Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 756 · 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.📒 Income or expense: paying the stall fee? (a) income (b) expense
2. 2.Farhan’s record for a rainy day:
   Income: ₹210 (sales)
   Expense: ₹100 (sugar)
   Expense: ₹210 (paper cups)
   How much is the loss (in ₹)?
3. 3.Rohan’s record for the day:
   Income: ₹100 (morning sales)
   Income: ₹80 (evening sales)
   Expense: ₹20 (posters)
   Expense: ₹20 (transport)
   What is the profit (in ₹)?
4. 4.📒 Income or expense: cash from selling plants? (a) expense (b) income
5. 5.📒 Income or expense: money from sales? (a) income (b) expense
6. 6.Nisha’s income was ₹290 and the profit was ₹190. One expense was ₹30 (lemons). How much was the other expense, for ribbon (in ₹)?
7. 7.Which of these is income (money in)? (a) a card order paid (b) bus fare to the market (c) buying paper cups (d) buying lemons
8. 8.📒 Income or expense: buying lemons? (a) income (b) expense
9. 9.Nisha’s record for the day:
   Income: ₹30 (morning sales)
   Income: ₹130 (evening sales)
   Expense: ₹20 (transport)
   Expense: ₹70 (posters)
   What is the profit (in ₹)?
10. 10.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) a selfie (d) nothing
11. 11.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
12. 12.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) bus fare to the market (d) money from sales
13. 13.Aarav’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹20 (ribbon)
    Expense: ₹130 (paper cups)
    What is the profit (in ₹)?
14. 14.True or false: “a card order paid” is income (money in). (a) True (b) False
15. 15.📅 When is the best time to update your records? (a) never (b) once a year (c) the same day (d) whenever you like
16. 16.Dev’s stall took in ₹240 on Friday, ₹120 on Saturday and ₹230 on Sunday. What was the total income (in ₹)?
17. 17.Dev’s income was ₹490 and the profit was ₹140. One expense was ₹260 (sugar). How much was the other expense, for transport (in ₹)?
18. 18.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to fill a notebook (d) to know the real profit
19. 19.📒 Income or expense: payment for a cake order? (a) expense (b) income
20. 20.Gurpreet’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹120 (stall fee)
    Expense: ₹170 (sugar)
    What is the profit (in ₹)?
21. 21.True or false: “bus fare to the market” is income (money in). (a) True (b) False
22. 22.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) just the income (d) expenses − income
23. 23.Aarav’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹280 (posters)
    Expense: ₹20 (ribbon)
    How much is the loss (in ₹)?
24. 24.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) tutoring fees received (d) paying the stall fee
25. 25.Ananya’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹140 (stall fee)
    Expense: ₹50 (paper cups)
    What is the profit (in ₹)?
26. 26.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) paying the stall fee (d) cash from selling plants
27. 27.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) printing posters (d) tutoring fees received
28. 28.Saanvi’s stall took in ₹260 on Friday, ₹80 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
29. 29.Vihaan’s income was ₹480 and the profit was ₹270. One expense was ₹40 (posters). How much was the other expense, for ribbon (in ₹)?
30. 30.Ananya’s stall took in ₹140 on Friday, ₹150 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
31. 31.Which of these is an expense (money out)? (a) money from sales (b) buying paper cups (c) payment for a cake order (d) tutoring fees received
32. 32.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
33. 33.Ishaan’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹370 (ribbon)
    Expense: ₹10 (paper cups)
    How much is the loss (in ₹)?
34. 34.True or false: “buying paper cups” is income (money in). (a) False (b) True
35. 35.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) payment for a cake order (d) paying the stall fee
36. 36.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) tutoring fees received (d) buying lemons
37. 37.Ananya’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹140 (paper cups)
    Expense: ₹80 (posters)
    How much is the loss (in ₹)?
38. 38.Diya’s stall took in ₹280 on Friday, ₹360 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
39. 39.Diya’s stall took in ₹300 on Friday, ₹70 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
40. 40.Meera’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹50 (stall fee)
    Expense: ₹50 (sugar)
    How much is the loss (in ₹)?

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