Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 317 · 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.Vihaan’s record for the day:
   Income: ₹60 (morning sales)
   Income: ₹540 (evening sales)
   Expense: ₹180 (transport)
   Expense: ₹140 (lemons)
   What is the profit (in ₹)?
2. 2.Which of these is income (money in)? (a) printing posters (b) cash from selling plants (c) buying lemons (d) buying paper cups
3. 3.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
4. 4.True or false: “bus fare to the market” is income (money in). (a) True (b) False
5. 5.Farhan’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹60 (stall fee)
   Expense: ₹50 (ribbon)
   How much is the loss (in ₹)?
6. 6.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) no reason (d) to know the real profit
7. 7.Rohan’s stall took in ₹340 on Friday, ₹150 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
8. 8.Ananya’s record for the day:
   Income: ₹280 (morning sales)
   Income: ₹200 (evening sales)
   Expense: ₹20 (lemons)
   Expense: ₹190 (paper cups)
   What is the profit (in ₹)?
9. 9.Nisha’s stall took in ₹400 on Friday, ₹170 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
10. 10.📅 When is the best time to update your records? (a) never (b) whenever you like (c) once a year (d) the same day
11. 11.Aarav’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹90 (posters)
    Expense: ₹90 (stall fee)
    How much is the loss (in ₹)?
12. 12.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) printing posters (d) tutoring fees received
13. 13.Ananya’s stall took in ₹120 on Friday, ₹140 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
14. 14.Kavya’s stall took in ₹340 on Friday, ₹300 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
15. 15.Arjun’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹20 (lemons)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
16. 16.📒 Income or expense: a card order paid? (a) expense (b) income
17. 17.True or false: “cash from selling plants” is income (money in). (a) False (b) True
18. 18.Aarav’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹130 (card paper)
    Expense: ₹10 (lemons)
    How much is the loss (in ₹)?
19. 19.Farhan’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹110 (transport)
    Expense: ₹20 (card paper)
    What is the profit (in ₹)?
20. 20.Kavya’s income was ₹180 and the profit was ₹30. One expense was ₹80 (card paper). How much was the other expense, for transport (in ₹)?
21. 21.Aarav’s income was ₹430 and the profit was ₹30. One expense was ₹220 (card paper). How much was the other expense, for transport (in ₹)?
22. 22.📒 Income or expense: printing posters? (a) income (b) expense
23. 23.Zoya’s income was ₹290 and the profit was ₹240. One expense was ₹30 (posters). How much was the other expense, for sugar (in ₹)?
24. 24.📒 Income or expense: cash from selling plants? (a) income (b) expense
25. 25.Diya’s income was ₹130 and the profit was ₹70. One expense was ₹50 (paper cups). How much was the other expense, for lemons (in ₹)?
26. 26.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
27. 27.Saanvi’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹40 (sugar)
    Expense: ₹120 (paper cups)
    What is the profit (in ₹)?
28. 28.Dev’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹500 (evening sales)
    Expense: ₹140 (stall fee)
    Expense: ₹110 (sugar)
    What is the profit (in ₹)?
29. 29.Farhan’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹220 (paper cups)
    Expense: ₹10 (card paper)
    How much is the loss (in ₹)?
30. 30.Kavya’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹100 (posters)
    Expense: ₹180 (paper cups)
    How much is the loss (in ₹)?
31. 31.Diya’s stall took in ₹230 on Friday, ₹250 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
32. 32.Diya’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹10 (ribbon)
    Expense: ₹120 (posters)
    How much is the loss (in ₹)?
33. 33.Aarav’s stall took in ₹220 on Friday, ₹330 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
34. 34.Kabir’s stall took in ₹360 on Friday, ₹250 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
35. 35.📒 Income or expense: tutoring fees received? (a) expense (b) income
36. 36.Diya’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹40 (paper cups)
    Expense: ₹130 (lemons)
    How much is the loss (in ₹)?
37. 37.True or false: “tutoring fees received” is income (money in). (a) False (b) True
38. 38.➖ Profit in your records = (a) income − expenses (b) just the income (c) income + expenses (d) expenses − income
39. 39.Which of these is an expense (money out)? (a) buying lemons (b) cash from selling plants (c) money from sales (d) tutoring fees received
40. 40.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) the bill or receipt (d) nothing

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