Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 26 · 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.Diya’s record for the day:
   Income: ₹440 (morning sales)
   Income: ₹20 (evening sales)
   Expense: ₹100 (lemons)
   Expense: ₹90 (sugar)
   What is the profit (in ₹)?
2. 2.True or false: “cash from selling plants” is income (money in). (a) False (b) True
3. 3.True or false: “money from sales” is income (money in). (a) False (b) True
4. 4.📒 Income or expense: bus fare to the market? (a) expense (b) income
5. 5.Lakshmi’s record for the day:
   Income: ₹30 (morning sales)
   Income: ₹50 (evening sales)
   Expense: ₹20 (card paper)
   Expense: ₹40 (ribbon)
   What is the profit (in ₹)?
6. 6.Rohan’s record for a rainy day:
   Income: ₹260 (sales)
   Expense: ₹50 (card paper)
   Expense: ₹230 (transport)
   How much is the loss (in ₹)?
7. 7.Which of these is income (money in)? (a) money from sales (b) paying the stall fee (c) buying lemons (d) buying paper cups
8. 8.Vihaan’s stall took in ₹100 on Friday, ₹340 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
9. 9.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) no reason (d) to look busy
10. 10.Gurpreet’s stall took in ₹190 on Friday, ₹260 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
11. 11.Farhan’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹10 (transport)
    Expense: ₹320 (paper cups)
    How much is the loss (in ₹)?
12. 12.Which of these is an expense (money out)? (a) buying lemons (b) tutoring fees received (c) cash from selling plants (d) money from sales
13. 13.Arjun’s income was ₹110 and the profit was ₹50. One expense was ₹20 (paper cups). How much was the other expense, for sugar (in ₹)?
14. 14.Aarav’s stall took in ₹80 on Friday, ₹80 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
15. 15.Joseph’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹70 (lemons)
    Expense: ₹130 (sugar)
    How much is the loss (in ₹)?
16. 16.📅 When is the best time to update your records? (a) once a year (b) the same day (c) never (d) whenever you like
17. 17.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) buying paper cups (d) tutoring fees received
18. 18.📒 Income or expense: buying paper cups? (a) expense (b) income
19. 19.Gurpreet’s stall took in ₹400 on Friday, ₹130 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
20. 20.📒 Income or expense: a card order paid? (a) income (b) expense
21. 21.Joseph’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹90 (sugar)
    Expense: ₹60 (transport)
    How much is the loss (in ₹)?
22. 22.Gurpreet’s income was ₹180 and the profit was ₹150. One expense was ₹20 (sugar). How much was the other expense, for paper cups (in ₹)?
23. 23.Meera’s stall took in ₹270 on Friday, ₹210 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
24. 24.True or false: “tutoring fees received” is income (money in). (a) False (b) True
25. 25.Rohan’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹80 (paper cups)
    Expense: ₹40 (lemons)
    What is the profit (in ₹)?
26. 26.True or false: “buying lemons” is income (money in). (a) False (b) True
27. 27.📒 Income or expense: payment for a cake order? (a) expense (b) income
28. 28.Which of these is an expense (money out)? (a) bus fare to the market (b) tutoring fees received (c) money from sales (d) cash from selling plants
29. 29.Vihaan’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹120 (paper cups)
    Expense: ₹60 (lemons)
    How much is the loss (in ₹)?
30. 30.Ishaan’s stall took in ₹340 on Friday, ₹340 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
31. 31.➖ Profit in your records = (a) income − expenses (b) just the income (c) income + expenses (d) expenses − income
32. 32.Dev’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹40 (lemons)
    Expense: ₹20 (transport)
    What is the profit (in ₹)?
33. 33.Ananya’s stall took in ₹140 on Friday, ₹390 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
34. 34.True or false: “printing posters” is income (money in). (a) True (b) False
35. 35.Diya’s income was ₹390 and the profit was ₹180. One expense was ₹60 (card paper). How much was the other expense, for sugar (in ₹)?
36. 36.📒 Income or expense: cash from selling plants? (a) income (b) expense
37. 37.True or false: “bus fare to the market” is income (money in). (a) True (b) False
38. 38.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) a selfie (d) nothing
39. 39.Ishaan’s stall took in ₹60 on Friday, ₹340 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
40. 40.Dev’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹60 (sugar)
    Expense: ₹40 (transport)
    How much is the loss (in ₹)?

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