Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 468 · 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.Ananya’s income was ₹470 and the profit was ₹360. One expense was ₹30 (paper cups). How much was the other expense, for sugar (in ₹)?
2. 2.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) never (d) the same day
3. 3.Which of these is an expense (money out)? (a) buying lemons (b) tutoring fees received (c) a card order paid (d) money from sales
4. 4.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) cash from selling plants (d) paying the stall fee
5. 5.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
6. 6.Which of these is income (money in)? (a) bus fare to the market (b) money from sales (c) buying paper cups (d) buying lemons
7. 7.Kabir’s record for the day:
   Income: ₹250 (morning sales)
   Income: ₹310 (evening sales)
   Expense: ₹200 (lemons)
   Expense: ₹200 (ribbon)
   What is the profit (in ₹)?
8. 8.True or false: “a card order paid” is income (money in). (a) False (b) True
9. 9.Joseph’s record for a rainy day:
   Income: ₹280 (sales)
   Expense: ₹50 (paper cups)
   Expense: ₹250 (transport)
   How much is the loss (in ₹)?
10. 10.Which of these is income (money in)? (a) cash from selling plants (b) buying paper cups (c) paying the stall fee (d) printing posters
11. 11.Gurpreet’s income was ₹490 and the profit was ₹210. One expense was ₹160 (lemons). How much was the other expense, for stall fee (in ₹)?
12. 12.True or false: “tutoring fees received” is income (money in). (a) False (b) True
13. 13.Ananya’s stall took in ₹90 on Friday, ₹250 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
14. 14.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) buying paper cups (d) cash from selling plants
15. 15.Lakshmi’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹180 (lemons)
    Expense: ₹30 (transport)
    What is the profit (in ₹)?
16. 16.📒 Income or expense: money from sales? (a) expense (b) income
17. 17.📒 Income or expense: printing posters? (a) income (b) expense
18. 18.Saanvi’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹20 (posters)
    Expense: ₹70 (sugar)
    What is the profit (in ₹)?
19. 19.Which of these is income (money in)? (a) buying lemons (b) a card order paid (c) printing posters (d) paying the stall fee
20. 20.Which of these is an expense (money out)? (a) bus fare to the market (b) tutoring fees received (c) a card order paid (d) payment for a cake order
21. 21.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) buying paper cups (d) payment for a cake order
22. 22.Aarav’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹190 (transport)
    Expense: ₹110 (ribbon)
    What is the profit (in ₹)?
23. 23.Nisha’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹140 (stall fee)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
24. 24.True or false: “buying paper cups” is income (money in). (a) True (b) False
25. 25.📒 Income or expense: tutoring fees received? (a) expense (b) income
26. 26.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) expenses − income (d) just the income
27. 27.Aarav’s income was ₹140 and the profit was ₹70. One expense was ₹30 (stall fee). How much was the other expense, for card paper (in ₹)?
28. 28.Gurpreet’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹30 (posters)
    Expense: ₹170 (card paper)
    What is the profit (in ₹)?
29. 29.Joseph’s stall took in ₹300 on Friday, ₹90 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
30. 30.Riya’s income was ₹300 and the profit was ₹110. One expense was ₹110 (stall fee). How much was the other expense, for lemons (in ₹)?
31. 31.Diya’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹50 (ribbon)
    Expense: ₹240 (paper cups)
    How much is the loss (in ₹)?
32. 32.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) a selfie (d) nothing
33. 33.📒 Income or expense: a card order paid? (a) expense (b) income
34. 34.Gurpreet’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹40 (sugar)
    Expense: ₹200 (lemons)
    What is the profit (in ₹)?
35. 35.Saanvi’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹170 (transport)
    Expense: ₹170 (sugar)
    What is the profit (in ₹)?
36. 36.Saanvi’s income was ₹120 and the profit was ₹100. One expense was ₹10 (ribbon). How much was the other expense, for lemons (in ₹)?
37. 37.True or false: “money from sales” is income (money in). (a) False (b) True
38. 38.📒 Income or expense: bus fare to the market? (a) income (b) expense
39. 39.Ishaan’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹90 (transport)
    Expense: ₹230 (stall fee)
    How much is the loss (in ₹)?
40. 40.Dev’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹100 (card paper)
    Expense: ₹120 (paper cups)
    What is the profit (in ₹)?

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