Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 976 · 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.Ishaan’s income was ₹480 and the profit was ₹410. One expense was ₹40 (card paper). How much was the other expense, for sugar (in ₹)?
2. 2.➖ Profit in your records = (a) income − expenses (b) income + expenses (c) just the income (d) expenses − income
3. 3.📒 Income or expense: money from sales? (a) income (b) expense
4. 4.Kabir’s stall took in ₹150 on Friday, ₹320 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
5. 5.Diya’s stall took in ₹370 on Friday, ₹400 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
6. 6.📒 Income or expense: buying paper cups? (a) income (b) expense
7. 7.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) bus fare to the market (d) a card order paid
8. 8.Joseph’s record for the day:
   Income: ₹40 (morning sales)
   Income: ₹300 (evening sales)
   Expense: ₹110 (paper cups)
   Expense: ₹40 (stall fee)
   What is the profit (in ₹)?
9. 9.Which of these is income (money in)? (a) paying the stall fee (b) money from sales (c) bus fare to the market (d) buying lemons
10. 10.True or false: “bus fare to the market” is income (money in). (a) False (b) True
11. 11.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) buying paper cups (d) cash from selling plants
12. 12.Arjun’s stall took in ₹260 on Friday, ₹270 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
13. 13.Rohan’s stall took in ₹300 on Friday, ₹280 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
14. 14.📒 Income or expense: tutoring fees received? (a) income (b) expense
15. 15.Saanvi’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹30 (transport)
    Expense: ₹60 (stall fee)
    What is the profit (in ₹)?
16. 16.Aarav’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹240 (sugar)
    Expense: ₹40 (posters)
    How much is the loss (in ₹)?
17. 17.Saanvi’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹110 (transport)
    Expense: ₹80 (stall fee)
    How much is the loss (in ₹)?
18. 18.📒 Income or expense: payment for a cake order? (a) expense (b) income
19. 19.Kabir’s income was ₹320 and the profit was ₹230. One expense was ₹70 (paper cups). How much was the other expense, for stall fee (in ₹)?
20. 20.Arjun’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹40 (paper cups)
    Expense: ₹90 (posters)
    What is the profit (in ₹)?
21. 21.Lakshmi’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹40 (paper cups)
    Expense: ₹30 (lemons)
    What is the profit (in ₹)?
22. 22.Kabir’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹70 (posters)
    Expense: ₹110 (sugar)
    What is the profit (in ₹)?
23. 23.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) cash from selling plants (d) bus fare to the market
24. 24.🧾 What should you keep after buying supplies? (a) nothing (b) a selfie (c) only the bag (d) the bill or receipt
25. 25.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) payment for a cake order (d) paying the stall fee
26. 26.📒 Income or expense: bus fare to the market? (a) expense (b) income
27. 27.True or false: “money from sales” is income (money in). (a) True (b) False
28. 28.Lakshmi’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹240 (transport)
    Expense: ₹90 (stall fee)
    How much is the loss (in ₹)?
29. 29.Kabir’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹100 (stall fee)
    Expense: ₹120 (card paper)
    What is the profit (in ₹)?
30. 30.Kavya’s stall took in ₹110 on Friday, ₹140 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
31. 31.Arjun’s stall took in ₹220 on Friday, ₹260 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
32. 32.Aarav’s stall took in ₹190 on Friday, ₹60 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
33. 33.True or false: “buying paper cups” is income (money in). (a) False (b) True
34. 34.Dev’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹120 (posters)
    Expense: ₹40 (stall fee)
    How much is the loss (in ₹)?
35. 35.Zoya’s income was ₹150 and the profit was ₹120. One expense was ₹10 (lemons). How much was the other expense, for sugar (in ₹)?
36. 36.📅 When is the best time to update your records? (a) never (b) whenever you like (c) once a year (d) the same day
37. 37.Rohan’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹50 (posters)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?
38. 38.Rohan’s stall took in ₹130 on Friday, ₹290 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
39. 39.Joseph’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹180 (lemons)
    Expense: ₹130 (paper cups)
    What is the profit (in ₹)?
40. 40.True or false: “money from sales” is an expense (money out). (a) False (b) True

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