Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 259 · 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 46 glasses of chai at ₹40 each. What is its revenue (in ₹)?
2. 2.A small business sells 48 jute bags at ₹35 each. What is its revenue (in ₹)?
3. 3.A small business sells 27 bags of popcorn at ₹10 each. What is its revenue (in ₹)?
4. 4.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
5. 5.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
6. 6.A small business selling glasses of chai had a revenue of ₹705 and a profit of ₹675. What were its costs (in ₹)?
7. 7.🏢 A company is owned by… (a) its shareholders (b) its customers (c) the government always (d) its suppliers
8. 8.📊 Revenue or profit: money in before costs? (a) revenue (b) profit
9. 9.🏢 Sole trader or company: run by directors? (a) a sole trader (b) a company
10. 10.True or false: “run by directors” is true of a sole trader. (a) False (b) True
11. 11.True or false: “owners’ risk is limited” is true of a sole trader. (a) False (b) True
12. 12.Which of these is true of a company? (a) owned by shareholders (b) owner owes the debts (c) owner keeps all profit (d) simplest to start
13. 13.A small business sells 32 fruit cups at ₹25 each. Its costs are ₹570. What is its profit (in ₹)?
14. 14.👤 A sole trader is… (a) a big company (b) a bank (c) a one-owner business (d) a school club
15. 15.A small business sells 27 clay diyas at ₹50 each. Its costs are ₹60. What is its profit (in ₹)?
16. 16.A small business sells 29 paper bookmarks at ₹35 each. What is its revenue (in ₹)?
17. 17.🏢 Sole trader or company: owners’ risk is limited? (a) a company (b) a sole trader
18. 18.📊 Revenue or profit: revenue minus costs? (a) profit (b) revenue
19. 19.A small business sells 23 potted plants at ₹5 each. Its costs are ₹50. What is its profit (in ₹)?
20. 20.True or false: “a separate legal body” is true of a company. (a) False (b) True
21. 21.A small business sells 11 fruit cups at ₹35 each. Its costs are ₹140. What is its profit (in ₹)?
22. 22.True or false: “owned by shareholders” is true of a sole trader. (a) True (b) False
23. 23.📊 Revenue minus costs equals… (a) revenue (b) price (c) stock (d) profit
24. 24.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
25. 25.Which of these is true of a sole trader? (a) simplest to start (b) run by directors (c) owners’ risk is limited (d) owned by shareholders
26. 26.True or false: “owner keeps all profit” is true of a company. (a) True (b) False
27. 27.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
28. 28.True or false: “simplest to start” is true of a company. (a) True (b) False
29. 29.True or false: “run by directors” is true of a company. (a) True (b) False
30. 30.🏢 Sole trader or company: owner owes the debts? (a) a sole trader (b) a company
31. 31.Which of these is true of a sole trader? (a) one owner runs it (b) run by directors (c) owned by shareholders (d) owners’ risk is limited
32. 32.True or false: “one owner runs it” is true of a sole trader. (a) True (b) False
33. 33.📜 Who should explain tax or legal rules for a business? (a) nobody (b) an adult or an expert (c) a classmate (d) a random video
34. 34.A small business sells 31 paper bookmarks at ₹25 each. What is its revenue (in ₹)?
35. 35.🏢 Sole trader or company: simplest to start? (a) a company (b) a sole trader
36. 36.A small business sells 21 clay diyas at ₹5 each. What is its revenue (in ₹)?
37. 37.A small business sells 14 friendship bands at ₹10 each. Its costs are ₹90. What is its profit (in ₹)?
38. 38.True or false: “owners’ risk is limited” is true of a company. (a) True (b) False
39. 39.True or false: “a separate legal body” is true of a sole trader. (a) False (b) True
40. 40.🏢 Sole trader or company: a separate legal body? (a) a sole trader (b) a company

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