Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 225 · 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: left after all costs? (a) revenue (b) profit
2. 2.A small business sells 13 potted plants at ₹25 each. What is its revenue (in ₹)?
3. 3.True or false: “owned by shareholders” is true of a sole trader. (a) True (b) False
4. 4.🎂 Can a 14-year-old run a business on their own? (a) only with adult help (b) yes, no one needed (c) never ever (d) only at night
5. 5.A small business sells 27 painted pebbles at ₹10 each. Its costs are ₹70. What is its profit (in ₹)?
6. 6.📊 Revenue minus costs equals… (a) price (b) revenue (c) stock (d) profit
7. 7.A small business selling glasses of chai had a revenue of ₹500 and a profit of ₹380. What were its costs (in ₹)?
8. 8.Which of these is true of a company? (a) owner owes the debts (b) simplest to start (c) owner keeps all profit (d) owned by shareholders
9. 9.A small business selling glasses of chai had a revenue of ₹1620 and a profit of ₹250. What were its costs (in ₹)?
10. 10.Which of these is true of a sole trader? (a) owned by shareholders (b) owner owes the debts (c) a separate legal body (d) run by directors
11. 11.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
12. 12.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
13. 13.True or false: “owner owes the debts” is true of a company. (a) False (b) True
14. 14.True or false: “owner keeps all profit” is true of a sole trader. (a) True (b) False
15. 15.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
16. 16.🏢 A company is owned by… (a) its suppliers (b) its shareholders (c) the government always (d) its customers
17. 17.A small business selling bags of popcorn had a revenue of ₹820 and a profit of ₹430. What were its costs (in ₹)?
18. 18.Which of these is true of a sole trader? (a) run by directors (b) simplest to start (c) owned by shareholders (d) a separate legal body
19. 19.True or false: “run by directors” is true of a company. (a) False (b) True
20. 20.A small business sells 59 cupcakes at ₹15 each. Its costs are ₹420. What is its profit (in ₹)?
21. 21.A small business sells 40 jute bags at ₹30 each. What is its revenue (in ₹)?
22. 22.A small business sells 51 jute bags at ₹5 each. What is its revenue (in ₹)?
23. 23.A small business sells 18 bags of popcorn at ₹40 each. What is its revenue (in ₹)?
24. 24.A small business sells 26 potted plants at ₹10 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 selling handmade cards had a revenue of ₹2610 and a profit of ₹620. What were its costs (in ₹)?
27. 27.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
28. 28.A small business sells 42 friendship bands at ₹35 each. Its costs are ₹350. What is its profit (in ₹)?
29. 29.A small business selling potted plants had a revenue of ₹660 and a profit of ₹480. What were its costs (in ₹)?
30. 30.🏢 Sole trader or company: simplest to start? (a) a sole trader (b) a company
31. 31.Which of these is true of a company? (a) owner owes the debts (b) a separate legal body (c) owner keeps all profit (d) one owner runs it
32. 32.📊 Revenue or profit: revenue minus costs? (a) profit (b) revenue
33. 33.A small business selling clay diyas had a revenue of ₹450 and a profit of ₹220. What were its costs (in ₹)?
34. 34.True or false: “a separate legal body” is true of a company. (a) True (b) False
35. 35.🏢 Sole trader or company: run by directors? (a) a sole trader (b) a company
36. 36.A small business sells 52 cupcakes at ₹25 each. Its costs are ₹1180. What is its profit (in ₹)?
37. 37.A small business sells 20 painted pebbles at ₹35 each. Its costs are ₹660. What is its profit (in ₹)?
38. 38.Which of these is true of a company? (a) one owner runs it (b) owner keeps all profit (c) owners’ risk is limited (d) owner owes the debts
39. 39.A small business sells 28 bags of popcorn at ₹20 each. Its costs are ₹420. What is its profit (in ₹)?
40. 40.A small business selling jute bags had a revenue of ₹980 and a profit of ₹130. What were its costs (in ₹)?

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