Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 165 · 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.Joseph’s record for the day:
   Income: ₹360 (morning sales)
   Income: ₹50 (evening sales)
   Expense: ₹100 (card paper)
   Expense: ₹140 (sugar)
   What is the profit (in ₹)?
2. 2.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) payment for a cake order (d) bus fare to the market
3. 3.📒 Income or expense: tutoring fees received? (a) expense (b) income
4. 4.📅 When is the best time to update your records? (a) never (b) whenever you like (c) the same day (d) once a year
5. 5.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) cash from selling plants (d) printing posters
6. 6.True or false: “buying lemons” is income (money in). (a) False (b) True
7. 7.Ishaan’s record for a rainy day:
   Income: ₹260 (sales)
   Expense: ₹50 (lemons)
   Expense: ₹220 (paper cups)
   How much is the loss (in ₹)?
8. 8.True or false: “money from sales” is income (money in). (a) True (b) False
9. 9.Kabir’s stall took in ₹210 on Friday, ₹240 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
10. 10.Arjun’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹410 (evening sales)
    Expense: ₹200 (paper cups)
    Expense: ₹70 (ribbon)
    What is the profit (in ₹)?
11. 11.True or false: “bus fare to the market” is income (money in). (a) False (b) True
12. 12.Which of these is an expense (money out)? (a) money from sales (b) buying paper cups (c) tutoring fees received (d) cash from selling plants
13. 13.Gurpreet’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹40 (card paper)
    Expense: ₹70 (lemons)
    How much is the loss (in ₹)?
14. 14.📒 Income or expense: paying the stall fee? (a) income (b) expense
15. 15.Tara’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹80 (posters)
    Expense: ₹150 (ribbon)
    How much is the loss (in ₹)?
16. 16.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to fill a notebook (d) to look busy
17. 17.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
18. 18.Farhan’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹20 (sugar)
    Expense: ₹70 (paper cups)
    What is the profit (in ₹)?
19. 19.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) only the bag (d) nothing
20. 20.True or false: “payment for a cake order” is income (money in). (a) False (b) True
21. 21.Joseph’s income was ₹380 and the profit was ₹60. One expense was ₹310 (lemons). How much was the other expense, for sugar (in ₹)?
22. 22.Kavya’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹170 (card paper)
    Expense: ₹30 (paper cups)
    What is the profit (in ₹)?
23. 23.Kavya’s stall took in ₹140 on Friday, ₹380 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
24. 24.Rohan’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹50 (paper cups)
    Expense: ₹120 (sugar)
    What is the profit (in ₹)?
25. 25.Tara’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹380 (evening sales)
    Expense: ₹50 (sugar)
    Expense: ₹90 (lemons)
    What is the profit (in ₹)?
26. 26.Ishaan’s stall took in ₹120 on Friday, ₹60 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
27. 27.True or false: “printing posters” is income (money in). (a) True (b) False
28. 28.Diya’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹20 (transport)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
29. 29.📒 Income or expense: buying lemons? (a) income (b) expense
30. 30.Lakshmi’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹160 (stall fee)
    Expense: ₹70 (ribbon)
    How much is the loss (in ₹)?
31. 31.Ananya’s stall took in ₹50 on Friday, ₹100 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
32. 32.Kavya’s income was ₹290 and the profit was ₹100. One expense was ₹50 (transport). How much was the other expense, for posters (in ₹)?
33. 33.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
34. 34.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) buying paper cups (d) a card order paid
35. 35.Nisha’s income was ₹100 and the profit was ₹50. One expense was ₹40 (card paper). How much was the other expense, for sugar (in ₹)?
36. 36.Arjun’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹30 (lemons)
    Expense: ₹240 (ribbon)
    How much is the loss (in ₹)?
37. 37.Saanvi’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹30 (ribbon)
    Expense: ₹200 (paper cups)
    What is the profit (in ₹)?
38. 38.True or false: “a card order paid” is income (money in). (a) False (b) True
39. 39.True or false: “buying lemons” is an expense (money out). (a) False (b) True
40. 40.Tara’s income was ₹410 and the profit was ₹270. One expense was ₹110 (lemons). How much was the other expense, for sugar (in ₹)?

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