Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 992 · 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.Diya’s stall took in ₹250 on Friday, ₹130 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
2. 2.Kavya’s record for the day:
   Income: ₹270 (morning sales)
   Income: ₹90 (evening sales)
   Expense: ₹120 (lemons)
   Expense: ₹90 (stall fee)
   What is the profit (in ₹)?
3. 3.Ananya’s income was ₹180 and the profit was ₹80. One expense was ₹10 (card paper). How much was the other expense, for sugar (in ₹)?
4. 4.True or false: “money from sales” is income (money in). (a) True (b) False
5. 5.Arjun’s record for the day:
   Income: ₹270 (morning sales)
   Income: ₹110 (evening sales)
   Expense: ₹30 (stall fee)
   Expense: ₹170 (paper cups)
   What is the profit (in ₹)?
6. 6.📒 Income or expense: money from sales? (a) expense (b) income
7. 7.Ishaan’s record for a rainy day:
   Income: ₹140 (sales)
   Expense: ₹200 (ribbon)
   Expense: ₹40 (transport)
   How much is the loss (in ₹)?
8. 8.📒 Income or expense: a card order paid? (a) expense (b) income
9. 9.Saanvi’s record for a rainy day:
   Income: ₹290 (sales)
   Expense: ₹210 (transport)
   Expense: ₹140 (posters)
   How much is the loss (in ₹)?
10. 10.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) just the income (d) expenses − income
11. 11.True or false: “money from sales” is an expense (money out). (a) True (b) False
12. 12.Kabir’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹100 (sugar)
    Expense: ₹270 (posters)
    How much is the loss (in ₹)?
13. 13.Aarav’s income was ₹130 and the profit was ₹50. One expense was ₹60 (lemons). How much was the other expense, for paper cups (in ₹)?
14. 14.📒 Income or expense: bus fare to the market? (a) income (b) expense
15. 15.📒 Income or expense: printing posters? (a) expense (b) income
16. 16.📒 Income or expense: buying lemons? (a) income (b) expense
17. 17.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) nothing (d) only the bag
18. 18.Diya’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹110 (card paper)
    Expense: ₹40 (posters)
    What is the profit (in ₹)?
19. 19.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) buying paper cups (d) a card order paid
20. 20.Kabir’s stall took in ₹200 on Friday, ₹290 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
21. 21.Gurpreet’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹70 (posters)
    Expense: ₹60 (paper cups)
    What is the profit (in ₹)?
22. 22.True or false: “payment for a cake order” is income (money in). (a) False (b) True
23. 23.Meera’s stall took in ₹140 on Friday, ₹130 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
24. 24.📒 Income or expense: tutoring fees received? (a) income (b) expense
25. 25.📒 Income or expense: buying paper cups? (a) expense (b) income
26. 26.Vihaan’s stall took in ₹340 on Friday, ₹160 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
27. 27.Ananya’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹40 (posters)
    Expense: ₹120 (ribbon)
    How much is the loss (in ₹)?
28. 28.Rohan’s stall took in ₹220 on Friday, ₹50 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
29. 29.Kabir’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹60 (transport)
    Expense: ₹100 (card paper)
    What is the profit (in ₹)?
30. 30.Arjun’s stall took in ₹60 on Friday, ₹150 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
31. 31.Kavya’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹20 (lemons)
    Expense: ₹120 (stall fee)
    What is the profit (in ₹)?
32. 32.True or false: “buying paper cups” is income (money in). (a) False (b) True
33. 33.📅 When is the best time to update your records? (a) once a year (b) never (c) the same day (d) whenever you like
34. 34.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) no reason (d) to know the real profit
35. 35.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
36. 36.Which of these is an expense (money out)? (a) buying lemons (b) money from sales (c) a card order paid (d) tutoring fees received
37. 37.Aarav’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹10 (stall fee)
    Expense: ₹100 (lemons)
    How much is the loss (in ₹)?
38. 38.True or false: “buying lemons” is income (money in). (a) False (b) True
39. 39.📒 Income or expense: payment for a cake order? (a) income (b) expense
40. 40.Rohan’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹400 (evening sales)
    Expense: ₹190 (transport)
    Expense: ₹110 (card paper)
    What is the profit (in ₹)?

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