Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 61 · 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.Kavya’s record for a rainy day:
   Income: ₹240 (sales)
   Expense: ₹210 (paper cups)
   Expense: ₹40 (lemons)
   How much is the loss (in ₹)?
2. 2.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) to know the real profit (d) no reason
3. 3.Rohan’s stall took in ₹210 on Friday, ₹50 on Saturday and ₹400 on Sunday. What was the total income (in ₹)?
4. 4.Kavya’s record for the day:
   Income: ₹90 (morning sales)
   Income: ₹200 (evening sales)
   Expense: ₹190 (transport)
   Expense: ₹30 (stall fee)
   What is the profit (in ₹)?
5. 5.Nisha’s record for a rainy day:
   Income: ₹80 (sales)
   Expense: ₹60 (paper cups)
   Expense: ₹80 (card paper)
   How much is the loss (in ₹)?
6. 6.📒 Income or expense: tutoring fees received? (a) expense (b) income
7. 7.📒 Income or expense: payment for a cake order? (a) expense (b) income
8. 8.📒 Income or expense: printing posters? (a) income (b) expense
9. 9.Which of these is an expense (money out)? (a) printing posters (b) money from sales (c) payment for a cake order (d) a card order paid
10. 10.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) paying the stall fee (d) cash from selling plants
11. 11.📒 Income or expense: money from sales? (a) income (b) expense
12. 12.Which of these is an expense (money out)? (a) bus fare to the market (b) cash from selling plants (c) a card order paid (d) tutoring fees received
13. 13.Lakshmi’s stall took in ₹80 on Friday, ₹370 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
14. 14.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) nothing (d) a selfie
15. 15.Diya’s stall took in ₹300 on Friday, ₹80 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
16. 16.📅 When is the best time to update your records? (a) once a year (b) never (c) the same day (d) whenever you like
17. 17.Dev’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹160 (lemons)
    Expense: ₹130 (paper cups)
    What is the profit (in ₹)?
18. 18.Gurpreet’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹40 (posters)
    Expense: ₹100 (paper cups)
    How much is the loss (in ₹)?
19. 19.True or false: “a card order paid” is income (money in). (a) False (b) True
20. 20.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) printing posters (d) a card order paid
21. 21.Diya’s income was ₹140 and the profit was ₹80. One expense was ₹40 (stall fee). How much was the other expense, for ribbon (in ₹)?
22. 22.True or false: “printing posters” is an expense (money out). (a) False (b) True
23. 23.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) buying lemons (d) payment for a cake order
24. 24.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) income + expenses (d) just the income
25. 25.Nisha’s stall took in ₹70 on Friday, ₹120 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
26. 26.Farhan’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹80 (transport)
    Expense: ₹150 (paper cups)
    What is the profit (in ₹)?
27. 27.Rohan’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹110 (stall fee)
    Expense: ₹60 (transport)
    How much is the loss (in ₹)?
28. 28.Aarav’s record for the day:
    Income: ₹440 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹160 (sugar)
    Expense: ₹200 (ribbon)
    What is the profit (in ₹)?
29. 29.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) buying paper cups (d) a card order paid
30. 30.Meera’s stall took in ₹340 on Friday, ₹70 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
31. 31.Which of these is income (money in)? (a) bus fare to the market (b) money from sales (c) buying lemons (d) paying the stall fee
32. 32.Rohan’s income was ₹200 and the profit was ₹60. One expense was ₹40 (paper cups). How much was the other expense, for stall fee (in ₹)?
33. 33.Which of these is income (money in)? (a) buying paper cups (b) tutoring fees received (c) printing posters (d) buying lemons
34. 34.Riya’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹60 (posters)
    Expense: ₹90 (ribbon)
    What is the profit (in ₹)?
35. 35.📒 Income or expense: buying lemons? (a) income (b) expense
36. 36.Farhan’s record for the day:
    Income: ₹350 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹110 (card paper)
    Expense: ₹190 (ribbon)
    What is the profit (in ₹)?
37. 37.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
38. 38.Meera’s income was ₹240 and the profit was ₹190. One expense was ₹40 (stall fee). How much was the other expense, for card paper (in ₹)?
39. 39.True or false: “buying lemons” is income (money in). (a) False (b) True
40. 40.Ishaan’s record for a rainy day:
    Income: ₹180 (sales)
    Expense: ₹70 (stall fee)
    Expense: ₹160 (sugar)
    How much is the loss (in ₹)?

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