Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 645 · 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.Kabir’s record for the day:
   Income: ₹110 (morning sales)
   Income: ₹80 (evening sales)
   Expense: ₹20 (posters)
   Expense: ₹50 (sugar)
   What is the profit (in ₹)?
2. 2.Aarav’s record for the day:
   Income: ₹90 (morning sales)
   Income: ₹140 (evening sales)
   Expense: ₹80 (lemons)
   Expense: ₹140 (sugar)
   What is the profit (in ₹)?
3. 3.Kavya’s income was ₹310 and the profit was ₹70. One expense was ₹60 (stall fee). How much was the other expense, for paper cups (in ₹)?
4. 4.Meera’s stall took in ₹230 on Friday, ₹400 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
5. 5.Gurpreet’s record for the day:
   Income: ₹80 (morning sales)
   Income: ₹100 (evening sales)
   Expense: ₹110 (stall fee)
   Expense: ₹50 (sugar)
   What is the profit (in ₹)?
6. 6.Kabir’s record for a rainy day:
   Income: ₹230 (sales)
   Expense: ₹170 (paper cups)
   Expense: ₹100 (stall fee)
   How much is the loss (in ₹)?
7. 7.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
8. 8.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) payment for a cake order (d) printing posters
9. 9.True or false: “buying lemons” is an expense (money out). (a) True (b) False
10. 10.Rohan’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹10 (sugar)
    Expense: ₹300 (paper cups)
    How much is the loss (in ₹)?
11. 11.Ishaan’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹200 (ribbon)
    Expense: ₹90 (card paper)
    How much is the loss (in ₹)?
12. 12.Meera’s income was ₹240 and the profit was ₹100. One expense was ₹90 (paper cups). How much was the other expense, for lemons (in ₹)?
13. 13.Zoya’s income was ₹190 and the profit was ₹10. One expense was ₹30 (posters). How much was the other expense, for stall fee (in ₹)?
14. 14.📒 Income or expense: printing posters? (a) income (b) expense
15. 15.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) only the bag (d) nothing
16. 16.Aarav’s income was ₹120 and the profit was ₹30. One expense was ₹30 (paper cups). How much was the other expense, for posters (in ₹)?
17. 17.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) money from sales (d) buying lemons
18. 18.📒 Income or expense: a card order paid? (a) expense (b) income
19. 19.📒 Income or expense: paying the stall fee? (a) expense (b) income
20. 20.Tara’s stall took in ₹170 on Friday, ₹290 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
21. 21.➖ Profit in your records = (a) income − expenses (b) income + expenses (c) expenses − income (d) just the income
22. 22.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) buying lemons (d) cash from selling plants
23. 23.Farhan’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹220 (sugar)
    Expense: ₹120 (ribbon)
    How much is the loss (in ₹)?
24. 24.Rohan’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹40 (transport)
    Expense: ₹150 (posters)
    What is the profit (in ₹)?
25. 25.📒 Income or expense: bus fare to the market? (a) income (b) expense
26. 26.📅 When is the best time to update your records? (a) once a year (b) the same day (c) whenever you like (d) never
27. 27.📒 Why write down every sale and cost? (a) to fill a notebook (b) no reason (c) to look busy (d) to know the real profit
28. 28.Vihaan’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹110 (lemons)
    Expense: ₹50 (ribbon)
    How much is the loss (in ₹)?
29. 29.Vihaan’s income was ₹190 and the profit was ₹80. One expense was ₹80 (transport). How much was the other expense, for ribbon (in ₹)?
30. 30.Arjun’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹50 (paper cups)
    Expense: ₹320 (stall fee)
    How much is the loss (in ₹)?
31. 31.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) paying the stall fee (d) a card order paid
32. 32.Gurpreet’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹130 (paper cups)
    Expense: ₹10 (ribbon)
    How much is the loss (in ₹)?
33. 33.Aarav’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹40 (posters)
    Expense: ₹90 (lemons)
    How much is the loss (in ₹)?
34. 34.Arjun’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹170 (transport)
    Expense: ₹180 (posters)
    How much is the loss (in ₹)?
35. 35.True or false: “payment for a cake order” is income (money in). (a) True (b) False
36. 36.📒 Income or expense: buying paper cups? (a) income (b) expense
37. 37.Arjun’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹30 (sugar)
    Expense: ₹190 (paper cups)
    What is the profit (in ₹)?
38. 38.Which of these is an expense (money out)? (a) a card order paid (b) cash from selling plants (c) money from sales (d) buying lemons
39. 39.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) a card order paid (d) printing posters
40. 40.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True

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