Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 589 · 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.📒 Income or expense: printing posters? (a) expense (b) income
2. 2.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) cash from selling plants (d) printing posters
3. 3.📒 Income or expense: payment for a cake order? (a) expense (b) income
4. 4.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) bus fare to the market (d) a card order paid
5. 5.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) just the income (d) income + expenses
6. 6.Which of these is an expense (money out)? (a) buying lemons (b) cash from selling plants (c) payment for a cake order (d) a card order paid
7. 7.True or false: “a card order paid” is an expense (money out). (a) True (b) False
8. 8.Dev’s record for a rainy day:
   Income: ₹140 (sales)
   Expense: ₹220 (sugar)
   Expense: ₹10 (posters)
   How much is the loss (in ₹)?
9. 9.True or false: “buying paper cups” is income (money in). (a) True (b) False
10. 10.Arjun’s income was ₹110 and the profit was ₹20. One expense was ₹70 (ribbon). How much was the other expense, for card paper (in ₹)?
11. 11.Meera’s income was ₹480 and the profit was ₹280. One expense was ₹60 (ribbon). How much was the other expense, for lemons (in ₹)?
12. 12.Farhan’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹110 (card paper)
    Expense: ₹110 (paper cups)
    What is the profit (in ₹)?
13. 13.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
14. 14.Nisha’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹80 (card paper)
    Expense: ₹90 (lemons)
    What is the profit (in ₹)?
15. 15.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) a card order paid (d) buying paper cups
16. 16.Dev’s stall took in ₹170 on Friday, ₹140 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
17. 17.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
18. 18.True or false: “buying lemons” is an expense (money out). (a) False (b) True
19. 19.Lakshmi’s income was ₹420 and the profit was ₹60. One expense was ₹50 (ribbon). How much was the other expense, for transport (in ₹)?
20. 20.Which of these is an expense (money out)? (a) paying the stall fee (b) cash from selling plants (c) payment for a cake order (d) money from sales
21. 21.Joseph’s stall took in ₹90 on Friday, ₹390 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
22. 22.📒 Income or expense: tutoring fees received? (a) income (b) expense
23. 23.📒 Income or expense: bus fare to the market? (a) income (b) expense
24. 24.Which of these is income (money in)? (a) printing posters (b) bus fare to the market (c) buying lemons (d) payment for a cake order
25. 25.Diya’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹190 (lemons)
    Expense: ₹190 (transport)
    What is the profit (in ₹)?
26. 26.📅 When is the best time to update your records? (a) once a year (b) never (c) whenever you like (d) the same day
27. 27.Meera’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹210 (lemons)
    Expense: ₹80 (ribbon)
    How much is the loss (in ₹)?
28. 28.📒 Income or expense: paying the stall fee? (a) expense (b) income
29. 29.True or false: “a card order paid” is income (money in). (a) True (b) False
30. 30.Vihaan’s income was ₹170 and the profit was ₹20. One expense was ₹100 (posters). How much was the other expense, for ribbon (in ₹)?
31. 31.Ananya’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹130 (card paper)
    Expense: ₹110 (posters)
    What is the profit (in ₹)?
32. 32.Kavya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹190 (paper cups)
    Expense: ₹20 (transport)
    What is the profit (in ₹)?
33. 33.Zoya’s stall took in ₹120 on Friday, ₹160 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
34. 34.Zoya’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹70 (transport)
    Expense: ₹50 (lemons)
    How much is the loss (in ₹)?
35. 35.📒 Income or expense: money from sales? (a) expense (b) income
36. 36.Nisha’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹410 (evening sales)
    Expense: ₹150 (paper cups)
    Expense: ₹140 (card paper)
    What is the profit (in ₹)?
37. 37.Vihaan’s income was ₹500 and the profit was ₹400. One expense was ₹40 (ribbon). How much was the other expense, for transport (in ₹)?
38. 38.Nisha’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹60 (posters)
    Expense: ₹150 (transport)
    What is the profit (in ₹)?
39. 39.True or false: “cash from selling plants” is income (money in). (a) False (b) True
40. 40.Vihaan’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹110 (lemons)
    Expense: ₹180 (paper cups)
    What is the profit (in ₹)?

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