Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 114 · 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.A small business sells 36 paper bookmarks at ₹10 each. What is its revenue (in ₹)?
3. 3.📊 Revenue or profit: price × number sold? (a) revenue (b) profit
4. 4.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
5. 5.📊 Revenue or profit: money in before costs? (a) revenue (b) profit
6. 6.A small business sells 54 jute bags at ₹5 each. Its costs are ₹40. What is its profit (in ₹)?
7. 7.A small business sells 49 bags of popcorn at ₹50 each. Its costs are ₹1470. What is its profit (in ₹)?
8. 8.True or false: “one owner runs it” is true of a company. (a) False (b) True
9. 9.True or false: “owner owes the debts” is true of a sole trader. (a) False (b) True
10. 10.True or false: “simplest to start” is true of a company. (a) False (b) True
11. 11.A small business sells 36 bags of popcorn at ₹30 each. Its costs are ₹480. What is its profit (in ₹)?
12. 12.📜 Who should explain tax or legal rules for a business? (a) nobody (b) a random video (c) an adult or an expert (d) a classmate
13. 13.True or false: “owned by shareholders” is true of a company. (a) False (b) True
14. 14.Which of these is true of a sole trader? (a) owned by shareholders (b) owners’ risk is limited (c) a separate legal body (d) owner owes the debts
15. 15.True or false: “run by directors” is true of a sole trader. (a) True (b) False
16. 16.A small business sells 35 fruit cups at ₹5 each. What is its revenue (in ₹)?
17. 17.A small business sells 20 bags of popcorn at ₹35 each. What is its revenue (in ₹)?
18. 18.Which of these is true of a company? (a) owners’ risk is limited (b) simplest to start (c) owner keeps all profit (d) one owner runs it
19. 19.Which of these is true of a sole trader? (a) owners’ risk is limited (b) one owner runs it (c) run by directors (d) a separate legal body
20. 20.A small business sells 23 clay diyas at ₹5 each. Its costs are ₹20. What is its profit (in ₹)?
21. 21.Which of these is true of a company? (a) one owner runs it (b) owner keeps all profit (c) owned by shareholders (d) owner owes the debts
22. 22.True or false: “a separate legal body” is true of a sole trader. (a) False (b) True
23. 23.A small business sells 32 fruit cups at ₹25 each. What is its revenue (in ₹)?
24. 24.A small business selling potted plants had a revenue of ₹1155 and a profit of ₹1075. What were its costs (in ₹)?
25. 25.Which of these is true of a sole trader? (a) owned by shareholders (b) run by directors (c) simplest to start (d) owners’ risk is limited
26. 26.🏢 Sole trader or company: owner owes the debts? (a) a sole trader (b) a company
27. 27.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
28. 28.A small business sells 43 clay diyas at ₹30 each. Its costs are ₹1260. What is its profit (in ₹)?
29. 29.A small business selling jute bags had a revenue of ₹435 and a profit of ₹65. What were its costs (in ₹)?
30. 30.🏢 Sole trader or company: owner keeps all profit? (a) a sole trader (b) a company
31. 31.True or false: “run by directors” is true of a company. (a) False (b) True
32. 32.👤 A sole trader is… (a) a school club (b) a bank (c) a big company (d) a one-owner business
33. 33.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
34. 34.A small business sells 20 painted pebbles at ₹25 each. What is its revenue (in ₹)?
35. 35.A small business selling clay diyas had a revenue of ₹795 and a profit of ₹745. What were its costs (in ₹)?
36. 36.Which of these is true of a sole trader? (a) run by directors (b) a separate legal body (c) owned by shareholders (d) owner keeps all profit
37. 37.📊 Revenue minus costs equals… (a) stock (b) price (c) profit (d) revenue
38. 38.🏢 Sole trader or company: a separate legal body? (a) a sole trader (b) a company
39. 39.Which of these is true of a company? (a) owner owes the debts (b) one owner runs it (c) run by directors (d) simplest to start
40. 40.A small business sells 47 fruit cups at ₹20 each. Its costs are ₹390. What is its profit (in ₹)?

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