Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 148 · 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.🏢 Sole trader or company: simplest to start? (a) a company (b) a sole trader
2. 2.Which of these is true of a company? (a) one owner runs it (b) owner keeps all profit (c) a separate legal body (d) simplest to start
3. 3.Which of these is true of a sole trader? (a) a separate legal body (b) owners’ risk is limited (c) owned by shareholders (d) owner keeps all profit
4. 4.True or false: “simplest to start” is true of a sole trader. (a) True (b) False
5. 5.A small business sells 41 painted pebbles at ₹25 each. Its costs are ₹680. What is its profit (in ₹)?
6. 6.🏢 Sole trader or company: owners’ risk is limited? (a) a company (b) a sole trader
7. 7.🎂 Can a 14-year-old run a business on their own? (a) yes, no one needed (b) never ever (c) only with adult help (d) only at night
8. 8.👤 A sole trader is… (a) a one-owner business (b) a school club (c) a bank (d) a big company
9. 9.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
10. 10.🏢 Sole trader or company: run by directors? (a) a company (b) a sole trader
11. 11.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
12. 12.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
13. 13.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
14. 14.A small business sells 58 glasses of chai at ₹5 each. What is its revenue (in ₹)?
15. 15.📜 Who should explain tax or legal rules for a business? (a) a random video (b) a classmate (c) nobody (d) an adult or an expert
16. 16.A small business sells 58 cups of lemonade at ₹25 each. What is its revenue (in ₹)?
17. 17.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
18. 18.A small business selling friendship bands had a revenue of ₹420 and a profit of ₹260. What were its costs (in ₹)?
19. 19.A small business sells 52 bags of popcorn at ₹25 each. Its costs are ₹40. What is its profit (in ₹)?
20. 20.A small business sells 34 glasses of chai at ₹10 each. Its costs are ₹270. What is its profit (in ₹)?
21. 21.A small business sells 21 cupcakes at ₹30 each. Its costs are ₹10. What is its profit (in ₹)?
22. 22.True or false: “run by directors” is true of a sole trader. (a) False (b) True
23. 23.A small business sells 25 painted pebbles at ₹5 each. What is its revenue (in ₹)?
24. 24.True or false: “owners’ risk is limited” is true of a sole trader. (a) False (b) True
25. 25.A small business sells 51 cupcakes at ₹35 each. What is its revenue (in ₹)?
26. 26.Which of these is true of a sole trader? (a) owner owes the debts (b) a separate legal body (c) owned by shareholders (d) owners’ risk is limited
27. 27.📊 Revenue or profit: money in before costs? (a) profit (b) revenue
28. 28.True or false: “owned by shareholders” is true of a company. (a) False (b) True
29. 29.A small business sells 28 glasses of chai at ₹20 each. Its costs are ₹260. What is its profit (in ₹)?
30. 30.True or false: “owner keeps all profit” is true of a company. (a) False (b) True
31. 31.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
32. 32.A small business sells 43 handmade cards at ₹30 each. What is its revenue (in ₹)?
33. 33.A small business sells 60 jute bags at ₹40 each. Its costs are ₹660. What is its profit (in ₹)?
34. 34.A small business sells 52 handmade cards at ₹30 each. What is its revenue (in ₹)?
35. 35.A small business sells 41 fruit cups at ₹35 each. What is its revenue (in ₹)?
36. 36.A small business sells 38 glasses of chai at ₹40 each. Its costs are ₹160. What is its profit (in ₹)?
37. 37.A small business sells 51 jute bags at ₹45 each. What is its revenue (in ₹)?
38. 38.A small business selling cups of lemonade had a revenue of ₹1680 and a profit of ₹340. What were its costs (in ₹)?
39. 39.A small business sells 48 paper bookmarks at ₹25 each. Its costs are ₹60. What is its profit (in ₹)?
40. 40.📊 Revenue minus costs equals… (a) revenue (b) price (c) stock (d) profit

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