Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 498 · 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.Diya’s record for a rainy day:
   Income: ₹230 (sales)
   Expense: ₹220 (card paper)
   Expense: ₹90 (sugar)
   How much is the loss (in ₹)?
2. 2.Kabir’s record for the day:
   Income: ₹220 (morning sales)
   Income: ₹90 (evening sales)
   Expense: ₹150 (lemons)
   Expense: ₹60 (stall fee)
   What is the profit (in ₹)?
3. 3.Kabir’s stall took in ₹340 on Friday, ₹60 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
4. 4.📒 Income or expense: a card order paid? (a) expense (b) income
5. 5.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) income + expenses (d) just the income
6. 6.True or false: “buying paper cups” is income (money in). (a) False (b) True
7. 7.Ishaan’s stall took in ₹60 on Friday, ₹110 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
8. 8.Gurpreet’s record for the day:
   Income: ₹110 (morning sales)
   Income: ₹260 (evening sales)
   Expense: ₹30 (sugar)
   Expense: ₹70 (posters)
   What is the profit (in ₹)?
9. 9.True or false: “printing posters” is an expense (money out). (a) True (b) False
10. 10.Which of these is an expense (money out)? (a) buying paper cups (b) payment for a cake order (c) a card order paid (d) tutoring fees received
11. 11.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
12. 12.📒 Income or expense: bus fare to the market? (a) expense (b) income
13. 13.True or false: “cash from selling plants” is income (money in). (a) True (b) False
14. 14.True or false: “bus fare to the market” is income (money in). (a) True (b) False
15. 15.Which of these is income (money in)? (a) bus fare to the market (b) tutoring fees received (c) paying the stall fee (d) buying lemons
16. 16.📒 Income or expense: buying lemons? (a) expense (b) income
17. 17.📒 Income or expense: tutoring fees received? (a) income (b) expense
18. 18.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) buying lemons (d) payment for a cake order
19. 19.Farhan’s income was ₹180 and the profit was ₹30. One expense was ₹100 (stall fee). How much was the other expense, for ribbon (in ₹)?
20. 20.Zoya’s income was ₹300 and the profit was ₹200. One expense was ₹20 (paper cups). How much was the other expense, for stall fee (in ₹)?
21. 21.📒 Income or expense: payment for a cake order? (a) expense (b) income
22. 22.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
23. 23.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) payment for a cake order (d) printing posters
24. 24.Diya’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹30 (posters)
    Expense: ₹120 (paper cups)
    How much is the loss (in ₹)?
25. 25.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) cash from selling plants (d) paying the stall fee
26. 26.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to fill a notebook (d) to look busy
27. 27.Dev’s stall took in ₹180 on Friday, ₹350 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
28. 28.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt
29. 29.📒 Income or expense: printing posters? (a) expense (b) income
30. 30.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) paying the stall fee (d) money from sales
31. 31.True or false: “buying lemons” is income (money in). (a) False (b) True
32. 32.True or false: “money from sales” is an expense (money out). (a) False (b) True
33. 33.Diya’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹30 (posters)
    Expense: ₹90 (card paper)
    How much is the loss (in ₹)?
34. 34.📒 Income or expense: cash from selling plants? (a) expense (b) income
35. 35.Rohan’s record for the day:
    Income: ₹360 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹170 (sugar)
    Expense: ₹140 (ribbon)
    What is the profit (in ₹)?
36. 36.True or false: “a card order paid” is income (money in). (a) True (b) False
37. 37.📒 Income or expense: money from sales? (a) expense (b) income
38. 38.Zoya’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹90 (card paper)
    What is the profit (in ₹)?
39. 39.Ananya’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹320 (transport)
    Expense: ₹20 (ribbon)
    How much is the loss (in ₹)?
40. 40.True or false: “printing posters” is income (money in). (a) True (b) False

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