Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 768 · 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.Which of these is income (money in)? (a) buying lemons (b) buying paper cups (c) printing posters (d) tutoring fees received
2. 2.Aarav’s record for a rainy day:
   Income: ₹190 (sales)
   Expense: ₹170 (ribbon)
   Expense: ₹100 (card paper)
   How much is the loss (in ₹)?
3. 3.📒 Why write down every sale and cost? (a) no reason (b) to look busy (c) to know the real profit (d) to fill a notebook
4. 4.Vihaan’s record for a rainy day:
   Income: ₹260 (sales)
   Expense: ₹260 (lemons)
   Expense: ₹60 (card paper)
   How much is the loss (in ₹)?
5. 5.Kavya’s record for a rainy day:
   Income: ₹250 (sales)
   Expense: ₹70 (transport)
   Expense: ₹200 (paper cups)
   How much is the loss (in ₹)?
6. 6.Ananya’s record for the day:
   Income: ₹420 (morning sales)
   Income: ₹20 (evening sales)
   Expense: ₹190 (paper cups)
   Expense: ₹200 (ribbon)
   What is the profit (in ₹)?
7. 7.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) buying lemons (d) payment for a cake order
8. 8.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) only the bag (d) the bill or receipt
9. 9.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) just the income (d) expenses − income
10. 10.Riya’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹50 (transport)
    Expense: ₹60 (card paper)
    How much is the loss (in ₹)?
11. 11.📒 Income or expense: tutoring fees received? (a) expense (b) income
12. 12.Ananya’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹110 (paper cups)
    Expense: ₹170 (lemons)
    What is the profit (in ₹)?
13. 13.Dev’s stall took in ₹240 on Friday, ₹120 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
14. 14.Which of these is income (money in)? (a) a card order paid (b) printing posters (c) paying the stall fee (d) buying lemons
15. 15.Lakshmi’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹70 (paper cups)
    Expense: ₹70 (card paper)
    How much is the loss (in ₹)?
16. 16.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) cash from selling plants (d) printing posters
17. 17.Kabir’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹10 (posters)
    Expense: ₹210 (paper cups)
    How much is the loss (in ₹)?
18. 18.Riya’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹50 (stall fee)
    Expense: ₹90 (sugar)
    What is the profit (in ₹)?
19. 19.Joseph’s stall took in ₹260 on Friday, ₹60 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
20. 20.Gurpreet’s stall took in ₹370 on Friday, ₹140 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
21. 21.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
22. 22.Zoya’s stall took in ₹170 on Friday, ₹390 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
23. 23.Arjun’s stall took in ₹250 on Friday, ₹130 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
24. 24.Joseph’s stall took in ₹380 on Friday, ₹110 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
25. 25.Arjun’s stall took in ₹190 on Friday, ₹320 on Saturday and ₹210 on Sunday. What was the total income (in ₹)?
26. 26.Lakshmi’s income was ₹220 and the profit was ₹120. One expense was ₹20 (paper cups). How much was the other expense, for transport (in ₹)?
27. 27.Nisha’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹210 (card paper)
    Expense: ₹150 (paper cups)
    How much is the loss (in ₹)?
28. 28.Gurpreet’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹160 (stall fee)
    Expense: ₹70 (lemons)
    How much is the loss (in ₹)?
29. 29.Zoya’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹30 (posters)
    Expense: ₹180 (card paper)
    What is the profit (in ₹)?
30. 30.📒 Income or expense: money from sales? (a) expense (b) income
31. 31.True or false: “buying lemons” is an expense (money out). (a) False (b) True
32. 32.Nisha’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹10 (transport)
    Expense: ₹130 (sugar)
    How much is the loss (in ₹)?
33. 33.📒 Income or expense: buying lemons? (a) expense (b) income
34. 34.True or false: “buying paper cups” is income (money in). (a) False (b) True
35. 35.Meera’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹230 (card paper)
    Expense: ₹70 (posters)
    How much is the loss (in ₹)?
36. 36.Gurpreet’s stall took in ₹250 on Friday, ₹370 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
37. 37.Kabir’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹10 (sugar)
    Expense: ₹260 (paper cups)
    How much is the loss (in ₹)?
38. 38.Tara’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹130 (lemons)
    Expense: ₹100 (stall fee)
    How much is the loss (in ₹)?
39. 39.Lakshmi’s stall took in ₹360 on Friday, ₹120 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
40. 40.📅 When is the best time to update your records? (a) whenever you like (b) once a year (c) never (d) the same day

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