Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 137 · 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.📜 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
2. 2.A small business sells 27 paper bookmarks at ₹5 each. Its costs are ₹110. What is its profit (in ₹)?
3. 3.📊 Revenue or profit: money in before costs? (a) profit (b) revenue
4. 4.True or false: “owners’ risk is limited” is true of a sole trader. (a) False (b) True
5. 5.🏢 Sole trader or company: run by directors? (a) a company (b) a sole trader
6. 6.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
7. 7.True or false: “owner keeps all profit” is true of a company. (a) False (b) True
8. 8.Which of these is true of a sole trader? (a) a separate legal body (b) owners’ risk is limited (c) owner owes the debts (d) run by directors
9. 9.Which of these is true of a company? (a) owner owes the debts (b) owner keeps all profit (c) simplest to start (d) a separate legal body
10. 10.A small business sells 37 bags of popcorn at ₹10 each. Its costs are ₹160. What is its profit (in ₹)?
11. 11.🏢 Sole trader or company: simplest to start? (a) a sole trader (b) a company
12. 12.Which of these is true of a company? (a) owner keeps all profit (b) owners’ risk is limited (c) one owner runs it (d) owner owes the debts
13. 13.🏢 Sole trader or company: owned by shareholders? (a) a company (b) a sole trader
14. 14.A small business sells 13 cupcakes at ₹30 each. What is its revenue (in ₹)?
15. 15.🎂 Can a 14-year-old run a business on their own? (a) only with adult help (b) yes, no one needed (c) only at night (d) never ever
16. 16.A small business sells 14 painted pebbles at ₹5 each. What is its revenue (in ₹)?
17. 17.A small business selling cups of lemonade had a revenue of ₹1200 and a profit of ₹1150. What were its costs (in ₹)?
18. 18.A small business sells 30 potted plants at ₹35 each. Its costs are ₹350. What is its profit (in ₹)?
19. 19.A small business sells 38 painted pebbles at ₹15 each. What is its revenue (in ₹)?
20. 20.Which of these is true of a company? (a) owner owes the debts (b) owner keeps all profit (c) owned by shareholders (d) simplest to start
21. 21.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
22. 22.True or false: “owner keeps all profit” is true of a sole trader. (a) False (b) True
23. 23.A small business selling paper bookmarks had a revenue of ₹1000 and a profit of ₹980. What were its costs (in ₹)?
24. 24.A small business sells 23 jute bags at ₹25 each. What is its revenue (in ₹)?
25. 25.True or false: “simplest to start” is true of a company. (a) True (b) False
26. 26.A small business sells 28 bags of popcorn at ₹50 each. Its costs are ₹190. What is its profit (in ₹)?
27. 27.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
28. 28.🏢 Sole trader or company: owners’ risk is limited? (a) a company (b) a sole trader
29. 29.True or false: “one owner runs it” is true of a company. (a) True (b) False
30. 30.A small business sells 25 clay diyas at ₹10 each. Its costs are ₹10. What is its profit (in ₹)?
31. 31.👤 A sole trader is… (a) a big company (b) a bank (c) a one-owner business (d) a school club
32. 32.🏢 Sole trader or company: owner keeps all profit? (a) a sole trader (b) a company
33. 33.🏢 Sole trader or company: a separate legal body? (a) a sole trader (b) a company
34. 34.A small business selling cupcakes had a revenue of ₹100 and a profit of ₹40. What were its costs (in ₹)?
35. 35.A small business sells 44 glasses of chai at ₹50 each. Its costs are ₹450. What is its profit (in ₹)?
36. 36.A small business selling painted pebbles had a revenue of ₹285 and a profit of ₹75. What were its costs (in ₹)?
37. 37.A small business selling glasses of chai had a revenue of ₹155 and a profit of ₹95. What were its costs (in ₹)?
38. 38.True or false: “owners’ risk is limited” is true of a company. (a) True (b) False
39. 39.A small business selling glasses of chai had a revenue of ₹800 and a profit of ₹90. What were its costs (in ₹)?
40. 40.A small business sells 20 bags of popcorn at ₹20 each. What is its revenue (in ₹)?

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