Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 613 · 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 an expense (money out). (a) False (b) True
2. 2.Saanvi’s stall took in ₹240 on Friday, ₹400 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
3. 3.📒 Income or expense: money from sales? (a) expense (b) income
4. 4.True or false: “a card order paid” is income (money in). (a) False (b) True
5. 5.Dev’s record for the day:
   Income: ₹420 (morning sales)
   Income: ₹70 (evening sales)
   Expense: ₹50 (stall fee)
   Expense: ₹160 (posters)
   What is the profit (in ₹)?
6. 6.Joseph’s stall took in ₹110 on Friday, ₹200 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
7. 7.📒 Income or expense: payment for a cake order? (a) expense (b) income
8. 8.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) cash from selling plants (d) printing posters
9. 9.Gurpreet’s income was ₹430 and the profit was ₹290. One expense was ₹50 (lemons). How much was the other expense, for card paper (in ₹)?
10. 10.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) only the bag (d) a selfie
11. 11.📒 Income or expense: paying the stall fee? (a) expense (b) income
12. 12.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) payment for a cake order (d) buying lemons
13. 13.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
14. 14.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) never (d) once a year
15. 15.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to know the real profit (d) to look busy
16. 16.Diya’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹240 (transport)
    Expense: ₹90 (card paper)
    How much is the loss (in ₹)?
17. 17.Aarav’s record for the day:
    Income: ₹460 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹180 (paper cups)
    Expense: ₹40 (ribbon)
    What is the profit (in ₹)?
18. 18.Meera’s stall took in ₹170 on Friday, ₹330 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
19. 19.True or false: “buying lemons” is income (money in). (a) False (b) True
20. 20.Zoya’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹40 (sugar)
    Expense: ₹230 (posters)
    How much is the loss (in ₹)?
21. 21.True or false: “money from sales” is an expense (money out). (a) True (b) False
22. 22.Aarav’s income was ₹290 and the profit was ₹40. One expense was ₹220 (posters). How much was the other expense, for card paper (in ₹)?
23. 23.➖ Profit in your records = (a) just the income (b) expenses − income (c) income − expenses (d) income + expenses
24. 24.Lakshmi’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹420 (evening sales)
    Expense: ₹170 (ribbon)
    Expense: ₹150 (card paper)
    What is the profit (in ₹)?
25. 25.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) cash from selling plants (d) paying the stall fee
26. 26.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
27. 27.Kabir’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹90 (transport)
    Expense: ₹70 (posters)
    What is the profit (in ₹)?
28. 28.Aarav’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹90 (posters)
    Expense: ₹170 (ribbon)
    What is the profit (in ₹)?
29. 29.📒 Income or expense: cash from selling plants? (a) income (b) expense
30. 30.📒 Income or expense: a card order paid? (a) expense (b) income
31. 31.Riya’s stall took in ₹320 on Friday, ₹70 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
32. 32.Kabir’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹50 (paper cups)
    Expense: ₹300 (card paper)
    How much is the loss (in ₹)?
33. 33.📒 Income or expense: printing posters? (a) income (b) expense
34. 34.Lakshmi’s income was ₹310 and the profit was ₹80. One expense was ₹60 (posters). How much was the other expense, for lemons (in ₹)?
35. 35.Ananya’s income was ₹210 and the profit was ₹70. One expense was ₹70 (transport). How much was the other expense, for ribbon (in ₹)?
36. 36.Meera’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹60 (lemons)
    Expense: ₹90 (card paper)
    How much is the loss (in ₹)?
37. 37.Farhan’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹270 (paper cups)
    Expense: ₹30 (stall fee)
    How much is the loss (in ₹)?
38. 38.Farhan’s stall took in ₹310 on Friday, ₹270 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
39. 39.True or false: “tutoring fees received” is income (money in). (a) False (b) True
40. 40.Aarav’s income was ₹490 and the profit was ₹460. One expense was ₹10 (card paper). How much was the other expense, for paper cups (in ₹)?

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