Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 60 · 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.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to fill a notebook (d) to know the real profit
2. 2.True or false: “buying paper cups” is income (money in). (a) False (b) True
3. 3.Arjun’s record for a rainy day:
   Income: ₹110 (sales)
   Expense: ₹40 (paper cups)
   Expense: ₹170 (ribbon)
   How much is the loss (in ₹)?
4. 4.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) buying paper cups (d) payment for a cake order
5. 5.Kavya’s record for a rainy day:
   Income: ₹130 (sales)
   Expense: ₹80 (posters)
   Expense: ₹80 (sugar)
   How much is the loss (in ₹)?
6. 6.Riya’s record for the day:
   Income: ₹350 (morning sales)
   Income: ₹110 (evening sales)
   Expense: ₹140 (stall fee)
   Expense: ₹120 (lemons)
   What is the profit (in ₹)?
7. 7.Gurpreet’s income was ₹490 and the profit was ₹100. One expense was ₹170 (lemons). How much was the other expense, for sugar (in ₹)?
8. 8.True or false: “buying lemons” is an expense (money out). (a) False (b) True
9. 9.True or false: “money from sales” is income (money in). (a) True (b) False
10. 10.📒 Income or expense: buying paper cups? (a) expense (b) income
11. 11.Which of these is income (money in)? (a) a card order paid (b) printing posters (c) buying paper cups (d) bus fare to the market
12. 12.True or false: “a card order paid” is an expense (money out). (a) False (b) True
13. 13.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) money from sales (d) paying the stall fee
14. 14.Which of these is an expense (money out)? (a) payment for a cake order (b) tutoring fees received (c) a card order paid (d) buying lemons
15. 15.Kabir’s income was ₹350 and the profit was ₹190. One expense was ₹30 (sugar). How much was the other expense, for ribbon (in ₹)?
16. 16.Gurpreet’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹30 (sugar)
    Expense: ₹160 (stall fee)
    What is the profit (in ₹)?
17. 17.📒 Income or expense: a card order paid? (a) income (b) expense
18. 18.📒 Income or expense: printing posters? (a) income (b) expense
19. 19.Saanvi’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹470 (evening sales)
    Expense: ₹140 (paper cups)
    Expense: ₹130 (stall fee)
    What is the profit (in ₹)?
20. 20.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) money from sales (d) printing posters
21. 21.True or false: “buying lemons” is income (money in). (a) True (b) False
22. 22.Nisha’s stall took in ₹320 on Friday, ₹380 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
23. 23.Which of these is income (money in)? (a) cash from selling plants (b) buying lemons (c) paying the stall fee (d) buying paper cups
24. 24.Diya’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹140 (lemons)
    Expense: ₹30 (stall fee)
    What is the profit (in ₹)?
25. 25.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
26. 26.📒 Income or expense: tutoring fees received? (a) income (b) expense
27. 27.Riya’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹90 (posters)
    Expense: ₹100 (paper cups)
    What is the profit (in ₹)?
28. 28.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) the bill or receipt (d) nothing
29. 29.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) never (d) once a year
30. 30.Saanvi’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹20 (card paper)
    Expense: ₹60 (paper cups)
    How much is the loss (in ₹)?
31. 31.Kabir’s income was ₹300 and the profit was ₹210. One expense was ₹30 (paper cups). How much was the other expense, for posters (in ₹)?
32. 32.Saanvi’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹50 (card paper)
    Expense: ₹40 (posters)
    What is the profit (in ₹)?
33. 33.Aarav’s stall took in ₹230 on Friday, ₹390 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
34. 34.Ishaan’s income was ₹160 and the profit was ₹80. One expense was ₹50 (lemons). How much was the other expense, for transport (in ₹)?
35. 35.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) a card order paid (d) bus fare to the market
36. 36.Arjun’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹100 (transport)
    Expense: ₹140 (posters)
    What is the profit (in ₹)?
37. 37.Kavya’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹180 (sugar)
    Expense: ₹90 (paper cups)
    How much is the loss (in ₹)?
38. 38.True or false: “money from sales” is an expense (money out). (a) False (b) True
39. 39.Gurpreet’s income was ₹340 and the profit was ₹290. One expense was ₹10 (paper cups). How much was the other expense, for stall fee (in ₹)?
40. 40.Ishaan’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹20 (posters)
    Expense: ₹120 (stall fee)
    How much is the loss (in ₹)?

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