Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 604 · 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.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) the bill or receipt (d) a selfie
2. 2.True or false: “a card order paid” is income (money in). (a) True (b) False
3. 3.📒 Income or expense: buying lemons? (a) income (b) expense
4. 4.Lakshmi’s record for the day:
   Income: ₹480 (morning sales)
   Income: ₹30 (evening sales)
   Expense: ₹80 (stall fee)
   Expense: ₹150 (sugar)
   What is the profit (in ₹)?
5. 5.Diya’s record for the day:
   Income: ₹80 (morning sales)
   Income: ₹90 (evening sales)
   Expense: ₹100 (paper cups)
   Expense: ₹40 (stall fee)
   What is the profit (in ₹)?
6. 6.Which of these is an expense (money out)? (a) printing posters (b) payment for a cake order (c) money from sales (d) tutoring fees received
7. 7.📒 Income or expense: printing posters? (a) expense (b) income
8. 8.Arjun’s record for the day:
   Income: ₹70 (morning sales)
   Income: ₹280 (evening sales)
   Expense: ₹100 (ribbon)
   Expense: ₹80 (posters)
   What is the profit (in ₹)?
9. 9.Which of these is an expense (money out)? (a) buying lemons (b) tutoring fees received (c) cash from selling plants (d) a card order paid
10. 10.True or false: “bus fare to the market” is income (money in). (a) False (b) True
11. 11.📒 Income or expense: cash from selling plants? (a) expense (b) income
12. 12.True or false: “buying lemons” is income (money in). (a) True (b) False
13. 13.➖ Profit in your records = (a) just the income (b) expenses − income (c) income − expenses (d) income + expenses
14. 14.True or false: “printing posters” is an expense (money out). (a) True (b) False
15. 15.True or false: “a card order paid” is an expense (money out). (a) True (b) False
16. 16.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) to look busy (d) no reason
17. 17.Diya’s stall took in ₹100 on Friday, ₹60 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
18. 18.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) the same day (d) never
19. 19.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) bus fare to the market (d) tutoring fees received
20. 20.Ishaan’s stall took in ₹80 on Friday, ₹140 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
21. 21.Arjun’s income was ₹150 and the profit was ₹110. One expense was ₹10 (lemons). How much was the other expense, for ribbon (in ₹)?
22. 22.Which of these is income (money in)? (a) printing posters (b) money from sales (c) buying paper cups (d) bus fare to the market
23. 23.Diya’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹40 (paper cups)
    Expense: ₹20 (card paper)
    What is the profit (in ₹)?
24. 24.Vihaan’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹190 (posters)
    Expense: ₹150 (paper cups)
    What is the profit (in ₹)?
25. 25.Diya’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹210 (transport)
    Expense: ₹10 (stall fee)
    How much is the loss (in ₹)?
26. 26.Diya’s record for the day:
    Income: ₹400 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹180 (lemons)
    Expense: ₹130 (sugar)
    What is the profit (in ₹)?
27. 27.Dev’s income was ₹280 and the profit was ₹160. One expense was ₹10 (ribbon). How much was the other expense, for transport (in ₹)?
28. 28.Which of these is an expense (money out)? (a) cash from selling plants (b) paying the stall fee (c) a card order paid (d) tutoring fees received
29. 29.📒 Income or expense: bus fare to the market? (a) expense (b) income
30. 30.Dev’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹60 (sugar)
    Expense: ₹20 (lemons)
    What is the profit (in ₹)?
31. 31.Tara’s record for the day:
    Income: ₹370 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹70 (posters)
    Expense: ₹110 (sugar)
    What is the profit (in ₹)?
32. 32.Farhan’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹270 (lemons)
    Expense: ₹20 (posters)
    How much is the loss (in ₹)?
33. 33.Aarav’s stall took in ₹300 on Friday, ₹300 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
34. 34.Which of these is income (money in)? (a) bus fare to the market (b) paying the stall fee (c) tutoring fees received (d) buying paper cups
35. 35.Nisha’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹100 (transport)
    Expense: ₹50 (sugar)
    How much is the loss (in ₹)?
36. 36.True or false: “cash from selling plants” is income (money in). (a) False (b) True
37. 37.Rohan’s record for the day:
    Income: ₹420 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹190 (sugar)
    Expense: ₹60 (paper cups)
    What is the profit (in ₹)?
38. 38.Diya’s income was ₹110 and the profit was ₹30. One expense was ₹70 (posters). How much was the other expense, for transport (in ₹)?
39. 39.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
40. 40.Tara’s income was ₹330 and the profit was ₹90. One expense was ₹200 (card paper). How much was the other expense, for transport (in ₹)?

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