Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 749 · 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.Diya’s income was ₹250 and the profit was ₹150. One expense was ₹60 (transport). How much was the other expense, for ribbon (in ₹)?
2. 2.📅 When is the best time to update your records? (a) never (b) once a year (c) the same day (d) whenever you like
3. 3.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) just the income (d) expenses − income
4. 4.Which of these is income (money in)? (a) a card order paid (b) printing posters (c) bus fare to the market (d) buying lemons
5. 5.Gurpreet’s record for a rainy day:
   Income: ₹140 (sales)
   Expense: ₹10 (posters)
   Expense: ₹160 (card paper)
   How much is the loss (in ₹)?
6. 6.True or false: “paying the stall fee” is income (money in). (a) False (b) True
7. 7.Joseph’s record for a rainy day:
   Income: ₹90 (sales)
   Expense: ₹70 (ribbon)
   Expense: ₹30 (card paper)
   How much is the loss (in ₹)?
8. 8.📒 Income or expense: a card order paid? (a) income (b) expense
9. 9.True or false: “buying lemons” is income (money in). (a) True (b) False
10. 10.Aarav’s stall took in ₹360 on Friday, ₹70 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
11. 11.Dev’s income was ₹210 and the profit was ₹80. One expense was ₹80 (posters). How much was the other expense, for transport (in ₹)?
12. 12.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) printing posters (d) money from sales
13. 13.Kavya’s income was ₹190 and the profit was ₹100. One expense was ₹80 (posters). How much was the other expense, for stall fee (in ₹)?
14. 14.📒 Income or expense: payment for a cake order? (a) income (b) expense
15. 15.Which of these is income (money in)? (a) printing posters (b) cash from selling plants (c) bus fare to the market (d) buying lemons
16. 16.Saanvi’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹50 (posters)
    Expense: ₹160 (card paper)
    What is the profit (in ₹)?
17. 17.📒 Income or expense: buying lemons? (a) income (b) expense
18. 18.True or false: “money from sales” is income (money in). (a) False (b) True
19. 19.True or false: “printing posters” is an expense (money out). (a) False (b) True
20. 20.True or false: “money from sales” is an expense (money out). (a) True (b) False
21. 21.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) a selfie (d) the bill or receipt
22. 22.Nisha’s stall took in ₹370 on Friday, ₹230 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
23. 23.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
24. 24.Gurpreet’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹80 (paper cups)
    Expense: ₹80 (card paper)
    What is the profit (in ₹)?
25. 25.Kavya’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹20 (card paper)
    Expense: ₹70 (ribbon)
    What is the profit (in ₹)?
26. 26.Meera’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹40 (stall fee)
    Expense: ₹70 (lemons)
    What is the profit (in ₹)?
27. 27.Which of these is an expense (money out)? (a) paying the stall fee (b) payment for a cake order (c) tutoring fees received (d) cash from selling plants
28. 28.Gurpreet’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹100 (card paper)
    Expense: ₹20 (stall fee)
    How much is the loss (in ₹)?
29. 29.Zoya’s income was ₹100 and the profit was ₹80. One expense was ₹10 (ribbon). How much was the other expense, for sugar (in ₹)?
30. 30.Rohan’s income was ₹350 and the profit was ₹60. One expense was ₹190 (paper cups). How much was the other expense, for transport (in ₹)?
31. 31.Rohan’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹180 (sugar)
    Expense: ₹160 (ribbon)
    What is the profit (in ₹)?
32. 32.📒 Income or expense: money from sales? (a) income (b) expense
33. 33.Vihaan’s record for the day:
    Income: ₹410 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹160 (lemons)
    Expense: ₹190 (ribbon)
    What is the profit (in ₹)?
34. 34.📒 Why write down every sale and cost? (a) to fill a notebook (b) to look busy (c) no reason (d) to know the real profit
35. 35.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
36. 36.📒 Income or expense: buying paper cups? (a) income (b) expense
37. 37.Ishaan’s stall took in ₹270 on Friday, ₹290 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
38. 38.Kabir’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹130 (lemons)
    Expense: ₹100 (sugar)
    How much is the loss (in ₹)?
39. 39.True or false: “buying lemons” is an expense (money out). (a) False (b) True
40. 40.Dev’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹100 (ribbon)
    Expense: ₹60 (paper cups)
    What is the profit (in ₹)?

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