Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 980 · 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 ₹310 and the profit was ₹230. One expense was ₹70 (lemons). How much was the other expense, for sugar (in ₹)?
2. 2.Which of these is an expense (money out)? (a) buying lemons (b) payment for a cake order (c) a card order paid (d) tutoring fees received
3. 3.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) once a year (d) never
4. 4.Diya’s record for the day:
   Income: ₹30 (morning sales)
   Income: ₹510 (evening sales)
   Expense: ₹120 (posters)
   Expense: ₹150 (card paper)
   What is the profit (in ₹)?
5. 5.Tara’s record for a rainy day:
   Income: ₹150 (sales)
   Expense: ₹40 (ribbon)
   Expense: ₹170 (transport)
   How much is the loss (in ₹)?
6. 6.True or false: “buying paper cups” is income (money in). (a) False (b) True
7. 7.Diya’s stall took in ₹100 on Friday, ₹320 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
8. 8.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) income − expenses (d) just the income
9. 9.📒 Why write down every sale and cost? (a) to look busy (b) to know the real profit (c) no reason (d) to fill a notebook
10. 10.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) a selfie (d) only the bag
11. 11.Nisha’s stall took in ₹220 on Friday, ₹300 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
12. 12.Joseph’s stall took in ₹300 on Friday, ₹250 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
13. 13.Dev’s income was ₹120 and the profit was ₹60. One expense was ₹20 (lemons). How much was the other expense, for paper cups (in ₹)?
14. 14.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) paying the stall fee (d) money from sales
15. 15.Ananya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹30 (transport)
    Expense: ₹180 (ribbon)
    What is the profit (in ₹)?
16. 16.True or false: “tutoring fees received” is income (money in). (a) False (b) True
17. 17.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) buying paper cups (d) cash from selling plants
18. 18.Arjun’s stall took in ₹370 on Friday, ₹80 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
19. 19.Rohan’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹350 (sugar)
    Expense: ₹10 (stall fee)
    How much is the loss (in ₹)?
20. 20.📒 Income or expense: money from sales? (a) income (b) expense
21. 21.📒 Income or expense: bus fare to the market? (a) expense (b) income
22. 22.Saanvi’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹120 (lemons)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?
23. 23.📒 Income or expense: paying the stall fee? (a) expense (b) income
24. 24.True or false: “payment for a cake order” is income (money in). (a) False (b) True
25. 25.Dev’s income was ₹380 and the profit was ₹30. One expense was ₹160 (posters). How much was the other expense, for ribbon (in ₹)?
26. 26.Meera’s stall took in ₹100 on Friday, ₹260 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
27. 27.Kavya’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹30 (lemons)
    Expense: ₹60 (ribbon)
    What is the profit (in ₹)?
28. 28.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) payment for a cake order (d) printing posters
29. 29.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) buying paper cups (d) cash from selling plants
30. 30.Which of these is an expense (money out)? (a) tutoring fees received (b) bus fare to the market (c) money from sales (d) payment for a cake order
31. 31.Farhan’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹170 (lemons)
    Expense: ₹60 (stall fee)
    What is the profit (in ₹)?
32. 32.📒 Income or expense: a card order paid? (a) expense (b) income
33. 33.Which of these is income (money in)? (a) tutoring fees received (b) bus fare to the market (c) paying the stall fee (d) printing posters
34. 34.Diya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹20 (card paper)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?
35. 35.Diya’s income was ₹130 and the profit was ₹100. One expense was ₹20 (sugar). How much was the other expense, for stall fee (in ₹)?
36. 36.📒 Income or expense: buying paper cups? (a) income (b) expense
37. 37.Kavya’s stall took in ₹360 on Friday, ₹340 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
38. 38.Kabir’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹30 (sugar)
    Expense: ₹260 (paper cups)
    How much is the loss (in ₹)?
39. 39.True or false: “paying the stall fee” is income (money in). (a) True (b) False
40. 40.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True

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