Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 780 · 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.Arjun’s stall took in ₹110 on Friday, ₹240 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
2. 2.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) money from sales (d) paying the stall fee
3. 3.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) a card order paid (d) paying the stall fee
4. 4.📒 Income or expense: cash from selling plants? (a) income (b) expense
5. 5.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
6. 6.Joseph’s stall took in ₹270 on Friday, ₹320 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
7. 7.Meera’s stall took in ₹330 on Friday, ₹70 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
8. 8.Tara’s stall took in ₹250 on Friday, ₹70 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
9. 9.Joseph’s income was ₹230 and the profit was ₹80. One expense was ₹30 (sugar). How much was the other expense, for card paper (in ₹)?
10. 10.Tara’s income was ₹230 and the profit was ₹170. One expense was ₹50 (paper cups). How much was the other expense, for lemons (in ₹)?
11. 11.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) tutoring fees received (d) buying lemons
12. 12.Lakshmi’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹90 (stall fee)
    Expense: ₹60 (posters)
    What is the profit (in ₹)?
13. 13.Aarav’s income was ₹150 and the profit was ₹20. One expense was ₹100 (card paper). How much was the other expense, for posters (in ₹)?
14. 14.Tara’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹20 (stall fee)
    Expense: ₹200 (transport)
    What is the profit (in ₹)?
15. 15.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) bus fare to the market (d) money from sales
16. 16.Meera’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹30 (card paper)
    Expense: ₹180 (posters)
    What is the profit (in ₹)?
17. 17.📒 Income or expense: money from sales? (a) expense (b) income
18. 18.True or false: “money from sales” is an expense (money out). (a) True (b) False
19. 19.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) income − expenses (d) just the income
20. 20.Kabir’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹70 (paper cups)
    Expense: ₹120 (stall fee)
    What is the profit (in ₹)?
21. 21.Which of these is income (money in)? (a) paying the stall fee (b) tutoring fees received (c) printing posters (d) buying lemons
22. 22.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) a selfie (d) only the bag
23. 23.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to fill a notebook (d) to know the real profit
24. 24.📅 When is the best time to update your records? (a) the same day (b) once a year (c) whenever you like (d) never
25. 25.Arjun’s stall took in ₹110 on Friday, ₹50 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
26. 26.Lakshmi’s income was ₹430 and the profit was ₹50. One expense was ₹10 (card paper). How much was the other expense, for lemons (in ₹)?
27. 27.True or false: “paying the stall fee” is income (money in). (a) False (b) True
28. 28.Rohan’s record for the day:
    Income: ₹360 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹110 (card paper)
    Expense: ₹150 (lemons)
    What is the profit (in ₹)?
29. 29.📒 Income or expense: bus fare to the market? (a) income (b) expense
30. 30.Saanvi’s stall took in ₹80 on Friday, ₹300 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
31. 31.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
32. 32.True or false: “money from sales” is income (money in). (a) True (b) False
33. 33.Arjun’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹20 (sugar)
    Expense: ₹40 (paper cups)
    How much is the loss (in ₹)?
34. 34.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
35. 35.Aarav’s income was ₹270 and the profit was ₹40. One expense was ₹40 (lemons). How much was the other expense, for stall fee (in ₹)?
36. 36.Tara’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹110 (lemons)
    Expense: ₹120 (transport)
    How much is the loss (in ₹)?
37. 37.Ananya’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹20 (lemons)
    Expense: ₹160 (stall fee)
    What is the profit (in ₹)?
38. 38.Nisha’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹150 (card paper)
    Expense: ₹120 (sugar)
    How much is the loss (in ₹)?
39. 39.📒 Income or expense: a card order paid? (a) income (b) expense
40. 40.Meera’s income was ₹380 and the profit was ₹150. One expense was ₹30 (ribbon). How much was the other expense, for posters (in ₹)?

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