Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 277 · 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 34 cupcakes at ₹10 each. What is its revenue (in ₹)?
2. 2.True or false: “one owner runs it” is true of a sole trader. (a) False (b) True
3. 3.A small business sells 45 fruit cups at ₹45 each. Its costs are ₹1150. What is its profit (in ₹)?
4. 4.A small business sells 28 handmade cards at ₹35 each. Its costs are ₹320. What is its profit (in ₹)?
5. 5.🎂 Can a 14-year-old run a business on their own? (a) never ever (b) only at night (c) only with adult help (d) yes, no one needed
6. 6.True or false: “a separate legal body” is true of a company. (a) True (b) False
7. 7.A small business sells 29 paper bookmarks at ₹5 each. What is its revenue (in ₹)?
8. 8.A small business sells 36 bags of popcorn at ₹10 each. Its costs are ₹110. What is its profit (in ₹)?
9. 9.📊 Revenue or profit: left after all costs? (a) profit (b) revenue
10. 10.A small business sells 29 friendship bands at ₹45 each. Its costs are ₹750. What is its profit (in ₹)?
11. 11.👤 A sole trader is… (a) a school club (b) a one-owner business (c) a big company (d) a bank
12. 12.A small business selling paper bookmarks had a revenue of ₹275 and a profit of ₹215. What were its costs (in ₹)?
13. 13.📊 Revenue or profit: money in before costs? (a) profit (b) revenue
14. 14.True or false: “owned by shareholders” is true of a company. (a) True (b) False
15. 15.📊 Revenue minus costs equals… (a) revenue (b) stock (c) price (d) profit
16. 16.Which of these is true of a sole trader? (a) owned by shareholders (b) run by directors (c) owner keeps all profit (d) a separate legal body
17. 17.A small business sells 44 painted pebbles at ₹45 each. What is its revenue (in ₹)?
18. 18.A small business sells 10 jute bags at ₹50 each. Its costs are ₹180. What is its profit (in ₹)?
19. 19.A small business selling friendship bands had a revenue of ₹2070 and a profit of ₹320. What were its costs (in ₹)?
20. 20.Which of these is true of a company? (a) owner keeps all profit (b) owner owes the debts (c) owners’ risk is limited (d) one owner runs it
21. 21.🏢 Sole trader or company: run by directors? (a) a company (b) a sole trader
22. 22.A small business selling bags of popcorn had a revenue of ₹2360 and a profit of ₹60. What were its costs (in ₹)?
23. 23.A small business sells 15 clay diyas at ₹30 each. Its costs are ₹270. What is its profit (in ₹)?
24. 24.True or false: “simplest to start” is true of a company. (a) False (b) True
25. 25.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
26. 26.True or false: “owner owes the debts” is true of a company. (a) True (b) False
27. 27.A small business sells 49 bags of popcorn at ₹35 each. Its costs are ₹230. What is its profit (in ₹)?
28. 28.🏢 A company is owned by… (a) its shareholders (b) its suppliers (c) the government always (d) its customers
29. 29.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
30. 30.Which of these is true of a company? (a) owned by shareholders (b) one owner runs it (c) owner keeps all profit (d) simplest to start
31. 31.True or false: “owner keeps all profit” is true of a company. (a) True (b) False
32. 32.A small business sells 20 paper bookmarks at ₹50 each. What is its revenue (in ₹)?
33. 33.True or false: “run by directors” is true of a sole trader. (a) True (b) False
34. 34.📊 Revenue or profit: revenue minus costs? (a) profit (b) revenue
35. 35.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
36. 36.A small business selling handmade cards had a revenue of ₹630 and a profit of ₹370. What were its costs (in ₹)?
37. 37.A small business selling glasses of chai had a revenue of ₹2295 and a profit of ₹1665. What were its costs (in ₹)?
38. 38.Which of these is true of a sole trader? (a) simplest to start (b) a separate legal body (c) owned by shareholders (d) run by directors
39. 39.A small business sells 27 painted pebbles at ₹30 each. What is its revenue (in ₹)?
40. 40.Which of these is true of a sole trader? (a) owner owes the debts (b) a separate legal body (c) run by directors (d) owners’ risk is limited

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