Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 405 · 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.Zoya’s record for a rainy day:
   Income: ₹50 (sales)
   Expense: ₹10 (sugar)
   Expense: ₹90 (posters)
   How much is the loss (in ₹)?
2. 2.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) a selfie (d) nothing
3. 3.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
4. 4.Kabir’s income was ₹450 and the profit was ₹40. One expense was ₹40 (lemons). How much was the other expense, for sugar (in ₹)?
5. 5.True or false: “payment for a cake order” is income (money in). (a) False (b) True
6. 6.Saanvi’s record for a rainy day:
   Income: ₹300 (sales)
   Expense: ₹110 (stall fee)
   Expense: ₹210 (paper cups)
   How much is the loss (in ₹)?
7. 7.📒 Income or expense: buying paper cups? (a) income (b) expense
8. 8.Lakshmi’s record for a rainy day:
   Income: ₹190 (sales)
   Expense: ₹60 (transport)
   Expense: ₹140 (ribbon)
   How much is the loss (in ₹)?
9. 9.Kavya’s record for the day:
   Income: ₹50 (morning sales)
   Income: ₹110 (evening sales)
   Expense: ₹100 (transport)
   Expense: ₹40 (lemons)
   What is the profit (in ₹)?
10. 10.True or false: “buying lemons” is income (money in). (a) True (b) False
11. 11.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to know the real profit (d) to look busy
12. 12.Which of these is an expense (money out)? (a) paying the stall fee (b) cash from selling plants (c) payment for a cake order (d) tutoring fees received
13. 13.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) money from sales (d) buying lemons
14. 14.📒 Income or expense: tutoring fees received? (a) income (b) expense
15. 15.📒 Income or expense: buying lemons? (a) expense (b) income
16. 16.📒 Income or expense: cash from selling plants? (a) income (b) expense
17. 17.Kabir’s record for the day:
    Income: ₹310 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹140 (sugar)
    Expense: ₹170 (ribbon)
    What is the profit (in ₹)?
18. 18.True or false: “buying lemons” is an expense (money out). (a) False (b) True
19. 19.Ananya’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹160 (lemons)
    Expense: ₹190 (sugar)
    How much is the loss (in ₹)?
20. 20.Riya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹50 (transport)
    Expense: ₹100 (ribbon)
    What is the profit (in ₹)?
21. 21.📒 Income or expense: paying the stall fee? (a) expense (b) income
22. 22.Riya’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹200 (paper cups)
    Expense: ₹80 (card paper)
    How much is the loss (in ₹)?
23. 23.Arjun’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹30 (posters)
    Expense: ₹150 (lemons)
    What is the profit (in ₹)?
24. 24.Meera’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹130 (paper cups)
    Expense: ₹20 (posters)
    How much is the loss (in ₹)?
25. 25.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
26. 26.Kabir’s stall took in ₹340 on Friday, ₹100 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
27. 27.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) buying lemons (d) payment for a cake order
28. 28.True or false: “printing posters” is income (money in). (a) False (b) True
29. 29.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
30. 30.True or false: “a card order paid” is an expense (money out). (a) True (b) False
31. 31.Farhan’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹70 (lemons)
    Expense: ₹20 (ribbon)
    How much is the loss (in ₹)?
32. 32.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
33. 33.Kavya’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹30 (ribbon)
    Expense: ₹80 (lemons)
    What is the profit (in ₹)?
34. 34.True or false: “bus fare to the market” is income (money in). (a) False (b) True
35. 35.Ishaan’s stall took in ₹260 on Friday, ₹340 on Saturday and ₹160 on Sunday. What was the total income (in ₹)?
36. 36.Vihaan’s stall took in ₹320 on Friday, ₹100 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
37. 37.Farhan’s income was ₹220 and the profit was ₹60. One expense was ₹50 (posters). How much was the other expense, for lemons (in ₹)?
38. 38.Nisha’s stall took in ₹70 on Friday, ₹200 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
39. 39.Joseph’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹190 (transport)
    Expense: ₹110 (posters)
    What is the profit (in ₹)?
40. 40.Meera’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹40 (sugar)
    Expense: ₹150 (paper cups)
    How much is the loss (in ₹)?

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