Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 827 · 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.📒 Why write down every sale and cost? (a) to know the real profit (b) to fill a notebook (c) no reason (d) to look busy
2. 2.Riya’s record for the day:
   Income: ₹220 (morning sales)
   Income: ₹40 (evening sales)
   Expense: ₹110 (lemons)
   Expense: ₹30 (posters)
   What is the profit (in ₹)?
3. 3.Kavya’s stall took in ₹100 on Friday, ₹310 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
4. 4.Rohan’s record for the day:
   Income: ₹40 (morning sales)
   Income: ₹370 (evening sales)
   Expense: ₹120 (card paper)
   Expense: ₹40 (lemons)
   What is the profit (in ₹)?
5. 5.Which of these is income (money in)? (a) bus fare to the market (b) tutoring fees received (c) buying paper cups (d) paying the stall fee
6. 6.Kavya’s stall took in ₹330 on Friday, ₹260 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
7. 7.Zoya’s record for the day:
   Income: ₹80 (morning sales)
   Income: ₹230 (evening sales)
   Expense: ₹20 (stall fee)
   Expense: ₹150 (sugar)
   What is the profit (in ₹)?
8. 8.🧾 What should you keep after buying supplies? (a) only the bag (b) the bill or receipt (c) a selfie (d) nothing
9. 9.📒 Income or expense: buying paper cups? (a) expense (b) income
10. 10.Which of these is an expense (money out)? (a) money from sales (b) cash from selling plants (c) a card order paid (d) buying lemons
11. 11.Ananya’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹60 (posters)
    Expense: ₹40 (transport)
    How much is the loss (in ₹)?
12. 12.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
13. 13.Ishaan’s stall took in ₹290 on Friday, ₹170 on Saturday and ₹170 on Sunday. What was the total income (in ₹)?
14. 14.Nisha’s record for the day:
    Income: ₹230 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹120 (ribbon)
    Expense: ₹100 (paper cups)
    What is the profit (in ₹)?
15. 15.Which of these is an expense (money out)? (a) paying the stall fee (b) payment for a cake order (c) money from sales (d) cash from selling plants
16. 16.📒 Income or expense: payment for a cake order? (a) income (b) expense
17. 17.True or false: “bus fare to the market” is income (money in). (a) False (b) True
18. 18.Aarav’s stall took in ₹310 on Friday, ₹360 on Saturday and ₹380 on Sunday. What was the total income (in ₹)?
19. 19.Meera’s stall took in ₹280 on Friday, ₹90 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
20. 20.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
21. 21.Ananya’s stall took in ₹220 on Friday, ₹310 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
22. 22.Which of these is an expense (money out)? (a) a card order paid (b) tutoring fees received (c) payment for a cake order (d) buying paper cups
23. 23.Which of these is an expense (money out)? (a) a card order paid (b) bus fare to the market (c) tutoring fees received (d) payment for a cake order
24. 24.📒 Income or expense: tutoring fees received? (a) expense (b) income
25. 25.True or false: “printing posters” is an expense (money out). (a) False (b) True
26. 26.True or false: “paying the stall fee” is an expense (money out). (a) True (b) False
27. 27.➖ Profit in your records = (a) expenses − income (b) income + expenses (c) income − expenses (d) just the income
28. 28.Kavya’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹160 (card paper)
    Expense: ₹170 (lemons)
    What is the profit (in ₹)?
29. 29.📒 Income or expense: bus fare to the market? (a) income (b) expense
30. 30.📅 When is the best time to update your records? (a) once a year (b) never (c) whenever you like (d) the same day
31. 31.Kabir’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹170 (sugar)
    Expense: ₹30 (card paper)
    What is the profit (in ₹)?
32. 32.Kavya’s income was ₹100 and the profit was ₹20. One expense was ₹40 (ribbon). How much was the other expense, for posters (in ₹)?
33. 33.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
34. 34.Tara’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹190 (lemons)
    Expense: ₹130 (card paper)
    What is the profit (in ₹)?
35. 35.📒 Income or expense: printing posters? (a) income (b) expense
36. 36.Saanvi’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹550 (evening sales)
    Expense: ₹200 (lemons)
    Expense: ₹190 (card paper)
    What is the profit (in ₹)?
37. 37.True or false: “payment for a cake order” is income (money in). (a) False (b) True
38. 38.Vihaan’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹40 (sugar)
    Expense: ₹140 (stall fee)
    What is the profit (in ₹)?
39. 39.Rohan’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹40 (paper cups)
    Expense: ₹70 (stall fee)
    How much is the loss (in ₹)?
40. 40.Joseph’s income was ₹240 and the profit was ₹50. One expense was ₹100 (paper cups). How much was the other expense, for transport (in ₹)?

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