Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 568 · 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: buying paper cups? (a) expense (b) income
2. 2.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) money from sales (d) bus fare to the market
3. 3.📒 Income or expense: printing posters? (a) income (b) expense
4. 4.📅 When is the best time to update your records? (a) never (b) once a year (c) the same day (d) whenever you like
5. 5.Vihaan’s income was ₹120 and the profit was ₹80. One expense was ₹10 (stall fee). How much was the other expense, for posters (in ₹)?
6. 6.Zoya’s income was ₹480 and the profit was ₹410. One expense was ₹20 (sugar). How much was the other expense, for stall fee (in ₹)?
7. 7.Farhan’s stall took in ₹340 on Friday, ₹190 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
8. 8.True or false: “a card order paid” is income (money in). (a) True (b) False
9. 9.Lakshmi’s record for the day:
   Income: ₹190 (morning sales)
   Income: ₹210 (evening sales)
   Expense: ₹200 (sugar)
   Expense: ₹70 (transport)
   What is the profit (in ₹)?
10. 10.Saanvi’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹200 (lemons)
    Expense: ₹170 (paper cups)
    What is the profit (in ₹)?
11. 11.True or false: “printing posters” is income (money in). (a) False (b) True
12. 12.Meera’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹20 (ribbon)
    Expense: ₹60 (transport)
    How much is the loss (in ₹)?
13. 13.True or false: “a card order paid” is an expense (money out). (a) True (b) False
14. 14.True or false: “payment for a cake order” is income (money in). (a) True (b) False
15. 15.True or false: “money from sales” is an expense (money out). (a) False (b) True
16. 16.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) no reason (d) to look busy
17. 17.Dev’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹110 (transport)
    Expense: ₹80 (card paper)
    How much is the loss (in ₹)?
18. 18.Riya’s record for the day:
    Income: ₹440 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹50 (transport)
    Expense: ₹140 (paper cups)
    What is the profit (in ₹)?
19. 19.Rohan’s income was ₹180 and the profit was ₹110. One expense was ₹10 (stall fee). How much was the other expense, for posters (in ₹)?
20. 20.Which of these is income (money in)? (a) tutoring fees received (b) printing posters (c) paying the stall fee (d) buying paper cups
21. 21.📒 Income or expense: cash from selling plants? (a) expense (b) income
22. 22.Which of these is an expense (money out)? (a) a card order paid (b) buying lemons (c) tutoring fees received (d) money from sales
23. 23.📒 Income or expense: bus fare to the market? (a) income (b) expense
24. 24.Vihaan’s income was ₹100 and the profit was ₹20. One expense was ₹70 (stall fee). How much was the other expense, for ribbon (in ₹)?
25. 25.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) paying the stall fee (d) cash from selling plants
26. 26.Riya’s income was ₹310 and the profit was ₹50. One expense was ₹70 (paper cups). How much was the other expense, for ribbon (in ₹)?
27. 27.True or false: “buying lemons” is income (money in). (a) False (b) True
28. 28.True or false: “tutoring fees received” is income (money in). (a) False (b) True
29. 29.📒 Income or expense: money from sales? (a) income (b) expense
30. 30.📒 Income or expense: tutoring fees received? (a) income (b) expense
31. 31.Kavya’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹160 (lemons)
    Expense: ₹30 (posters)
    How much is the loss (in ₹)?
32. 32.True or false: “cash from selling plants” is income (money in). (a) True (b) False
33. 33.Which of these is income (money in)? (a) money from sales (b) buying lemons (c) paying the stall fee (d) buying paper cups
34. 34.Joseph’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹80 (posters)
    Expense: ₹60 (card paper)
    How much is the loss (in ₹)?
35. 35.Kabir’s income was ₹250 and the profit was ₹180. One expense was ₹10 (posters). How much was the other expense, for card paper (in ₹)?
36. 36.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) nothing (d) only the bag
37. 37.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
38. 38.Vihaan’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹110 (ribbon)
    Expense: ₹160 (posters)
    How much is the loss (in ₹)?
39. 39.Which of these is an expense (money out)? (a) tutoring fees received (b) printing posters (c) a card order paid (d) money from sales
40. 40.Which of these is income (money in)? (a) a card order paid (b) buying lemons (c) bus fare to the market (d) buying paper cups

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