Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 228 · 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 income (money in). (a) False (b) True
2. 2.Riya’s record for a rainy day:
   Income: ₹240 (sales)
   Expense: ₹250 (posters)
   Expense: ₹50 (stall fee)
   How much is the loss (in ₹)?
3. 3.➖ Profit in your records = (a) just the income (b) income − expenses (c) income + expenses (d) expenses − income
4. 4.Which of these is income (money in)? (a) money from sales (b) buying paper cups (c) buying lemons (d) printing posters
5. 5.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
6. 6.Lakshmi’s record for the day:
   Income: ₹50 (morning sales)
   Income: ₹210 (evening sales)
   Expense: ₹20 (transport)
   Expense: ₹140 (card paper)
   What is the profit (in ₹)?
7. 7.📒 Income or expense: buying lemons? (a) expense (b) income
8. 8.Diya’s income was ₹210 and the profit was ₹190. One expense was ₹10 (card paper). How much was the other expense, for paper cups (in ₹)?
9. 9.Joseph’s income was ₹200 and the profit was ₹120. One expense was ₹10 (ribbon). How much was the other expense, for card paper (in ₹)?
10. 10.📒 Income or expense: paying the stall fee? (a) expense (b) income
11. 11.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) the same day (d) never
12. 12.Nisha’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹90 (sugar)
    Expense: ₹110 (lemons)
    How much is the loss (in ₹)?
13. 13.True or false: “printing posters” is an expense (money out). (a) False (b) True
14. 14.📒 Income or expense: money from sales? (a) expense (b) income
15. 15.Vihaan’s income was ₹210 and the profit was ₹20. One expense was ₹160 (paper cups). How much was the other expense, for stall fee (in ₹)?
16. 16.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) a selfie (d) the bill or receipt
17. 17.True or false: “payment for a cake order” is income (money in). (a) True (b) False
18. 18.📒 Income or expense: a card order paid? (a) expense (b) income
19. 19.📒 Income or expense: payment for a cake order? (a) expense (b) income
20. 20.Nisha’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹110 (sugar)
    Expense: ₹40 (ribbon)
    How much is the loss (in ₹)?
21. 21.Arjun’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹80 (lemons)
    Expense: ₹160 (ribbon)
    What is the profit (in ₹)?
22. 22.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
23. 23.Which of these is an expense (money out)? (a) paying the stall fee (b) payment for a cake order (c) tutoring fees received (d) cash from selling plants
24. 24.Riya’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹100 (transport)
    Expense: ₹70 (sugar)
    How much is the loss (in ₹)?
25. 25.Zoya’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹180 (card paper)
    Expense: ₹80 (lemons)
    How much is the loss (in ₹)?
26. 26.True or false: “a card order paid” is an expense (money out). (a) False (b) True
27. 27.Rohan’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹50 (ribbon)
    Expense: ₹80 (lemons)
    What is the profit (in ₹)?
28. 28.Saanvi’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹20 (card paper)
    Expense: ₹40 (posters)
    What is the profit (in ₹)?
29. 29.Joseph’s stall took in ₹90 on Friday, ₹270 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
30. 30.Which of these is an expense (money out)? (a) bus fare to the market (b) payment for a cake order (c) money from sales (d) cash from selling plants
31. 31.Which of these is an expense (money out)? (a) buying lemons (b) cash from selling plants (c) money from sales (d) payment for a cake order
32. 32.Nisha’s stall took in ₹180 on Friday, ₹100 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
33. 33.📒 Income or expense: bus fare to the market? (a) income (b) expense
34. 34.Vihaan’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹90 (posters)
    Expense: ₹80 (sugar)
    How much is the loss (in ₹)?
35. 35.Rohan’s income was ₹210 and the profit was ₹50. One expense was ₹30 (paper cups). How much was the other expense, for stall fee (in ₹)?
36. 36.Farhan’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹260 (paper cups)
    Expense: ₹30 (stall fee)
    How much is the loss (in ₹)?
37. 37.Diya’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹100 (sugar)
    Expense: ₹130 (ribbon)
    What is the profit (in ₹)?
38. 38.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
39. 39.Which of these is income (money in)? (a) buying lemons (b) cash from selling plants (c) bus fare to the market (d) buying paper cups
40. 40.Arjun’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹140 (card paper)
    Expense: ₹80 (lemons)
    What is the profit (in ₹)?

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