Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 248 · 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.📒 Income or expense: buying paper cups? (a) expense (b) income
2. 2.True or false: “tutoring fees received” is income (money in). (a) False (b) True
3. 3.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) the bill or receipt (d) a selfie
4. 4.📒 Income or expense: money from sales? (a) income (b) expense
5. 5.Vihaan’s record for the day:
   Income: ₹70 (morning sales)
   Income: ₹520 (evening sales)
   Expense: ₹160 (ribbon)
   Expense: ₹160 (paper cups)
   What is the profit (in ₹)?
6. 6.➖ Profit in your records = (a) income − expenses (b) just the income (c) income + expenses (d) expenses − income
7. 7.📒 Income or expense: printing posters? (a) expense (b) income
8. 8.Which of these is an expense (money out)? (a) cash from selling plants (b) buying lemons (c) a card order paid (d) payment for a cake order
9. 9.Kabir’s income was ₹230 and the profit was ₹60. One expense was ₹50 (card paper). How much was the other expense, for stall fee (in ₹)?
10. 10.Which of these is income (money in)? (a) a card order paid (b) bus fare to the market (c) buying lemons (d) paying the stall fee
11. 11.Ishaan’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹100 (stall fee)
    What is the profit (in ₹)?
12. 12.Kabir’s stall took in ₹300 on Friday, ₹240 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
13. 13.Ananya’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹90 (ribbon)
    Expense: ₹50 (sugar)
    What is the profit (in ₹)?
14. 14.Arjun’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹120 (transport)
    Expense: ₹60 (paper cups)
    What is the profit (in ₹)?
15. 15.Nisha’s stall took in ₹100 on Friday, ₹130 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
16. 16.Vihaan’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹130 (posters)
    Expense: ₹140 (sugar)
    What is the profit (in ₹)?
17. 17.True or false: “cash from selling plants” is income (money in). (a) False (b) True
18. 18.Riya’s income was ₹220 and the profit was ₹140. One expense was ₹20 (lemons). How much was the other expense, for transport (in ₹)?
19. 19.Ishaan’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹40 (sugar)
    Expense: ₹90 (paper cups)
    What is the profit (in ₹)?
20. 20.Ishaan’s stall took in ₹300 on Friday, ₹160 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
21. 21.Aarav’s income was ₹410 and the profit was ₹100. One expense was ₹30 (sugar). How much was the other expense, for paper cups (in ₹)?
22. 22.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) paying the stall fee (d) tutoring fees received
23. 23.Arjun’s income was ₹150 and the profit was ₹40. One expense was ₹70 (paper cups). How much was the other expense, for lemons (in ₹)?
24. 24.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
25. 25.Zoya’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹240 (card paper)
    Expense: ₹60 (posters)
    How much is the loss (in ₹)?
26. 26.📒 Income or expense: bus fare to the market? (a) income (b) expense
27. 27.Kabir’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹180 (card paper)
    Expense: ₹100 (stall fee)
    How much is the loss (in ₹)?
28. 28.True or false: “printing posters” is an expense (money out). (a) False (b) True
29. 29.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) buying paper cups (d) money from sales
30. 30.Farhan’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹190 (paper cups)
    Expense: ₹200 (stall fee)
    What is the profit (in ₹)?
31. 31.Which of these is an expense (money out)? (a) bus fare to the market (b) a card order paid (c) payment for a cake order (d) tutoring fees received
32. 32.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) the same day (d) never
33. 33.Meera’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹110 (sugar)
    Expense: ₹10 (paper cups)
    How much is the loss (in ₹)?
34. 34.Nisha’s income was ₹300 and the profit was ₹220. One expense was ₹30 (lemons). How much was the other expense, for posters (in ₹)?
35. 35.Nisha’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹110 (lemons)
    Expense: ₹80 (transport)
    What is the profit (in ₹)?
36. 36.True or false: “paying the stall fee” is income (money in). (a) False (b) True
37. 37.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to fill a notebook (d) to know the real profit
38. 38.Meera’s income was ₹150 and the profit was ₹40. One expense was ₹60 (sugar). How much was the other expense, for transport (in ₹)?
39. 39.📒 Income or expense: tutoring fees received? (a) income (b) expense
40. 40.Rohan’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹200 (ribbon)
    Expense: ₹170 (card paper)
    What is the profit (in ₹)?

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