Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 261 · 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 52 glasses of chai at ₹20 each. What is its revenue (in ₹)?
2. 2.True or false: “run by directors” is true of a sole trader. (a) False (b) True
3. 3.🏢 A company is owned by… (a) the government always (b) its customers (c) its suppliers (d) its shareholders
4. 4.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
5. 5.A small business sells 56 fruit cups at ₹5 each. Its costs are ₹130. What is its profit (in ₹)?
6. 6.True or false: “a separate legal body” is true of a sole trader. (a) False (b) True
7. 7.📊 Revenue or profit: price × number sold? (a) revenue (b) profit
8. 8.Which of these is true of a sole trader? (a) run by directors (b) owned by shareholders (c) simplest to start (d) a separate legal body
9. 9.A small business sells 56 glasses of chai at ₹5 each. Its costs are ₹270. What is its profit (in ₹)?
10. 10.A small business selling clay diyas had a revenue of ₹480 and a profit of ₹140. What were its costs (in ₹)?
11. 11.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
12. 12.A small business selling handmade cards had a revenue of ₹270 and a profit of ₹30. What were its costs (in ₹)?
13. 13.A small business selling potted plants had a revenue of ₹150 and a profit of ₹90. What were its costs (in ₹)?
14. 14.A small business selling glasses of chai had a revenue of ₹1450 and a profit of ₹400. What were its costs (in ₹)?
15. 15.Which of these is true of a company? (a) one owner runs it (b) owners’ risk is limited (c) owner owes the debts (d) simplest to start
16. 16.True or false: “owner keeps all profit” is true of a company. (a) False (b) True
17. 17.📊 Revenue or profit: goes up if costs fall? (a) profit (b) revenue
18. 18.📊 Revenue minus costs equals… (a) profit (b) revenue (c) stock (d) price
19. 19.A small business selling potted plants had a revenue of ₹1200 and a profit of ₹340. What were its costs (in ₹)?
20. 20.A small business sells 17 handmade cards at ₹35 each. Its costs are ₹40. What is its profit (in ₹)?
21. 21.A small business sells 54 clay diyas at ₹40 each. What is its revenue (in ₹)?
22. 22.Which of these is true of a sole trader? (a) one owner runs it (b) owners’ risk is limited (c) a separate legal body (d) owned by shareholders
23. 23.A small business sells 46 bags of popcorn at ₹10 each. Its costs are ₹310. What is its profit (in ₹)?
24. 24.👤 A sole trader is… (a) a one-owner business (b) a big company (c) a school club (d) a bank
25. 25.🏢 Sole trader or company: owner owes the debts? (a) a sole trader (b) a company
26. 26.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
27. 27.A small business selling jute bags had a revenue of ₹160 and a profit of ₹110. What were its costs (in ₹)?
28. 28.A small business sells 34 paper bookmarks at ₹30 each. Its costs are ₹910. What is its profit (in ₹)?
29. 29.📊 Revenue or profit: money in before costs? (a) revenue (b) profit
30. 30.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
31. 31.A small business sells 22 cupcakes at ₹10 each. Its costs are ₹50. What is its profit (in ₹)?
32. 32.Which of these is true of a sole trader? (a) owners’ risk is limited (b) run by directors (c) a separate legal body (d) owner owes the debts
33. 33.A small business selling potted plants had a revenue of ₹900 and a profit of ₹240. What were its costs (in ₹)?
34. 34.A small business sells 29 jute bags at ₹20 each. What is its revenue (in ₹)?
35. 35.A small business selling paper bookmarks had a revenue of ₹1200 and a profit of ₹390. What were its costs (in ₹)?
36. 36.Which of these is true of a company? (a) owner keeps all profit (b) simplest to start (c) owner owes the debts (d) owned by shareholders
37. 37.A small business sells 43 friendship bands at ₹35 each. What is its revenue (in ₹)?
38. 38.A small business sells 18 bags of popcorn at ₹30 each. Its costs are ₹200. What is its profit (in ₹)?
39. 39.True or false: “one owner runs it” is true of a company. (a) True (b) False
40. 40.A small business sells 25 cupcakes at ₹45 each. What is its revenue (in ₹)?

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