Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 658 · 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.Zoya’s record for a rainy day:
   Income: ₹300 (sales)
   Expense: ₹80 (transport)
   Expense: ₹300 (ribbon)
   How much is the loss (in ₹)?
2. 2.📒 Income or expense: payment for a cake order? (a) expense (b) income
3. 3.📒 Income or expense: bus fare to the market? (a) income (b) expense
4. 4.Rohan’s income was ₹260 and the profit was ₹10. One expense was ₹70 (lemons). How much was the other expense, for stall fee (in ₹)?
5. 5.➖ Profit in your records = (a) income − expenses (b) just the income (c) expenses − income (d) income + expenses
6. 6.Which of these is income (money in)? (a) tutoring fees received (b) buying lemons (c) buying paper cups (d) printing posters
7. 7.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
8. 8.📒 Income or expense: cash from selling plants? (a) income (b) expense
9. 9.📒 Income or expense: printing posters? (a) income (b) expense
10. 10.📒 Income or expense: a card order paid? (a) income (b) expense
11. 11.Vihaan’s stall took in ₹230 on Friday, ₹80 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
12. 12.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) cash from selling plants (d) paying the stall fee
13. 13.Rohan’s income was ₹210 and the profit was ₹190. One expense was ₹10 (paper cups). How much was the other expense, for transport (in ₹)?
14. 14.Which of these is an expense (money out)? (a) cash from selling plants (b) buying paper cups (c) money from sales (d) tutoring fees received
15. 15.Kabir’s income was ₹380 and the profit was ₹230. One expense was ₹120 (transport). How much was the other expense, for lemons (in ₹)?
16. 16.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) never (d) once a year
17. 17.Lakshmi’s record for the day:
    Income: ₹360 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹20 (sugar)
    Expense: ₹100 (lemons)
    What is the profit (in ₹)?
18. 18.Lakshmi’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹280 (ribbon)
    Expense: ₹40 (posters)
    How much is the loss (in ₹)?
19. 19.Zoya’s record for the day:
    Income: ₹410 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹150 (paper cups)
    Expense: ₹180 (posters)
    What is the profit (in ₹)?
20. 20.True or false: “a card order paid” is income (money in). (a) True (b) False
21. 21.Aarav’s stall took in ₹100 on Friday, ₹160 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
22. 22.True or false: “tutoring fees received” is income (money in). (a) False (b) True
23. 23.Aarav’s stall took in ₹350 on Friday, ₹250 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
24. 24.True or false: “cash from selling plants” is income (money in). (a) False (b) True
25. 25.Nisha’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹160 (paper cups)
    Expense: ₹20 (ribbon)
    What is the profit (in ₹)?
26. 26.Saanvi’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹150 (ribbon)
    Expense: ₹40 (lemons)
    How much is the loss (in ₹)?
27. 27.Rohan’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹50 (paper cups)
    Expense: ₹120 (stall fee)
    How much is the loss (in ₹)?
28. 28.📒 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
29. 29.📒 Income or expense: paying the stall fee? (a) expense (b) income
30. 30.Which of these is income (money in)? (a) paying the stall fee (b) payment for a cake order (c) buying paper cups (d) bus fare to the market
31. 31.Diya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹130 (sugar)
    Expense: ₹130 (stall fee)
    What is the profit (in ₹)?
32. 32.Ananya’s stall took in ₹300 on Friday, ₹400 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
33. 33.Meera’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹100 (sugar)
    Expense: ₹40 (paper cups)
    How much is the loss (in ₹)?
34. 34.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) money from sales (d) printing posters
35. 35.Saanvi’s stall took in ₹70 on Friday, ₹240 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
36. 36.Joseph’s stall took in ₹400 on Friday, ₹400 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
37. 37.Farhan’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹80 (lemons)
    Expense: ₹220 (ribbon)
    How much is the loss (in ₹)?
38. 38.📒 Income or expense: tutoring fees received? (a) income (b) expense
39. 39.Joseph’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹140 (paper cups)
    Expense: ₹20 (ribbon)
    What is the profit (in ₹)?
40. 40.Riya’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹180 (lemons)
    Expense: ₹130 (posters)
    What is the profit (in ₹)?

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