Entrepreneurship Worksheet: Income and Expenses Record

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

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