Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 619 · 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: “money from sales” is income (money in). (a) False (b) True
2. 2.Vihaan’s stall took in ₹300 on Friday, ₹240 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
3. 3.Diya’s income was ₹390 and the profit was ₹120. One expense was ₹130 (lemons). How much was the other expense, for stall fee (in ₹)?
4. 4.Which of these is income (money in)? (a) paying the stall fee (b) payment for a cake order (c) buying lemons (d) bus fare to the market
5. 5.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) to look busy (d) no reason
6. 6.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) payment for a cake order (d) buying paper cups
7. 7.Diya’s record for the day:
   Income: ₹90 (morning sales)
   Income: ₹240 (evening sales)
   Expense: ₹90 (ribbon)
   Expense: ₹200 (paper cups)
   What is the profit (in ₹)?
8. 8.Tara’s stall took in ₹250 on Friday, ₹320 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
9. 9.Vihaan’s record for a rainy day:
   Income: ₹170 (sales)
   Expense: ₹40 (lemons)
   Expense: ₹200 (ribbon)
   How much is the loss (in ₹)?
10. 10.True or false: “buying lemons” is an expense (money out). (a) False (b) True
11. 11.True or false: “cash from selling plants” is income (money in). (a) False (b) True
12. 12.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) buying paper cups (d) a card order paid
13. 13.Riya’s income was ₹390 and the profit was ₹240. One expense was ₹90 (transport). How much was the other expense, for ribbon (in ₹)?
14. 14.📒 Income or expense: a card order paid? (a) expense (b) income
15. 15.Meera’s stall took in ₹100 on Friday, ₹60 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
16. 16.📅 When is the best time to update your records? (a) the same day (b) never (c) once a year (d) whenever you like
17. 17.Diya’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹450 (evening sales)
    Expense: ₹200 (sugar)
    Expense: ₹120 (paper cups)
    What is the profit (in ₹)?
18. 18.📒 Income or expense: tutoring fees received? (a) expense (b) income
19. 19.Dev’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹150 (stall fee)
    Expense: ₹150 (lemons)
    What is the profit (in ₹)?
20. 20.Which of these is income (money in)? (a) tutoring fees received (b) buying lemons (c) bus fare to the market (d) paying the stall fee
21. 21.Lakshmi’s stall took in ₹140 on Friday, ₹270 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
22. 22.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
23. 23.📒 Income or expense: bus fare to the market? (a) expense (b) income
24. 24.True or false: “printing posters” is income (money in). (a) False (b) True
25. 25.Lakshmi’s income was ₹190 and the profit was ₹150. One expense was ₹10 (lemons). How much was the other expense, for sugar (in ₹)?
26. 26.True or false: “tutoring fees received” is income (money in). (a) True (b) False
27. 27.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) the bill or receipt (d) nothing
28. 28.Vihaan’s record for the day:
    Income: ₹410 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹100 (paper cups)
    Expense: ₹120 (ribbon)
    What is the profit (in ₹)?
29. 29.📒 Income or expense: printing posters? (a) expense (b) income
30. 30.Kavya’s income was ₹330 and the profit was ₹270. One expense was ₹50 (sugar). How much was the other expense, for ribbon (in ₹)?
31. 31.True or false: “buying paper cups” is income (money in). (a) False (b) True
32. 32.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) expenses − income (d) just the income
33. 33.True or false: “bus fare to the market” is income (money in). (a) True (b) False
34. 34.📒 Income or expense: buying paper cups? (a) expense (b) income
35. 35.Aarav’s income was ₹140 and the profit was ₹70. One expense was ₹10 (ribbon). How much was the other expense, for transport (in ₹)?
36. 36.Meera’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹90 (posters)
    Expense: ₹180 (ribbon)
    How much is the loss (in ₹)?
37. 37.Meera’s stall took in ₹60 on Friday, ₹80 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
38. 38.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
39. 39.True or false: “a card order paid” is income (money in). (a) True (b) False
40. 40.Gurpreet’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹210 (ribbon)
    Expense: ₹40 (transport)
    How much is the loss (in ₹)?

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