Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 68 · 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: “paying the stall fee” is an expense (money out). (a) False (b) True
2. 2.Vihaan’s income was ₹260 and the profit was ₹220. One expense was ₹30 (paper cups). How much was the other expense, for sugar (in ₹)?
3. 3.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) bus fare to the market (d) money from sales
4. 4.True or false: “money from sales” is an expense (money out). (a) False (b) True
5. 5.📒 Income or expense: a card order paid? (a) income (b) expense
6. 6.Dev’s record for a rainy day:
   Income: ₹230 (sales)
   Expense: ₹100 (posters)
   Expense: ₹200 (transport)
   How much is the loss (in ₹)?
7. 7.Which of these is an expense (money out)? (a) printing posters (b) cash from selling plants (c) a card order paid (d) money from sales
8. 8.Meera’s income was ₹290 and the profit was ₹180. One expense was ₹10 (stall fee). How much was the other expense, for paper cups (in ₹)?
9. 9.Diya’s record for the day:
   Income: ₹160 (morning sales)
   Income: ₹140 (evening sales)
   Expense: ₹50 (stall fee)
   Expense: ₹140 (posters)
   What is the profit (in ₹)?
10. 10.True or false: “bus fare to the market” is income (money in). (a) True (b) False
11. 11.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) a selfie (d) only the bag
12. 12.Dev’s income was ₹470 and the profit was ₹210. One expense was ₹210 (lemons). How much was the other expense, for paper cups (in ₹)?
13. 13.Saanvi’s record for the day:
    Income: ₹390 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹160 (paper cups)
    Expense: ₹120 (ribbon)
    What is the profit (in ₹)?
14. 14.True or false: “tutoring fees received” is income (money in). (a) True (b) False
15. 15.True or false: “printing posters” is an expense (money out). (a) False (b) True
16. 16.📒 Income or expense: buying lemons? (a) expense (b) income
17. 17.📒 Income or expense: cash from selling plants? (a) expense (b) income
18. 18.📒 Income or expense: tutoring fees received? (a) expense (b) income
19. 19.Rohan’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹100 (lemons)
    Expense: ₹140 (paper cups)
    What is the profit (in ₹)?
20. 20.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) income + expenses (d) just the income
21. 21.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) printing posters (d) a card order paid
22. 22.Arjun’s income was ₹200 and the profit was ₹140. One expense was ₹50 (paper cups). How much was the other expense, for posters (in ₹)?
23. 23.True or false: “a card order paid” is an expense (money out). (a) True (b) False
24. 24.Saanvi’s income was ₹240 and the profit was ₹60. One expense was ₹150 (ribbon). How much was the other expense, for transport (in ₹)?
25. 25.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) paying the stall fee (d) payment for a cake order
26. 26.True or false: “money from sales” is income (money in). (a) True (b) False
27. 27.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) to look busy (d) no reason
28. 28.Ishaan’s income was ₹210 and the profit was ₹20. One expense was ₹50 (paper cups). How much was the other expense, for posters (in ₹)?
29. 29.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) cash from selling plants (d) buying paper cups
30. 30.Gurpreet’s stall took in ₹290 on Friday, ₹50 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
31. 31.Dev’s stall took in ₹380 on Friday, ₹230 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
32. 32.📒 Income or expense: money from sales? (a) expense (b) income
33. 33.Diya’s income was ₹150 and the profit was ₹110. One expense was ₹30 (lemons). How much was the other expense, for ribbon (in ₹)?
34. 34.Farhan’s stall took in ₹220 on Friday, ₹100 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
35. 35.Kabir’s income was ₹400 and the profit was ₹300. One expense was ₹70 (sugar). How much was the other expense, for posters (in ₹)?
36. 36.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) a card order paid (d) buying paper cups
37. 37.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
38. 38.Saanvi’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹180 (stall fee)
    Expense: ₹120 (paper cups)
    How much is the loss (in ₹)?
39. 39.Kabir’s stall took in ₹370 on Friday, ₹140 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
40. 40.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True

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