Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 986 · 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.Rohan’s stall took in ₹80 on Friday, ₹50 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
2. 2.Dev’s record for a rainy day:
   Income: ₹290 (sales)
   Expense: ₹190 (lemons)
   Expense: ₹140 (stall fee)
   How much is the loss (in ₹)?
3. 3.📒 Income or expense: money from sales? (a) expense (b) income
4. 4.Ananya’s stall took in ₹90 on Friday, ₹120 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
5. 5.📅 When is the best time to update your records? (a) whenever you like (b) never (c) once a year (d) the same day
6. 6.📒 Income or expense: a card order paid? (a) expense (b) income
7. 7.Dev’s record for the day:
   Income: ₹440 (morning sales)
   Income: ₹60 (evening sales)
   Expense: ₹160 (paper cups)
   Expense: ₹160 (transport)
   What is the profit (in ₹)?
8. 8.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to fill a notebook (d) to know the real profit
9. 9.Ananya’s record for the day:
   Income: ₹90 (morning sales)
   Income: ₹190 (evening sales)
   Expense: ₹170 (transport)
   Expense: ₹20 (lemons)
   What is the profit (in ₹)?
10. 10.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) just the income (d) income + expenses
11. 11.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) only the bag (d) a selfie
12. 12.Ananya’s income was ₹440 and the profit was ₹50. One expense was ₹220 (lemons). How much was the other expense, for ribbon (in ₹)?
13. 13.Which of these is income (money in)? (a) bus fare to the market (b) money from sales (c) printing posters (d) buying paper cups
14. 14.Kavya’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹380 (evening sales)
    Expense: ₹160 (posters)
    Expense: ₹20 (stall fee)
    What is the profit (in ₹)?
15. 15.Arjun’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹130 (sugar)
    What is the profit (in ₹)?
16. 16.📒 Income or expense: printing posters? (a) income (b) expense
17. 17.Aarav’s stall took in ₹360 on Friday, ₹400 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
18. 18.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) cash from selling plants (d) buying lemons
19. 19.📒 Income or expense: buying lemons? (a) income (b) expense
20. 20.Dev’s income was ₹250 and the profit was ₹10. One expense was ₹130 (sugar). How much was the other expense, for transport (in ₹)?
21. 21.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) bus fare to the market (d) payment for a cake order
22. 22.True or false: “tutoring fees received” is income (money in). (a) True (b) False
23. 23.Riya’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹160 (transport)
    Expense: ₹40 (lemons)
    What is the profit (in ₹)?
24. 24.True or false: “payment for a cake order” is income (money in). (a) False (b) True
25. 25.Aarav’s stall took in ₹350 on Friday, ₹160 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
26. 26.Saanvi’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹420 (evening sales)
    Expense: ₹180 (posters)
    Expense: ₹200 (sugar)
    What is the profit (in ₹)?
27. 27.Ishaan’s record for the day:
    Income: ₹450 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹160 (lemons)
    Expense: ₹130 (paper cups)
    What is the profit (in ₹)?
28. 28.Ishaan’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹130 (paper cups)
    Expense: ₹120 (sugar)
    How much is the loss (in ₹)?
29. 29.Which of these is an expense (money out)? (a) paying the stall fee (b) a card order paid (c) cash from selling plants (d) money from sales
30. 30.Vihaan’s stall took in ₹60 on Friday, ₹360 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
31. 31.Riya’s income was ₹120 and the profit was ₹40. One expense was ₹50 (paper cups). How much was the other expense, for transport (in ₹)?
32. 32.Vihaan’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹400 (evening sales)
    Expense: ₹190 (stall fee)
    Expense: ₹60 (paper cups)
    What is the profit (in ₹)?
33. 33.Ananya’s income was ₹490 and the profit was ₹460. One expense was ₹20 (lemons). How much was the other expense, for transport (in ₹)?
34. 34.Lakshmi’s stall took in ₹290 on Friday, ₹310 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
35. 35.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) tutoring fees received (d) buying paper cups
36. 36.Kabir’s stall took in ₹140 on Friday, ₹240 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
37. 37.📒 Income or expense: cash from selling plants? (a) expense (b) income
38. 38.Which of these is income (money in)? (a) printing posters (b) cash from selling plants (c) buying paper cups (d) bus fare to the market
39. 39.Diya’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹10 (lemons)
    Expense: ₹190 (transport)
    How much is the loss (in ₹)?
40. 40.Saanvi’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹70 (posters)
    Expense: ₹160 (stall fee)
    What is the profit (in ₹)?

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