Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 334 · 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.Aarav’s record for the day:
   Income: ₹270 (morning sales)
   Income: ₹60 (evening sales)
   Expense: ₹70 (stall fee)
   Expense: ₹30 (lemons)
   What is the profit (in ₹)?
2. 2.True or false: “payment for a cake order” is income (money in). (a) True (b) False
3. 3.Rohan’s stall took in ₹360 on Friday, ₹50 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
4. 4.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) buying lemons (d) money from sales
5. 5.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
6. 6.Tara’s record for the day:
   Income: ₹180 (morning sales)
   Income: ₹370 (evening sales)
   Expense: ₹140 (sugar)
   Expense: ₹170 (ribbon)
   What is the profit (in ₹)?
7. 7.Kavya’s record for the day:
   Income: ₹140 (morning sales)
   Income: ₹390 (evening sales)
   Expense: ₹120 (ribbon)
   Expense: ₹160 (sugar)
   What is the profit (in ₹)?
8. 8.Which of these is income (money in)? (a) buying paper cups (b) cash from selling plants (c) paying the stall fee (d) bus fare to the market
9. 9.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to look busy (d) to fill a notebook
10. 10.Which of these is income (money in)? (a) buying lemons (b) payment for a cake order (c) bus fare to the market (d) printing posters
11. 11.📒 Income or expense: buying lemons? (a) expense (b) income
12. 12.Joseph’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹150 (transport)
    Expense: ₹30 (stall fee)
    What is the profit (in ₹)?
13. 13.Which of these is income (money in)? (a) buying lemons (b) tutoring fees received (c) printing posters (d) paying the stall fee
14. 14.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) cash from selling plants (d) printing posters
15. 15.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
16. 16.Joseph’s stall took in ₹110 on Friday, ₹190 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
17. 17.Joseph’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹200 (ribbon)
    Expense: ₹70 (paper cups)
    What is the profit (in ₹)?
18. 18.Zoya’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹110 (stall fee)
    Expense: ₹40 (card paper)
    How much is the loss (in ₹)?
19. 19.📒 Income or expense: cash from selling plants? (a) expense (b) income
20. 20.Lakshmi’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹50 (sugar)
    Expense: ₹60 (ribbon)
    What is the profit (in ₹)?
21. 21.Farhan’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹450 (evening sales)
    Expense: ₹130 (stall fee)
    Expense: ₹170 (transport)
    What is the profit (in ₹)?
22. 22.Ananya’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹420 (evening sales)
    Expense: ₹190 (sugar)
    Expense: ₹120 (transport)
    What is the profit (in ₹)?
23. 23.📅 When is the best time to update your records? (a) once a year (b) the same day (c) never (d) whenever you like
24. 24.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) nothing (d) a selfie
25. 25.True or false: “tutoring fees received” is income (money in). (a) False (b) True
26. 26.📒 Income or expense: payment for a cake order? (a) expense (b) income
27. 27.Kabir’s stall took in ₹340 on Friday, ₹370 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
28. 28.📒 Income or expense: tutoring fees received? (a) income (b) expense
29. 29.Kavya’s income was ₹310 and the profit was ₹40. One expense was ₹50 (paper cups). How much was the other expense, for stall fee (in ₹)?
30. 30.Vihaan’s stall took in ₹290 on Friday, ₹240 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
31. 31.Gurpreet’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹420 (evening sales)
    Expense: ₹150 (posters)
    Expense: ₹20 (paper cups)
    What is the profit (in ₹)?
32. 32.📒 Income or expense: paying the stall fee? (a) expense (b) income
33. 33.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
34. 34.📒 Income or expense: bus fare to the market? (a) income (b) expense
35. 35.➖ Profit in your records = (a) just the income (b) income − expenses (c) expenses − income (d) income + expenses
36. 36.Kavya’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹10 (ribbon)
    Expense: ₹170 (paper cups)
    How much is the loss (in ₹)?
37. 37.Rohan’s stall took in ₹360 on Friday, ₹330 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
38. 38.Ananya’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹60 (stall fee)
    Expense: ₹100 (sugar)
    How much is the loss (in ₹)?
39. 39.Kavya’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹170 (lemons)
    Expense: ₹230 (stall fee)
    How much is the loss (in ₹)?
40. 40.Zoya’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹40 (paper cups)
    Expense: ₹130 (ribbon)
    What is the profit (in ₹)?

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