Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 127 · 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: revenue minus costs? (a) revenue (b) profit
2. 2.A small business sells 15 bags of popcorn at ₹25 each. What is its revenue (in ₹)?
3. 3.🏢 Sole trader or company: simplest to start? (a) a sole trader (b) a company
4. 4.True or false: “owner keeps all profit” is true of a company. (a) True (b) False
5. 5.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
6. 6.A small business sells 29 jute bags at ₹20 each. What is its revenue (in ₹)?
7. 7.📊 Revenue minus costs equals… (a) revenue (b) profit (c) price (d) stock
8. 8.A small business selling cupcakes had a revenue of ₹1530 and a profit of ₹1280. What were its costs (in ₹)?
9. 9.Which of these is true of a sole trader? (a) owners’ risk is limited (b) simplest to start (c) a separate legal body (d) run by directors
10. 10.Which of these is true of a sole trader? (a) owners’ risk is limited (b) owned by shareholders (c) run by directors (d) owner keeps all profit
11. 11.A small business sells 20 bags of popcorn at ₹10 each. Its costs are ₹140. What is its profit (in ₹)?
12. 12.📜 Who should explain tax or legal rules for a business? (a) a classmate (b) an adult or an expert (c) a random video (d) nobody
13. 13.🏢 Sole trader or company: a separate legal body? (a) a sole trader (b) a company
14. 14.True or false: “owned by shareholders” is true of a company. (a) False (b) True
15. 15.📊 Revenue or profit: goes up if costs fall? (a) profit (b) revenue
16. 16.👤 A sole trader is… (a) a big company (b) a school club (c) a one-owner business (d) a bank
17. 17.A small business sells 49 fruit cups at ₹20 each. What is its revenue (in ₹)?
18. 18.Which of these is true of a sole trader? (a) owners’ risk is limited (b) a separate legal body (c) owner owes the debts (d) run by directors
19. 19.A small business sells 22 cups of lemonade at ₹25 each. Its costs are ₹70. What is its profit (in ₹)?
20. 20.🏢 Sole trader or company: owners’ risk is limited? (a) a sole trader (b) a company
21. 21.A small business sells 11 cupcakes at ₹25 each. What is its revenue (in ₹)?
22. 22.A small business sells 20 bags of popcorn at ₹35 each. What is its revenue (in ₹)?
23. 23.A small business sells 29 bags of popcorn at ₹50 each. Its costs are ₹1110. What is its profit (in ₹)?
24. 24.A small business sells 33 cups of lemonade at ₹50 each. Its costs are ₹1280. What is its profit (in ₹)?
25. 25.A small business selling handmade cards had a revenue of ₹1120 and a profit of ₹180. What were its costs (in ₹)?
26. 26.A small business sells 43 bags of popcorn at ₹20 each. Its costs are ₹700. What is its profit (in ₹)?
27. 27.A small business selling friendship bands had a revenue of ₹225 and a profit of ₹215. What were its costs (in ₹)?
28. 28.A small business sells 52 glasses of chai at ₹40 each. What is its revenue (in ₹)?
29. 29.A small business selling handmade cards had a revenue of ₹580 and a profit of ₹60. What were its costs (in ₹)?
30. 30.A small business sells 56 jute bags at ₹10 each. Its costs are ₹430. What is its profit (in ₹)?
31. 31.A small business sells 21 cups of lemonade at ₹5 each. Its costs are ₹70. What is its profit (in ₹)?
32. 32.📊 Revenue or profit: money in before costs? (a) revenue (b) profit
33. 33.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
34. 34.🎂 Can a 14-year-old run a business on their own? (a) only with adult help (b) only at night (c) yes, no one needed (d) never ever
35. 35.A small business selling bags of popcorn had a revenue of ₹840 and a profit of ₹720. What were its costs (in ₹)?
36. 36.A small business sells 27 friendship bands at ₹35 each. What is its revenue (in ₹)?
37. 37.True or false: “a separate legal body” is true of a company. (a) False (b) True
38. 38.True or false: “one owner runs it” is true of a company. (a) True (b) False
39. 39.A small business sells 17 potted plants at ₹50 each. Its costs are ₹660. What is its profit (in ₹)?
40. 40.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader

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