Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 586 · 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.📒 Income or expense: paying the stall fee? (a) expense (b) income
3. 3.Joseph’s income was ₹290 and the profit was ₹40. One expense was ₹70 (lemons). How much was the other expense, for card paper (in ₹)?
4. 4.Vihaan’s stall took in ₹400 on Friday, ₹380 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
5. 5.Vihaan’s record for a rainy day:
   Income: ₹220 (sales)
   Expense: ₹130 (sugar)
   Expense: ₹120 (stall fee)
   How much is the loss (in ₹)?
6. 6.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) never (d) once a year
7. 7.➖ Profit in your records = (a) just the income (b) expenses − income (c) income − expenses (d) income + expenses
8. 8.Ananya’s income was ₹490 and the profit was ₹260. One expense was ₹10 (lemons). How much was the other expense, for card paper (in ₹)?
9. 9.Riya’s record for the day:
   Income: ₹20 (morning sales)
   Income: ₹170 (evening sales)
   Expense: ₹130 (paper cups)
   Expense: ₹30 (posters)
   What is the profit (in ₹)?
10. 10.Which of these is an expense (money out)? (a) printing posters (b) tutoring fees received (c) cash from selling plants (d) payment for a cake order
11. 11.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
12. 12.True or false: “printing posters” is an expense (money out). (a) True (b) False
13. 13.📒 Income or expense: money from sales? (a) income (b) expense
14. 14.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
15. 15.Diya’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹60 (stall fee)
    Expense: ₹50 (card paper)
    What is the profit (in ₹)?
16. 16.Ananya’s stall took in ₹210 on Friday, ₹350 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
17. 17.Kavya’s stall took in ₹60 on Friday, ₹230 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
18. 18.True or false: “a card order paid” is an expense (money out). (a) True (b) False
19. 19.True or false: “money from sales” is income (money in). (a) False (b) True
20. 20.Lakshmi’s income was ₹360 and the profit was ₹50. One expense was ₹130 (lemons). How much was the other expense, for sugar (in ₹)?
21. 21.📒 Income or expense: payment for a cake order? (a) expense (b) income
22. 22.True or false: “paying the stall fee” is income (money in). (a) True (b) False
23. 23.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) no reason (d) to know the real profit
24. 24.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
25. 25.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) bus fare to the market (d) cash from selling plants
26. 26.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) nothing (d) only the bag
27. 27.Dev’s income was ₹210 and the profit was ₹70. One expense was ₹30 (transport). How much was the other expense, for card paper (in ₹)?
28. 28.Rohan’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹20 (lemons)
    Expense: ₹100 (paper cups)
    What is the profit (in ₹)?
29. 29.Joseph’s stall took in ₹70 on Friday, ₹180 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
30. 30.Which of these is income (money in)? (a) paying the stall fee (b) a card order paid (c) printing posters (d) bus fare to the market
31. 31.True or false: “printing posters” is income (money in). (a) True (b) False
32. 32.Farhan’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹130 (stall fee)
    Expense: ₹20 (posters)
    How much is the loss (in ₹)?
33. 33.Rohan’s income was ₹100 and the profit was ₹60. One expense was ₹10 (posters). How much was the other expense, for stall fee (in ₹)?
34. 34.📒 Income or expense: cash from selling plants? (a) income (b) expense
35. 35.Ishaan’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹40 (paper cups)
    Expense: ₹130 (transport)
    What is the profit (in ₹)?
36. 36.Lakshmi’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹140 (paper cups)
    Expense: ₹70 (transport)
    How much is the loss (in ₹)?
37. 37.Joseph’s stall took in ₹240 on Friday, ₹180 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
38. 38.Farhan’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹140 (sugar)
    Expense: ₹240 (lemons)
    How much is the loss (in ₹)?
39. 39.📒 Income or expense: printing posters? (a) expense (b) income
40. 40.Aarav’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹30 (ribbon)
    Expense: ₹60 (transport)
    What is the profit (in ₹)?

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