Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 215 · 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 17 bags of popcorn at ₹10 each. What is its revenue (in ₹)?
2. 2.True or false: “simplest to start” is true of a sole trader. (a) True (b) False
3. 3.A small business selling glasses of chai had a revenue of ₹330 and a profit of ₹230. What were its costs (in ₹)?
4. 4.True or false: “one owner runs it” is true of a company. (a) True (b) False
5. 5.True or false: “owned by shareholders” is true of a sole trader. (a) True (b) False
6. 6.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
7. 7.📜 Who should explain tax or legal rules for a business? (a) a classmate (b) an adult or an expert (c) nobody (d) a random video
8. 8.True or false: “a separate legal body” is true of a company. (a) True (b) False
9. 9.A small business sells 33 handmade cards at ₹35 each. Its costs are ₹920. What is its profit (in ₹)?
10. 10.A small business sells 54 cupcakes at ₹30 each. What is its revenue (in ₹)?
11. 11.True or false: “owners’ risk is limited” is true of a sole trader. (a) False (b) True
12. 12.True or false: “a separate legal body” is true of a sole trader. (a) True (b) False
13. 13.Which of these is true of a sole trader? (a) run by directors (b) simplest to start (c) a separate legal body (d) owners’ risk is limited
14. 14.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
15. 15.A small business sells 21 cupcakes at ₹40 each. Its costs are ₹260. What is its profit (in ₹)?
16. 16.True or false: “one owner runs it” is true of a sole trader. (a) False (b) True
17. 17.True or false: “owned by shareholders” is true of a company. (a) True (b) False
18. 18.A small business selling jute bags had a revenue of ₹480 and a profit of ₹330. What were its costs (in ₹)?
19. 19.A small business sells 52 friendship bands at ₹20 each. What is its revenue (in ₹)?
20. 20.📊 Revenue or profit: money in before costs? (a) profit (b) revenue
21. 21.📊 Revenue or profit: price × number sold? (a) revenue (b) profit
22. 22.📊 Revenue minus costs equals… (a) profit (b) revenue (c) price (d) stock
23. 23.A small business sells 18 cups of lemonade at ₹35 each. Its costs are ₹240. What is its profit (in ₹)?
24. 24.🏢 A company is owned by… (a) its suppliers (b) the government always (c) its shareholders (d) its customers
25. 25.True or false: “run by directors” is true of a sole trader. (a) True (b) False
26. 26.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
27. 27.A small business selling handmade cards had a revenue of ₹500 and a profit of ₹220. What were its costs (in ₹)?
28. 28.A small business selling painted pebbles had a revenue of ₹1075 and a profit of ₹845. What were its costs (in ₹)?
29. 29.A small business sells 39 painted pebbles at ₹30 each. Its costs are ₹220. What is its profit (in ₹)?
30. 30.Which of these is true of a company? (a) one owner runs it (b) owner owes the debts (c) owners’ risk is limited (d) owner keeps all profit
31. 31.True or false: “owner keeps all profit” is true of a company. (a) True (b) False
32. 32.A small business sells 16 friendship bands at ₹5 each. What is its revenue (in ₹)?
33. 33.A small business sells 17 glasses of chai at ₹45 each. What is its revenue (in ₹)?
34. 34.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
35. 35.A small business sells 47 glasses of chai at ₹30 each. Its costs are ₹320. What is its profit (in ₹)?
36. 36.A small business sells 11 glasses of chai at ₹40 each. Its costs are ₹130. What is its profit (in ₹)?
37. 37.A small business selling paper bookmarks had a revenue of ₹250 and a profit of ₹180. What were its costs (in ₹)?
38. 38.🏢 Sole trader or company: owner owes the debts? (a) a sole trader (b) a company
39. 39.A small business selling bags of popcorn had a revenue of ₹450 and a profit of ₹220. What were its costs (in ₹)?
40. 40.🏢 Sole trader or company: run by directors? (a) a sole trader (b) a company

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