Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 107 · 40 questions

Business tip (Revenue in, profit left): Sole trader: one owner, keeps all the profit, owes the debts, simplest to start. Company: a separate legal body, owned by shareholders, run by directors, owners’ risk limited. Revenue = price × number sold. Profit = revenue − costs, so costs = revenue − profit. Teens run a business with adult help; tax and legal questions go to an adult or an expert.

1. 1.A small business selling glasses of chai had a revenue of ₹810 and a profit of ₹800. What were its costs (in ₹)?
2. 2.A small business sells 48 glasses of chai at ₹10 each. What is its revenue (in ₹)?
3. 3.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
4. 4.Which of these is true of a sole trader? (a) owned by shareholders (b) owner keeps all profit (c) a separate legal body (d) owners’ risk is limited
5. 5.📜 Who should explain tax or legal rules for a business? (a) a random video (b) a classmate (c) nobody (d) an adult or an expert
6. 6.A small business sells 14 fruit cups at ₹20 each. Its costs are ₹160. What is its profit (in ₹)?
7. 7.A small business sells 21 bags of popcorn at ₹35 each. Its costs are ₹490. What is its profit (in ₹)?
8. 8.🏢 Sole trader or company: simplest to start? (a) a company (b) a sole trader
9. 9.True or false: “run by directors” is true of a company. (a) True (b) False
10. 10.True or false: “owner owes the debts” is true of a company. (a) False (b) True
11. 11.A small business sells 34 clay diyas at ₹40 each. What is its revenue (in ₹)?
12. 12.A small business sells 22 handmade cards at ₹35 each. What is its revenue (in ₹)?
13. 13.A small business sells 11 friendship bands at ₹5 each. What is its revenue (in ₹)?
14. 14.Which of these is true of a sole trader? (a) owners’ risk is limited (b) simplest to start (c) run by directors (d) a separate legal body
15. 15.Which of these is true of a sole trader? (a) owned by shareholders (b) owner owes the debts (c) a separate legal body (d) owners’ risk is limited
16. 16.Which of these is true of a company? (a) owner keeps all profit (b) simplest to start (c) run by directors (d) owner owes the debts
17. 17.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
18. 18.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
19. 19.A small business sells 16 cups of lemonade at ₹5 each. Its costs are ₹10. What is its profit (in ₹)?
20. 20.🏢 Sole trader or company: owned by shareholders? (a) a company (b) a sole trader
21. 21.A small business sells 44 paper bookmarks at ₹5 each. Its costs are ₹180. What is its profit (in ₹)?
22. 22.A small business selling cupcakes had a revenue of ₹2475 and a profit of ₹2145. What were its costs (in ₹)?
23. 23.True or false: “simplest to start” is true of a company. (a) False (b) True
24. 24.True or false: “a separate legal body” is true of a sole trader. (a) True (b) False
25. 25.A small business sells 12 bags of popcorn at ₹5 each. What is its revenue (in ₹)?
26. 26.A small business sells 47 paper bookmarks at ₹45 each. Its costs are ₹530. What is its profit (in ₹)?
27. 27.Which of these is true of a company? (a) owner owes the debts (b) owner keeps all profit (c) owners’ risk is limited (d) one owner runs it
28. 28.👤 A sole trader is… (a) a bank (b) a one-owner business (c) a big company (d) a school club
29. 29.Which of these is true of a sole trader? (a) owners’ risk is limited (b) one owner runs it (c) owned by shareholders (d) run by directors
30. 30.A small business sells 58 glasses of chai at ₹35 each. Its costs are ₹730. What is its profit (in ₹)?
31. 31.A small business selling cups of lemonade had a revenue of ₹2250 and a profit of ₹1870. What were its costs (in ₹)?
32. 32.A small business sells 55 clay diyas at ₹20 each. What is its revenue (in ₹)?
33. 33.A small business sells 22 paper bookmarks at ₹5 each. What is its revenue (in ₹)?
34. 34.A small business sells 50 jute bags at ₹10 each. Its costs are ₹50. What is its profit (in ₹)?
35. 35.A small business selling cups of lemonade had a revenue of ₹595 and a profit of ₹235. What were its costs (in ₹)?
36. 36.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
37. 37.🏢 A company is owned by… (a) the government always (b) its suppliers (c) its customers (d) its shareholders
38. 38.A small business sells 55 painted pebbles at ₹5 each. Its costs are ₹70. What is its profit (in ₹)?
39. 39.True or false: “one owner runs it” is true of a sole trader. (a) False (b) True
40. 40.A small business sells 38 fruit cups at ₹45 each. What is its revenue (in ₹)?

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