Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 148 · 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.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
2. 2.Diya’s record for a rainy day:
   Income: ₹180 (sales)
   Expense: ₹130 (stall fee)
   Expense: ₹130 (ribbon)
   How much is the loss (in ₹)?
3. 3.True or false: “payment for a cake order” is income (money in). (a) True (b) False
4. 4.Which of these is income (money in)? (a) buying lemons (b) a card order paid (c) buying paper cups (d) printing posters
5. 5.📒 Income or expense: a card order paid? (a) expense (b) income
6. 6.Which of these is an expense (money out)? (a) money from sales (b) buying lemons (c) payment for a cake order (d) a card order paid
7. 7.📒 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
8. 8.Kabir’s stall took in ₹180 on Friday, ₹60 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
9. 9.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) the same day (d) never
10. 10.📒 Income or expense: printing posters? (a) income (b) expense
11. 11.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) cash from selling plants (d) paying the stall fee
12. 12.📒 Income or expense: cash from selling plants? (a) income (b) expense
13. 13.📒 Income or expense: buying paper cups? (a) expense (b) income
14. 14.Zoya’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹110 (posters)
    Expense: ₹230 (transport)
    How much is the loss (in ₹)?
15. 15.Diya’s stall took in ₹100 on Friday, ₹100 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
16. 16.Ananya’s stall took in ₹330 on Friday, ₹280 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
17. 17.Kabir’s stall took in ₹320 on Friday, ₹100 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
18. 18.Ishaan’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹140 (lemons)
    Expense: ₹10 (ribbon)
    How much is the loss (in ₹)?
19. 19.Aarav’s stall took in ₹230 on Friday, ₹270 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
20. 20.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) nothing (d) the bill or receipt
21. 21.Which of these is income (money in)? (a) paying the stall fee (b) money from sales (c) buying lemons (d) buying paper cups
22. 22.Aarav’s income was ₹190 and the profit was ₹100. One expense was ₹20 (lemons). How much was the other expense, for card paper (in ₹)?
23. 23.Ananya’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹450 (evening sales)
    Expense: ₹190 (paper cups)
    Expense: ₹90 (ribbon)
    What is the profit (in ₹)?
24. 24.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) cash from selling plants (d) paying the stall fee
25. 25.Kavya’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹120 (ribbon)
    Expense: ₹70 (lemons)
    How much is the loss (in ₹)?
26. 26.Farhan’s income was ₹410 and the profit was ₹150. One expense was ₹20 (card paper). How much was the other expense, for transport (in ₹)?
27. 27.📒 Income or expense: tutoring fees received? (a) expense (b) income
28. 28.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
29. 29.Kavya’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹120 (posters)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
30. 30.True or false: “printing posters” is an expense (money out). (a) True (b) False
31. 31.Aarav’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹190 (stall fee)
    Expense: ₹190 (sugar)
    What is the profit (in ₹)?
32. 32.Kavya’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹80 (ribbon)
    Expense: ₹140 (stall fee)
    How much is the loss (in ₹)?
33. 33.➖ Profit in your records = (a) just the income (b) income + expenses (c) expenses − income (d) income − expenses
34. 34.Tara’s income was ₹320 and the profit was ₹280. One expense was ₹20 (lemons). How much was the other expense, for sugar (in ₹)?
35. 35.📒 Income or expense: buying lemons? (a) income (b) expense
36. 36.Zoya’s income was ₹290 and the profit was ₹150. One expense was ₹50 (stall fee). How much was the other expense, for posters (in ₹)?
37. 37.Saanvi’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹70 (paper cups)
    Expense: ₹240 (transport)
    How much is the loss (in ₹)?
38. 38.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) payment for a cake order (d) printing posters
39. 39.Which of these is income (money in)? (a) payment for a cake order (b) paying the stall fee (c) printing posters (d) bus fare to the market
40. 40.Gurpreet’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹50 (transport)
    What is the profit (in ₹)?

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