Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 950 · 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 paper cups” is income (money in). (a) True (b) False
2. 2.Rohan’s income was ₹140 and the profit was ₹120. One expense was ₹10 (stall fee). How much was the other expense, for transport (in ₹)?
3. 3.📒 Income or expense: cash from selling plants? (a) expense (b) income
4. 4.True or false: “money from sales” is an expense (money out). (a) True (b) False
5. 5.Which of these is an expense (money out)? (a) payment for a cake order (b) money from sales (c) cash from selling plants (d) buying paper cups
6. 6.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) the bill or receipt (d) a selfie
7. 7.Which of these is an expense (money out)? (a) tutoring fees received (b) buying lemons (c) a card order paid (d) money from sales
8. 8.Arjun’s record for the day:
   Income: ₹170 (morning sales)
   Income: ₹470 (evening sales)
   Expense: ₹180 (ribbon)
   Expense: ₹200 (stall fee)
   What is the profit (in ₹)?
9. 9.📒 Income or expense: paying the stall fee? (a) income (b) expense
10. 10.📅 When is the best time to update your records? (a) whenever you like (b) never (c) once a year (d) the same day
11. 11.Kavya’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹30 (lemons)
    Expense: ₹310 (posters)
    How much is the loss (in ₹)?
12. 12.Tara’s record for a rainy day:
    Income: ₹200 (sales)
    Expense: ₹200 (stall fee)
    Expense: ₹50 (card paper)
    How much is the loss (in ₹)?
13. 13.Rohan’s stall took in ₹240 on Friday, ₹120 on Saturday and ₹250 on Sunday. What was the total income (in ₹)?
14. 14.📒 Income or expense: bus fare to the market? (a) income (b) expense
15. 15.True or false: “bus fare to the market” is income (money in). (a) False (b) True
16. 16.Rohan’s stall took in ₹170 on Friday, ₹370 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
17. 17.Gurpreet’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹110 (evening sales)
    Expense: ₹140 (transport)
    Expense: ₹40 (paper cups)
    What is the profit (in ₹)?
18. 18.Ishaan’s income was ₹190 and the profit was ₹30. One expense was ₹150 (lemons). How much was the other expense, for card paper (in ₹)?
19. 19.Kavya’s record for a rainy day:
    Income: ₹160 (sales)
    Expense: ₹210 (stall fee)
    Expense: ₹50 (sugar)
    How much is the loss (in ₹)?
20. 20.➖ Profit in your records = (a) income + expenses (b) income − expenses (c) expenses − income (d) just the income
21. 21.Which of these is an expense (money out)? (a) tutoring fees received (b) a card order paid (c) cash from selling plants (d) bus fare to the market
22. 22.Ishaan’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹150 (card paper)
    Expense: ₹10 (stall fee)
    How much is the loss (in ₹)?
23. 23.📒 Why write down every sale and cost? (a) no reason (b) to know the real profit (c) to fill a notebook (d) to look busy
24. 24.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
25. 25.Which of these is an expense (money out)? (a) cash from selling plants (b) money from sales (c) paying the stall fee (d) payment for a cake order
26. 26.Arjun’s income was ₹300 and the profit was ₹220. One expense was ₹10 (lemons). How much was the other expense, for paper cups (in ₹)?
27. 27.Diya’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹380 (evening sales)
    Expense: ₹200 (sugar)
    Expense: ₹90 (ribbon)
    What is the profit (in ₹)?
28. 28.Aarav’s stall took in ₹130 on Friday, ₹190 on Saturday and ₹100 on Sunday. What was the total income (in ₹)?
29. 29.Ananya’s income was ₹110 and the profit was ₹90. One expense was ₹10 (ribbon). How much was the other expense, for lemons (in ₹)?
30. 30.Riya’s stall took in ₹180 on Friday, ₹250 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
31. 31.Which of these is income (money in)? (a) printing posters (b) paying the stall fee (c) buying paper cups (d) a card order paid
32. 32.📒 Income or expense: buying lemons? (a) income (b) expense
33. 33.Ishaan’s record for the day:
    Income: ₹30 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹30 (sugar)
    Expense: ₹60 (ribbon)
    What is the profit (in ₹)?
34. 34.📒 Income or expense: printing posters? (a) income (b) expense
35. 35.Ananya’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹70 (posters)
    Expense: ₹80 (transport)
    How much is the loss (in ₹)?
36. 36.Ananya’s stall took in ₹200 on Friday, ₹270 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
37. 37.Saanvi’s record for the day:
    Income: ₹40 (morning sales)
    Income: ₹320 (evening sales)
    Expense: ₹120 (stall fee)
    Expense: ₹50 (sugar)
    What is the profit (in ₹)?
38. 38.📒 Income or expense: buying paper cups? (a) expense (b) income
39. 39.Which of these is income (money in)? (a) buying paper cups (b) buying lemons (c) money from sales (d) paying the stall fee
40. 40.Saanvi’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹40 (stall fee)
    Expense: ₹50 (paper cups)
    How much is the loss (in ₹)?

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