Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 382 · 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) nothing (b) a selfie (c) only the bag (d) the bill or receipt
2. 2.Kabir’s income was ₹400 and the profit was ₹90. One expense was ₹290 (ribbon). How much was the other expense, for card paper (in ₹)?
3. 3.True or false: “paying the stall fee” is income (money in). (a) True (b) False
4. 4.Saanvi’s stall took in ₹100 on Friday, ₹240 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
5. 5.📒 Income or expense: payment for a cake order? (a) income (b) expense
6. 6.📒 Income or expense: bus fare to the market? (a) expense (b) income
7. 7.📒 Income or expense: tutoring fees received? (a) expense (b) income
8. 8.True or false: “cash from selling plants” is income (money in). (a) True (b) False
9. 9.📒 Income or expense: money from sales? (a) income (b) expense
10. 10.Ananya’s stall took in ₹50 on Friday, ₹300 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
11. 11.📅 When is the best time to update your records? (a) once a year (b) never (c) whenever you like (d) the same day
12. 12.Which of these is an expense (money out)? (a) bus fare to the market (b) cash from selling plants (c) money from sales (d) tutoring fees received
13. 13.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to fill a notebook (d) to look busy
14. 14.True or false: “printing posters” is income (money in). (a) False (b) True
15. 15.Which of these is income (money in)? (a) paying the stall fee (b) cash from selling plants (c) buying lemons (d) bus fare to the market
16. 16.Arjun’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹90 (ribbon)
    Expense: ₹180 (lemons)
    How much is the loss (in ₹)?
17. 17.Zoya’s stall took in ₹130 on Friday, ₹370 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
18. 18.📒 Income or expense: a card order paid? (a) expense (b) income
19. 19.Nisha’s stall took in ₹260 on Friday, ₹380 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
20. 20.Which of these is an expense (money out)? (a) tutoring fees received (b) buying lemons (c) payment for a cake order (d) cash from selling plants
21. 21.Which of these is an expense (money out)? (a) paying the stall fee (b) money from sales (c) tutoring fees received (d) payment for a cake order
22. 22.Aarav’s stall took in ₹400 on Friday, ₹180 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
23. 23.Kabir’s stall took in ₹270 on Friday, ₹50 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
24. 24.Which of these is income (money in)? (a) a card order paid (b) buying paper cups (c) bus fare to the market (d) paying the stall fee
25. 25.Which of these is income (money in)? (a) tutoring fees received (b) buying paper cups (c) bus fare to the market (d) paying the stall fee
26. 26.Meera’s stall took in ₹90 on Friday, ₹110 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
27. 27.📒 Income or expense: buying lemons? (a) expense (b) income
28. 28.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) just the income (d) income + expenses
29. 29.Ishaan’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹100 (card paper)
    Expense: ₹160 (posters)
    What is the profit (in ₹)?
30. 30.Which of these is income (money in)? (a) money from sales (b) buying lemons (c) printing posters (d) buying paper cups
31. 31.True or false: “payment for a cake order” is income (money in). (a) False (b) True
32. 32.True or false: “money from sales” is income (money in). (a) False (b) True
33. 33.Rohan’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹170 (card paper)
    Expense: ₹40 (ribbon)
    What is the profit (in ₹)?
34. 34.Nisha’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹60 (card paper)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
35. 35.Kavya’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹50 (stall fee)
    Expense: ₹180 (transport)
    How much is the loss (in ₹)?
36. 36.Which of these is an expense (money out)? (a) cash from selling plants (b) buying paper cups (c) a card order paid (d) money from sales
37. 37.Joseph’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹80 (paper cups)
    Expense: ₹220 (transport)
    How much is the loss (in ₹)?
38. 38.Ananya’s income was ₹250 and the profit was ₹180. One expense was ₹20 (lemons). How much was the other expense, for posters (in ₹)?
39. 39.Tara’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹360 (evening sales)
    Expense: ₹200 (paper cups)
    Expense: ₹70 (stall fee)
    What is the profit (in ₹)?
40. 40.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True

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