (b) expense
25. 25.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) to fill a notebook (d) no reason
26. 26.Dev’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹70 (card paper)
    Expense: ₹200 (lemons)
    How much is the loss (in ₹)?
27. 27.Kabir’s income was ₹410 and the profit was ₹390. One expense was ₹10 (lemons). How much was the other expense, for stall fee (in ₹)?
28. 28.📒 Income or expense: paying the stall fee? (a) expense (b) income
29. 29.Which of these is an expense (money out)? (a) tutoring fees received (b) buying lemons (c) cash from selling plants (d) money from sales
30. 30.Arjun’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹150 (paper cups)
    Expense: ₹20 (posters)
    What is the profit (in ₹)?
31. 31.Which of these is an expense (money out)? (a) tutoring fees received (b) printing posters (c) a card order paid (d) money from sales
32. 32.Kabir’s income was ₹160 and the profit was ₹110. One expense was ₹20 (lemons). How much was the other expense, for card paper (in ₹)?
33. 33.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) once a year (d) never
34. 34.Kabir’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹110 (paper cups)
    Expense: ₹90 (lemons)
    What is the profit (in ₹)?
35. 35.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) paying the stall fee (d) money from sales
36. 36.📒 Income or expense: buying paper cups? (a) expense (b) income
37. 37.Kavya’s income was ₹130 and the profit was ₹20. One expense was ₹70 (card paper). How much was the other expense, for paper cups (in ₹)?
38. 38.Kabir’s income was ₹260 and the profit was ₹140. One expense was ₹40 (posters). How much was the other expense, for sugar (in ₹)?
39. 39.Gurpreet’s stall took in ₹190 on Friday, ₹70 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
40. 40.Aarav’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹30 (lemons)
    Expense: ₹40 (card paper)
    How much is the loss (in ₹)?

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