Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 517 · 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.True or false: “money from sales” is income (money in). (a) False (b) True
2. 2.Ishaan’s income was ₹390 and the profit was ₹230. One expense was ₹70 (sugar). How much was the other expense, for card paper (in ₹)?
3. 3.Dev’s record for the day:
   Income: ₹170 (morning sales)
   Income: ₹140 (evening sales)
   Expense: ₹40 (ribbon)
   Expense: ₹120 (transport)
   What is the profit (in ₹)?
4. 4.Which of these is an expense (money out)? (a) buying lemons (b) cash from selling plants (c) payment for a cake order (d) money from sales
5. 5.True or false: “paying the stall fee” is income (money in). (a) False (b) True
6. 6.Rohan’s income was ₹330 and the profit was ₹190. One expense was ₹60 (transport). How much was the other expense, for paper cups (in ₹)?
7. 7.📒 Income or expense: tutoring fees received? (a) income (b) expense
8. 8.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) paying the stall fee (d) money from sales
9. 9.True or false: “tutoring fees received” is income (money in). (a) False (b) True
10. 10.📒 Income or expense: payment for a cake order? (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.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) a card order paid (d) buying lemons
13. 13.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to know the real profit (d) to fill a notebook
14. 14.Dev’s stall took in ₹400 on Friday, ₹350 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
15. 15.True or false: “printing posters” is income (money in). (a) False (b) True
16. 16.Meera’s stall took in ₹350 on Friday, ₹400 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
17. 17.True or false: “buying lemons” is an expense (money out). (a) True (b) False
18. 18.True or false: “a card order paid” is an expense (money out). (a) False (b) True
19. 19.Ananya’s income was ₹350 and the profit was ₹150. One expense was ₹90 (card paper). How much was the other expense, for lemons (in ₹)?
20. 20.Ananya’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹140 (paper cups)
    Expense: ₹130 (stall fee)
    What is the profit (in ₹)?
21. 21.Which of these is an expense (money out)? (a) tutoring fees received (b) bus fare to the market (c) cash from selling plants (d) a card order paid
22. 22.Lakshmi’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹100 (paper cups)
    Expense: ₹190 (sugar)
    What is the profit (in ₹)?
23. 23.📒 Income or expense: buying paper cups? (a) income (b) expense
24. 24.Ananya’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹60 (posters)
    Expense: ₹110 (transport)
    What is the profit (in ₹)?
25. 25.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) the bill or receipt (d) nothing
26. 26.Joseph’s stall took in ₹390 on Friday, ₹70 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
27. 27.📒 Income or expense: printing posters? (a) income (b) expense
28. 28.📒 Income or expense: cash from selling plants? (a) income (b) expense
29. 29.Rohan’s stall took in ₹90 on Friday, ₹260 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
30. 30.Joseph’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹150 (stall fee)
    Expense: ₹60 (transport)
    What is the profit (in ₹)?
31. 31.True or false: “a card order paid” is income (money in). (a) False (b) True
32. 32.📒 Income or expense: buying lemons? (a) income (b) expense
33. 33.Arjun’s income was ₹270 and the profit was ₹160. One expense was ₹80 (sugar). How much was the other expense, for lemons (in ₹)?
34. 34.Meera’s income was ₹330 and the profit was ₹80. One expense was ₹30 (card paper). How much was the other expense, for lemons (in ₹)?
35. 35.Meera’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹30 (sugar)
    Expense: ₹160 (stall fee)
    What is the profit (in ₹)?
36. 36.Kavya’s income was ₹470 and the profit was ₹390. One expense was ₹70 (paper cups). How much was the other expense, for transport (in ₹)?
37. 37.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) cash from selling plants (d) buying paper cups
38. 38.Nisha’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹130 (stall fee)
    Expense: ₹60 (ribbon)
    How much is the loss (in ₹)?
39. 39.Arjun’s income was ₹500 and the profit was ₹60. One expense was ₹150 (card paper). How much was the other expense, for lemons (in ₹)?
40. 40.Farhan’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹130 (transport)
    Expense: ₹170 (ribbon)
    What is the profit (in ₹)?

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