Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 78 · 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.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
2. 2.Rohan’s record for a rainy day:
   Income: ₹230 (sales)
   Expense: ₹50 (paper cups)
   Expense: ₹250 (ribbon)
   How much is the loss (in ₹)?
3. 3.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) to fill a notebook (d) no reason
4. 4.Ishaan’s income was ₹110 and the profit was ₹10. One expense was ₹10 (sugar). How much was the other expense, for transport (in ₹)?
5. 5.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) cash from selling plants (d) buying lemons
6. 6.Aarav’s income was ₹310 and the profit was ₹220. One expense was ₹60 (stall fee). How much was the other expense, for card paper (in ₹)?
7. 7.📒 Income or expense: payment for a cake order? (a) expense (b) income
8. 8.Dev’s record for the day:
   Income: ₹80 (morning sales)
   Income: ₹220 (evening sales)
   Expense: ₹100 (lemons)
   Expense: ₹100 (stall fee)
   What is the profit (in ₹)?
9. 9.📒 Income or expense: paying the stall fee? (a) expense (b) income
10. 10.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) money from sales (d) printing posters
11. 11.True or false: “buying paper cups” is income (money in). (a) True (b) False
12. 12.📒 Income or expense: buying paper cups? (a) expense (b) income
13. 13.Arjun’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹90 (ribbon)
    Expense: ₹40 (stall fee)
    What is the profit (in ₹)?
14. 14.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
15. 15.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) a selfie (c) nothing (d) only the bag
16. 16.Which of these is income (money in)? (a) buying lemons (b) tutoring fees received (c) paying the stall fee (d) buying paper cups
17. 17.Lakshmi’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹20 (lemons)
    Expense: ₹50 (stall fee)
    How much is the loss (in ₹)?
18. 18.Diya’s income was ₹110 and the profit was ₹20. One expense was ₹10 (lemons). How much was the other expense, for sugar (in ₹)?
19. 19.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
20. 20.True or false: “payment for a cake order” is income (money in). (a) False (b) True
21. 21.📒 Income or expense: cash from selling plants? (a) expense (b) income
22. 22.Joseph’s stall took in ₹350 on Friday, ₹400 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
23. 23.Which of these is income (money in)? (a) printing posters (b) payment for a cake order (c) buying lemons (d) bus fare to the market
24. 24.📒 Income or expense: money from sales? (a) expense (b) income
25. 25.Kabir’s stall took in ₹210 on Friday, ₹90 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
26. 26.📒 Income or expense: tutoring fees received? (a) income (b) expense
27. 27.Farhan’s stall took in ₹140 on Friday, ₹220 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
28. 28.📅 When is the best time to update your records? (a) never (b) whenever you like (c) the same day (d) once a year
29. 29.📒 Income or expense: buying lemons? (a) expense (b) income
30. 30.Farhan’s stall took in ₹130 on Friday, ₹270 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
31. 31.Which of these is income (money in)? (a) buying lemons (b) a card order paid (c) buying paper cups (d) bus fare to the market
32. 32.Ananya’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹180 (posters)
    Expense: ₹70 (sugar)
    What is the profit (in ₹)?
33. 33.Diya’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹200 (posters)
    Expense: ₹130 (lemons)
    How much is the loss (in ₹)?
34. 34.📒 Income or expense: printing posters? (a) income (b) expense
35. 35.Arjun’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹30 (paper cups)
    Expense: ₹260 (card paper)
    How much is the loss (in ₹)?
36. 36.Ishaan’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹70 (card paper)
    Expense: ₹60 (transport)
    What is the profit (in ₹)?
37. 37.Rohan’s income was ₹230 and the profit was ₹60. One expense was ₹20 (stall fee). How much was the other expense, for posters (in ₹)?
38. 38.Gurpreet’s stall took in ₹70 on Friday, ₹330 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
39. 39.Rohan’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹170 (paper cups)
    Expense: ₹130 (lemons)
    What is the profit (in ₹)?
40. 40.True or false: “buying paper cups” is an expense (money out). (a) False (b) True

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