Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 829 · 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) nothing (b) only the bag (c) the bill or receipt (d) a selfie
2. 2.Kavya’s income was ₹100 and the profit was ₹80. One expense was ₹10 (paper cups). How much was the other expense, for stall fee (in ₹)?
3. 3.📒 Income or expense: a card order paid? (a) income (b) expense
4. 4.Vihaan’s record for a rainy day:
   Income: ₹220 (sales)
   Expense: ₹230 (card paper)
   Expense: ₹30 (sugar)
   How much is the loss (in ₹)?
5. 5.📒 Income or expense: tutoring fees received? (a) expense (b) income
6. 6.Diya’s record for a rainy day:
   Income: ₹80 (sales)
   Expense: ₹50 (sugar)
   Expense: ₹40 (paper cups)
   How much is the loss (in ₹)?
7. 7.📒 Income or expense: paying the stall fee? (a) expense (b) income
8. 8.Joseph’s record for the day:
   Income: ₹80 (morning sales)
   Income: ₹290 (evening sales)
   Expense: ₹200 (lemons)
   Expense: ₹110 (paper cups)
   What is the profit (in ₹)?
9. 9.True or false: “money from sales” is income (money in). (a) False (b) True
10. 10.Zoya’s stall took in ₹140 on Friday, ₹70 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
11. 11.Zoya’s stall took in ₹60 on Friday, ₹330 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
12. 12.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
13. 13.Which of these is income (money in)? (a) money from sales (b) bus fare to the market (c) buying lemons (d) buying paper cups
14. 14.➖ Profit in your records = (a) just the income (b) expenses − income (c) income + expenses (d) income − expenses
15. 15.True or false: “buying lemons” is an expense (money out). (a) False (b) True
16. 16.True or false: “money from sales” is an expense (money out). (a) False (b) True
17. 17.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
18. 18.📒 Income or expense: payment for a cake order? (a) expense (b) income
19. 19.Riya’s income was ₹210 and the profit was ₹40. One expense was ₹100 (ribbon). How much was the other expense, for transport (in ₹)?
20. 20.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) payment for a cake order (d) bus fare to the market
21. 21.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
22. 22.Dev’s income was ₹200 and the profit was ₹30. One expense was ₹50 (lemons). How much was the other expense, for card paper (in ₹)?
23. 23.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) buying paper cups (d) tutoring fees received
24. 24.Diya’s stall took in ₹290 on Friday, ₹180 on Saturday and ₹270 on Sunday. What was the total income (in ₹)?
25. 25.Saanvi’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹50 (paper cups)
    Expense: ₹70 (lemons)
    What is the profit (in ₹)?
26. 26.Kavya’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹260 (paper cups)
    Expense: ₹80 (sugar)
    How much is the loss (in ₹)?
27. 27.📒 Income or expense: buying lemons? (a) income (b) expense
28. 28.Which of these is an expense (money out)? (a) bus fare to the market (b) payment for a cake order (c) cash from selling plants (d) a card order paid
29. 29.Ishaan’s income was ₹460 and the profit was ₹270. One expense was ₹30 (transport). How much was the other expense, for lemons (in ₹)?
30. 30.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to know the real profit (d) to fill a notebook
31. 31.Lakshmi’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹180 (posters)
    Expense: ₹130 (paper cups)
    What is the profit (in ₹)?
32. 32.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
33. 33.📒 Income or expense: buying paper cups? (a) income (b) expense
34. 34.Meera’s stall took in ₹390 on Friday, ₹80 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
35. 35.Which of these is income (money in)? (a) cash from selling plants (b) printing posters (c) bus fare to the market (d) buying paper cups
36. 36.True or false: “buying paper cups” is income (money in). (a) False (b) True
37. 37.Gurpreet’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹280 (evening sales)
    Expense: ₹80 (card paper)
    Expense: ₹20 (stall fee)
    What is the profit (in ₹)?
38. 38.Dev’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹260 (evening sales)
    Expense: ₹80 (paper cups)
    Expense: ₹60 (lemons)
    What is the profit (in ₹)?
39. 39.Vihaan’s stall took in ₹270 on Friday, ₹320 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
40. 40.📅 When is the best time to update your records? (a) the same day (b) never (c) whenever you like (d) once a year

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