Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 671 · 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.Lakshmi’s stall took in ₹260 on Friday, ₹390 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
2. 2.➖ Profit in your records = (a) just the income (b) income + expenses (c) income − expenses (d) expenses − income
3. 3.Meera’s record for the day:
   Income: ₹100 (morning sales)
   Income: ₹120 (evening sales)
   Expense: ₹120 (lemons)
   Expense: ₹30 (card paper)
   What is the profit (in ₹)?
4. 4.Which of these is income (money in)? (a) cash from selling plants (b) paying the stall fee (c) buying lemons (d) printing posters
5. 5.Meera’s record for a rainy day:
   Income: ₹140 (sales)
   Expense: ₹140 (stall fee)
   Expense: ₹100 (posters)
   How much is the loss (in ₹)?
6. 6.📒 Income or expense: money from sales? (a) income (b) expense
7. 7.Which of these is an expense (money out)? (a) money from sales (b) buying lemons (c) tutoring fees received (d) a card order paid
8. 8.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) only the bag (d) a selfie
9. 9.Which of these is income (money in)? (a) bus fare to the market (b) payment for a cake order (c) printing posters (d) paying the stall fee
10. 10.True or false: “a card order paid” is income (money in). (a) False (b) True
11. 11.📒 Income or expense: cash from selling plants? (a) income (b) expense
12. 12.📒 Income or expense: printing posters? (a) expense (b) income
13. 13.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) to fill a notebook (d) no reason
14. 14.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) bus fare to the market (d) a card order paid
15. 15.📒 Income or expense: paying the stall fee? (a) income (b) expense
16. 16.📅 When is the best time to update your records? (a) once a year (b) never (c) the same day (d) whenever you like
17. 17.Saanvi’s stall took in ₹290 on Friday, ₹90 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
18. 18.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
19. 19.Meera’s income was ₹100 and the profit was ₹20. One expense was ₹50 (ribbon). How much was the other expense, for paper cups (in ₹)?
20. 20.Kabir’s income was ₹410 and the profit was ₹70. One expense was ₹50 (paper cups). How much was the other expense, for posters (in ₹)?
21. 21.Aarav’s income was ₹140 and the profit was ₹60. One expense was ₹50 (stall fee). How much was the other expense, for sugar (in ₹)?
22. 22.Ananya’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹70 (sugar)
    Expense: ₹60 (posters)
    What is the profit (in ₹)?
23. 23.Joseph’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?
24. 24.Saanvi’s income was ₹490 and the profit was ₹280. One expense was ₹20 (card paper). How much was the other expense, for paper cups (in ₹)?
25. 25.Nisha’s income was ₹170 and the profit was ₹110. One expense was ₹10 (ribbon). How much was the other expense, for sugar (in ₹)?
26. 26.Vihaan’s record for the day:
    Income: ₹350 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹80 (lemons)
    Expense: ₹110 (transport)
    What is the profit (in ₹)?
27. 27.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) money from sales (d) printing posters
28. 28.📒 Income or expense: tutoring fees received? (a) expense (b) income
29. 29.Joseph’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹440 (evening sales)
    Expense: ₹130 (posters)
    Expense: ₹120 (transport)
    What is the profit (in ₹)?
30. 30.Aarav’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹160 (posters)
    Expense: ₹90 (stall fee)
    What is the profit (in ₹)?
31. 31.Nisha’s income was ₹430 and the profit was ₹30. One expense was ₹360 (lemons). How much was the other expense, for paper cups (in ₹)?
32. 32.True or false: “bus fare to the market” is income (money in). (a) True (b) False
33. 33.Farhan’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹130 (ribbon)
    Expense: ₹150 (card paper)
    How much is the loss (in ₹)?
34. 34.Arjun’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹40 (posters)
    Expense: ₹50 (lemons)
    How much is the loss (in ₹)?
35. 35.True or false: “cash from selling plants” is income (money in). (a) False (b) True
36. 36.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
37. 37.Which of these is income (money in)? (a) a card order paid (b) paying the stall fee (c) buying paper cups (d) printing posters
38. 38.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) cash from selling plants (d) buying paper cups
39. 39.True or false: “printing posters” is income (money in). (a) True (b) False
40. 40.Ananya’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹80 (transport)
    Expense: ₹190 (lemons)
    What is the profit (in ₹)?

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