Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 163 · 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: “paying the stall fee” is an expense (money out). (a) True (b) False
2. 2.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) no reason (d) to look busy
3. 3.Joseph’s record for a rainy day:
   Income: ₹170 (sales)
   Expense: ₹20 (lemons)
   Expense: ₹250 (sugar)
   How much is the loss (in ₹)?
4. 4.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) payment for a cake order (d) buying paper cups
5. 5.Diya’s record for a rainy day:
   Income: ₹200 (sales)
   Expense: ₹90 (paper cups)
   Expense: ₹170 (sugar)
   How much is the loss (in ₹)?
6. 6.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
7. 7.📒 Income or expense: bus fare to the market? (a) income (b) expense
8. 8.True or false: “printing posters” is an expense (money out). (a) False (b) True
9. 9.Nisha’s stall took in ₹110 on Friday, ₹340 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
10. 10.Lakshmi’s income was ₹340 and the profit was ₹130. One expense was ₹110 (paper cups). How much was the other expense, for transport (in ₹)?
11. 11.Ishaan’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹20 (ribbon)
    Expense: ₹70 (lemons)
    What is the profit (in ₹)?
12. 12.Which of these is income (money in)? (a) bus fare to the market (b) a card order paid (c) buying lemons (d) paying the stall fee
13. 13.Lakshmi’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹210 (card paper)
    Expense: ₹90 (stall fee)
    How much is the loss (in ₹)?
14. 14.📒 Income or expense: buying paper cups? (a) income (b) expense
15. 15.Tara’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹260 (card paper)
    Expense: ₹50 (stall fee)
    How much is the loss (in ₹)?
16. 16.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
17. 17.📒 Income or expense: buying lemons? (a) income (b) expense
18. 18.Dev’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹20 (sugar)
    What is the profit (in ₹)?
19. 19.Ishaan’s income was ₹220 and the profit was ₹30. One expense was ₹100 (lemons). How much was the other expense, for paper cups (in ₹)?
20. 20.Riya’s income was ₹270 and the profit was ₹190. One expense was ₹30 (posters). How much was the other expense, for card paper (in ₹)?
21. 21.📒 Income or expense: payment for a cake order? (a) expense (b) income
22. 22.➖ Profit in your records = (a) just the income (b) income − expenses (c) expenses − income (d) income + expenses
23. 23.True or false: “buying lemons” is an expense (money out). (a) True (b) False
24. 24.Diya’s income was ₹200 and the profit was ₹50. One expense was ₹100 (lemons). How much was the other expense, for posters (in ₹)?
25. 25.True or false: “bus fare to the market” is income (money in). (a) False (b) True
26. 26.Aarav’s stall took in ₹380 on Friday, ₹320 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
27. 27.Dev’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹190 (ribbon)
    Expense: ₹70 (paper cups)
    What is the profit (in ₹)?
28. 28.Tara’s stall took in ₹300 on Friday, ₹290 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
29. 29.Joseph’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹40 (sugar)
    Expense: ₹40 (lemons)
    What is the profit (in ₹)?
30. 30.📒 Income or expense: paying the stall fee? (a) expense (b) income
31. 31.Kabir’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹130 (posters)
    Expense: ₹40 (stall fee)
    How much is the loss (in ₹)?
32. 32.Which of these is income (money in)? (a) tutoring fees received (b) printing posters (c) buying paper cups (d) bus fare to the market
33. 33.True or false: “buying paper cups” is income (money in). (a) False (b) True
34. 34.True or false: “tutoring fees received” is income (money in). (a) True (b) False
35. 35.Gurpreet’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹140 (lemons)
    Expense: ₹100 (transport)
    What is the profit (in ₹)?
36. 36.Saanvi’s stall took in ₹290 on Friday, ₹220 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
37. 37.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) the bill or receipt (d) a selfie
38. 38.Vihaan’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹440 (evening sales)
    Expense: ₹190 (sugar)
    Expense: ₹30 (transport)
    What is the profit (in ₹)?
39. 39.Which of these is an expense (money out)? (a) payment for a cake order (b) paying the stall fee (c) tutoring fees received (d) a card order paid
40. 40.Meera’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹20 (lemons)
    Expense: ₹140 (stall fee)
    What is the profit (in ₹)?

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