Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 879 · 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: “buying lemons” is income (money in). (a) False (b) True
2. 2.Which of these is income (money in)? (a) paying the stall fee (b) printing posters (c) money from sales (d) buying paper cups
3. 3.➖ Profit in your records = (a) expenses − income (b) income − expenses (c) income + expenses (d) just the income
4. 4.Meera’s record for the day:
   Income: ₹160 (morning sales)
   Income: ₹20 (evening sales)
   Expense: ₹20 (paper cups)
   Expense: ₹100 (ribbon)
   What is the profit (in ₹)?
5. 5.Which of these is an expense (money out)? (a) bus fare to the market (b) a card order paid (c) payment for a cake order (d) cash from selling plants
6. 6.📒 Income or expense: cash from selling plants? (a) expense (b) income
7. 7.Kavya’s record for the day:
   Income: ₹250 (morning sales)
   Income: ₹90 (evening sales)
   Expense: ₹170 (stall fee)
   Expense: ₹60 (sugar)
   What is the profit (in ₹)?
8. 8.Rohan’s stall took in ₹310 on Friday, ₹140 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
9. 9.Vihaan’s stall took in ₹60 on Friday, ₹340 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
10. 10.Joseph’s record for the day:
    Income: ₹110 (morning sales)
    Income: ₹300 (evening sales)
    Expense: ₹50 (sugar)
    Expense: ₹90 (lemons)
    What is the profit (in ₹)?
11. 11.Saanvi’s stall took in ₹360 on Friday, ₹290 on Saturday and ₹360 on Sunday. What was the total income (in ₹)?
12. 12.Riya’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹460 (evening sales)
    Expense: ₹100 (posters)
    Expense: ₹140 (paper cups)
    What is the profit (in ₹)?
13. 13.True or false: “a card order paid” is income (money in). (a) True (b) False
14. 14.True or false: “printing posters” is income (money in). (a) False (b) True
15. 15.True or false: “a card order paid” is an expense (money out). (a) True (b) False
16. 16.📒 Income or expense: bus fare to the market? (a) expense (b) income
17. 17.True or false: “tutoring fees received” is income (money in). (a) False (b) True
18. 18.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
19. 19.True or false: “buying lemons” is an expense (money out). (a) False (b) True
20. 20.True or false: “money from sales” is income (money in). (a) False (b) True
21. 21.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) a selfie (d) nothing
22. 22.Diya’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹60 (card paper)
    Expense: ₹80 (sugar)
    What is the profit (in ₹)?
23. 23.Gurpreet’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹40 (paper cups)
    Expense: ₹90 (posters)
    How much is the loss (in ₹)?
24. 24.📒 Income or expense: paying the stall fee? (a) expense (b) income
25. 25.📅 When is the best time to update your records? (a) the same day (b) never (c) once a year (d) whenever you like
26. 26.Which of these is an expense (money out)? (a) printing posters (b) payment for a cake order (c) money from sales (d) tutoring fees received
27. 27.Zoya’s record for the day:
    Income: ₹240 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹150 (ribbon)
    Expense: ₹140 (posters)
    What is the profit (in ₹)?
28. 28.Ananya’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹130 (ribbon)
    Expense: ₹170 (paper cups)
    What is the profit (in ₹)?
29. 29.📒 Income or expense: buying lemons? (a) income (b) expense
30. 30.📒 Income or expense: tutoring fees received? (a) income (b) expense
31. 31.Meera’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹10 (sugar)
    Expense: ₹210 (ribbon)
    How much is the loss (in ₹)?
32. 32.Farhan’s stall took in ₹110 on Friday, ₹130 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
33. 33.Kavya’s income was ₹330 and the profit was ₹170. One expense was ₹50 (ribbon). How much was the other expense, for lemons (in ₹)?
34. 34.Which of these is an expense (money out)? (a) money from sales (b) buying lemons (c) cash from selling plants (d) tutoring fees received
35. 35.📒 Income or expense: money from sales? (a) income (b) expense
36. 36.Meera’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹110 (sugar)
    What is the profit (in ₹)?
37. 37.Lakshmi’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹40 (stall fee)
    Expense: ₹100 (sugar)
    What is the profit (in ₹)?
38. 38.Joseph’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹30 (evening sales)
    Expense: ₹40 (posters)
    Expense: ₹50 (lemons)
    What is the profit (in ₹)?
39. 39.Arjun’s income was ₹310 and the profit was ₹50. One expense was ₹210 (lemons). How much was the other expense, for transport (in ₹)?
40. 40.Riya’s income was ₹490 and the profit was ₹130. One expense was ₹20 (card paper). How much was the other expense, for posters (in ₹)?

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