Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 63 · 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) a selfie (c) the bill or receipt (d) only the bag
2. 2.📅 When is the best time to update your records? (a) never (b) whenever you like (c) the same day (d) once a year
3. 3.Riya’s record for the day:
   Income: ₹290 (morning sales)
   Income: ₹150 (evening sales)
   Expense: ₹200 (lemons)
   Expense: ₹30 (transport)
   What is the profit (in ₹)?
4. 4.📒 Income or expense: buying lemons? (a) expense (b) income
5. 5.📒 Income or expense: printing posters? (a) income (b) expense
6. 6.Aarav’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹90 (card paper)
   Expense: ₹50 (paper cups)
   How much is the loss (in ₹)?
7. 7.Which of these is income (money in)? (a) a card order paid (b) buying paper cups (c) bus fare to the market (d) printing posters
8. 8.True or false: “bus fare to the market” is income (money in). (a) True (b) False
9. 9.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) paying the stall fee (d) money from sales
10. 10.True or false: “a card order paid” is income (money in). (a) True (b) False
11. 11.Diya’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹80 (lemons)
    Expense: ₹190 (sugar)
    How much is the loss (in ₹)?
12. 12.Nisha’s stall took in ₹60 on Friday, ₹200 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
13. 13.Lakshmi’s income was ₹250 and the profit was ₹230. One expense was ₹10 (stall fee). How much was the other expense, for transport (in ₹)?
14. 14.Arjun’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹190 (posters)
    Expense: ₹160 (lemons)
    How much is the loss (in ₹)?
15. 15.📒 Income or expense: bus fare to the market? (a) expense (b) income
16. 16.Kavya’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹140 (transport)
    Expense: ₹160 (lemons)
    How much is the loss (in ₹)?
17. 17.Lakshmi’s stall took in ₹320 on Friday, ₹230 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
18. 18.Which of these is an expense (money out)? (a) buying lemons (b) a card order paid (c) money from sales (d) tutoring fees received
19. 19.Ishaan’s income was ₹410 and the profit was ₹380. One expense was ₹10 (paper cups). How much was the other expense, for ribbon (in ₹)?
20. 20.Which of these is an expense (money out)? (a) money from sales (b) paying the stall fee (c) tutoring fees received (d) a card order paid
21. 21.Tara’s income was ₹150 and the profit was ₹120. One expense was ₹10 (ribbon). How much was the other expense, for transport (in ₹)?
22. 22.Lakshmi’s income was ₹130 and the profit was ₹70. One expense was ₹30 (paper cups). How much was the other expense, for card paper (in ₹)?
23. 23.Ishaan’s income was ₹250 and the profit was ₹40. One expense was ₹110 (stall fee). How much was the other expense, for posters (in ₹)?
24. 24.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) income + expenses (d) just the income
25. 25.Aarav’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹180 (sugar)
    Expense: ₹40 (card paper)
    What is the profit (in ₹)?
26. 26.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
27. 27.Which of these is income (money in)? (a) tutoring fees received (b) buying lemons (c) paying the stall fee (d) buying paper cups
28. 28.Joseph’s stall took in ₹200 on Friday, ₹140 on Saturday and ₹370 on Sunday. What was the total income (in ₹)?
29. 29.📒 Income or expense: a card order paid? (a) expense (b) income
30. 30.📒 Income or expense: payment for a cake order? (a) income (b) expense
31. 31.Ishaan’s stall took in ₹180 on Friday, ₹310 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
32. 32.Rohan’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹30 (transport)
    Expense: ₹130 (sugar)
    What is the profit (in ₹)?
33. 33.Tara’s income was ₹350 and the profit was ₹200. One expense was ₹70 (lemons). How much was the other expense, for stall fee (in ₹)?
34. 34.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
35. 35.Gurpreet’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹140 (transport)
    Expense: ₹210 (posters)
    How much is the loss (in ₹)?
36. 36.True or false: “printing posters” is an expense (money out). (a) True (b) False
37. 37.Lakshmi’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹50 (ribbon)
    Expense: ₹230 (transport)
    How much is the loss (in ₹)?
38. 38.Saanvi’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹140 (paper cups)
    Expense: ₹90 (card paper)
    What is the profit (in ₹)?
39. 39.Nisha’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹30 (paper cups)
    Expense: ₹80 (stall fee)
    How much is the loss (in ₹)?
40. 40.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False

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