Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 850 · 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.Riya’s stall took in ₹50 on Friday, ₹90 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
2. 2.True or false: “buying paper cups” is income (money in). (a) True (b) False
3. 3.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) a selfie (d) only the bag
4. 4.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) cash from selling plants (d) bus fare to the market
5. 5.Kavya’s stall took in ₹280 on Friday, ₹170 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
6. 6.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) no reason (d) to fill a notebook
7. 7.Kabir’s stall took in ₹60 on Friday, ₹360 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
8. 8.Gurpreet’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹10 (transport)
   Expense: ₹110 (lemons)
   How much is the loss (in ₹)?
9. 9.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) buying lemons (d) tutoring fees received
10. 10.Arjun’s stall took in ₹110 on Friday, ₹290 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
11. 11.Tara’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹180 (lemons)
    Expense: ₹160 (ribbon)
    How much is the loss (in ₹)?
12. 12.True or false: “a card order paid” is an expense (money out). (a) True (b) False
13. 13.Lakshmi’s income was ₹330 and the profit was ₹180. One expense was ₹80 (posters). How much was the other expense, for transport (in ₹)?
14. 14.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) printing posters (d) money from sales
15. 15.True or false: “printing posters” is income (money in). (a) False (b) True
16. 16.📒 Income or expense: tutoring fees received? (a) income (b) expense
17. 17.Zoya’s stall took in ₹290 on Friday, ₹120 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
18. 18.Zoya’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹30 (paper cups)
    Expense: ₹60 (card paper)
    How much is the loss (in ₹)?
19. 19.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
20. 20.Lakshmi’s income was ₹440 and the profit was ₹240. One expense was ₹160 (sugar). How much was the other expense, for card paper (in ₹)?
21. 21.Kavya’s stall took in ₹80 on Friday, ₹60 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
22. 22.Rohan’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹260 (card paper)
    Expense: ₹50 (sugar)
    How much is the loss (in ₹)?
23. 23.Lakshmi’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹100 (ribbon)
    Expense: ₹130 (lemons)
    What is the profit (in ₹)?
24. 24.Riya’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹140 (ribbon)
    Expense: ₹100 (transport)
    How much is the loss (in ₹)?
25. 25.Ishaan’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹120 (ribbon)
    Expense: ₹40 (posters)
    What is the profit (in ₹)?
26. 26.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) a card order paid (d) buying lemons
27. 27.Ananya’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹50 (paper cups)
    Expense: ₹120 (transport)
    How much is the loss (in ₹)?
28. 28.Saanvi’s income was ₹310 and the profit was ₹100. One expense was ₹110 (card paper). How much was the other expense, for sugar (in ₹)?
29. 29.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) bus fare to the market (d) money from sales
30. 30.Which of these is an expense (money out)? (a) buying lemons (b) a card order paid (c) tutoring fees received (d) cash from selling plants
31. 31.Aarav’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹200 (paper cups)
    Expense: ₹60 (posters)
    What is the profit (in ₹)?
32. 32.Kavya’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹150 (stall fee)
    Expense: ₹80 (sugar)
    How much is the loss (in ₹)?
33. 33.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) never (d) once a year
34. 34.➖ Profit in your records = (a) income + expenses (b) just the income (c) income − expenses (d) expenses − income
35. 35.Arjun’s income was ₹120 and the profit was ₹20. One expense was ₹30 (stall fee). How much was the other expense, for posters (in ₹)?
36. 36.📒 Income or expense: a card order paid? (a) income (b) expense
37. 37.📒 Income or expense: paying the stall fee? (a) expense (b) income
38. 38.Nisha’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹100 (paper cups)
    Expense: ₹120 (stall fee)
    What is the profit (in ₹)?
39. 39.Saanvi’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹20 (ribbon)
    Expense: ₹170 (sugar)
    How much is the loss (in ₹)?
40. 40.📒 Income or expense: buying paper cups? (a) expense (b) income

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