Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 977 · 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.📅 When is the best time to update your records? (a) whenever you like (b) the same day (c) once a year (d) never
2. 2.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to fill a notebook (d) to know the real profit
3. 3.Which of these is an expense (money out)? (a) bus fare to the market (b) cash from selling plants (c) payment for a cake order (d) money from sales
4. 4.Joseph’s stall took in ₹170 on Friday, ₹90 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
5. 5.Tara’s record for a rainy day:
   Income: ₹250 (sales)
   Expense: ₹50 (paper cups)
   Expense: ₹300 (transport)
   How much is the loss (in ₹)?
6. 6.Kabir’s record for the day:
   Income: ₹280 (morning sales)
   Income: ₹100 (evening sales)
   Expense: ₹130 (paper cups)
   Expense: ₹180 (lemons)
   What is the profit (in ₹)?
7. 7.Ananya’s stall took in ₹350 on Friday, ₹60 on Saturday and ₹260 on Sunday. What was the total income (in ₹)?
8. 8.📒 Income or expense: a card order paid? (a) expense (b) income
9. 9.Kabir’s record for a rainy day:
   Income: ₹80 (sales)
   Expense: ₹10 (paper cups)
   Expense: ₹130 (lemons)
   How much is the loss (in ₹)?
10. 10.Which of these is an expense (money out)? (a) cash from selling plants (b) payment for a cake order (c) a card order paid (d) buying paper cups
11. 11.📒 Income or expense: payment for a cake order? (a) income (b) expense
12. 12.Gurpreet’s stall took in ₹170 on Friday, ₹350 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
13. 13.Kavya’s stall took in ₹270 on Friday, ₹320 on Saturday and ₹180 on Sunday. What was the total income (in ₹)?
14. 14.Gurpreet’s record for the day:
    Income: ₹320 (morning sales)
    Income: ₹70 (evening sales)
    Expense: ₹160 (posters)
    Expense: ₹120 (lemons)
    What is the profit (in ₹)?
15. 15.➖ Profit in your records = (a) just the income (b) income + expenses (c) expenses − income (d) income − expenses
16. 16.Joseph’s record for the day:
    Income: ₹380 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹160 (card paper)
    Expense: ₹50 (posters)
    What is the profit (in ₹)?
17. 17.Ishaan’s record for a rainy day:
    Income: ₹90 (sales)
    Expense: ₹80 (posters)
    Expense: ₹20 (paper cups)
    How much is the loss (in ₹)?
18. 18.Saanvi’s income was ₹360 and the profit was ₹230. One expense was ₹110 (card paper). How much was the other expense, for lemons (in ₹)?
19. 19.Dev’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹10 (evening sales)
    Expense: ₹30 (sugar)
    Expense: ₹90 (card paper)
    What is the profit (in ₹)?
20. 20.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) printing posters (d) a card order paid
21. 21.📒 Income or expense: money from sales? (a) expense (b) income
22. 22.Joseph’s record for a rainy day:
    Income: ₹250 (sales)
    Expense: ₹90 (card paper)
    Expense: ₹190 (posters)
    How much is the loss (in ₹)?
23. 23.Tara’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹50 (evening sales)
    Expense: ₹20 (sugar)
    Expense: ₹40 (posters)
    What is the profit (in ₹)?
24. 24.Which of these is income (money in)? (a) tutoring fees received (b) paying the stall fee (c) printing posters (d) buying lemons
25. 25.True or false: “money from sales” is an expense (money out). (a) False (b) True
26. 26.Riya’s record for the day:
    Income: ₹200 (morning sales)
    Income: ₹170 (evening sales)
    Expense: ₹50 (ribbon)
    Expense: ₹110 (paper cups)
    What is the profit (in ₹)?
27. 27.📒 Income or expense: cash from selling plants? (a) income (b) expense
28. 28.Dev’s record for a rainy day:
    Income: ₹60 (sales)
    Expense: ₹80 (sugar)
    Expense: ₹60 (transport)
    How much is the loss (in ₹)?
29. 29.True or false: “buying paper cups” is income (money in). (a) False (b) True
30. 30.📒 Income or expense: tutoring fees received? (a) expense (b) income
31. 31.Lakshmi’s income was ₹460 and the profit was ₹300. One expense was ₹120 (transport). How much was the other expense, for paper cups (in ₹)?
32. 32.Farhan’s income was ₹490 and the profit was ₹50. One expense was ₹390 (lemons). How much was the other expense, for paper cups (in ₹)?
33. 33.True or false: “printing posters” is an expense (money out). (a) False (b) True
34. 34.True or false: “payment for a cake order” is income (money in). (a) False (b) True
35. 35.Arjun’s record for the day:
    Income: ₹130 (morning sales)
    Income: ₹370 (evening sales)
    Expense: ₹40 (paper cups)
    Expense: ₹160 (stall fee)
    What is the profit (in ₹)?
36. 36.Ananya’s record for the day:
    Income: ₹50 (morning sales)
    Income: ₹310 (evening sales)
    Expense: ₹90 (lemons)
    Expense: ₹100 (stall fee)
    What is the profit (in ₹)?
37. 37.True or false: “cash from selling plants” is an expense (money out). (a) True (b) False
38. 38.Saanvi’s income was ₹390 and the profit was ₹10. One expense was ₹180 (transport). How much was the other expense, for sugar (in ₹)?
39. 39.Dev’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹130 (transport)
    Expense: ₹50 (sugar)
    How much is the loss (in ₹)?
40. 40.True or false: “buying lemons” is income (money in). (a) False (b) True

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