Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 842 · 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.Kabir’s record for the day:
   Income: ₹130 (morning sales)
   Income: ₹130 (evening sales)
   Expense: ₹120 (stall fee)
   Expense: ₹110 (ribbon)
   What is the profit (in ₹)?
2. 2.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) no reason (d) to look busy
3. 3.📒 Income or expense: paying the stall fee? (a) expense (b) income
4. 4.Aarav’s stall took in ₹130 on Friday, ₹140 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
5. 5.Which of these is an expense (money out)? (a) payment for a cake order (b) buying paper cups (c) a card order paid (d) cash from selling plants
6. 6.Arjun’s record for the day:
   Income: ₹150 (morning sales)
   Income: ₹410 (evening sales)
   Expense: ₹200 (sugar)
   Expense: ₹170 (posters)
   What is the profit (in ₹)?
7. 7.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
8. 8.True or false: “buying lemons” is income (money in). (a) True (b) False
9. 9.📒 Income or expense: payment for a cake order? (a) income (b) expense
10. 10.Dev’s stall took in ₹190 on Friday, ₹290 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
11. 11.Meera’s stall took in ₹120 on Friday, ₹90 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
12. 12.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) a card order paid (d) printing posters
13. 13.Zoya’s stall took in ₹290 on Friday, ₹140 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
14. 14.True or false: “paying the stall fee” is income (money in). (a) True (b) False
15. 15.Kavya’s stall took in ₹330 on Friday, ₹390 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
16. 16.📒 Income or expense: a card order paid? (a) income (b) expense
17. 17.Nisha’s stall took in ₹150 on Friday, ₹140 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
18. 18.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
19. 19.Kabir’s income was ₹240 and the profit was ₹30. One expense was ₹30 (posters). How much was the other expense, for lemons (in ₹)?
20. 20.True or false: “buying paper cups” is income (money in). (a) False (b) True
21. 21.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) money from sales (d) bus fare to the market
22. 22.Ishaan’s stall took in ₹300 on Friday, ₹270 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
23. 23.Aarav’s stall took in ₹360 on Friday, ₹150 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
24. 24.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) income + expenses (d) just the income
25. 25.Rohan’s stall took in ₹210 on Friday, ₹140 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
26. 26.📒 Income or expense: buying lemons? (a) expense (b) income
27. 27.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) nothing (d) a selfie
28. 28.📒 Income or expense: money from sales? (a) income (b) expense
29. 29.Joseph’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹140 (paper cups)
    Expense: ₹180 (card paper)
    How much is the loss (in ₹)?
30. 30.Lakshmi’s income was ₹420 and the profit was ₹60. One expense was ₹180 (paper cups). How much was the other expense, for lemons (in ₹)?
31. 31.Ishaan’s income was ₹270 and the profit was ₹10. One expense was ₹110 (card paper). How much was the other expense, for paper cups (in ₹)?
32. 32.Meera’s stall took in ₹290 on Friday, ₹390 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
33. 33.Ishaan’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹80 (card paper)
    Expense: ₹250 (transport)
    How much is the loss (in ₹)?
34. 34.Tara’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹100 (transport)
    Expense: ₹20 (lemons)
    How much is the loss (in ₹)?
35. 35.📒 Income or expense: cash from selling plants? (a) expense (b) income
36. 36.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
37. 37.Lakshmi’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹130 (posters)
    Expense: ₹160 (lemons)
    What is the profit (in ₹)?
38. 38.Aarav’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹210 (card paper)
    Expense: ₹60 (paper cups)
    How much is the loss (in ₹)?
39. 39.Farhan’s stall took in ₹80 on Friday, ₹270 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
40. 40.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False

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