Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 266 · 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.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) the bill or receipt (d) a selfie
2. 2.📒 Income or expense: cash from selling plants? (a) income (b) expense
3. 3.📒 Income or expense: bus fare to the market? (a) income (b) expense
4. 4.True or false: “money from sales” is an expense (money out). (a) True (b) False
5. 5.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
6. 6.📒 Income or expense: printing posters? (a) income (b) expense
7. 7.True or false: “cash from selling plants” is income (money in). (a) False (b) True
8. 8.True or false: “printing posters” is income (money in). (a) True (b) False
9. 9.➖ Profit in your records = (a) income − expenses (b) income + expenses (c) just the income (d) expenses − income
10. 10.📒 Income or expense: paying the stall fee? (a) expense (b) income
11. 11.True or false: “money from sales” is income (money in). (a) True (b) False
12. 12.Saanvi’s income was ₹500 and the profit was ₹430. One expense was ₹10 (sugar). How much was the other expense, for ribbon (in ₹)?
13. 13.True or false: “tutoring fees received” is income (money in). (a) False (b) True
14. 14.True or false: “payment for a cake order” is income (money in). (a) False (b) True
15. 15.True or false: “buying lemons” is income (money in). (a) True (b) False
16. 16.Kabir’s stall took in ₹320 on Friday, ₹90 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
17. 17.📒 Income or expense: payment for a cake order? (a) expense (b) income
18. 18.True or false: “a card order paid” is an expense (money out). (a) False (b) True
19. 19.📅 When is the best time to update your records? (a) the same day (b) never (c) once a year (d) whenever you like
20. 20.Diya’s income was ₹450 and the profit was ₹30. One expense was ₹180 (lemons). How much was the other expense, for paper cups (in ₹)?
21. 21.Farhan’s stall took in ₹380 on Friday, ₹60 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
22. 22.Gurpreet’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹180 (card paper)
    Expense: ₹50 (lemons)
    What is the profit (in ₹)?
23. 23.Which of these is an expense (money out)? (a) a card order paid (b) bus fare to the market (c) cash from selling plants (d) money from sales
24. 24.Joseph’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹130 (stall fee)
    Expense: ₹60 (lemons)
    What is the profit (in ₹)?
25. 25.Kavya’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹190 (stall fee)
    Expense: ₹100 (transport)
    What is the profit (in ₹)?
26. 26.Diya’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹110 (paper cups)
    Expense: ₹60 (sugar)
    How much is the loss (in ₹)?
27. 27.Ananya’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹80 (paper cups)
    Expense: ₹20 (sugar)
    How much is the loss (in ₹)?
28. 28.📒 Income or expense: a card order paid? (a) expense (b) income
29. 29.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) buying paper cups (d) payment for a cake order
30. 30.True or false: “a card order paid” is income (money in). (a) True (b) False
31. 31.Arjun’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹150 (lemons)
    Expense: ₹90 (transport)
    What is the profit (in ₹)?
32. 32.📒 Income or expense: buying lemons? (a) expense (b) income
33. 33.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to know the real profit (d) to look busy
34. 34.Kavya’s income was ₹320 and the profit was ₹30. One expense was ₹90 (posters). How much was the other expense, for ribbon (in ₹)?
35. 35.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) printing posters (d) cash from selling plants
36. 36.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
37. 37.True or false: “buying paper cups” is income (money in). (a) True (b) False
38. 38.Joseph’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹170 (transport)
    Expense: ₹50 (ribbon)
    What is the profit (in ₹)?
39. 39.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) paying the stall fee (d) a card order paid
40. 40.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True

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