Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 664 · 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.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) just the income (d) income + expenses
2. 2.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) a selfie (d) the bill or receipt
3. 3.📅 When is the best time to update your records? (a) the same day (b) once a year (c) whenever you like (d) never
4. 4.📒 Income or expense: a card order paid? (a) expense (b) income
5. 5.Rohan’s record for a rainy day:
   Income: ₹100 (sales)
   Expense: ₹10 (paper cups)
   Expense: ₹120 (stall fee)
   How much is the loss (in ₹)?
6. 6.Ananya’s record for a rainy day:
   Income: ₹70 (sales)
   Expense: ₹40 (card paper)
   Expense: ₹80 (ribbon)
   How much is the loss (in ₹)?
7. 7.Zoya’s record for the day:
   Income: ₹290 (morning sales)
   Income: ₹80 (evening sales)
   Expense: ₹130 (stall fee)
   Expense: ₹40 (paper cups)
   What is the profit (in ₹)?
8. 8.Dev’s income was ₹140 and the profit was ₹20. One expense was ₹110 (card paper). How much was the other expense, for lemons (in ₹)?
9. 9.True or false: “a card order paid” is an expense (money out). (a) False (b) True
10. 10.📒 Income or expense: tutoring fees received? (a) expense (b) income
11. 11.Riya’s income was ₹180 and the profit was ₹140. One expense was ₹30 (transport). How much was the other expense, for posters (in ₹)?
12. 12.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
13. 13.True or false: “tutoring fees received” is income (money in). (a) True (b) False
14. 14.Which of these is an expense (money out)? (a) tutoring fees received (b) printing posters (c) a card order paid (d) money from sales
15. 15.Arjun’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹80 (card paper)
    Expense: ₹50 (paper cups)
    How much is the loss (in ₹)?
16. 16.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
17. 17.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) a card order paid (d) buying lemons
18. 18.True or false: “cash from selling plants” is income (money in). (a) True (b) False
19. 19.Arjun’s stall took in ₹320 on Friday, ₹100 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
20. 20.Which of these is income (money in)? (a) payment for a cake order (b) bus fare to the market (c) buying paper cups (d) printing posters
21. 21.True or false: “buying paper cups” is income (money in). (a) True (b) False
22. 22.True or false: “bus fare to the market” is income (money in). (a) True (b) False
23. 23.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) no reason (d) to fill a notebook
24. 24.Joseph’s stall took in ₹150 on Friday, ₹220 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
25. 25.Joseph’s stall took in ₹120 on Friday, ₹200 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
26. 26.Dev’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹270 (ribbon)
    Expense: ₹130 (lemons)
    How much is the loss (in ₹)?
27. 27.True or false: “paying the stall fee” is income (money in). (a) False (b) True
28. 28.Joseph’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹190 (paper cups)
    Expense: ₹130 (sugar)
    How much is the loss (in ₹)?
29. 29.Dev’s stall took in ₹300 on Friday, ₹280 on Saturday and ₹220 on Sunday. What was the total income (in ₹)?
30. 30.True or false: “money from sales” is income (money in). (a) False (b) True
31. 31.Rohan’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹20 (stall fee)
    Expense: ₹270 (lemons)
    How much is the loss (in ₹)?
32. 32.Which of these is income (money in)? (a) cash from selling plants (b) buying paper cups (c) paying the stall fee (d) buying lemons
33. 33.📒 Income or expense: money from sales? (a) income (b) expense
34. 34.Diya’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹140 (lemons)
    Expense: ₹40 (transport)
    How much is the loss (in ₹)?
35. 35.Ananya’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹170 (stall fee)
    Expense: ₹20 (lemons)
    What is the profit (in ₹)?
36. 36.Which of these is an expense (money out)? (a) tutoring fees received (b) buying paper cups (c) payment for a cake order (d) a card order paid
37. 37.Joseph’s record for the day:
    Income: ₹480 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹200 (card paper)
    Expense: ₹180 (transport)
    What is the profit (in ₹)?
38. 38.True or false: “a card order paid” is income (money in). (a) False (b) True
39. 39.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
40. 40.Arjun’s record for the day:
    Income: ₹20 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹30 (stall fee)
    Expense: ₹30 (card paper)
    What is the profit (in ₹)?

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