Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 515 · 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 stall took in ₹180 on Friday, ₹240 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
2. 2.Ananya’s stall took in ₹240 on Friday, ₹50 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
3. 3.Nisha’s income was ₹110 and the profit was ₹90. One expense was ₹10 (card paper). How much was the other expense, for sugar (in ₹)?
4. 4.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) the same day (d) never
5. 5.True or false: “money from sales” is income (money in). (a) False (b) True
6. 6.Dev’s stall took in ₹320 on Friday, ₹110 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
7. 7.📒 Income or expense: printing posters? (a) income (b) expense
8. 8.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to know the real profit (d) to look busy
9. 9.Dev’s record for the day:
   Income: ₹50 (morning sales)
   Income: ₹60 (evening sales)
   Expense: ₹30 (ribbon)
   Expense: ₹60 (transport)
   What is the profit (in ₹)?
10. 10.📒 Income or expense: bus fare to the market? (a) income (b) expense
11. 11.➖ Profit in your records = (a) expenses − income (b) just the income (c) income + expenses (d) income − expenses
12. 12.Dev’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹100 (transport)
    Expense: ₹240 (posters)
    How much is the loss (in ₹)?
13. 13.Diya’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹230 (posters)
    Expense: ₹30 (ribbon)
    How much is the loss (in ₹)?
14. 14.Aarav’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹120 (lemons)
    Expense: ₹40 (transport)
    What is the profit (in ₹)?
15. 15.Ananya’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹510 (evening sales)
    Expense: ₹170 (sugar)
    Expense: ₹90 (lemons)
    What is the profit (in ₹)?
16. 16.Saanvi’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹30 (lemons)
    Expense: ₹50 (sugar)
    How much is the loss (in ₹)?
17. 17.True or false: “a card order paid” is an expense (money out). (a) True (b) False
18. 18.Farhan’s income was ₹260 and the profit was ₹180. One expense was ₹10 (stall fee). How much was the other expense, for paper cups (in ₹)?
19. 19.Gurpreet’s stall took in ₹110 on Friday, ₹110 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
20. 20.True or false: “tutoring fees received” is income (money in). (a) False (b) True
21. 21.Tara’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹110 (card paper)
    Expense: ₹30 (transport)
    How much is the loss (in ₹)?
22. 22.Meera’s income was ₹360 and the profit was ₹80. One expense was ₹160 (lemons). How much was the other expense, for posters (in ₹)?
23. 23.Kavya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹80 (ribbon)
    Expense: ₹40 (lemons)
    What is the profit (in ₹)?
24. 24.Meera’s stall took in ₹80 on Friday, ₹270 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
25. 25.Kabir’s stall took in ₹290 on Friday, ₹350 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
26. 26.Rohan’s stall took in ₹380 on Friday, ₹310 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
27. 27.Which of these is income (money in)? (a) printing posters (b) payment for a cake order (c) buying paper cups (d) buying lemons
28. 28.Riya’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹510 (evening sales)
    Expense: ₹130 (stall fee)
    Expense: ₹180 (sugar)
    What is the profit (in ₹)?
29. 29.📒 Income or expense: cash from selling plants? (a) expense (b) income
30. 30.Lakshmi’s income was ₹110 and the profit was ₹70. One expense was ₹30 (transport). How much was the other expense, for stall fee (in ₹)?
31. 31.Aarav’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹190 (posters)
    Expense: ₹20 (transport)
    How much is the loss (in ₹)?
32. 32.Kavya’s stall took in ₹240 on Friday, ₹230 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
33. 33.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
34. 34.Farhan’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹200 (lemons)
    Expense: ₹100 (transport)
    What is the profit (in ₹)?
35. 35.Which of these is an expense (money out)? (a) cash from selling plants (b) printing posters (c) tutoring fees received (d) money from sales
36. 36.📒 Income or expense: tutoring fees received? (a) expense (b) income
37. 37.Farhan’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹10 (card paper)
    Expense: ₹280 (stall fee)
    How much is the loss (in ₹)?
38. 38.📒 Income or expense: paying the stall fee? (a) expense (b) income
39. 39.Saanvi’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹80 (paper cups)
    Expense: ₹120 (stall fee)
    How much is the loss (in ₹)?
40. 40.Vihaan’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹160 (posters)
    Expense: ₹140 (transport)
    What is the profit (in ₹)?

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