Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 217 · 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: “a card order paid” is income (money in). (a) True (b) False
2. 2.Riya’s record for the day:
   Income: ₹100 (morning sales)
   Income: ₹180 (evening sales)
   Expense: ₹180 (ribbon)
   Expense: ₹80 (card paper)
   What is the profit (in ₹)?
3. 3.Zoya’s stall took in ₹120 on Friday, ₹180 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
4. 4.Lakshmi’s record for the day:
   Income: ₹30 (morning sales)
   Income: ₹430 (evening sales)
   Expense: ₹80 (sugar)
   Expense: ₹100 (card paper)
   What is the profit (in ₹)?
5. 5.Meera’s record for a rainy day:
   Income: ₹180 (sales)
   Expense: ₹20 (ribbon)
   Expense: ₹260 (paper cups)
   How much is the loss (in ₹)?
6. 6.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) a selfie (d) the bill or receipt
7. 7.True or false: “money from sales” is income (money in). (a) True (b) False
8. 8.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
9. 9.Riya’s record for the day:
   Income: ₹160 (morning sales)
   Income: ₹20 (evening sales)
   Expense: ₹120 (lemons)
   Expense: ₹20 (card paper)
   What is the profit (in ₹)?
10. 10.Ananya’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹50 (sugar)
    Expense: ₹120 (lemons)
    What is the profit (in ₹)?
11. 11.Kabir’s income was ₹390 and the profit was ₹290. One expense was ₹70 (card paper). How much was the other expense, for ribbon (in ₹)?
12. 12.Gurpreet’s stall took in ₹120 on Friday, ₹110 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
13. 13.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
14. 14.Vihaan’s income was ₹260 and the profit was ₹110. One expense was ₹70 (lemons). How much was the other expense, for card paper (in ₹)?
15. 15.Arjun’s income was ₹250 and the profit was ₹80. One expense was ₹10 (ribbon). How much was the other expense, for transport (in ₹)?
16. 16.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) money from sales (d) bus fare to the market
17. 17.📒 Income or expense: printing posters? (a) expense (b) income
18. 18.📒 Income or expense: buying lemons? (a) income (b) expense
19. 19.📒 Income or expense: money from sales? (a) expense (b) income
20. 20.Zoya’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹40 (paper cups)
    Expense: ₹60 (transport)
    What is the profit (in ₹)?
21. 21.True or false: “tutoring fees received” is income (money in). (a) True (b) False
22. 22.Zoya’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹30 (sugar)
    Expense: ₹100 (stall fee)
    How much is the loss (in ₹)?
23. 23.➖ Profit in your records = (a) income + expenses (b) just the income (c) expenses − income (d) income − expenses
24. 24.Which of these is income (money in)? (a) paying the stall fee (b) payment for a cake order (c) buying paper cups (d) printing posters
25. 25.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) buying paper cups (d) tutoring fees received
26. 26.Which of these is income (money in)? (a) paying the stall fee (b) a card order paid (c) buying paper cups (d) buying lemons
27. 27.📒 Income or expense: tutoring fees received? (a) expense (b) income
28. 28.Tara’s income was ₹250 and the profit was ₹100. One expense was ₹50 (posters). How much was the other expense, for stall fee (in ₹)?
29. 29.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) printing posters (d) tutoring fees received
30. 30.📒 Income or expense: a card order paid? (a) income (b) expense
31. 31.📒 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
32. 32.Aarav’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹20 (paper cups)
    Expense: ₹80 (ribbon)
    What is the profit (in ₹)?
33. 33.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
34. 34.True or false: “buying lemons” is income (money in). (a) True (b) False
35. 35.Saanvi’s income was ₹450 and the profit was ₹190. One expense was ₹210 (ribbon). How much was the other expense, for transport (in ₹)?
36. 36.Which of these is income (money in)? (a) money from sales (b) printing posters (c) buying lemons (d) bus fare to the market
37. 37.Kavya’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹260 (sugar)
    Expense: ₹50 (stall fee)
    How much is the loss (in ₹)?
38. 38.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
39. 39.Tara’s stall took in ₹280 on Friday, ₹50 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
40. 40.Tara’s stall took in ₹110 on Friday, ₹130 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?

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