Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 249 · 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: money from sales? (a) income (b) expense
2. 2.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) a card order paid (d) buying lemons
3. 3.True or false: “paying the stall fee” is income (money in). (a) False (b) True
4. 4.Diya’s income was ₹210 and the profit was ₹80. One expense was ₹110 (transport). How much was the other expense, for ribbon (in ₹)?
5. 5.➖ Profit in your records = (a) income − expenses (b) just the income (c) expenses − income (d) income + expenses
6. 6.True or false: “money from sales” is an expense (money out). (a) True (b) False
7. 7.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) a selfie (d) nothing
8. 8.True or false: “tutoring fees received” is income (money in). (a) True (b) False
9. 9.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to look busy (d) to fill a notebook
10. 10.Joseph’s record for the day:
    Income: ₹400 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹80 (stall fee)
    Expense: ₹170 (paper cups)
    What is the profit (in ₹)?
11. 11.Which of these is an expense (money out)? (a) money from sales (b) bus fare to the market (c) tutoring fees received (d) payment for a cake order
12. 12.Aarav’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹20 (stall fee)
    Expense: ₹50 (transport)
    How much is the loss (in ₹)?
13. 13.True or false: “buying lemons” is income (money in). (a) True (b) False
14. 14.Meera’s income was ₹130 and the profit was ₹60. One expense was ₹10 (ribbon). How much was the other expense, for stall fee (in ₹)?
15. 15.Kavya’s stall took in ₹290 on Friday, ₹240 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
16. 16.Meera’s stall took in ₹50 on Friday, ₹290 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
17. 17.Rohan’s income was ₹340 and the profit was ₹10. One expense was ₹320 (ribbon). How much was the other expense, for card paper (in ₹)?
18. 18.Kavya’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹110 (card paper)
    Expense: ₹30 (sugar)
    How much is the loss (in ₹)?
19. 19.Ananya’s stall took in ₹70 on Friday, ₹280 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
20. 20.Lakshmi’s stall took in ₹120 on Friday, ₹390 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
21. 21.📒 Income or expense: bus fare to the market? (a) expense (b) income
22. 22.True or false: “printing posters” is an expense (money out). (a) False (b) True
23. 23.Ishaan’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹10 (paper cups)
    Expense: ₹150 (posters)
    How much is the loss (in ₹)?
24. 24.📒 Income or expense: printing posters? (a) expense (b) income
25. 25.Ananya’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹140 (transport)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
26. 26.Riya’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹20 (sugar)
    Expense: ₹160 (stall fee)
    What is the profit (in ₹)?
27. 27.Lakshmi’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹280 (posters)
    Expense: ₹40 (transport)
    How much is the loss (in ₹)?
28. 28.Which of these is income (money in)? (a) bus fare to the market (b) cash from selling plants (c) buying lemons (d) printing posters
29. 29.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) tutoring fees received (d) bus fare to the market
30. 30.Gurpreet’s income was ₹450 and the profit was ₹110. One expense was ₹160 (stall fee). How much was the other expense, for sugar (in ₹)?
31. 31.📒 Income or expense: cash from selling plants? (a) income (b) expense
32. 32.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
33. 33.Aarav’s stall took in ₹240 on Friday, ₹140 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
34. 34.Nisha’s stall took in ₹150 on Friday, ₹400 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
35. 35.True or false: “a card order paid” is income (money in). (a) False (b) True
36. 36.True or false: “cash from selling plants” is income (money in). (a) True (b) False
37. 37.Ananya’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹110 (posters)
    Expense: ₹40 (sugar)
    How much is the loss (in ₹)?
38. 38.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) bus fare to the market (d) money from sales
39. 39.📅 When is the best time to update your records? (a) the same day (b) never (c) once a year (d) whenever you like
40. 40.Vihaan’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹110 (lemons)
    Expense: ₹60 (posters)
    How much is the loss (in ₹)?

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