Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 802 · 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.Nisha’s record for a rainy day:
   Income: ₹300 (sales)
   Expense: ₹180 (ribbon)
   Expense: ₹210 (stall fee)
   How much is the loss (in ₹)?
2. 2.Saanvi’s record for the day:
   Income: ₹120 (morning sales)
   Income: ₹260 (evening sales)
   Expense: ₹50 (sugar)
   Expense: ₹60 (stall fee)
   What is the profit (in ₹)?
3. 3.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
4. 4.📅 When is the best time to update your records? (a) never (b) whenever you like (c) once a year (d) the same day
5. 5.Aarav’s record for the day:
   Income: ₹60 (morning sales)
   Income: ₹340 (evening sales)
   Expense: ₹160 (stall fee)
   Expense: ₹110 (paper cups)
   What is the profit (in ₹)?
6. 6.📒 Income or expense: buying lemons? (a) income (b) expense
7. 7.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) nothing (d) the bill or receipt
8. 8.Aarav’s income was ₹440 and the profit was ₹50. One expense was ₹220 (paper cups). How much was the other expense, for posters (in ₹)?
9. 9.True or false: “buying lemons” is an expense (money out). (a) False (b) True
10. 10.➖ Profit in your records = (a) income + expenses (b) just the income (c) income − expenses (d) expenses − income
11. 11.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) a card order paid (d) bus fare to the market
12. 12.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) buying lemons (d) payment for a cake order
13. 13.Ananya’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹40 (ribbon)
    Expense: ₹160 (lemons)
    What is the profit (in ₹)?
14. 14.Which of these is an expense (money out)? (a) a card order paid (b) buying lemons (c) payment for a cake order (d) cash from selling plants
15. 15.Rohan’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹50 (sugar)
    Expense: ₹80 (paper cups)
    How much is the loss (in ₹)?
16. 16.📒 Income or expense: cash from selling plants? (a) expense (b) income
17. 17.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) no reason (d) to know the real profit
18. 18.Ishaan’s stall took in ₹170 on Friday, ₹130 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
19. 19.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) bus fare to the market (d) tutoring fees received
20. 20.Which of these is an expense (money out)? (a) paying the stall fee (b) payment for a cake order (c) a card order paid (d) tutoring fees received
21. 21.Rohan’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹90 (ribbon)
    Expense: ₹60 (stall fee)
    What is the profit (in ₹)?
22. 22.📒 Income or expense: bus fare to the market? (a) income (b) expense
23. 23.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) cash from selling plants (d) printing posters
24. 24.📒 Income or expense: tutoring fees received? (a) income (b) expense
25. 25.Zoya’s income was ₹100 and the profit was ₹50. One expense was ₹20 (ribbon). How much was the other expense, for stall fee (in ₹)?
26. 26.📒 Income or expense: paying the stall fee? (a) income (b) expense
27. 27.Kabir’s stall took in ₹130 on Friday, ₹160 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
28. 28.Which of these is an expense (money out)? (a) printing posters (b) money from sales (c) tutoring fees received (d) cash from selling plants
29. 29.📒 Income or expense: payment for a cake order? (a) income (b) expense
30. 30.True or false: “printing posters” is an expense (money out). (a) False (b) True
31. 31.Meera’s stall took in ₹300 on Friday, ₹340 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
32. 32.True or false: “cash from selling plants” is income (money in). (a) True (b) False
33. 33.True or false: “tutoring fees received” is income (money in). (a) True (b) False
34. 34.Kabir’s record for the day:
    Income: ₹470 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹170 (lemons)
    Expense: ₹130 (stall fee)
    What is the profit (in ₹)?
35. 35.True or false: “buying paper cups” is income (money in). (a) True (b) False
36. 36.Diya’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹80 (ribbon)
    Expense: ₹150 (lemons)
    What is the profit (in ₹)?
37. 37.Farhan’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹70 (transport)
    Expense: ₹70 (lemons)
    What is the profit (in ₹)?
38. 38.Diya’s record for a rainy day:
    Income: ₹170 (sales)
    Expense: ₹160 (posters)
    Expense: ₹80 (stall fee)
    How much is the loss (in ₹)?
39. 39.Dev’s stall took in ₹360 on Friday, ₹300 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
40. 40.Meera’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹300 (lemons)
    Expense: ₹60 (posters)
    How much is the loss (in ₹)?

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