Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 231 · 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: one owner runs it? (a) a company (b) a sole trader
2. 2.A small business selling painted pebbles had a revenue of ₹1085 and a profit of ₹685. What were its costs (in ₹)?
3. 3.📊 Revenue or profit: money in before costs? (a) profit (b) revenue
4. 4.A small business sells 54 potted plants at ₹20 each. Its costs are ₹370. What is its profit (in ₹)?
5. 5.A small business sells 20 jute bags at ₹15 each. What is its revenue (in ₹)?
6. 6.A small business sells 19 friendship bands at ₹5 each. Its costs are ₹40. What is its profit (in ₹)?
7. 7.Which of these is true of a sole trader? (a) a separate legal body (b) owned by shareholders (c) one owner runs it (d) run by directors
8. 8.👤 A sole trader is… (a) a bank (b) a one-owner business (c) a school club (d) a big company
9. 9.A small business sells 23 bags of popcorn at ₹40 each. What is its revenue (in ₹)?
10. 10.A small business sells 17 potted plants at ₹45 each. Its costs are ₹20. What is its profit (in ₹)?
11. 11.🏢 Sole trader or company: owner owes the debts? (a) a sole trader (b) a company
12. 12.True or false: “run by directors” is true of a sole trader. (a) False (b) True
13. 13.A small business sells 35 fruit cups at ₹40 each. Its costs are ₹800. What is its profit (in ₹)?
14. 14.True or false: “owned by shareholders” is true of a sole trader. (a) False (b) True
15. 15.A small business sells 10 painted pebbles at ₹50 each. What is its revenue (in ₹)?
16. 16.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
17. 17.📊 Revenue or profit: left after all costs? (a) profit (b) revenue
18. 18.A small business sells 25 handmade cards at ₹30 each. Its costs are ₹310. What is its profit (in ₹)?
19. 19.True or false: “owned by shareholders” is true of a company. (a) True (b) False
20. 20.📊 Revenue or profit: price × number sold? (a) revenue (b) profit
21. 21.A small business sells 40 handmade cards at ₹15 each. What is its revenue (in ₹)?
22. 22.True or false: “owner owes the debts” is true of a company. (a) True (b) False
23. 23.A small business sells 55 cups of lemonade at ₹5 each. What is its revenue (in ₹)?
24. 24.📜 Who should explain tax or legal rules for a business? (a) a classmate (b) nobody (c) an adult or an expert (d) a random video
25. 25.A small business selling clay diyas had a revenue of ₹425 and a profit of ₹225. What were its costs (in ₹)?
26. 26.A small business selling handmade cards had a revenue of ₹70 and a profit of ₹50. What were its costs (in ₹)?
27. 27.True or false: “one owner runs it” is true of a company. (a) True (b) False
28. 28.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
29. 29.A small business sells 21 cupcakes at ₹15 each. Its costs are ₹60. What is its profit (in ₹)?
30. 30.A small business sells 36 cups of lemonade at ₹40 each. Its costs are ₹1320. What is its profit (in ₹)?
31. 31.Which of these is true of a company? (a) one owner runs it (b) owner keeps all profit (c) simplest to start (d) owned by shareholders
32. 32.A small business sells 28 bags of popcorn at ₹10 each. What is its revenue (in ₹)?
33. 33.📊 Revenue or profit: goes up if costs fall? (a) profit (b) revenue
34. 34.A small business sells 39 glasses of chai at ₹35 each. Its costs are ₹1060. What is its profit (in ₹)?
35. 35.🏢 Sole trader or company: owners’ risk is limited? (a) a company (b) a sole trader
36. 36.Which of these is true of a sole trader? (a) run by directors (b) owner owes the debts (c) owned by shareholders (d) a separate legal body
37. 37.Which of these is true of a company? (a) owner owes the debts (b) one owner runs it (c) owner keeps all profit (d) owners’ risk is limited
38. 38.🏢 Sole trader or company: run by directors? (a) a company (b) a sole trader
39. 39.A small business sells 38 painted pebbles at ₹30 each. What is its revenue (in ₹)?
40. 40.A small business sells 58 handmade cards at ₹10 each. Its costs are ₹260. What is its profit (in ₹)?

Free entrepreneurship lessons, practice and worksheets at talentjr.in/entrepreneurship-for-kids