Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 754 · 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.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) once a year (d) never
2. 2.Vihaan’s record for the day:
   Income: ₹30 (morning sales)
   Income: ₹310 (evening sales)
   Expense: ₹160 (paper cups)
   Expense: ₹50 (stall fee)
   What is the profit (in ₹)?
3. 3.📒 Income or expense: tutoring fees received? (a) expense (b) income
4. 4.Ishaan’s income was ₹360 and the profit was ₹160. One expense was ₹120 (sugar). How much was the other expense, for paper cups (in ₹)?
5. 5.Ananya’s record for the day:
   Income: ₹50 (morning sales)
   Income: ₹140 (evening sales)
   Expense: ₹40 (sugar)
   Expense: ₹20 (paper cups)
   What is the profit (in ₹)?
6. 6.True or false: “bus fare to the market” is income (money in). (a) True (b) False
7. 7.Arjun’s stall took in ₹230 on Friday, ₹120 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
8. 8.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
9. 9.📒 Income or expense: cash from selling plants? (a) expense (b) income
10. 10.True or false: “a card order paid” is an expense (money out). (a) True (b) False
11. 11.Rohan’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹200 (stall fee)
    Expense: ₹90 (posters)
    What is the profit (in ₹)?
12. 12.Arjun’s income was ₹220 and the profit was ₹10. One expense was ₹50 (paper cups). How much was the other expense, for transport (in ₹)?
13. 13.True or false: “printing posters” is an expense (money out). (a) True (b) False
14. 14.Which of these is income (money in)? (a) a card order paid (b) buying lemons (c) paying the stall fee (d) buying paper cups
15. 15.Which of these is income (money in)? (a) bus fare to the market (b) money from sales (c) buying lemons (d) printing posters
16. 16.➖ Profit in your records = (a) just the income (b) income − expenses (c) expenses − income (d) income + expenses
17. 17.Saanvi’s stall took in ₹120 on Friday, ₹200 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
18. 18.Nisha’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹120 (transport)
    Expense: ₹20 (ribbon)
    How much is the loss (in ₹)?
19. 19.Farhan’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹180 (transport)
    Expense: ₹70 (posters)
    What is the profit (in ₹)?
20. 20.True or false: “money from sales” is income (money in). (a) False (b) True
21. 21.Kabir’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹150 (lemons)
    Expense: ₹20 (posters)
    How much is the loss (in ₹)?
22. 22.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) only the bag (d) nothing
23. 23.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to fill a notebook (d) to know the real profit
24. 24.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
25. 25.Ananya’s stall took in ₹230 on Friday, ₹350 on Saturday and ₹320 on Sunday. What was the total income (in ₹)?
26. 26.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) tutoring fees received (d) buying lemons
27. 27.Meera’s income was ₹150 and the profit was ₹40. One expense was ₹30 (lemons). How much was the other expense, for posters (in ₹)?
28. 28.Dev’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹10 (card paper)
    Expense: ₹70 (sugar)
    How much is the loss (in ₹)?
29. 29.Kabir’s stall took in ₹370 on Friday, ₹280 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
30. 30.📒 Income or expense: printing posters? (a) expense (b) income
31. 31.Nisha’s stall took in ₹60 on Friday, ₹120 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
32. 32.Rohan’s record for the day:
    Income: ₹160 (morning sales)
    Income: ₹420 (evening sales)
    Expense: ₹140 (lemons)
    Expense: ₹200 (sugar)
    What is the profit (in ₹)?
33. 33.📒 Income or expense: money from sales? (a) income (b) expense
34. 34.Joseph’s stall took in ₹150 on Friday, ₹80 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
35. 35.True or false: “printing posters” is income (money in). (a) False (b) True
36. 36.Saanvi’s stall took in ₹220 on Friday, ₹340 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
37. 37.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) buying paper cups (d) payment for a cake order
38. 38.Lakshmi’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹50 (lemons)
    Expense: ₹130 (ribbon)
    How much is the loss (in ₹)?
39. 39.Which of these is income (money in)? (a) bus fare to the market (b) printing posters (c) cash from selling plants (d) paying the stall fee
40. 40.Ananya’s income was ₹460 and the profit was ₹180. One expense was ₹200 (paper cups). How much was the other expense, for ribbon (in ₹)?

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