Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 305 · 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 an expense (money out). (a) True (b) False
2. 2.Rohan’s record for the day:
   Income: ₹60 (morning sales)
   Income: ₹220 (evening sales)
   Expense: ₹20 (lemons)
   Expense: ₹40 (paper cups)
   What is the profit (in ₹)?
3. 3.True or false: “payment for a cake order” is income (money in). (a) False (b) True
4. 4.Which of these is an expense (money out)? (a) tutoring fees received (b) buying lemons (c) a card order paid (d) payment for a cake order
5. 5.🧾 What should you keep after buying supplies? (a) nothing (b) the bill or receipt (c) a selfie (d) only the bag
6. 6.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) no reason (d) to fill a notebook
7. 7.Ananya’s record for a rainy day:
   Income: ₹190 (sales)
   Expense: ₹20 (paper cups)
   Expense: ₹220 (lemons)
   How much is the loss (in ₹)?
8. 8.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) printing posters (d) a card order paid
9. 9.Meera’s income was ₹150 and the profit was ₹130. One expense was ₹10 (card paper). How much was the other expense, for ribbon (in ₹)?
10. 10.📅 When is the best time to update your records? (a) never (b) the same day (c) once a year (d) whenever you like
11. 11.True or false: “cash from selling plants” is income (money in). (a) False (b) True
12. 12.Diya’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹40 (lemons)
    Expense: ₹130 (sugar)
    How much is the loss (in ₹)?
13. 13.Lakshmi’s stall took in ₹110 on Friday, ₹210 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
14. 14.Ishaan’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹100 (posters)
    Expense: ₹80 (ribbon)
    How much is the loss (in ₹)?
15. 15.True or false: “a card order paid” is income (money in). (a) False (b) True
16. 16.Which of these is an expense (money out)? (a) payment for a cake order (b) a card order paid (c) tutoring fees received (d) printing posters
17. 17.➖ Profit in your records = (a) income + expenses (b) just the income (c) expenses − income (d) income − expenses
18. 18.📒 Income or expense: buying lemons? (a) expense (b) income
19. 19.Saanvi’s income was ₹170 and the profit was ₹20. One expense was ₹130 (sugar). How much was the other expense, for transport (in ₹)?
20. 20.Nisha’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹50 (ribbon)
    Expense: ₹120 (paper cups)
    How much is the loss (in ₹)?
21. 21.Meera’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹220 (posters)
    Expense: ₹60 (stall fee)
    How much is the loss (in ₹)?
22. 22.True or false: “paying the stall fee” is income (money in). (a) True (b) False
23. 23.📒 Income or expense: money from sales? (a) income (b) expense
24. 24.Kavya’s stall took in ₹140 on Friday, ₹250 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
25. 25.📒 Income or expense: a card order paid? (a) income (b) expense
26. 26.Meera’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹140 (posters)
    Expense: ₹180 (stall fee)
    What is the profit (in ₹)?
27. 27.Which of these is income (money in)? (a) paying the stall fee (b) bus fare to the market (c) buying lemons (d) cash from selling plants
28. 28.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
29. 29.Vihaan’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹110 (lemons)
    Expense: ₹40 (card paper)
    What is the profit (in ₹)?
30. 30.True or false: “tutoring fees received” is income (money in). (a) False (b) True
31. 31.Kabir’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹120 (paper cups)
    Expense: ₹60 (lemons)
    How much is the loss (in ₹)?
32. 32.Gurpreet’s income was ₹270 and the profit was ₹70. One expense was ₹90 (stall fee). How much was the other expense, for posters (in ₹)?
33. 33.Diya’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹30 (posters)
    Expense: ₹20 (stall fee)
    What is the profit (in ₹)?
34. 34.True or false: “printing posters” is income (money in). (a) True (b) False
35. 35.Zoya’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹180 (stall fee)
    Expense: ₹30 (sugar)
    How much is the loss (in ₹)?
36. 36.Nisha’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹80 (ribbon)
    Expense: ₹40 (sugar)
    How much is the loss (in ₹)?
37. 37.Riya’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹20 (paper cups)
    Expense: ₹350 (lemons)
    How much is the loss (in ₹)?
38. 38.True or false: “a card order paid” is an expense (money out). (a) False (b) True
39. 39.Kavya’s stall took in ₹220 on Friday, ₹390 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
40. 40.Diya’s stall took in ₹140 on Friday, ₹180 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?

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