Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 654 · 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.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to look busy (d) to fill a notebook
2. 2.📒 Income or expense: printing posters? (a) income (b) expense
3. 3.Riya’s income was ₹410 and the profit was ₹10. One expense was ₹300 (stall fee). How much was the other expense, for ribbon (in ₹)?
4. 4.Kabir’s stall took in ₹140 on Friday, ₹80 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
5. 5.True or false: “bus fare to the market” is income (money in). (a) False (b) True
6. 6.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) buying paper cups (d) money from sales
7. 7.Diya’s record for a rainy day:
   Income: ₹250 (sales)
   Expense: ₹30 (stall fee)
   Expense: ₹320 (card paper)
   How much is the loss (in ₹)?
8. 8.📅 When is the best time to update your records? (a) once a year (b) whenever you like (c) the same day (d) never
9. 9.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) just the income (d) income + expenses
10. 10.True or false: “a card order paid” is income (money in). (a) False (b) True
11. 11.📒 Income or expense: money from sales? (a) expense (b) income
12. 12.Ishaan’s record for the day:
    Income: ₹390 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹190 (ribbon)
    Expense: ₹40 (posters)
    What is the profit (in ₹)?
13. 13.Tara’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹250 (posters)
    How much is the loss (in ₹)?
14. 14.📒 Income or expense: a card order paid? (a) income (b) expense
15. 15.Gurpreet’s stall took in ₹230 on Friday, ₹110 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
16. 16.📒 Income or expense: buying lemons? (a) expense (b) income
17. 17.Vihaan’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹20 (evening sales)
    Expense: ₹20 (sugar)
    Expense: ₹170 (transport)
    What is the profit (in ₹)?
18. 18.Vihaan’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹20 (ribbon)
    Expense: ₹200 (posters)
    How much is the loss (in ₹)?
19. 19.Diya’s stall took in ₹350 on Friday, ₹340 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
20. 20.Saanvi’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹170 (posters)
    Expense: ₹190 (transport)
    What is the profit (in ₹)?
21. 21.Which of these is income (money in)? (a) paying the stall fee (b) tutoring fees received (c) printing posters (d) buying lemons
22. 22.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) the bill or receipt (d) only the bag
23. 23.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) tutoring fees received (d) printing posters
24. 24.📒 Income or expense: payment for a cake order? (a) expense (b) income
25. 25.Farhan’s stall took in ₹190 on Friday, ₹170 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
26. 26.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
27. 27.Vihaan’s record for the day:
    Income: ₹420 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹110 (paper cups)
    Expense: ₹140 (lemons)
    What is the profit (in ₹)?
28. 28.Which of these is income (money in)? (a) buying paper cups (b) cash from selling plants (c) buying lemons (d) paying the stall fee
29. 29.Which of these is an expense (money out)? (a) money from sales (b) buying paper cups (c) payment for a cake order (d) cash from selling plants
30. 30.Kavya’s stall took in ₹150 on Friday, ₹300 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
31. 31.Lakshmi’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹120 (transport)
    Expense: ₹180 (lemons)
    What is the profit (in ₹)?
32. 32.Rohan’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹90 (stall fee)
    Expense: ₹40 (paper cups)
    What is the profit (in ₹)?
33. 33.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) payment for a cake order (d) paying the stall fee
34. 34.Tara’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹10 (paper cups)
    Expense: ₹240 (stall fee)
    How much is the loss (in ₹)?
35. 35.Which of these is an expense (money out)? (a) tutoring fees received (b) cash from selling plants (c) payment for a cake order (d) buying lemons
36. 36.Arjun’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹60 (paper cups)
    Expense: ₹20 (ribbon)
    What is the profit (in ₹)?
37. 37.Ishaan’s income was ₹400 and the profit was ₹60. One expense was ₹280 (posters). How much was the other expense, for ribbon (in ₹)?
38. 38.Aarav’s stall took in ₹230 on Friday, ₹210 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
39. 39.📒 Income or expense: tutoring fees received? (a) income (b) expense
40. 40.Which of these is income (money in)? (a) a card order paid (b) buying paper cups (c) printing posters (d) buying lemons

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