Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 539 · 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.Aarav’s record for the day:
   Income: ₹160 (morning sales)
   Income: ₹160 (evening sales)
   Expense: ₹70 (transport)
   Expense: ₹160 (lemons)
   What is the profit (in ₹)?
2. 2.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
3. 3.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) never (d) the same day
4. 4.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to know the real profit (d) to look busy
5. 5.True or false: “printing posters” is income (money in). (a) True (b) False
6. 6.True or false: “printing posters” is an expense (money out). (a) True (b) False
7. 7.Dev’s stall took in ₹330 on Friday, ₹270 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
8. 8.Rohan’s stall took in ₹340 on Friday, ₹70 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
9. 9.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
10. 10.Which of these is income (money in)? (a) printing posters (b) payment for a cake order (c) buying lemons (d) buying paper cups
11. 11.Aarav’s stall took in ₹210 on Friday, ₹320 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
12. 12.Tara’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹80 (card paper)
    What is the profit (in ₹)?
13. 13.True or false: “paying the stall fee” is income (money in). (a) True (b) False
14. 14.📒 Income or expense: printing posters? (a) income (b) expense
15. 15.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) nothing (d) a selfie
16. 16.Which of these is income (money in)? (a) printing posters (b) money from sales (c) buying lemons (d) bus fare to the market
17. 17.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) tutoring fees received (d) buying lemons
18. 18.Aarav’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹80 (sugar)
    Expense: ₹160 (transport)
    What is the profit (in ₹)?
19. 19.Vihaan’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹120 (card paper)
    Expense: ₹90 (stall fee)
    How much is the loss (in ₹)?
20. 20.Meera’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹20 (stall fee)
    Expense: ₹90 (sugar)
    How much is the loss (in ₹)?
21. 21.Farhan’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹80 (stall fee)
    Expense: ₹200 (posters)
    How much is the loss (in ₹)?
22. 22.Zoya’s stall took in ₹140 on Friday, ₹370 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
23. 23.True or false: “buying lemons” is income (money in). (a) False (b) True
24. 24.Kabir’s income was ₹370 and the profit was ₹180. One expense was ₹50 (transport). How much was the other expense, for stall fee (in ₹)?
25. 25.True or false: “buying paper cups” is income (money in). (a) False (b) True
26. 26.Arjun’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹410 (evening sales)
    Expense: ₹140 (paper cups)
    Expense: ₹90 (sugar)
    What is the profit (in ₹)?
27. 27.Arjun’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹90 (card paper)
    Expense: ₹90 (lemons)
    What is the profit (in ₹)?
28. 28.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
29. 29.📒 Income or expense: cash from selling plants? (a) expense (b) income
30. 30.Meera’s income was ₹190 and the profit was ₹20. One expense was ₹110 (stall fee). How much was the other expense, for paper cups (in ₹)?
31. 31.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) a card order paid (d) buying lemons
32. 32.Vihaan’s income was ₹320 and the profit was ₹130. One expense was ₹30 (posters). How much was the other expense, for card paper (in ₹)?
33. 33.Farhan’s stall took in ₹50 on Friday, ₹360 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
34. 34.Nisha’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹150 (sugar)
    Expense: ₹20 (ribbon)
    How much is the loss (in ₹)?
35. 35.True or false: “tutoring fees received” is income (money in). (a) True (b) False
36. 36.📒 Income or expense: paying the stall fee? (a) income (b) expense
37. 37.Lakshmi’s income was ₹360 and the profit was ₹310. One expense was ₹40 (lemons). How much was the other expense, for transport (in ₹)?
38. 38.True or false: “payment for a cake order” is income (money in). (a) True (b) False
39. 39.Vihaan’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹120 (transport)
    Expense: ₹130 (sugar)
    What is the profit (in ₹)?
40. 40.➖ Profit in your records = (a) expenses − income (b) just the income (c) income + expenses (d) income − expenses

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