Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 832 · 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.True or false: “money from sales” is an expense (money out). (a) True (b) False
2. 2.True or false: “payment for a cake order” is an expense (money out). (a) False (b) True
3. 3.Ishaan’s record for a rainy day:
   Income: ₹60 (sales)
   Expense: ₹10 (lemons)
   Expense: ₹140 (paper cups)
   How much is the loss (in ₹)?
4. 4.📒 Income or expense: tutoring fees received? (a) income (b) expense
5. 5.Which of these is income (money in)? (a) paying the stall fee (b) tutoring fees received (c) buying lemons (d) bus fare to the market
6. 6.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
7. 7.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
8. 8.Rohan’s stall took in ₹220 on Friday, ₹390 on Saturday and ₹60 on Sunday. What was the total income (in ₹)?
9. 9.True or false: “payment for a cake order” is income (money in). (a) False (b) True
10. 10.Which of these is an expense (money out)? (a) tutoring fees received (b) printing posters (c) a card order paid (d) payment for a cake order
11. 11.📒 Income or expense: printing posters? (a) income (b) expense
12. 12.Gurpreet’s record for the day:
    Income: ₹440 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹150 (card paper)
    Expense: ₹110 (transport)
    What is the profit (in ₹)?
13. 13.📒 Income or expense: money from sales? (a) income (b) expense
14. 14.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
15. 15.Riya’s income was ₹490 and the profit was ₹270. One expense was ₹50 (ribbon). How much was the other expense, for stall fee (in ₹)?
16. 16.Dev’s record for a rainy day:
    Income: ₹240 (sales)
    Expense: ₹90 (sugar)
    Expense: ₹180 (posters)
    How much is the loss (in ₹)?
17. 17.Meera’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹90 (posters)
    Expense: ₹240 (ribbon)
    How much is the loss (in ₹)?
18. 18.Dev’s stall took in ₹390 on Friday, ₹290 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
19. 19.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
20. 20.True or false: “paying the stall fee” is income (money in). (a) True (b) False
21. 21.True or false: “money from sales” is income (money in). (a) False (b) True
22. 22.📒 Income or expense: bus fare to the market? (a) income (b) expense
23. 23.True or false: “cash from selling plants” is income (money in). (a) False (b) True
24. 24.Aarav’s record for the day:
    Income: ₹280 (morning sales)
    Income: ₹160 (evening sales)
    Expense: ₹130 (posters)
    Expense: ₹170 (lemons)
    What is the profit (in ₹)?
25. 25.Aarav’s stall took in ₹250 on Friday, ₹90 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
26. 26.Joseph’s stall took in ₹70 on Friday, ₹360 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
27. 27.Arjun’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹60 (stall fee)
    Expense: ₹90 (ribbon)
    How much is the loss (in ₹)?
28. 28.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) the bill or receipt (d) a selfie
29. 29.📒 Income or expense: paying the stall fee? (a) expense (b) income
30. 30.📒 Income or expense: buying paper cups? (a) income (b) expense
31. 31.Aarav’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹430 (evening sales)
    Expense: ₹160 (stall fee)
    Expense: ₹90 (ribbon)
    What is the profit (in ₹)?
32. 32.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) never (d) once a year
33. 33.Riya’s record for the day:
    Income: ₹250 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹70 (stall fee)
    Expense: ₹180 (posters)
    What is the profit (in ₹)?
34. 34.Kavya’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹20 (stall fee)
    Expense: ₹30 (ribbon)
    What is the profit (in ₹)?
35. 35.Meera’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹210 (sugar)
    Expense: ₹80 (paper cups)
    How much is the loss (in ₹)?
36. 36.📒 Why write down every sale and cost? (a) to know the real profit (b) to look busy (c) no reason (d) to fill a notebook
37. 37.Gurpreet’s record for a rainy day:
    Income: ₹220 (sales)
    Expense: ₹180 (paper cups)
    Expense: ₹90 (ribbon)
    How much is the loss (in ₹)?
38. 38.📒 Income or expense: payment for a cake order? (a) income (b) expense
39. 39.Farhan’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹120 (sugar)
    Expense: ₹30 (card paper)
    What is the profit (in ₹)?
40. 40.Farhan’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹250 (stall fee)
    Expense: ₹60 (ribbon)
    How much is the loss (in ₹)?

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