Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 960 · 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.Nisha’s record for the day:
   Income: ₹70 (morning sales)
   Income: ₹210 (evening sales)
   Expense: ₹20 (stall fee)
   Expense: ₹180 (lemons)
   What is the profit (in ₹)?
2. 2.Zoya’s income was ₹220 and the profit was ₹180. One expense was ₹20 (stall fee). How much was the other expense, for transport (in ₹)?
3. 3.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
4. 4.Lakshmi’s stall took in ₹120 on Friday, ₹50 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
5. 5.Kabir’s stall took in ₹90 on Friday, ₹70 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
6. 6.📅 When is the best time to update your records? (a) never (b) once a year (c) whenever you like (d) the same day
7. 7.Lakshmi’s record for the day:
   Income: ₹240 (morning sales)
   Income: ₹290 (evening sales)
   Expense: ₹150 (card paper)
   Expense: ₹130 (paper cups)
   What is the profit (in ₹)?
8. 8.Saanvi’s stall took in ₹260 on Friday, ₹140 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
9. 9.Vihaan’s record for the day:
   Income: ₹20 (morning sales)
   Income: ₹350 (evening sales)
   Expense: ₹170 (posters)
   Expense: ₹40 (transport)
   What is the profit (in ₹)?
10. 10.Ishaan’s stall took in ₹170 on Friday, ₹270 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
11. 11.Which of these is income (money in)? (a) paying the stall fee (b) cash from selling plants (c) buying lemons (d) printing posters
12. 12.Riya’s income was ₹400 and the profit was ₹90. One expense was ₹40 (paper cups). How much was the other expense, for ribbon (in ₹)?
13. 13.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) buying lemons (d) money from sales
14. 14.📒 Income or expense: buying lemons? (a) expense (b) income
15. 15.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) tutoring fees received (d) paying the stall fee
16. 16.Aarav’s stall took in ₹50 on Friday, ₹110 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
17. 17.📒 Income or expense: printing posters? (a) income (b) expense
18. 18.True or false: “a card order paid” is income (money in). (a) True (b) False
19. 19.True or false: “tutoring fees received” is income (money in). (a) False (b) True
20. 20.Tara’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹10 (transport)
    Expense: ₹290 (stall fee)
    How much is the loss (in ₹)?
21. 21.Saanvi’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹120 (paper cups)
    Expense: ₹220 (lemons)
    How much is the loss (in ₹)?
22. 22.📒 Income or expense: cash from selling plants? (a) income (b) expense
23. 23.True or false: “buying lemons” is income (money in). (a) True (b) False
24. 24.Arjun’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹40 (paper cups)
    Expense: ₹200 (lemons)
    How much is the loss (in ₹)?
25. 25.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to know the real profit (d) to fill a notebook
26. 26.Arjun’s income was ₹310 and the profit was ₹250. One expense was ₹50 (lemons). How much was the other expense, for card paper (in ₹)?
27. 27.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) buying lemons (d) cash from selling plants
28. 28.True or false: “buying paper cups” is income (money in). (a) True (b) False
29. 29.Farhan’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹350 (ribbon)
    Expense: ₹30 (card paper)
    How much is the loss (in ₹)?
30. 30.📒 Income or expense: buying paper cups? (a) income (b) expense
31. 31.📒 Income or expense: payment for a cake order? (a) expense (b) income
32. 32.📒 Income or expense: a card order paid? (a) expense (b) income
33. 33.Saanvi’s stall took in ₹220 on Friday, ₹260 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
34. 34.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) payment for a cake order (d) paying the stall fee
35. 35.Riya’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹230 (sugar)
    Expense: ₹40 (lemons)
    How much is the loss (in ₹)?
36. 36.Kabir’s stall took in ₹230 on Friday, ₹90 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
37. 37.Farhan’s stall took in ₹170 on Friday, ₹90 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
38. 38.📒 Income or expense: tutoring fees received? (a) income (b) expense
39. 39.Gurpreet’s income was ₹280 and the profit was ₹10. One expense was ₹110 (card paper). How much was the other expense, for posters (in ₹)?
40. 40.Saanvi’s income was ₹200 and the profit was ₹150. One expense was ₹30 (lemons). How much was the other expense, for posters (in ₹)?

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