Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 824 · 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.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) expenses − income (d) just the income
2. 2.📒 Income or expense: bus fare to the market? (a) income (b) expense
3. 3.Vihaan’s record for a rainy day:
   Income: ₹90 (sales)
   Expense: ₹120 (paper cups)
   Expense: ₹40 (posters)
   How much is the loss (in ₹)?
4. 4.Lakshmi’s income was ₹120 and the profit was ₹70. One expense was ₹30 (paper cups). How much was the other expense, for stall fee (in ₹)?
5. 5.Riya’s income was ₹440 and the profit was ₹260. One expense was ₹60 (card paper). How much was the other expense, for posters (in ₹)?
6. 6.📒 Income or expense: printing posters? (a) income (b) expense
7. 7.Ananya’s stall took in ₹130 on Friday, ₹290 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
8. 8.Zoya’s record for the day:
   Income: ₹240 (morning sales)
   Income: ₹100 (evening sales)
   Expense: ₹160 (posters)
   Expense: ₹40 (lemons)
   What is the profit (in ₹)?
9. 9.📒 Income or expense: payment for a cake order? (a) expense (b) income
10. 10.📅 When is the best time to update your records? (a) once a year (b) the same day (c) never (d) whenever you like
11. 11.📒 Why write down every sale and cost? (a) to fill a notebook (b) to know the real profit (c) to look busy (d) no reason
12. 12.Rohan’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹60 (stall fee)
    Expense: ₹30 (sugar)
    How much is the loss (in ₹)?
13. 13.True or false: “buying lemons” is an expense (money out). (a) True (b) False
14. 14.📒 Income or expense: buying paper cups? (a) income (b) expense
15. 15.Which of these is income (money in)? (a) paying the stall fee (b) tutoring fees received (c) buying paper cups (d) bus fare to the market
16. 16.Farhan’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹270 (evening sales)
    Expense: ₹190 (card paper)
    Expense: ₹130 (sugar)
    What is the profit (in ₹)?
17. 17.Ishaan’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹210 (paper cups)
    Expense: ₹50 (card paper)
    How much is the loss (in ₹)?
18. 18.Kabir’s stall took in ₹270 on Friday, ₹200 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
19. 19.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) nothing (c) only the bag (d) a selfie
20. 20.Tara’s income was ₹260 and the profit was ₹110. One expense was ₹20 (paper cups). How much was the other expense, for transport (in ₹)?
21. 21.Which of these is income (money in)? (a) a card order paid (b) paying the stall fee (c) buying paper cups (d) bus fare to the market
22. 22.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) printing posters (d) tutoring fees received
23. 23.Ananya’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹90 (card paper)
    Expense: ₹140 (paper cups)
    What is the profit (in ₹)?
24. 24.Diya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹500 (evening sales)
    Expense: ₹170 (stall fee)
    Expense: ₹200 (lemons)
    What is the profit (in ₹)?
25. 25.True or false: “bus fare to the market” is income (money in). (a) True (b) False
26. 26.Diya’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹50 (card paper)
    Expense: ₹280 (lemons)
    How much is the loss (in ₹)?
27. 27.Tara’s record for a rainy day:
    Income: ₹260 (sales)
    Expense: ₹290 (lemons)
    Expense: ₹50 (ribbon)
    How much is the loss (in ₹)?
28. 28.📒 Income or expense: money from sales? (a) expense (b) income
29. 29.Which of these is an expense (money out)? (a) buying lemons (b) money from sales (c) tutoring fees received (d) a card order paid
30. 30.Nisha’s stall took in ₹120 on Friday, ₹130 on Saturday and ₹390 on Sunday. What was the total income (in ₹)?
31. 31.Which of these is income (money in)? (a) paying the stall fee (b) cash from selling plants (c) buying lemons (d) printing posters
32. 32.Which of these is income (money in)? (a) printing posters (b) buying paper cups (c) bus fare to the market (d) money from sales
33. 33.Diya’s record for the day:
    Income: ₹270 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹150 (posters)
    Expense: ₹180 (paper cups)
    What is the profit (in ₹)?
34. 34.Arjun’s stall took in ₹80 on Friday, ₹270 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
35. 35.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
36. 36.Rohan’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹290 (stall fee)
    Expense: ₹40 (sugar)
    How much is the loss (in ₹)?
37. 37.Rohan’s stall took in ₹260 on Friday, ₹240 on Saturday and ₹130 on Sunday. What was the total income (in ₹)?
38. 38.Nisha’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹100 (sugar)
    Expense: ₹70 (paper cups)
    What is the profit (in ₹)?
39. 39.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
40. 40.Ananya’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹340 (ribbon)
    Expense: ₹20 (stall fee)
    How much is the loss (in ₹)?

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