← Simple record keeping lesson New set →

Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 79 · 40 questions
TalentJR

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.

NameDateTime takenScore ___ / 40
  1. 1.Which of these is income (money in)? (a) bus fare to the market (b) money from sales (c) paying the stall fee (d) buying lemons
  2. 2.Aarav’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹140 (sugar)
    Expense: ₹200 (ribbon)
    What is the profit (in ₹)?
  3. 3.Riya’s stall took in ₹290 on Friday, ₹240 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
  4. 4.True or false: “buying lemons” is an expense (money out). (a) False (b) True
  5. 5.📒 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
  6. 6.Kavya’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹70 (paper cups)
    Expense: ₹30 (lemons)
    What is the profit (in ₹)?
  7. 7.Nisha’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹160 (paper cups)
    Expense: ₹20 (posters)
    How much is the loss (in ₹)?
  8. 8.📒 Income or expense: a card order paid? (a) income (b) expense
  9. 9.Joseph’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹70 (sugar)
    Expense: ₹40 (stall fee)
    What is the profit (in ₹)?
  10. 10.Gurpreet’s income was ₹140 and the profit was ₹30. One expense was ₹20 (card paper). How much was the other expense, for lemons (in ₹)?
  11. 11.Zoya’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹160 (lemons)
    Expense: ₹110 (ribbon)
    How much is the loss (in ₹)?
  12. 12.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) a selfie (d) nothing
  13. 13.Tara’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹40 (paper cups)
    Expense: ₹200 (lemons)
    What is the profit (in ₹)?
  14. 14.Ananya’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹40 (lemons)
    Expense: ₹30 (posters)
    What is the profit (in ₹)?
  15. 15.Arjun’s income was ₹120 and the profit was ₹90. One expense was ₹20 (lemons). How much was the other expense, for ribbon (in ₹)?
  16. 16.➖ Profit in your records = (a) income − expenses (b) just the income (c) expenses − income (d) income + expenses
  17. 17.📒 Income or expense: money from sales? (a) expense (b) income
  18. 18.Which of these is an expense (money out)? (a) printing posters (b) cash from selling plants (c) a card order paid (d) tutoring fees received
  19. 19.True or false: “a card order paid” is an expense (money out). (a) True (b) False
  20. 20.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) a card order paid (d) buying lemons
  21. 21.Farhan’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹20 (lemons)
    Expense: ₹100 (stall fee)
    What is the profit (in ₹)?
  22. 22.Meera’s income was ₹100 and the profit was ₹50. One expense was ₹10 (transport). How much was the other expense, for paper cups (in ₹)?
  23. 23.Ananya’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹80 (paper cups)
    Expense: ₹60 (stall fee)
    What is the profit (in ₹)?
  24. 24.Which of these is income (money in)? (a) tutoring fees received (b) buying paper cups (c) bus fare to the market (d) printing posters
  25. 25.Vihaan’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹20 (sugar)
    Expense: ₹90 (stall fee)
    How much is the loss (in ₹)?
  26. 26.Aarav’s stall took in ₹60 on Friday, ₹390 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
  27. 27.Kabir’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹110 (paper cups)
    What is the profit (in ₹)?
  28. 28.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) printing posters (d) cash from selling plants
  29. 29.Diya’s income was ₹460 and the profit was ₹120. One expense was ₹250 (transport). How much was the other expense, for paper cups (in ₹)?
  30. 30.Riya’s income was ₹170 and the profit was ₹10. One expense was ₹130 (paper cups). How much was the other expense, for stall fee (in ₹)?
  31. 31.Tara’s stall took in ₹130 on Friday, ₹300 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
  32. 32.Kavya’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹20 (paper cups)
    Expense: ₹140 (transport)
    What is the profit (in ₹)?
  33. 33.Kabir’s income was ₹200 and the profit was ₹80. One expense was ₹10 (posters). How much was the other expense, for card paper (in ₹)?
  34. 34.Dev’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹140 (posters)
    Expense: ₹140 (lemons)
    How much is the loss (in ₹)?
  35. 35.Meera’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹240 (evening sales)
    Expense: ₹50 (stall fee)
    Expense: ₹160 (card paper)
    What is the profit (in ₹)?
  36. 36.Which of these is an expense (money out)? (a) tutoring fees received (b) payment for a cake order (c) buying lemons (d) money from sales
  37. 37.Arjun’s stall took in ₹70 on Friday, ₹330 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
  38. 38.Riya’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹200 (lemons)
    Expense: ₹70 (paper cups)
    What is the profit (in ₹)?
  39. 39.Which of these is an expense (money out)? (a) bus fare to the market (b) cash from selling plants (c) payment for a cake order (d) money from sales
  40. 40.Ananya’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹10 (posters)
    Expense: ₹220 (lemons)
    How much is the loss (in ₹)?

Answer key

  1. money from sales
  2. 20
  3. 920
  4. True
  5. to know the real profit
  6. 140
  7. 10
  8. income
  9. 290
  10. 90
  11. 30
  12. the bill or receipt
  13. 30
  14. 20
  15. 10
  16. income − expenses
  17. income
  18. printing posters
  19. False
  20. a card order paid
  21. 90
  22. 40
  23. 240
  24. tutoring fees received
  25. 60
  26. 850
  27. 140
  28. cash from selling plants
  29. 90
  30. 30
  31. 570
  32. 130
  33. 110
  34. 10
  35. 200
  36. buying lemons
  37. 570
  38. 220
  39. bus fare to the market
  40. 20

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