Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 790 · 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 ₹80 on Friday, ₹390 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
2. 2.Vihaan’s record for a rainy day:
   Income: ₹170 (sales)
   Expense: ₹20 (stall fee)
   Expense: ₹160 (sugar)
   How much is the loss (in ₹)?
3. 3.Tara’s income was ₹490 and the profit was ₹330. One expense was ₹130 (posters). How much was the other expense, for lemons (in ₹)?
4. 4.📒 Income or expense: buying paper cups? (a) expense (b) income
5. 5.Saanvi’s income was ₹180 and the profit was ₹20. One expense was ₹80 (card paper). How much was the other expense, for transport (in ₹)?
6. 6.📒 Income or expense: printing posters? (a) income (b) expense
7. 7.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
8. 8.Zoya’s income was ₹300 and the profit was ₹140. One expense was ₹20 (posters). How much was the other expense, for ribbon (in ₹)?
9. 9.True or false: “payment for a cake order” is income (money in). (a) False (b) True
10. 10.Lakshmi’s income was ₹190 and the profit was ₹130. One expense was ₹40 (paper cups). How much was the other expense, for sugar (in ₹)?
11. 11.True or false: “money from sales” is an expense (money out). (a) True (b) False
12. 12.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) payment for a cake order (d) printing posters
13. 13.True or false: “a card order paid” is an expense (money out). (a) True (b) False
14. 14.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to know the real profit (d) to fill a notebook
15. 15.Zoya’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹30 (paper cups)
    Expense: ₹150 (sugar)
    What is the profit (in ₹)?
16. 16.📒 Income or expense: bus fare to the market? (a) income (b) expense
17. 17.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) buying paper cups (d) tutoring fees received
18. 18.True or false: “printing posters” is income (money in). (a) False (b) True
19. 19.Arjun’s stall took in ₹330 on Friday, ₹220 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
20. 20.Joseph’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹60 (card paper)
    Expense: ₹60 (ribbon)
    What is the profit (in ₹)?
21. 21.Which of these is income (money in)? (a) printing posters (b) money from sales (c) buying lemons (d) bus fare to the market
22. 22.📒 Income or expense: cash from selling plants? (a) income (b) expense
23. 23.Tara’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹70 (sugar)
    Expense: ₹30 (card paper)
    How much is the loss (in ₹)?
24. 24.True or false: “buying paper cups” is income (money in). (a) True (b) False
25. 25.📒 Income or expense: paying the stall fee? (a) income (b) expense
26. 26.Ananya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹190 (card paper)
    Expense: ₹60 (lemons)
    What is the profit (in ₹)?
27. 27.Diya’s income was ₹330 and the profit was ₹300. One expense was ₹10 (paper cups). How much was the other expense, for stall fee (in ₹)?
28. 28.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
29. 29.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) a card order paid (d) buying lemons
30. 30.Kavya’s income was ₹350 and the profit was ₹70. One expense was ₹120 (paper cups). How much was the other expense, for card paper (in ₹)?
31. 31.Saanvi’s stall took in ₹130 on Friday, ₹320 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
32. 32.📅 When is the best time to update your records? (a) whenever you like (b) never (c) the same day (d) once a year
33. 33.Tara’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹20 (transport)
    Expense: ₹180 (ribbon)
    What is the profit (in ₹)?
34. 34.Diya’s stall took in ₹320 on Friday, ₹270 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
35. 35.📒 Income or expense: money from sales? (a) expense (b) income
36. 36.Nisha’s income was ₹360 and the profit was ₹150. One expense was ₹130 (ribbon). How much was the other expense, for posters (in ₹)?
37. 37.Ananya’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹40 (transport)
    Expense: ₹100 (sugar)
    What is the profit (in ₹)?
38. 38.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) the bill or receipt (d) only the bag
39. 39.Rohan’s stall took in ₹150 on Friday, ₹380 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
40. 40.📒 Income or expense: tutoring fees received? (a) income (b) expense

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