Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 380 · 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.📒 Income or expense: paying the stall fee? (a) income (b) expense
2. 2.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) never (d) once a year
3. 3.Ananya’s record for the day:
   Income: ₹50 (morning sales)
   Income: ₹180 (evening sales)
   Expense: ₹20 (stall fee)
   Expense: ₹110 (transport)
   What is the profit (in ₹)?
4. 4.Rohan’s stall took in ₹280 on Friday, ₹150 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
5. 5.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) the bill or receipt (d) only the bag
6. 6.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) cash from selling plants (d) bus fare to the market
7. 7.📒 Income or expense: bus fare to the market? (a) expense (b) income
8. 8.Ananya’s income was ₹470 and the profit was ₹350. One expense was ₹90 (ribbon). How much was the other expense, for paper cups (in ₹)?
9. 9.📒 Income or expense: cash from selling plants? (a) expense (b) income
10. 10.Kabir’s income was ₹300 and the profit was ₹50. One expense was ₹100 (ribbon). How much was the other expense, for lemons (in ₹)?
11. 11.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) payment for a cake order (d) bus fare to the market
12. 12.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) buying lemons (d) tutoring fees received
13. 13.📒 Income or expense: money from sales? (a) expense (b) income
14. 14.True or false: “payment for a cake order” is income (money in). (a) True (b) False
15. 15.Which of these is income (money in)? (a) buying paper cups (b) tutoring fees received (c) bus fare to the market (d) buying lemons
16. 16.➖ Profit in your records = (a) income + expenses (b) just the income (c) expenses − income (d) income − expenses
17. 17.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) paying the stall fee (d) payment for a cake order
18. 18.📒 Income or expense: tutoring fees received? (a) income (b) expense
19. 19.True or false: “a card order paid” is an expense (money out). (a) False (b) True
20. 20.Vihaan’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹70 (stall fee)
    Expense: ₹250 (sugar)
    How much is the loss (in ₹)?
21. 21.True or false: “cash from selling plants” is income (money in). (a) False (b) True
22. 22.Which of these is income (money in)? (a) buying paper cups (b) a card order paid (c) paying the stall fee (d) printing posters
23. 23.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) printing posters (d) tutoring fees received
24. 24.Ishaan’s income was ₹280 and the profit was ₹80. One expense was ₹150 (paper cups). How much was the other expense, for posters (in ₹)?
25. 25.📒 Income or expense: buying lemons? (a) expense (b) income
26. 26.Ishaan’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹20 (stall fee)
    Expense: ₹100 (ribbon)
    What is the profit (in ₹)?
27. 27.Ishaan’s income was ₹290 and the profit was ₹90. One expense was ₹100 (posters). How much was the other expense, for card paper (in ₹)?
28. 28.Aarav’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹180 (card paper)
    Expense: ₹30 (transport)
    What is the profit (in ₹)?
29. 29.Dev’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹200 (stall fee)
    What is the profit (in ₹)?
30. 30.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) a card order paid (d) paying the stall fee
31. 31.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
32. 32.True or false: “money from sales” is income (money in). (a) False (b) True
33. 33.Kabir’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹90 (paper cups)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
34. 34.Dev’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹10 (card paper)
    Expense: ₹120 (stall fee)
    How much is the loss (in ₹)?
35. 35.📒 Income or expense: printing posters? (a) expense (b) income
36. 36.Farhan’s stall took in ₹270 on Friday, ₹170 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
37. 37.True or false: “a card order paid” is income (money in). (a) False (b) True
38. 38.Diya’s income was ₹360 and the profit was ₹70. One expense was ₹50 (sugar). How much was the other expense, for ribbon (in ₹)?
39. 39.Kavya’s stall took in ₹160 on Friday, ₹370 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
40. 40.True or false: “buying paper cups” is income (money in). (a) True (b) False

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