Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 108 · 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.📊 Revenue or profit: left after all costs? (a) profit (b) revenue
2. 2.Which of these is true of a company? (a) one owner runs it (b) owners’ risk is limited (c) simplest to start (d) owner keeps all profit
3. 3.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
4. 4.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
5. 5.A small business sells 28 fruit cups at ₹35 each. What is its revenue (in ₹)?
6. 6.Which of these is true of a company? (a) simplest to start (b) one owner runs it (c) owned by shareholders (d) owner keeps all profit
7. 7.Which of these is true of a company? (a) owner keeps all profit (b) one owner runs it (c) owner owes the debts (d) run by directors
8. 8.A small business sells 15 clay diyas at ₹10 each. What is its revenue (in ₹)?
9. 9.A small business sells 53 handmade cards at ₹35 each. What is its revenue (in ₹)?
10. 10.Which of these is true of a sole trader? (a) owned by shareholders (b) a separate legal body (c) simplest to start (d) run by directors
11. 11.A small business selling cupcakes had a revenue of ₹430 and a profit of ₹150. What were its costs (in ₹)?
12. 12.🏢 A company is owned by… (a) the government always (b) its customers (c) its suppliers (d) its shareholders
13. 13.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
14. 14.Which of these is true of a sole trader? (a) owned by shareholders (b) run by directors (c) a separate legal body (d) one owner runs it
15. 15.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
16. 16.A small business selling potted plants had a revenue of ₹600 and a profit of ₹100. What were its costs (in ₹)?
17. 17.👤 A sole trader is… (a) a bank (b) a one-owner business (c) a big company (d) a school club
18. 18.🏢 Sole trader or company: owned by shareholders? (a) a company (b) a sole trader
19. 19.A small business sells 14 potted plants at ₹25 each. Its costs are ₹130. What is its profit (in ₹)?
20. 20.True or false: “run by directors” is true of a sole trader. (a) True (b) False
21. 21.True or false: “one owner runs it” is true of a sole trader. (a) False (b) True
22. 22.🎂 Can a 14-year-old run a business on their own? (a) never ever (b) only with adult help (c) only at night (d) yes, no one needed
23. 23.A small business sells 26 friendship bands at ₹45 each. What is its revenue (in ₹)?
24. 24.📜 Who should explain tax or legal rules for a business? (a) a classmate (b) nobody (c) a random video (d) an adult or an expert
25. 25.A small business selling jute bags had a revenue of ₹480 and a profit of ₹400. What were its costs (in ₹)?
26. 26.Which of these is true of a sole trader? (a) a separate legal body (b) owned by shareholders (c) run by directors (d) owner keeps all profit
27. 27.A small business sells 10 glasses of chai at ₹50 each. What is its revenue (in ₹)?
28. 28.📊 Revenue minus costs equals… (a) profit (b) revenue (c) stock (d) price
29. 29.A small business selling handmade cards had a revenue of ₹115 and a profit of ₹15. What were its costs (in ₹)?
30. 30.🏢 Sole trader or company: simplest to start? (a) a sole trader (b) a company
31. 31.A small business sells 43 bags of popcorn at ₹5 each. What is its revenue (in ₹)?
32. 32.True or false: “owner keeps all profit” is true of a sole trader. (a) True (b) False
33. 33.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
34. 34.A small business sells 17 potted plants at ₹5 each. Its costs are ₹20. What is its profit (in ₹)?
35. 35.A small business selling paper bookmarks had a revenue of ₹1330 and a profit of ₹1030. What were its costs (in ₹)?
36. 36.📊 Revenue or profit: money in before costs? (a) revenue (b) profit
37. 37.A small business sells 51 fruit cups at ₹5 each. Its costs are ₹170. What is its profit (in ₹)?
38. 38.A small business sells 12 glasses of chai at ₹15 each. What is its revenue (in ₹)?
39. 39.A small business sells 50 friendship bands at ₹50 each. What is its revenue (in ₹)?
40. 40.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader

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