Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 467 · 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.Saanvi’s income was ₹440 and the profit was ₹210. One expense was ₹110 (lemons). How much was the other expense, for sugar (in ₹)?
2. 2.📒 Income or expense: tutoring fees received? (a) income (b) expense
3. 3.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
4. 4.Which of these is income (money in)? (a) paying the stall fee (b) tutoring fees received (c) printing posters (d) bus fare to the market
5. 5.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) tutoring fees received (d) buying lemons
6. 6.True or false: “payment for a cake order” is income (money in). (a) False (b) True
7. 7.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) bus fare to the market (d) cash from selling plants
8. 8.Gurpreet’s income was ₹300 and the profit was ₹180. One expense was ₹70 (lemons). How much was the other expense, for sugar (in ₹)?
9. 9.Which of these is an expense (money out)? (a) payment for a cake order (b) printing posters (c) tutoring fees received (d) money from sales
10. 10.Diya’s stall took in ₹190 on Friday, ₹330 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
11. 11.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) cash from selling plants (d) buying lemons
12. 12.True or false: “a card order paid” is an expense (money out). (a) False (b) True
13. 13.Ananya’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹10 (posters)
    Expense: ₹220 (card paper)
    How much is the loss (in ₹)?
14. 14.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to fill a notebook (d) to look busy
15. 15.True or false: “printing posters” is income (money in). (a) True (b) False
16. 16.📒 Income or expense: buying paper cups? (a) income (b) expense
17. 17.Farhan’s stall took in ₹110 on Friday, ₹390 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
18. 18.Nisha’s record for the day:
    Income: ₹360 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹80 (paper cups)
    What is the profit (in ₹)?
19. 19.True or false: “a card order paid” is income (money in). (a) False (b) True
20. 20.Vihaan’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹80 (ribbon)
    Expense: ₹30 (lemons)
    What is the profit (in ₹)?
21. 21.Lakshmi’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹60 (card paper)
    Expense: ₹70 (posters)
    What is the profit (in ₹)?
22. 22.Saanvi’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹30 (sugar)
    What is the profit (in ₹)?
23. 23.📒 Income or expense: money from sales? (a) expense (b) income
24. 24.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
25. 25.Aarav’s income was ₹130 and the profit was ₹20. One expense was ₹10 (ribbon). How much was the other expense, for transport (in ₹)?
26. 26.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
27. 27.Rohan’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹60 (transport)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?
28. 28.📒 Income or expense: printing posters? (a) income (b) expense
29. 29.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
30. 30.📒 Income or expense: bus fare to the market? (a) expense (b) income
31. 31.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) buying paper cups (d) a card order paid
32. 32.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) a card order paid (d) paying the stall fee
33. 33.📒 Income or expense: paying the stall fee? (a) income (b) expense
34. 34.Farhan’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹100 (transport)
    What is the profit (in ₹)?
35. 35.Ishaan’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹100 (transport)
    Expense: ₹40 (ribbon)
    How much is the loss (in ₹)?
36. 36.📒 Income or expense: a card order paid? (a) income (b) expense
37. 37.Arjun’s income was ₹310 and the profit was ₹160. One expense was ₹60 (paper cups). How much was the other expense, for lemons (in ₹)?
38. 38.True or false: “paying the stall fee” is income (money in). (a) False (b) True
39. 39.Meera’s income was ₹210 and the profit was ₹30. One expense was ₹20 (posters). How much was the other expense, for transport (in ₹)?
40. 40.Riya’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹10 (stall fee)
    Expense: ₹140 (lemons)
    How much is the loss (in ₹)?

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