Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 54 · 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: “buying lemons” is income (money in). (a) True (b) False
2. 2.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) buying lemons (d) money from sales
3. 3.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) money from sales (d) bus fare to the market
4. 4.Riya’s record for a rainy day:
   Income: ₹110 (sales)
   Expense: ₹150 (card paper)
   Expense: ₹10 (paper cups)
   How much is the loss (in ₹)?
5. 5.Lakshmi’s income was ₹500 and the profit was ₹180. One expense was ₹50 (transport). How much was the other expense, for ribbon (in ₹)?
6. 6.True or false: “tutoring fees received” is income (money in). (a) False (b) True
7. 7.Riya’s income was ₹320 and the profit was ₹90. One expense was ₹180 (transport). How much was the other expense, for card paper (in ₹)?
8. 8.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) nothing (d) a selfie
9. 9.Kabir’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹40 (ribbon)
   Expense: ₹120 (paper cups)
   How much is the loss (in ₹)?
10. 10.Nisha’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹120 (paper cups)
    Expense: ₹160 (transport)
    What is the profit (in ₹)?
11. 11.Tara’s income was ₹240 and the profit was ₹200. One expense was ₹10 (lemons). How much was the other expense, for paper cups (in ₹)?
12. 12.Which of these is income (money in)? (a) buying lemons (b) a card order paid (c) bus fare to the market (d) printing posters
13. 13.📒 Income or expense: cash from selling plants? (a) income (b) expense
14. 14.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) just the income (d) income − expenses
15. 15.Which of these is income (money in)? (a) paying the stall fee (b) tutoring fees received (c) printing posters (d) buying paper cups
16. 16.📒 Income or expense: bus fare to the market? (a) expense (b) income
17. 17.Nisha’s income was ₹150 and the profit was ₹120. One expense was ₹20 (paper cups). How much was the other expense, for sugar (in ₹)?
18. 18.📒 Income or expense: buying paper cups? (a) expense (b) income
19. 19.📅 When is the best time to update your records? (a) the same day (b) once a year (c) whenever you like (d) never
20. 20.Kavya’s stall took in ₹80 on Friday, ₹250 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
21. 21.Ishaan’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹50 (lemons)
    Expense: ₹40 (stall fee)
    How much is the loss (in ₹)?
22. 22.True or false: “cash from selling plants” is income (money in). (a) True (b) False
23. 23.Farhan’s income was ₹150 and the profit was ₹130. One expense was ₹10 (ribbon). How much was the other expense, for lemons (in ₹)?
24. 24.📒 Income or expense: money from sales? (a) expense (b) income
25. 25.Which of these is income (money in)? (a) payment for a cake order (b) paying the stall fee (c) printing posters (d) buying lemons
26. 26.Diya’s stall took in ₹200 on Friday, ₹270 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
27. 27.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) to know the real profit (d) no reason
28. 28.Ishaan’s stall took in ₹310 on Friday, ₹190 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
29. 29.Aarav’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹180 (paper cups)
    Expense: ₹70 (posters)
    What is the profit (in ₹)?
30. 30.Dev’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹170 (paper cups)
    Expense: ₹80 (stall fee)
    How much is the loss (in ₹)?
31. 31.True or false: “bus fare to the market” is income (money in). (a) False (b) True
32. 32.Kabir’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹110 (ribbon)
    Expense: ₹120 (sugar)
    What is the profit (in ₹)?
33. 33.Lakshmi’s income was ₹100 and the profit was ₹10. One expense was ₹50 (transport). How much was the other expense, for stall fee (in ₹)?
34. 34.Vihaan’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹180 (lemons)
    Expense: ₹60 (paper cups)
    How much is the loss (in ₹)?
35. 35.Tara’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹160 (card paper)
    Expense: ₹50 (sugar)
    What is the profit (in ₹)?
36. 36.Ananya’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹20 (sugar)
    Expense: ₹140 (lemons)
    What is the profit (in ₹)?
37. 37.Zoya’s stall took in ₹210 on Friday, ₹360 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
38. 38.Kabir’s stall took in ₹220 on Friday, ₹90 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
39. 39.Ishaan’s stall took in ₹180 on Friday, ₹300 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
40. 40.Farhan’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹190 (ribbon)
    Expense: ₹50 (paper cups)
    How much is the loss (in ₹)?

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