Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 519 · 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 income was ₹190 and the profit was ₹10. One expense was ₹20 (posters). How much was the other expense, for sugar (in ₹)?
2. 2.📒 Income or expense: cash from selling plants? (a) expense (b) income
3. 3.📒 Income or expense: buying paper cups? (a) income (b) expense
4. 4.Kavya’s stall took in ₹70 on Friday, ₹360 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
5. 5.True or false: “a card order paid” is income (money in). (a) False (b) True
6. 6.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
7. 7.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) payment for a cake order (d) paying the stall fee
8. 8.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) buying paper cups (d) money from sales
9. 9.Nisha’s record for a rainy day:
   Income: ₹270 (sales)
   Expense: ₹260 (transport)
   Expense: ₹20 (ribbon)
   How much is the loss (in ₹)?
10. 10.📒 Income or expense: bus fare to the market? (a) income (b) expense
11. 11.📒 Income or expense: payment for a cake order? (a) income (b) expense
12. 12.📒 Income or expense: money from sales? (a) expense (b) income
13. 13.Lakshmi’s income was ₹120 and the profit was ₹40. One expense was ₹40 (ribbon). How much was the other expense, for posters (in ₹)?
14. 14.True or false: “printing posters” is income (money in). (a) True (b) False
15. 15.➖ Profit in your records = (a) just the income (b) income − expenses (c) expenses − income (d) income + expenses
16. 16.Gurpreet’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹430 (evening sales)
    Expense: ₹100 (paper cups)
    Expense: ₹80 (card paper)
    What is the profit (in ₹)?
17. 17.Kavya’s income was ₹450 and the profit was ₹320. One expense was ₹10 (paper cups). How much was the other expense, for posters (in ₹)?
18. 18.📒 Income or expense: tutoring fees received? (a) income (b) expense
19. 19.True or false: “cash from selling plants” is income (money in). (a) True (b) False
20. 20.📒 Income or expense: paying the stall fee? (a) income (b) expense
21. 21.Meera’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹80 (paper cups)
    Expense: ₹30 (transport)
    What is the profit (in ₹)?
22. 22.True or false: “buying lemons” is income (money in). (a) False (b) True
23. 23.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
24. 24.Kabir’s stall took in ₹250 on Friday, ₹390 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
25. 25.📒 Income or expense: printing posters? (a) income (b) expense
26. 26.Farhan’s stall took in ₹280 on Friday, ₹80 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
27. 27.Saanvi’s income was ₹380 and the profit was ₹320. One expense was ₹10 (lemons). How much was the other expense, for posters (in ₹)?
28. 28.Aarav’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹190 (posters)
    Expense: ₹30 (lemons)
    How much is the loss (in ₹)?
29. 29.Riya’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹20 (posters)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
30. 30.Which of these is an expense (money out)? (a) payment for a cake order (b) bus fare to the market (c) money from sales (d) tutoring fees received
31. 31.Kavya’s stall took in ₹170 on Friday, ₹370 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
32. 32.Which of these is an expense (money out)? (a) buying paper cups (b) a card order paid (c) payment for a cake order (d) tutoring fees received
33. 33.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) a card order paid (d) buying lemons
34. 34.Lakshmi’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹20 (ribbon)
    Expense: ₹120 (transport)
    How much is the loss (in ₹)?
35. 35.Vihaan’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹170 (sugar)
    Expense: ₹70 (posters)
    How much is the loss (in ₹)?
36. 36.Farhan’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹190 (sugar)
    Expense: ₹40 (paper cups)
    How much is the loss (in ₹)?
37. 37.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
38. 38.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) the bill or receipt (d) a selfie
39. 39.Gurpreet’s income was ₹390 and the profit was ₹170. One expense was ₹190 (lemons). How much was the other expense, for paper cups (in ₹)?
40. 40.True or false: “paying the stall fee” is income (money in). (a) True (b) False

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