Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 991 · 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) the bill or receipt (b) only the bag (c) nothing (d) a selfie
2. 2.Dev’s stall took in ₹190 on Friday, ₹160 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
3. 3.Ananya’s stall took in ₹250 on Friday, ₹160 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
4. 4.Dev’s record for the day:
   Income: ₹390 (morning sales)
   Income: ₹150 (evening sales)
   Expense: ₹90 (transport)
   Expense: ₹190 (ribbon)
   What is the profit (in ₹)?
5. 5.Which of these is an expense (money out)? (a) a card order paid (b) payment for a cake order (c) tutoring fees received (d) printing posters
6. 6.Arjun’s record for a rainy day:
   Income: ₹50 (sales)
   Expense: ₹120 (stall fee)
   Expense: ₹10 (paper cups)
   How much is the loss (in ₹)?
7. 7.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) paying the stall fee (d) payment for a cake order
8. 8.Ishaan’s record for the day:
   Income: ₹320 (morning sales)
   Income: ₹10 (evening sales)
   Expense: ₹140 (posters)
   Expense: ₹70 (card paper)
   What is the profit (in ₹)?
9. 9.Farhan’s income was ₹190 and the profit was ₹40. One expense was ₹20 (sugar). How much was the other expense, for ribbon (in ₹)?
10. 10.Rohan’s stall took in ₹210 on Friday, ₹110 on Saturday and ₹70 on Sunday. What was the total income (in ₹)?
11. 11.True or false: “printing posters” is income (money in). (a) True (b) False
12. 12.📅 When is the best time to update your records? (a) whenever you like (b) never (c) once a year (d) the same day
13. 13.📒 Income or expense: buying lemons? (a) income (b) expense
14. 14.Rohan’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹230 (evening sales)
    Expense: ₹30 (stall fee)
    Expense: ₹130 (paper cups)
    What is the profit (in ₹)?
15. 15.Diya’s income was ₹410 and the profit was ₹310. One expense was ₹40 (ribbon). How much was the other expense, for posters (in ₹)?
16. 16.Kabir’s income was ₹380 and the profit was ₹210. One expense was ₹90 (card paper). How much was the other expense, for paper cups (in ₹)?
17. 17.➖ Profit in your records = (a) just the income (b) income + expenses (c) income − expenses (d) expenses − income
18. 18.Which of these is an expense (money out)? (a) tutoring fees received (b) money from sales (c) payment for a cake order (d) paying the stall fee
19. 19.Which of these is income (money in)? (a) money from sales (b) paying the stall fee (c) bus fare to the market (d) buying lemons
20. 20.Dev’s income was ₹180 and the profit was ₹80. One expense was ₹90 (stall fee). How much was the other expense, for transport (in ₹)?
21. 21.True or false: “cash from selling plants” is income (money in). (a) True (b) False
22. 22.📒 Income or expense: buying paper cups? (a) expense (b) income
23. 23.📒 Income or expense: tutoring fees received? (a) expense (b) income
24. 24.Kavya’s record for a rainy day:
    Income: ₹270 (sales)
    Expense: ₹150 (posters)
    Expense: ₹220 (paper cups)
    How much is the loss (in ₹)?
25. 25.Kavya’s record for the day:
    Income: ₹210 (morning sales)
    Income: ₹100 (evening sales)
    Expense: ₹130 (transport)
    Expense: ₹60 (posters)
    What is the profit (in ₹)?
26. 26.True or false: “printing posters” is an expense (money out). (a) True (b) False
27. 27.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
28. 28.Saanvi’s record for a rainy day:
    Income: ₹210 (sales)
    Expense: ₹130 (sugar)
    Expense: ₹100 (transport)
    How much is the loss (in ₹)?
29. 29.Lakshmi’s stall took in ₹60 on Friday, ₹320 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
30. 30.Kabir’s record for the day:
    Income: ₹150 (morning sales)
    Income: ₹430 (evening sales)
    Expense: ₹190 (posters)
    Expense: ₹150 (ribbon)
    What is the profit (in ₹)?
31. 31.Which of these is an expense (money out)? (a) money from sales (b) payment for a cake order (c) buying paper cups (d) tutoring fees received
32. 32.True or false: “buying lemons” is income (money in). (a) False (b) True
33. 33.Which of these is an expense (money out)? (a) buying lemons (b) a card order paid (c) tutoring fees received (d) cash from selling plants
34. 34.Which of these is income (money in)? (a) buying lemons (b) cash from selling plants (c) printing posters (d) paying the stall fee
35. 35.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
36. 36.Nisha’s stall took in ₹290 on Friday, ₹330 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
37. 37.True or false: “money from sales” is income (money in). (a) True (b) False
38. 38.Ananya’s record for the day:
    Income: ₹60 (morning sales)
    Income: ₹190 (evening sales)
    Expense: ₹170 (paper cups)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
39. 39.📒 Income or expense: bus fare to the market? (a) income (b) expense
40. 40.Which of these is income (money in)? (a) tutoring fees received (b) bus fare to the market (c) paying the stall fee (d) buying paper cups

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