Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 168 · 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.A small business sells 10 painted pebbles at ₹35 each. What is its revenue (in ₹)?
2. 2.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
3. 3.Which of these is true of a sole trader? (a) run by directors (b) owned by shareholders (c) owner keeps all profit (d) owners’ risk is limited
4. 4.A small business sells 28 bags of popcorn at ₹35 each. Its costs are ₹710. What is its profit (in ₹)?
5. 5.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
6. 6.A small business selling fruit cups had a revenue of ₹525 and a profit of ₹415. What were its costs (in ₹)?
7. 7.A small business sells 24 glasses of chai at ₹30 each. Its costs are ₹580. What is its profit (in ₹)?
8. 8.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
9. 9.A small business selling painted pebbles had a revenue of ₹1950 and a profit of ₹1280. What were its costs (in ₹)?
10. 10.A small business selling clay diyas had a revenue of ₹350 and a profit of ₹140. What were its costs (in ₹)?
11. 11.A small business sells 54 potted plants at ₹10 each. What is its revenue (in ₹)?
12. 12.A small business sells 51 cupcakes at ₹5 each. Its costs are ₹100. What is its profit (in ₹)?
13. 13.👤 A sole trader is… (a) a school club (b) a bank (c) a big company (d) a one-owner business
14. 14.📊 Revenue or profit: revenue minus costs? (a) profit (b) revenue
15. 15.A small business selling bags of popcorn had a revenue of ₹310 and a profit of ₹20. What were its costs (in ₹)?
16. 16.🏢 Sole trader or company: owners’ risk is limited? (a) a company (b) a sole trader
17. 17.🏢 Sole trader or company: owned by shareholders? (a) a company (b) a sole trader
18. 18.A small business sells 41 friendship bands at ₹50 each. Its costs are ₹1610. What is its profit (in ₹)?
19. 19.True or false: “one owner runs it” is true of a company. (a) True (b) False
20. 20.True or false: “owner owes the debts” is true of a sole trader. (a) True (b) False
21. 21.Which of these is true of a sole trader? (a) owned by shareholders (b) one owner runs it (c) a separate legal body (d) run by directors
22. 22.🏢 Sole trader or company: simplest to start? (a) a company (b) a sole trader
23. 23.True or false: “simplest to start” is true of a company. (a) False (b) True
24. 24.A small business sells 36 bags of popcorn at ₹40 each. Its costs are ₹460. What is its profit (in ₹)?
25. 25.True or false: “owner keeps all profit” is true of a company. (a) True (b) False
26. 26.🎂 Can a 14-year-old run a business on their own? (a) only at night (b) only with adult help (c) yes, no one needed (d) never ever
27. 27.A small business sells 22 fruit cups at ₹25 each. Its costs are ₹330. What is its profit (in ₹)?
28. 28.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
29. 29.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
30. 30.A small business selling handmade cards had a revenue of ₹530 and a profit of ₹360. What were its costs (in ₹)?
31. 31.🏢 A company is owned by… (a) its suppliers (b) the government always (c) its customers (d) its shareholders
32. 32.📊 Revenue or profit: left after all costs? (a) profit (b) revenue
33. 33.📊 Revenue minus costs equals… (a) profit (b) price (c) stock (d) revenue
34. 34.🏢 Sole trader or company: a separate legal body? (a) a sole trader (b) a company
35. 35.A small business selling friendship bands had a revenue of ₹55 and a profit of ₹35. What were its costs (in ₹)?
36. 36.A small business sells 27 clay diyas at ₹15 each. What is its revenue (in ₹)?
37. 37.True or false: “one owner runs it” is true of a sole trader. (a) True (b) False
38. 38.True or false: “owner owes the debts” is true of a company. (a) False (b) True
39. 39.🏢 Sole trader or company: run by directors? (a) a sole trader (b) a company
40. 40.Which of these is true of a sole trader? (a) a separate legal body (b) run by directors (c) simplest to start (d) owned by shareholders

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