Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 732 · 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.📒 Income or expense: bus fare to the market? (a) expense (b) income
2. 2.Kabir’s income was ₹200 and the profit was ₹110. One expense was ₹70 (transport). How much was the other expense, for sugar (in ₹)?
3. 3.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) never (d) once a year
4. 4.Which of these is an expense (money out)? (a) tutoring fees received (b) buying lemons (c) cash from selling plants (d) payment for a cake order
5. 5.Riya’s stall took in ₹90 on Friday, ₹110 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
6. 6.📒 Income or expense: money from sales? (a) expense (b) income
7. 7.Aarav’s stall took in ₹380 on Friday, ₹380 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
8. 8.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) to know the real profit (d) no reason
9. 9.Riya’s stall took in ₹130 on Friday, ₹390 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
10. 10.True or false: “payment for a cake order” is income (money in). (a) True (b) False
11. 11.True or false: “tutoring fees received” 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 lemons (d) tutoring fees received
13. 13.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) buying paper cups (d) money from sales
14. 14.True or false: “cash from selling plants” is income (money in). (a) False (b) True
15. 15.Which of these is income (money in)? (a) paying the stall fee (b) a card order paid (c) bus fare to the market (d) buying paper cups
16. 16.📒 Income or expense: payment for a cake order? (a) income (b) expense
17. 17.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) a selfie (d) nothing
18. 18.📒 Income or expense: printing posters? (a) expense (b) income
19. 19.True or false: “paying the stall fee” is income (money in). (a) True (b) False
20. 20.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) buying paper cups (d) cash from selling plants
21. 21.Which of these is an expense (money out)? (a) printing posters (b) tutoring fees received (c) a card order paid (d) payment for a cake order
22. 22.Lakshmi’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹10 (sugar)
    Expense: ₹60 (ribbon)
    How much is the loss (in ₹)?
23. 23.Diya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹20 (ribbon)
    Expense: ₹110 (lemons)
    What is the profit (in ₹)?
24. 24.Kavya’s stall took in ₹240 on Friday, ₹90 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
25. 25.Diya’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹120 (stall fee)
    Expense: ₹150 (lemons)
    What is the profit (in ₹)?
26. 26.📒 Income or expense: cash from selling plants? (a) income (b) expense
27. 27.Saanvi’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹70 (posters)
    Expense: ₹90 (lemons)
    What is the profit (in ₹)?
28. 28.Kabir’s income was ₹200 and the profit was ₹170. One expense was ₹10 (lemons). How much was the other expense, for posters (in ₹)?
29. 29.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
30. 30.True or false: “buying lemons” is income (money in). (a) True (b) False
31. 31.Farhan’s stall took in ₹90 on Friday, ₹320 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
32. 32.Kabir’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹30 (transport)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
33. 33.Riya’s income was ₹160 and the profit was ₹50. One expense was ₹90 (paper cups). How much was the other expense, for stall fee (in ₹)?
34. 34.True or false: “a card order paid” is income (money in). (a) False (b) True
35. 35.📒 Income or expense: buying lemons? (a) expense (b) income
36. 36.True or false: “a card order paid” is an expense (money out). (a) False (b) True
37. 37.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
38. 38.Nisha’s stall took in ₹230 on Friday, ₹200 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
39. 39.Saanvi’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹20 (transport)
    Expense: ₹350 (ribbon)
    How much is the loss (in ₹)?
40. 40.Ishaan’s income was ₹190 and the profit was ₹170. One expense was ₹10 (transport). How much was the other expense, for stall fee (in ₹)?

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