Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 924 · 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.📒 Income or expense: printing posters? (a) expense (b) income
2. 2.Which of these is income (money in)? (a) printing posters (b) a card order paid (c) bus fare to the market (d) buying lemons
3. 3.True or false: “buying paper cups” is income (money in). (a) True (b) False
4. 4.📒 Why write down every sale and cost? (a) to look busy (b) to fill a notebook (c) no reason (d) to know the real profit
5. 5.Ananya’s record for the day:
   Income: ₹380 (morning sales)
   Income: ₹90 (evening sales)
   Expense: ₹60 (posters)
   Expense: ₹110 (ribbon)
   What is the profit (in ₹)?
6. 6.📒 Income or expense: tutoring fees received? (a) income (b) expense
7. 7.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) money from sales (d) printing posters
8. 8.Dev’s income was ₹390 and the profit was ₹10. One expense was ₹60 (stall fee). How much was the other expense, for posters (in ₹)?
9. 9.📒 Income or expense: paying the stall fee? (a) income (b) expense
10. 10.Joseph’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹170 (card paper)
    Expense: ₹120 (transport)
    How much is the loss (in ₹)?
11. 11.Meera’s stall took in ₹200 on Friday, ₹70 on Saturday and ₹350 on Sunday. What was the total income (in ₹)?
12. 12.Rohan’s income was ₹350 and the profit was ₹310. One expense was ₹10 (transport). How much was the other expense, for paper cups (in ₹)?
13. 13.📒 Income or expense: cash from selling plants? (a) income (b) expense
14. 14.Which of these is an expense (money out)? (a) bus fare to the market (b) payment for a cake order (c) a card order paid (d) money from sales
15. 15.Riya’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹210 (evening sales)
    Expense: ₹30 (card paper)
    Expense: ₹60 (ribbon)
    What is the profit (in ₹)?
16. 16.Riya’s income was ₹200 and the profit was ₹10. One expense was ₹30 (stall fee). How much was the other expense, for paper cups (in ₹)?
17. 17.🧾 What should you keep after buying supplies? (a) a selfie (b) the bill or receipt (c) only the bag (d) nothing
18. 18.📅 When is the best time to update your records? (a) never (b) whenever you like (c) the same day (d) once a year
19. 19.Kavya’s income was ₹310 and the profit was ₹260. One expense was ₹30 (card paper). How much was the other expense, for stall fee (in ₹)?
20. 20.True or false: “a card order paid” is an expense (money out). (a) False (b) True
21. 21.➖ Profit in your records = (a) income + expenses (b) just the income (c) income − expenses (d) expenses − income
22. 22.Dev’s stall took in ₹130 on Friday, ₹340 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
23. 23.Ishaan’s income was ₹120 and the profit was ₹50. One expense was ₹40 (sugar). How much was the other expense, for ribbon (in ₹)?
24. 24.True or false: “printing posters” is an expense (money out). (a) True (b) False
25. 25.Which of these is income (money in)? (a) buying lemons (b) printing posters (c) tutoring fees received (d) bus fare to the market
26. 26.📒 Income or expense: a card order paid? (a) expense (b) income
27. 27.Lakshmi’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹60 (evening sales)
    Expense: ₹80 (ribbon)
    Expense: ₹60 (lemons)
    What is the profit (in ₹)?
28. 28.📒 Income or expense: buying lemons? (a) income (b) expense
29. 29.Riya’s record for the day:
    Income: ₹350 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹50 (transport)
    Expense: ₹160 (paper cups)
    What is the profit (in ₹)?
30. 30.Nisha’s record for the day:
    Income: ₹180 (morning sales)
    Income: ₹330 (evening sales)
    Expense: ₹170 (posters)
    Expense: ₹200 (stall fee)
    What is the profit (in ₹)?
31. 31.Gurpreet’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹30 (sugar)
    Expense: ₹30 (lemons)
    What is the profit (in ₹)?
32. 32.Diya’s record for the day:
    Income: ₹300 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹100 (stall fee)
    Expense: ₹60 (card paper)
    What is the profit (in ₹)?
33. 33.Riya’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹390 (evening sales)
    Expense: ₹150 (lemons)
    Expense: ₹200 (posters)
    What is the profit (in ₹)?
34. 34.True or false: “money from sales” is an expense (money out). (a) False (b) True
35. 35.Gurpreet’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹440 (evening sales)
    Expense: ₹160 (transport)
    Expense: ₹160 (posters)
    What is the profit (in ₹)?
36. 36.Which of these is income (money in)? (a) buying paper cups (b) printing posters (c) cash from selling plants (d) bus fare to the market
37. 37.📒 Income or expense: buying paper cups? (a) income (b) expense
38. 38.True or false: “a card order paid” is income (money in). (a) True (b) False
39. 39.True or false: “payment for a cake order” is an expense (money out). (a) True (b) False
40. 40.Meera’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹130 (stall fee)
    What is the profit (in ₹)?

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