Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 286 · 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 29 glasses of chai at ₹10 each. Its costs are ₹140. What is its profit (in ₹)?
2. 2.A small business selling bags of popcorn had a revenue of ₹245 and a profit of ₹75. What were its costs (in ₹)?
3. 3.Which of these is true of a company? (a) simplest to start (b) one owner runs it (c) owner owes the debts (d) a separate legal body
4. 4.A small business sells 44 bags of popcorn at ₹15 each. What is its revenue (in ₹)?
5. 5.🏢 Sole trader or company: run by directors? (a) a company (b) a sole trader
6. 6.📊 Revenue minus costs equals… (a) revenue (b) price (c) stock (d) profit
7. 7.A small business sells 52 potted plants at ₹25 each. Its costs are ₹510. What is its profit (in ₹)?
8. 8.True or false: “run by directors” is true of a sole trader. (a) False (b) True
9. 9.A small business selling clay diyas had a revenue of ₹1100 and a profit of ₹850. What were its costs (in ₹)?
10. 10.A small business sells 46 glasses of chai at ₹45 each. What is its revenue (in ₹)?
11. 11.🏢 Sole trader or company: owned by shareholders? (a) a company (b) a sole trader
12. 12.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
13. 13.True or false: “one owner runs it” is true of a sole trader. (a) False (b) True
14. 14.A small business selling paper bookmarks had a revenue of ₹1295 and a profit of ₹1055. What were its costs (in ₹)?
15. 15.A small business selling jute bags had a revenue of ₹320 and a profit of ₹110. What were its costs (in ₹)?
16. 16.A small business selling glasses of chai had a revenue of ₹375 and a profit of ₹255. What were its costs (in ₹)?
17. 17.A small business sells 27 handmade cards at ₹10 each. What is its revenue (in ₹)?
18. 18.👤 A sole trader is… (a) a school club (b) a one-owner business (c) a big company (d) a bank
19. 19.🏢 Sole trader or company: owners’ risk is limited? (a) a sole trader (b) a company
20. 20.A small business sells 37 clay diyas at ₹35 each. What is its revenue (in ₹)?
21. 21.🎂 Can a 14-year-old run a business on their own? (a) only at night (b) yes, no one needed (c) never ever (d) only with adult help
22. 22.True or false: “run by directors” is true of a company. (a) False (b) True
23. 23.📊 Revenue or profit: price × number sold? (a) revenue (b) profit
24. 24.📊 Revenue or profit: goes up if costs fall? (a) profit (b) revenue
25. 25.Which of these is true of a sole trader? (a) run by directors (b) owned by shareholders (c) a separate legal body (d) owner keeps all profit
26. 26.🏢 Sole trader or company: simplest to start? (a) a company (b) a sole trader
27. 27.True or false: “owned by shareholders” is true of a sole trader. (a) False (b) True
28. 28.🏢 Sole trader or company: owner owes the debts? (a) a sole trader (b) a company
29. 29.True or false: “a separate legal body” is true of a company. (a) True (b) False
30. 30.True or false: “owner keeps all profit” is true of a company. (a) False (b) True
31. 31.Which of these is true of a company? (a) run by directors (b) simplest to start (c) owner keeps all profit (d) one owner runs it
32. 32.🏢 Sole trader or company: a separate legal body? (a) a sole trader (b) a company
33. 33.A small business sells 52 painted pebbles at ₹10 each. What is its revenue (in ₹)?
34. 34.Which of these is true of a company? (a) one owner runs it (b) owner keeps all profit (c) owned by shareholders (d) owner owes the debts
35. 35.Which of these is true of a sole trader? (a) run by directors (b) a separate legal body (c) one owner runs it (d) owned by shareholders
36. 36.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
37. 37.Which of these is true of a sole trader? (a) simplest to start (b) owned by shareholders (c) a separate legal body (d) run by directors
38. 38.True or false: “a separate legal body” is true of a sole trader. (a) True (b) False
39. 39.A small business sells 35 potted plants at ₹30 each. What is its revenue (in ₹)?
40. 40.A small business sells 16 painted pebbles at ₹5 each. What is its revenue (in ₹)?

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