Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 895 · 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) only the bag (b) a selfie (c) the bill or receipt (d) nothing
2. 2.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) cash from selling plants (d) printing posters
3. 3.Ishaan’s stall took in ₹140 on Friday, ₹400 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
4. 4.📒 Why write down every sale and cost? (a) no reason (b) to fill a notebook (c) to know the real profit (d) to look busy
5. 5.Saanvi’s income was ₹350 and the profit was ₹320. One expense was ₹20 (posters). How much was the other expense, for stall fee (in ₹)?
6. 6.Meera’s income was ₹110 and the profit was ₹50. One expense was ₹10 (posters). How much was the other expense, for card paper (in ₹)?
7. 7.Joseph’s stall took in ₹120 on Friday, ₹350 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
8. 8.📒 Income or expense: printing posters? (a) expense (b) income
9. 9.Gurpreet’s record for the day:
   Income: ₹170 (morning sales)
   Income: ₹180 (evening sales)
   Expense: ₹140 (card paper)
   Expense: ₹160 (paper cups)
   What is the profit (in ₹)?
10. 10.True or false: “money from sales” is an expense (money out). (a) False (b) True
11. 11.Which of these is income (money in)? (a) payment for a cake order (b) bus fare to the market (c) buying lemons (d) paying the stall fee
12. 12.➖ Profit in your records = (a) income + expenses (b) expenses − income (c) just the income (d) income − expenses
13. 13.Farhan’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹50 (card paper)
    Expense: ₹170 (paper cups)
    How much is the loss (in ₹)?
14. 14.Aarav’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹230 (posters)
    Expense: ₹70 (stall fee)
    How much is the loss (in ₹)?
15. 15.Which of these is an expense (money out)? (a) a card order paid (b) money from sales (c) buying lemons (d) tutoring fees received
16. 16.Meera’s stall took in ₹160 on Friday, ₹230 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
17. 17.Joseph’s income was ₹320 and the profit was ₹10. One expense was ₹150 (lemons). How much was the other expense, for card paper (in ₹)?
18. 18.Arjun’s income was ₹240 and the profit was ₹180. One expense was ₹30 (ribbon). How much was the other expense, for posters (in ₹)?
19. 19.Saanvi’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹70 (stall fee)
    Expense: ₹160 (lemons)
    How much is the loss (in ₹)?
20. 20.📒 Income or expense: a card order paid? (a) income (b) expense
21. 21.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
22. 22.📒 Income or expense: cash from selling plants? (a) expense (b) income
23. 23.Vihaan’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹220 (paper cups)
    Expense: ₹150 (card paper)
    How much is the loss (in ₹)?
24. 24.Saanvi’s record for a rainy day:
    Income: ₹100 (sales)
    Expense: ₹110 (transport)
    Expense: ₹70 (lemons)
    How much is the loss (in ₹)?
25. 25.Gurpreet’s income was ₹410 and the profit was ₹60. One expense was ₹70 (lemons). How much was the other expense, for transport (in ₹)?
26. 26.Dev’s stall took in ₹150 on Friday, ₹70 on Saturday and ₹280 on Sunday. What was the total income (in ₹)?
27. 27.Kabir’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹110 (card paper)
    Expense: ₹20 (sugar)
    What is the profit (in ₹)?
28. 28.Joseph’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹40 (lemons)
    Expense: ₹40 (transport)
    What is the profit (in ₹)?
29. 29.Gurpreet’s record for a rainy day:
    Income: ₹110 (sales)
    Expense: ₹130 (paper cups)
    Expense: ₹50 (lemons)
    How much is the loss (in ₹)?
30. 30.📒 Income or expense: buying lemons? (a) income (b) expense
31. 31.True or false: “cash from selling plants” is income (money in). (a) False (b) True
32. 32.Joseph’s record for the day:
    Income: ₹260 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹90 (ribbon)
    Expense: ₹70 (stall fee)
    What is the profit (in ₹)?
33. 33.Kabir’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹270 (card paper)
    Expense: ₹70 (stall fee)
    How much is the loss (in ₹)?
34. 34.Farhan’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹60 (lemons)
    Expense: ₹30 (posters)
    What is the profit (in ₹)?
35. 35.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
36. 36.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) paying the stall fee (d) tutoring fees received
37. 37.📅 When is the best time to update your records? (a) once a year (b) never (c) whenever you like (d) the same day
38. 38.Aarav’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹150 (lemons)
    Expense: ₹40 (posters)
    How much is the loss (in ₹)?
39. 39.Rohan’s income was ₹310 and the profit was ₹210. One expense was ₹90 (transport). How much was the other expense, for ribbon (in ₹)?
40. 40.📒 Income or expense: paying the stall fee? (a) expense (b) income

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