Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 793 · 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.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) the bill or receipt (d) nothing
2. 2.📒 Income or expense: buying lemons? (a) expense (b) income
3. 3.Zoya’s record for a rainy day:
   Income: ₹90 (sales)
   Expense: ₹60 (sugar)
   Expense: ₹40 (posters)
   How much is the loss (in ₹)?
4. 4.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) bus fare to the market (d) cash from selling plants
5. 5.Riya’s stall took in ₹210 on Friday, ₹140 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
6. 6.True or false: “a card order paid” is an expense (money out). (a) True (b) False
7. 7.➖ Profit in your records = (a) income − expenses (b) just the income (c) expenses − income (d) income + expenses
8. 8.Ananya’s income was ₹100 and the profit was ₹50. One expense was ₹30 (posters). How much was the other expense, for paper cups (in ₹)?
9. 9.True or false: “bus fare to the market” is income (money in). (a) True (b) False
10. 10.Arjun’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹80 (card paper)
    Expense: ₹100 (paper cups)
    What is the profit (in ₹)?
11. 11.📒 Income or expense: a card order paid? (a) income (b) expense
12. 12.Lakshmi’s income was ₹200 and the profit was ₹120. One expense was ₹30 (ribbon). How much was the other expense, for posters (in ₹)?
13. 13.Tara’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹80 (posters)
    Expense: ₹110 (sugar)
    How much is the loss (in ₹)?
14. 14.Diya’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹90 (posters)
    Expense: ₹120 (stall fee)
    How much is the loss (in ₹)?
15. 15.📒 Income or expense: printing posters? (a) income (b) expense
16. 16.Riya’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹130 (posters)
    Expense: ₹80 (card paper)
    What is the profit (in ₹)?
17. 17.True or false: “money from sales” is an expense (money out). (a) True (b) False
18. 18.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) once a year (d) never
19. 19.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) to know the real profit (d) no reason
20. 20.Tara’s income was ₹490 and the profit was ₹120. One expense was ₹40 (posters). How much was the other expense, for card paper (in ₹)?
21. 21.True or false: “tutoring fees received” is income (money in). (a) False (b) True
22. 22.Riya’s stall took in ₹90 on Friday, ₹250 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
23. 23.True or false: “paying the stall fee” is income (money in). (a) True (b) False
24. 24.Ananya’s income was ₹450 and the profit was ₹220. One expense was ₹100 (stall fee). How much was the other expense, for sugar (in ₹)?
25. 25.Saanvi’s record for a rainy day:
    Income: ₹300 (sales)
    Expense: ₹90 (sugar)
    Expense: ₹260 (transport)
    How much is the loss (in ₹)?
26. 26.Saanvi’s stall took in ₹100 on Friday, ₹230 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
27. 27.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
28. 28.True or false: “printing posters” is income (money in). (a) False (b) True
29. 29.Which of these is an expense (money out)? (a) buying lemons (b) cash from selling plants (c) tutoring fees received (d) money from sales
30. 30.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
31. 31.Which of these is income (money in)? (a) money from sales (b) buying paper cups (c) buying lemons (d) paying the stall fee
32. 32.Kavya’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹180 (posters)
    Expense: ₹80 (transport)
    What is the profit (in ₹)?
33. 33.Vihaan’s stall took in ₹270 on Friday, ₹90 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
34. 34.Nisha’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹140 (lemons)
    Expense: ₹40 (stall fee)
    What is the profit (in ₹)?
35. 35.📒 Income or expense: cash from selling plants? (a) expense (b) income
36. 36.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) buying paper cups (d) a card order paid
37. 37.Dev’s record for the day:
    Income: ₹370 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹40 (transport)
    Expense: ₹60 (stall fee)
    What is the profit (in ₹)?
38. 38.Saanvi’s stall took in ₹250 on Friday, ₹180 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
39. 39.📒 Income or expense: tutoring fees received? (a) income (b) expense
40. 40.Aarav’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹80 (ribbon)
    Expense: ₹30 (stall fee)
    What is the profit (in ₹)?

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