Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 637 · 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.Saanvi’s record for a rainy day:
   Income: ₹210 (sales)
   Expense: ₹250 (lemons)
   Expense: ₹20 (paper cups)
   How much is the loss (in ₹)?
2. 2.📒 Income or expense: cash from selling plants? (a) income (b) expense
3. 3.📒 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
4. 4.True or false: “tutoring fees received” is income (money in). (a) False (b) True
5. 5.Meera’s income was ₹380 and the profit was ₹240. One expense was ₹110 (card paper). How much was the other expense, for sugar (in ₹)?
6. 6.Meera’s record for a rainy day:
   Income: ₹280 (sales)
   Expense: ₹40 (stall fee)
   Expense: ₹280 (transport)
   How much is the loss (in ₹)?
7. 7.Rohan’s record for a rainy day:
   Income: ₹270 (sales)
   Expense: ₹50 (paper cups)
   Expense: ₹250 (sugar)
   How much is the loss (in ₹)?
8. 8.Rohan’s income was ₹300 and the profit was ₹100. One expense was ₹50 (paper cups). How much was the other expense, for stall fee (in ₹)?
9. 9.Ishaan’s income was ₹390 and the profit was ₹40. One expense was ₹70 (paper cups). How much was the other expense, for lemons (in ₹)?
10. 10.Which of these is income (money in)? (a) bus fare to the market (b) buying lemons (c) paying the stall fee (d) a card order paid
11. 11.True or false: “payment for a cake order” is income (money in). (a) False (b) True
12. 12.Ishaan’s stall took in ₹90 on Friday, ₹110 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
13. 13.Ananya’s stall took in ₹290 on Friday, ₹150 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
14. 14.Kabir’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹60 (card paper)
    What is the profit (in ₹)?
15. 15.📒 Income or expense: payment for a cake order? (a) income (b) expense
16. 16.Nisha’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹80 (posters)
    Expense: ₹110 (sugar)
    What is the profit (in ₹)?
17. 17.Vihaan’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹150 (card paper)
    Expense: ₹100 (transport)
    What is the profit (in ₹)?
18. 18.True or false: “printing posters” is an expense (money out). (a) True (b) False
19. 19.➖ Profit in your records = (a) income − expenses (b) just the income (c) income + expenses (d) expenses − income
20. 20.True or false: “a card order paid” is an expense (money out). (a) False (b) True
21. 21.Ananya’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹150 (posters)
    Expense: ₹180 (sugar)
    What is the profit (in ₹)?
22. 22.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
23. 23.Rohan’s stall took in ₹70 on Friday, ₹330 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
24. 24.Vihaan’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹130 (transport)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
25. 25.Saanvi’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹30 (paper cups)
    Expense: ₹200 (card paper)
    What is the profit (in ₹)?
26. 26.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) never (d) the same day
27. 27.Vihaan’s stall took in ₹140 on Friday, ₹190 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
28. 28.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) a selfie (d) the bill or receipt
29. 29.Which of these is income (money in)? (a) bus fare to the market (b) money from sales (c) printing posters (d) buying paper cups
30. 30.Which of these is an expense (money out)? (a) money from sales (b) bus fare to the market (c) tutoring fees received (d) cash from selling plants
31. 31.📒 Income or expense: printing posters? (a) expense (b) income
32. 32.Meera’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹20 (lemons)
    Expense: ₹140 (stall fee)
    What is the profit (in ₹)?
33. 33.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) paying the stall fee (d) money from sales
34. 34.Nisha’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹110 (sugar)
    Expense: ₹170 (lemons)
    What is the profit (in ₹)?
35. 35.📒 Income or expense: a card order paid? (a) income (b) expense
36. 36.Ananya’s stall took in ₹200 on Friday, ₹350 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
37. 37.Meera’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹200 (transport)
    Expense: ₹20 (card paper)
    What is the profit (in ₹)?
38. 38.Gurpreet’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹110 (paper cups)
    Expense: ₹140 (posters)
    What is the profit (in ₹)?
39. 39.📒 Income or expense: buying paper cups? (a) income (b) expense
40. 40.📒 Income or expense: buying lemons? (a) expense (b) income

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