Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 751 · 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.Vihaan’s stall took in ₹120 on Friday, ₹340 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
2. 2.📒 Income or expense: a card order paid? (a) income (b) expense
3. 3.Kabir’s record for a rainy day:
   Income: ₹150 (sales)
   Expense: ₹20 (paper cups)
   Expense: ₹200 (lemons)
   How much is the loss (in ₹)?
4. 4.True or false: “buying paper cups” is income (money in). (a) False (b) True
5. 5.📒 Income or expense: buying lemons? (a) income (b) expense
6. 6.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
7. 7.Nisha’s record for a rainy day:
   Income: ₹110 (sales)
   Expense: ₹40 (card paper)
   Expense: ₹110 (sugar)
   How much is the loss (in ₹)?
8. 8.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to fill a notebook (d) to look busy
9. 9.📒 Income or expense: bus fare to the market? (a) income (b) expense
10. 10.➖ Profit in your records = (a) just the income (b) income + expenses (c) expenses − income (d) income − expenses
11. 11.Aarav’s stall took in ₹130 on Friday, ₹170 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
12. 12.📒 Income or expense: cash from selling plants? (a) expense (b) income
13. 13.Ishaan’s income was ₹490 and the profit was ₹330. One expense was ₹90 (posters). How much was the other expense, for sugar (in ₹)?
14. 14.Tara’s income was ₹140 and the profit was ₹80. One expense was ₹50 (ribbon). How much was the other expense, for sugar (in ₹)?
15. 15.Farhan’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹20 (paper cups)
    Expense: ₹160 (ribbon)
    What is the profit (in ₹)?
16. 16.Zoya’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹130 (stall fee)
    Expense: ₹20 (ribbon)
    How much is the loss (in ₹)?
17. 17.True or false: “buying lemons” is an expense (money out). (a) False (b) True
18. 18.Farhan’s stall took in ₹150 on Friday, ₹260 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
19. 19.Nisha’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹160 (sugar)
    Expense: ₹60 (card paper)
    How much is the loss (in ₹)?
20. 20.True or false: “payment for a cake order” is income (money in). (a) False (b) True
21. 21.Rohan’s income was ₹470 and the profit was ₹220. One expense was ₹170 (posters). How much was the other expense, for card paper (in ₹)?
22. 22.Nisha’s income was ₹310 and the profit was ₹130. One expense was ₹20 (ribbon). How much was the other expense, for lemons (in ₹)?
23. 23.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) the same day (d) never
24. 24.Saanvi’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹80 (card paper)
    Expense: ₹20 (posters)
    How much is the loss (in ₹)?
25. 25.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
26. 26.True or false: “buying lemons” is income (money in). (a) False (b) True
27. 27.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) money from sales (d) paying the stall fee
28. 28.📒 Income or expense: money from sales? (a) expense (b) income
29. 29.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) the bill or receipt (d) nothing
30. 30.Which of these is an expense (money out)? (a) paying the stall fee (b) cash from selling plants (c) payment for a cake order (d) tutoring fees received
31. 31.Kabir’s stall took in ₹290 on Friday, ₹140 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
32. 32.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) a card order paid (d) paying the stall fee
33. 33.Ananya’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹140 (paper cups)
    Expense: ₹160 (stall fee)
    What is the profit (in ₹)?
34. 34.Farhan’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹160 (stall fee)
    Expense: ₹150 (transport)
    What is the profit (in ₹)?
35. 35.Lakshmi’s stall took in ₹230 on Friday, ₹280 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
36. 36.Meera’s income was ₹150 and the profit was ₹10. One expense was ₹120 (sugar). How much was the other expense, for lemons (in ₹)?
37. 37.Rohan’s record for the day:
    Income: ₹480 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹140 (stall fee)
    Expense: ₹180 (sugar)
    What is the profit (in ₹)?
38. 38.True or false: “printing posters” is income (money in). (a) True (b) False
39. 39.Lakshmi’s stall took in ₹280 on Friday, ₹70 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
40. 40.Riya’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹70 (card paper)
    Expense: ₹130 (lemons)
    What is the profit (in ₹)?

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