Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 915 · 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: ₹110 (sales)
   Expense: ₹40 (sugar)
   Expense: ₹100 (stall fee)
   How much is the loss (in ₹)?
2. 2.True or false: “bus fare to the market” is an expense (money out). (a) False (b) True
3. 3.Nisha’s record for the day:
   Income: ₹50 (morning sales)
   Income: ₹220 (evening sales)
   Expense: ₹70 (paper cups)
   Expense: ₹160 (ribbon)
   What is the profit (in ₹)?
4. 4.Aarav’s income was ₹280 and the profit was ₹40. One expense was ₹60 (posters). How much was the other expense, for sugar (in ₹)?
5. 5.Ananya’s income was ₹120 and the profit was ₹40. One expense was ₹60 (ribbon). How much was the other expense, for paper cups (in ₹)?
6. 6.🧾 What should you keep after buying supplies? (a) a selfie (b) only the bag (c) the bill or receipt (d) nothing
7. 7.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) payment for a cake order (d) buying lemons
8. 8.True or false: “tutoring fees received” is an expense (money out). (a) True (b) False
9. 9.📅 When is the best time to update your records? (a) the same day (b) whenever you like (c) once a year (d) never
10. 10.Farhan’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹200 (evening sales)
    Expense: ₹40 (paper cups)
    Expense: ₹90 (lemons)
    What is the profit (in ₹)?
11. 11.Which of these is income (money in)? (a) payment for a cake order (b) bus fare to the market (c) paying the stall fee (d) buying lemons
12. 12.Which of these is income (money in)? (a) buying lemons (b) bus fare to the market (c) paying the stall fee (d) tutoring fees received
13. 13.Which of these is income (money in)? (a) bus fare to the market (b) buying paper cups (c) cash from selling plants (d) printing posters
14. 14.Diya’s stall took in ₹220 on Friday, ₹190 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
15. 15.📒 Income or expense: buying paper cups? (a) expense (b) income
16. 16.True or false: “paying the stall fee” is income (money in). (a) False (b) True
17. 17.Diya’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹20 (stall fee)
    Expense: ₹90 (sugar)
    How much is the loss (in ₹)?
18. 18.📒 Income or expense: a card order paid? (a) expense (b) income
19. 19.True or false: “a card order paid” is an expense (money out). (a) True (b) False
20. 20.Zoya’s record for the day:
    Income: ₹100 (morning sales)
    Income: ₹350 (evening sales)
    Expense: ₹180 (paper cups)
    Expense: ₹50 (sugar)
    What is the profit (in ₹)?
21. 21.Ishaan’s income was ₹440 and the profit was ₹210. One expense was ₹80 (stall fee). How much was the other expense, for paper cups (in ₹)?
22. 22.Which of these is an expense (money out)? (a) printing posters (b) tutoring fees received (c) cash from selling plants (d) a card order paid
23. 23.Nisha’s income was ₹280 and the profit was ₹140. One expense was ₹100 (lemons). How much was the other expense, for stall fee (in ₹)?
24. 24.True or false: “printing posters” is an expense (money out). (a) False (b) True
25. 25.📒 Income or expense: tutoring fees received? (a) expense (b) income
26. 26.Rohan’s stall took in ₹160 on Friday, ₹190 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
27. 27.True or false: “buying paper cups” is income (money in). (a) False (b) True
28. 28.➖ Profit in your records = (a) income + expenses (b) just the income (c) expenses − income (d) income − expenses
29. 29.Saanvi’s stall took in ₹120 on Friday, ₹110 on Saturday and ₹140 on Sunday. What was the total income (in ₹)?
30. 30.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) money from sales (d) paying the stall fee
31. 31.Vihaan’s record for the day:
    Income: ₹80 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹80 (stall fee)
    Expense: ₹40 (lemons)
    What is the profit (in ₹)?
32. 32.True or false: “buying lemons” is an expense (money out). (a) True (b) False
33. 33.📒 Income or expense: paying the stall fee? (a) income (b) expense
34. 34.Tara’s income was ₹250 and the profit was ₹150. One expense was ₹80 (card paper). How much was the other expense, for stall fee (in ₹)?
35. 35.Ananya’s income was ₹330 and the profit was ₹50. One expense was ₹250 (lemons). How much was the other expense, for transport (in ₹)?
36. 36.Lakshmi’s income was ₹440 and the profit was ₹170. One expense was ₹80 (paper cups). How much was the other expense, for sugar (in ₹)?
37. 37.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) bus fare to the market (d) a card order paid
38. 38.Nisha’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹150 (stall fee)
    Expense: ₹50 (transport)
    What is the profit (in ₹)?
39. 39.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
40. 40.Tara’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹110 (paper cups)
    Expense: ₹30 (posters)
    How much is the loss (in ₹)?

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