Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 273 · 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 37 paper bookmarks at ₹25 each. What is its revenue (in ₹)?
2. 2.A small business sells 10 jute bags at ₹15 each. What is its revenue (in ₹)?
3. 3.🏢 Sole trader or company: run by directors? (a) a sole trader (b) a company
4. 4.A small business sells 20 handmade cards at ₹45 each. What is its revenue (in ₹)?
5. 5.🏢 Sole trader or company: owned by shareholders? (a) a company (b) a sole trader
6. 6.Which of these is true of a company? (a) owner keeps all profit (b) owner owes the debts (c) owned by shareholders (d) one owner runs it
7. 7.📊 Revenue or profit: money in before costs? (a) revenue (b) profit
8. 8.True or false: “a separate legal body” is true of a company. (a) True (b) False
9. 9.🏢 A company is owned by… (a) its suppliers (b) its shareholders (c) its customers (d) the government always
10. 10.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
11. 11.Which of these is true of a sole trader? (a) a separate legal body (b) owned by shareholders (c) owner owes the debts (d) run by directors
12. 12.A small business sells 58 friendship bands at ₹5 each. What is its revenue (in ₹)?
13. 13.A small business sells 19 painted pebbles at ₹45 each. What is its revenue (in ₹)?
14. 14.📜 Who should explain tax or legal rules for a business? (a) nobody (b) a classmate (c) an adult or an expert (d) a random video
15. 15.A small business selling glasses of chai had a revenue of ₹1620 and a profit of ₹660. What were its costs (in ₹)?
16. 16.A small business selling glasses of chai had a revenue of ₹360 and a profit of ₹230. What were its costs (in ₹)?
17. 17.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
18. 18.A small business sells 50 friendship bands at ₹35 each. Its costs are ₹1510. What is its profit (in ₹)?
19. 19.True or false: “owned by shareholders” is true of a sole trader. (a) True (b) False
20. 20.👤 A sole trader is… (a) a big company (b) a bank (c) a school club (d) a one-owner business
21. 21.A small business selling fruit cups had a revenue of ₹1890 and a profit of ₹630. What were its costs (in ₹)?
22. 22.A small business sells 18 fruit cups at ₹5 each. Its costs are ₹10. What is its profit (in ₹)?
23. 23.A small business selling handmade cards had a revenue of ₹140 and a profit of ₹110. What were its costs (in ₹)?
24. 24.A small business sells 38 friendship bands at ₹5 each. What is its revenue (in ₹)?
25. 25.🎂 Can a 14-year-old run a business on their own? (a) yes, no one needed (b) only at night (c) never ever (d) only with adult help
26. 26.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
27. 27.A small business sells 31 jute bags at ₹35 each. What is its revenue (in ₹)?
28. 28.True or false: “one owner runs it” is true of a sole trader. (a) False (b) True
29. 29.A small business sells 41 jute bags at ₹45 each. What is its revenue (in ₹)?
30. 30.True or false: “owner keeps all profit” is true of a sole trader. (a) True (b) False
31. 31.🏢 Sole trader or company: a separate legal body? (a) a sole trader (b) a company
32. 32.🏢 Sole trader or company: owner keeps all profit? (a) a sole trader (b) a company
33. 33.🏢 Sole trader or company: owner owes the debts? (a) a sole trader (b) a company
34. 34.A small business sells 48 friendship bands at ₹5 each. What is its revenue (in ₹)?
35. 35.📊 Revenue minus costs equals… (a) stock (b) profit (c) revenue (d) price
36. 36.Which of these is true of a company? (a) a separate legal body (b) one owner runs it (c) simplest to start (d) owner keeps all profit
37. 37.Which of these is true of a sole trader? (a) owner keeps all profit (b) a separate legal body (c) owned by shareholders (d) run by directors
38. 38.A small business selling cups of lemonade had a revenue of ₹1155 and a profit of ₹625. What were its costs (in ₹)?
39. 39.True or false: “owner keeps all profit” is true of a company. (a) True (b) False
40. 40.A small business selling clay diyas had a revenue of ₹240 and a profit of ₹140. What were its costs (in ₹)?

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