Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 805 · 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.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) money from sales (d) buying lemons
3. 3.True or false: “money from sales” is income (money in). (a) False (b) True
4. 4.Which of these is income (money in)? (a) buying lemons (b) cash from selling plants (c) paying the stall fee (d) printing posters
5. 5.Lakshmi’s record for the day:
   Income: ₹230 (morning sales)
   Income: ₹290 (evening sales)
   Expense: ₹180 (paper cups)
   Expense: ₹80 (ribbon)
   What is the profit (in ₹)?
6. 6.📒 Income or expense: bus fare to the market? (a) expense (b) income
7. 7.📒 Income or expense: printing posters? (a) income (b) expense
8. 8.📒 Income or expense: a card order paid? (a) income (b) expense
9. 9.Arjun’s stall took in ₹350 on Friday, ₹350 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
10. 10.📒 Income or expense: buying paper cups? (a) income (b) expense
11. 11.True or false: “a card order paid” is income (money in). (a) True (b) False
12. 12.Aarav’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹130 (ribbon)
    Expense: ₹90 (lemons)
    How much is the loss (in ₹)?
13. 13.➖ Profit in your records = (a) income − expenses (b) expenses − income (c) just the income (d) income + expenses
14. 14.Vihaan’s stall took in ₹200 on Friday, ₹120 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
15. 15.True or false: “buying lemons” is income (money in). (a) False (b) True
16. 16.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) paying the stall fee (d) a card order paid
17. 17.📒 Income or expense: buying lemons? (a) income (b) expense
18. 18.Gurpreet’s income was ₹300 and the profit was ₹220. One expense was ₹30 (paper cups). How much was the other expense, for transport (in ₹)?
19. 19.True or false: “bus fare to the market” is income (money in). (a) True (b) False
20. 20.📒 Income or expense: tutoring fees received? (a) income (b) expense
21. 21.Ishaan’s stall took in ₹280 on Friday, ₹260 on Saturday and ₹90 on Sunday. What was the total income (in ₹)?
22. 22.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) tutoring fees received (d) buying paper cups
23. 23.Zoya’s stall took in ₹130 on Friday, ₹130 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
24. 24.Arjun’s stall took in ₹170 on Friday, ₹200 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
25. 25.Joseph’s stall took in ₹210 on Friday, ₹200 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
26. 26.True or false: “printing posters” is an expense (money out). (a) True (b) False
27. 27.Which of these is income (money in)? (a) buying paper cups (b) paying the stall fee (c) payment for a cake order (d) buying lemons
28. 28.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
29. 29.📒 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
30. 30.True or false: “paying the stall fee” is income (money in). (a) True (b) False
31. 31.📒 Income or expense: money from sales? (a) expense (b) income
32. 32.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) buying paper cups (d) tutoring fees received
33. 33.Arjun’s stall took in ₹270 on Friday, ₹220 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
34. 34.Riya’s stall took in ₹140 on Friday, ₹70 on Saturday and ₹200 on Sunday. What was the total income (in ₹)?
35. 35.📒 Income or expense: payment for a cake order? (a) income (b) expense
36. 36.Aarav’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹120 (posters)
    Expense: ₹130 (sugar)
    What is the profit (in ₹)?
37. 37.Nisha’s income was ₹100 and the profit was ₹40. One expense was ₹10 (card paper). How much was the other expense, for stall fee (in ₹)?
38. 38.🧾 What should you keep after buying supplies? (a) nothing (b) only the bag (c) the bill or receipt (d) a selfie
39. 39.Joseph’s record for a rainy day:
    Income: ₹150 (sales)
    Expense: ₹110 (sugar)
    Expense: ₹130 (transport)
    How much is the loss (in ₹)?
40. 40.📒 Income or expense: cash from selling plants? (a) income (b) expense

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