Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 488 · 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.➖ Profit in your records = (a) income − expenses (b) just the income (c) expenses − income (d) income + expenses
2. 2.True or false: “tutoring fees received” is income (money in). (a) True (b) False
3. 3.True or false: “a card order paid” is an expense (money out). (a) True (b) False
4. 4.Arjun’s record for a rainy day:
   Income: ₹50 (sales)
   Expense: ₹100 (lemons)
   Expense: ₹10 (posters)
   How much is the loss (in ₹)?
5. 5.Farhan’s income was ₹370 and the profit was ₹120. One expense was ₹210 (stall fee). How much was the other expense, for sugar (in ₹)?
6. 6.📒 Income or expense: buying paper cups? (a) expense (b) income
7. 7.Rohan’s income was ₹430 and the profit was ₹60. One expense was ₹70 (stall fee). How much was the other expense, for posters (in ₹)?
8. 8.📒 Income or expense: bus fare to the market? (a) income (b) expense
9. 9.Kabir’s income was ₹270 and the profit was ₹200. One expense was ₹10 (posters). How much was the other expense, for paper cups (in ₹)?
10. 10.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to look busy (d) to fill a notebook
11. 11.Nisha’s stall took in ₹210 on Friday, ₹210 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
12. 12.Meera’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹120 (stall fee)
    Expense: ₹60 (transport)
    What is the profit (in ₹)?
13. 13.Farhan’s income was ₹150 and the profit was ₹120. One expense was ₹10 (ribbon). How much was the other expense, for card paper (in ₹)?
14. 14.Aarav’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹160 (transport)
    Expense: ₹70 (stall fee)
    How much is the loss (in ₹)?
15. 15.True or false: “bus fare to the market” is income (money in). (a) True (b) False
16. 16.Saanvi’s income was ₹450 and the profit was ₹220. One expense was ₹120 (ribbon). How much was the other expense, for lemons (in ₹)?
17. 17.True or false: “payment for a cake order” is income (money in). (a) False (b) True
18. 18.Arjun’s stall took in ₹80 on Friday, ₹60 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
19. 19.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) printing posters (d) tutoring fees received
20. 20.Which of these is income (money in)? (a) cash from selling plants (b) paying the stall fee (c) buying lemons (d) buying paper cups
21. 21.Zoya’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹100 (posters)
    Expense: ₹10 (lemons)
    How much is the loss (in ₹)?
22. 22.Diya’s stall took in ₹260 on Friday, ₹370 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
23. 23.📒 Income or expense: payment for a cake order? (a) expense (b) income
24. 24.📒 Income or expense: printing posters? (a) expense (b) income
25. 25.True or false: “buying lemons” is income (money in). (a) True (b) False
26. 26.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
27. 27.📒 Income or expense: money from sales? (a) expense (b) income
28. 28.📒 Income or expense: tutoring fees received? (a) income (b) expense
29. 29.📒 Income or expense: buying lemons? (a) expense (b) income
30. 30.🧾 What should you keep after buying supplies? (a) only the bag (b) a selfie (c) nothing (d) the bill or receipt
31. 31.Ananya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹50 (stall fee)
    Expense: ₹40 (transport)
    What is the profit (in ₹)?
32. 32.Tara’s stall took in ₹180 on Friday, ₹260 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
33. 33.Which of these is income (money in)? (a) paying the stall fee (b) tutoring fees received (c) buying lemons (d) bus fare to the market
34. 34.Farhan’s stall took in ₹150 on Friday, ₹160 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
35. 35.Meera’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹20 (lemons)
    Expense: ₹50 (stall fee)
    What is the profit (in ₹)?
36. 36.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) buying lemons (d) payment for a cake order
37. 37.Kabir’s stall took in ₹50 on Friday, ₹360 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
38. 38.Tara’s stall took in ₹310 on Friday, ₹90 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
39. 39.Arjun’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹200 (ribbon)
    Expense: ₹40 (card paper)
    How much is the loss (in ₹)?
40. 40.Ananya’s income was ₹460 and the profit was ₹120. One expense was ₹10 (paper cups). How much was the other expense, for lemons (in ₹)?

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