Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 854 · 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.Zoya’s record for a rainy day:
   Income: ₹80 (sales)
   Expense: ₹110 (posters)
   Expense: ₹40 (paper cups)
   How much is the loss (in ₹)?
2. 2.Ishaan’s income was ₹110 and the profit was ₹40. One expense was ₹40 (sugar). How much was the other expense, for lemons (in ₹)?
3. 3.Arjun’s record for a rainy day:
   Income: ₹170 (sales)
   Expense: ₹190 (lemons)
   Expense: ₹40 (paper cups)
   How much is the loss (in ₹)?
4. 4.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to look busy (d) to know the real profit
5. 5.Which of these is an expense (money out)? (a) money from sales (b) a card order paid (c) cash from selling plants (d) printing posters
6. 6.True or false: “cash from selling plants” is income (money in). (a) False (b) True
7. 7.➖ Profit in your records = (a) just the income (b) income + expenses (c) expenses − income (d) income − expenses
8. 8.Kabir’s income was ₹320 and the profit was ₹120. One expense was ₹30 (ribbon). How much was the other expense, for stall fee (in ₹)?
9. 9.Tara’s record for the day:
   Income: ₹140 (morning sales)
   Income: ₹210 (evening sales)
   Expense: ₹200 (card paper)
   Expense: ₹70 (sugar)
   What is the profit (in ₹)?
10. 10.Aarav’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹150 (lemons)
    Expense: ₹20 (ribbon)
    How much is the loss (in ₹)?
11. 11.📒 Income or expense: paying the stall fee? (a) expense (b) income
12. 12.Aarav’s income was ₹250 and the profit was ₹120. One expense was ₹100 (lemons). How much was the other expense, for sugar (in ₹)?
13. 13.📒 Income or expense: money from sales? (a) income (b) expense
14. 14.Aarav’s record for the day:
    Income: ₹120 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹30 (paper cups)
    Expense: ₹60 (stall fee)
    What is the profit (in ₹)?
15. 15.True or false: “a card order paid” is income (money in). (a) True (b) False
16. 16.📅 When is the best time to update your records? (a) the same day (b) once a year (c) never (d) whenever you like
17. 17.True or false: “paying the stall fee” is income (money in). (a) False (b) True
18. 18.📒 Income or expense: bus fare to the market? (a) income (b) expense
19. 19.True or false: “printing posters” is income (money in). (a) True (b) False
20. 20.Rohan’s income was ₹220 and the profit was ₹40. One expense was ₹90 (sugar). How much was the other expense, for posters (in ₹)?
21. 21.True or false: “buying paper cups” is an expense (money out). (a) True (b) False
22. 22.📒 Income or expense: printing posters? (a) expense (b) income
23. 23.Rohan’s income was ₹210 and the profit was ₹100. One expense was ₹100 (paper cups). How much was the other expense, for transport (in ₹)?
24. 24.Gurpreet’s stall took in ₹300 on Friday, ₹70 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
25. 25.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) the bill or receipt (d) only the bag
26. 26.Kabir’s record for a rainy day:
    Income: ₹280 (sales)
    Expense: ₹180 (posters)
    Expense: ₹140 (transport)
    How much is the loss (in ₹)?
27. 27.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) money from sales (d) paying the stall fee
28. 28.Which of these is income (money in)? (a) payment for a cake order (b) printing posters (c) buying lemons (d) buying paper cups
29. 29.Ananya’s record for the day:
    Income: ₹220 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹120 (card paper)
    Expense: ₹200 (posters)
    What is the profit (in ₹)?
30. 30.Tara’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹140 (ribbon)
    Expense: ₹100 (card paper)
    What is the profit (in ₹)?
31. 31.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) money from sales (d) bus fare to the market
32. 32.True or false: “money from sales” is an expense (money out). (a) False (b) True
33. 33.Saanvi’s record for the day:
    Income: ₹340 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹180 (lemons)
    Expense: ₹50 (transport)
    What is the profit (in ₹)?
34. 34.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) tutoring fees received (d) paying the stall fee
35. 35.Rohan’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹70 (lemons)
    Expense: ₹150 (ribbon)
    What is the profit (in ₹)?
36. 36.Tara’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹130 (ribbon)
    Expense: ₹140 (posters)
    How much is the loss (in ₹)?
37. 37.📒 Income or expense: tutoring fees received? (a) income (b) expense
38. 38.Zoya’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹80 (posters)
    Expense: ₹160 (lemons)
    How much is the loss (in ₹)?
39. 39.Kavya’s record for the day:
    Income: ₹350 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹60 (card paper)
    Expense: ₹60 (lemons)
    What is the profit (in ₹)?
40. 40.Which of these is income (money in)? (a) buying lemons (b) cash from selling plants (c) printing posters (d) bus fare to the market

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