Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 116 · 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: price × number sold? (a) profit (b) revenue
2. 2.📜 Who should explain tax or legal rules for a business? (a) an adult or an expert (b) nobody (c) a random video (d) a classmate
3. 3.👤 A sole trader is… (a) a big company (b) a one-owner business (c) a school club (d) a bank
4. 4.🏢 Sole trader or company: owners’ risk is limited? (a) a company (b) a sole trader
5. 5.A small business sells 32 bags of popcorn at ₹50 each. What is its revenue (in ₹)?
6. 6.Which of these is true of a company? (a) owner keeps all profit (b) one owner runs it (c) owned by shareholders (d) owner owes the debts
7. 7.A small business sells 14 bags of popcorn at ₹15 each. Its costs are ₹130. What is its profit (in ₹)?
8. 8.Which of these is true of a sole trader? (a) a separate legal body (b) run by directors (c) owners’ risk is limited (d) owner owes the debts
9. 9.A small business sells 22 fruit cups at ₹35 each. Its costs are ₹310. What is its profit (in ₹)?
10. 10.True or false: “owner owes the debts” is true of a sole trader. (a) False (b) True
11. 11.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
12. 12.A small business sells 27 potted plants at ₹5 each. Its costs are ₹40. What is its profit (in ₹)?
13. 13.Which of these is true of a company? (a) owner owes the debts (b) one owner runs it (c) owner keeps all profit (d) run by directors
14. 14.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
15. 15.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
16. 16.A small business selling jute bags had a revenue of ₹750 and a profit of ₹260. What were its costs (in ₹)?
17. 17.🎂 Can a 14-year-old run a business on their own? (a) never ever (b) only at night (c) yes, no one needed (d) only with adult help
18. 18.Which of these is true of a company? (a) simplest to start (b) one owner runs it (c) owner keeps all profit (d) owners’ risk is limited
19. 19.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
20. 20.🏢 Sole trader or company: a separate legal body? (a) a sole trader (b) a company
21. 21.📊 Revenue or profit: goes up if costs fall? (a) profit (b) revenue
22. 22.A small business sells 23 cups of lemonade at ₹5 each. What is its revenue (in ₹)?
23. 23.A small business sells 16 clay diyas at ₹10 each. Its costs are ₹90. What is its profit (in ₹)?
24. 24.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
25. 25.True or false: “simplest to start” is true of a company. (a) False (b) True
26. 26.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
27. 27.A small business sells 58 clay diyas at ₹50 each. What is its revenue (in ₹)?
28. 28.📊 Revenue or profit: money in before costs? (a) revenue (b) profit
29. 29.Which of these is true of a sole trader? (a) owner keeps all profit (b) a separate legal body (c) owned by shareholders (d) run by directors
30. 30.A small business selling potted plants had a revenue of ₹2650 and a profit of ₹1520. What were its costs (in ₹)?
31. 31.A small business sells 24 cups of lemonade at ₹25 each. What is its revenue (in ₹)?
32. 32.🏢 Sole trader or company: simplest to start? (a) a sole trader (b) a company
33. 33.Which of these is true of a sole trader? (a) run by directors (b) owners’ risk is limited (c) a separate legal body (d) simplest to start
34. 34.Which of these is true of a sole trader? (a) owned by shareholders (b) one owner runs it (c) owners’ risk is limited (d) a separate legal body
35. 35.A small business sells 19 fruit cups at ₹25 each. What is its revenue (in ₹)?
36. 36.True or false: “owned by shareholders” is true of a sole trader. (a) True (b) False
37. 37.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
38. 38.A small business sells 53 painted pebbles at ₹5 each. Its costs are ₹240. What is its profit (in ₹)?
39. 39.A small business selling glasses of chai had a revenue of ₹1620 and a profit of ₹80. What were its costs (in ₹)?
40. 40.A small business sells 29 fruit cups at ₹20 each. Its costs are ₹70. What is its profit (in ₹)?

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