Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 2 · 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.Lakshmi’s record for a rainy day:
   Income: ₹210 (sales)
   Expense: ₹30 (lemons)
   Expense: ₹190 (posters)
   How much is the loss (in ₹)?
2. 2.📒 Income or expense: bus fare to the market? (a) income (b) expense
3. 3.Rohan’s record for a rainy day:
   Income: ₹270 (sales)
   Expense: ₹260 (sugar)
   Expense: ₹20 (transport)
   How much is the loss (in ₹)?
4. 4.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) tutoring fees received (d) printing posters
5. 5.Tara’s record for the day:
   Income: ₹260 (morning sales)
   Income: ₹10 (evening sales)
   Expense: ₹90 (posters)
   Expense: ₹140 (ribbon)
   What is the profit (in ₹)?
6. 6.Kavya’s record for the day:
   Income: ₹150 (morning sales)
   Income: ₹170 (evening sales)
   Expense: ₹170 (transport)
   Expense: ₹20 (ribbon)
   What is the profit (in ₹)?
7. 7.📒 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
8. 8.True or false: “buying paper cups” is income (money in). (a) True (b) False
9. 9.Dev’s record for a rainy day:
   Income: ₹250 (sales)
   Expense: ₹220 (transport)
   Expense: ₹40 (paper cups)
   How much is the loss (in ₹)?
10. 10.Tara’s stall took in ₹310 on Friday, ₹390 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
11. 11.True or false: “money from sales” is income (money in). (a) False (b) True
12. 12.📒 Income or expense: cash from selling plants? (a) income (b) expense
13. 13.Zoya’s income was ₹440 and the profit was ₹30. One expense was ₹100 (lemons). How much was the other expense, for paper cups (in ₹)?
14. 14.Aarav’s stall took in ₹240 on Friday, ₹100 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
15. 15.True or false: “cash from selling plants” is income (money in). (a) True (b) False
16. 16.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) never (d) once a year
17. 17.Which of these is income (money in)? (a) money from sales (b) buying lemons (c) paying the stall fee (d) printing posters
18. 18.Gurpreet’s income was ₹320 and the profit was ₹240. One expense was ₹70 (posters). How much was the other expense, for stall fee (in ₹)?
19. 19.Which of these is income (money in)? (a) a card order paid (b) printing posters (c) bus fare to the market (d) buying lemons
20. 20.Ananya’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹90 (ribbon)
    Expense: ₹200 (stall fee)
    What is the profit (in ₹)?
21. 21.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
22. 22.Vihaan’s income was ₹180 and the profit was ₹40. One expense was ₹90 (paper cups). How much was the other expense, for posters (in ₹)?
23. 23.Zoya’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹180 (card paper)
    Expense: ₹20 (posters)
    What is the profit (in ₹)?
24. 24.📒 Income or expense: paying the stall fee? (a) income (b) expense
25. 25.📒 Income or expense: buying paper cups? (a) income (b) expense
26. 26.Ananya’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹140 (stall fee)
    Expense: ₹20 (paper cups)
    How much is the loss (in ₹)?
27. 27.True or false: “paying the stall fee” is income (money in). (a) False (b) True
28. 28.Lakshmi’s income was ₹360 and the profit was ₹250. One expense was ₹100 (paper cups). How much was the other expense, for ribbon (in ₹)?
29. 29.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) a selfie (d) only the bag
30. 30.Saanvi’s income was ₹380 and the profit was ₹270. One expense was ₹80 (stall fee). How much was the other expense, for transport (in ₹)?
31. 31.Kavya’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹110 (lemons)
    Expense: ₹80 (stall fee)
    What is the profit (in ₹)?
32. 32.➖ Profit in your records = (a) just the income (b) expenses − income (c) income + expenses (d) income − expenses
33. 33.Dev’s income was ₹450 and the profit was ₹10. One expense was ₹10 (card paper). How much was the other expense, for lemons (in ₹)?
34. 34.Dev’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹30 (sugar)
    Expense: ₹80 (card paper)
    What is the profit (in ₹)?
35. 35.📒 Income or expense: buying lemons? (a) expense (b) income
36. 36.Ananya’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹270 (ribbon)
    Expense: ₹20 (lemons)
    How much is the loss (in ₹)?
37. 37.True or false: “buying lemons” is income (money in). (a) True (b) False
38. 38.📒 Income or expense: money from sales? (a) expense (b) income
39. 39.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) bus fare to the market (d) payment for a cake order
40. 40.Riya’s income was ₹200 and the profit was ₹60. One expense was ₹40 (posters). How much was the other expense, for transport (in ₹)?

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