Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 785 · 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.Which of these is income (money in)? (a) bus fare to the market (b) cash from selling plants (c) buying paper cups (d) printing posters
2. 2.Ishaan’s stall took in ₹100 on Friday, ₹200 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
3. 3.📒 Income or expense: a card order paid? (a) income (b) expense
4. 4.Nisha’s record for the day:
   Income: ₹70 (morning sales)
   Income: ₹120 (evening sales)
   Expense: ₹140 (sugar)
   Expense: ₹40 (stall fee)
   What is the profit (in ₹)?
5. 5.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) paying the stall fee (d) payment for a cake order
6. 6.📒 Income or expense: cash from selling plants? (a) income (b) expense
7. 7.Gurpreet’s record for the day:
   Income: ₹270 (morning sales)
   Income: ₹200 (evening sales)
   Expense: ₹170 (posters)
   Expense: ₹180 (ribbon)
   What is the profit (in ₹)?
8. 8.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) income + expenses (d) just the income
9. 9.Zoya’s income was ₹150 and the profit was ₹100. One expense was ₹20 (lemons). How much was the other expense, for posters (in ₹)?
10. 10.Zoya’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹50 (posters)
    Expense: ₹140 (paper cups)
    How much is the loss (in ₹)?
11. 11.Lakshmi’s stall took in ₹250 on Friday, ₹60 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
12. 12.Zoya’s income was ₹300 and the profit was ₹40. One expense was ₹40 (lemons). How much was the other expense, for card paper (in ₹)?
13. 13.Rohan’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹180 (lemons)
    Expense: ₹110 (card paper)
    What is the profit (in ₹)?
14. 14.📒 Income or expense: tutoring fees received? (a) income (b) expense
15. 15.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
16. 16.Rohan’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹110 (lemons)
    Expense: ₹120 (stall fee)
    How much is the loss (in ₹)?
17. 17.Kabir’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹100 (sugar)
    Expense: ₹90 (paper cups)
    How much is the loss (in ₹)?
18. 18.Zoya’s stall took in ₹120 on Friday, ₹150 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
19. 19.Kavya’s stall took in ₹160 on Friday, ₹380 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
20. 20.📅 When is the best time to update your records? (a) once a year (b) the same day (c) never (d) whenever you like
21. 21.📒 Income or expense: buying lemons? (a) income (b) expense
22. 22.Kavya’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹60 (transport)
    Expense: ₹260 (ribbon)
    How much is the loss (in ₹)?
23. 23.Which of these is an expense (money out)? (a) money from sales (b) buying lemons (c) a card order paid (d) payment for a cake order
24. 24.Lakshmi’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹380 (evening sales)
    Expense: ₹50 (paper cups)
    Expense: ₹180 (sugar)
    What is the profit (in ₹)?
25. 25.📒 Income or expense: money from sales? (a) expense (b) income
26. 26.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) money from sales (d) printing posters
27. 27.Joseph’s stall took in ₹80 on Friday, ₹350 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
28. 28.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) paying the stall fee (d) a card order paid
29. 29.📒 Income or expense: payment for a cake order? (a) expense (b) income
30. 30.Vihaan’s stall took in ₹310 on Friday, ₹220 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
31. 31.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) a selfie (d) only the bag
32. 32.Nisha’s stall took in ₹200 on Friday, ₹180 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
33. 33.Zoya’s income was ₹330 and the profit was ₹230. One expense was ₹30 (sugar). How much was the other expense, for stall fee (in ₹)?
34. 34.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) no reason (d) to look busy
35. 35.Meera’s income was ₹150 and the profit was ₹50. One expense was ₹80 (ribbon). How much was the other expense, for sugar (in ₹)?
36. 36.Vihaan’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹80 (stall fee)
    Expense: ₹160 (sugar)
    What is the profit (in ₹)?
37. 37.Joseph’s stall took in ₹310 on Friday, ₹290 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
38. 38.True or false: “tutoring fees received” is income (money in). (a) False (b) True
39. 39.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
40. 40.Saanvi’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹170 (paper cups)
    Expense: ₹150 (sugar)
    How much is the loss (in ₹)?

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