Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 29 · 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.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
2. 2.📜 Who should explain tax or legal rules for a business? (a) a random video (b) nobody (c) an adult or an expert (d) a classmate
3. 3.A small business sells 15 glasses of chai at ₹10 each. What is its revenue (in ₹)?
4. 4.📊 Revenue or profit: left after all costs? (a) profit (b) revenue
5. 5.A small business sells 34 handmade cards at ₹10 each. What is its revenue (in ₹)?
6. 6.🎂 Can a 14-year-old run a business on their own? (a) only with adult help (b) yes, no one needed (c) never ever (d) only at night
7. 7.A small business selling cups of lemonade had a revenue of ₹960 and a profit of ₹180. What were its costs (in ₹)?
8. 8.📊 Revenue or profit: price × number sold? (a) revenue (b) profit
9. 9.Which of these is true of a company? (a) simplest to start (b) owned by shareholders (c) owner owes the debts (d) owner keeps all profit
10. 10.A small business selling glasses of chai had a revenue of ₹350 and a profit of ₹140. What were its costs (in ₹)?
11. 11.A small business sells 46 friendship bands at ₹50 each. What is its revenue (in ₹)?
12. 12.Which of these is true of a sole trader? (a) a separate legal body (b) owner owes the debts (c) owned by shareholders (d) owners’ risk is limited
13. 13.A small business sells 10 friendship bands at ₹40 each. What is its revenue (in ₹)?
14. 14.True or false: “owner keeps all profit” is true of a sole trader. (a) False (b) True
15. 15.A small business sells 53 clay diyas at ₹20 each. What is its revenue (in ₹)?
16. 16.True or false: “owner owes the debts” is true of a sole trader. (a) False (b) True
17. 17.A small business selling jute bags had a revenue of ₹1435 and a profit of ₹625. What were its costs (in ₹)?
18. 18.True or false: “simplest to start” is true of a company. (a) True (b) False
19. 19.A small business sells 50 fruit cups at ₹50 each. What is its revenue (in ₹)?
20. 20.🏢 Sole trader or company: owner keeps all profit? (a) a sole trader (b) a company
21. 21.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
22. 22.True or false: “a separate legal body” is true of a company. (a) False (b) True
23. 23.A small business sells 13 handmade cards at ₹10 each. What is its revenue (in ₹)?
24. 24.📊 Revenue minus costs equals… (a) price (b) stock (c) revenue (d) profit
25. 25.A small business sells 59 friendship bands at ₹5 each. Its costs are ₹190. What is its profit (in ₹)?
26. 26.A small business sells 41 paper bookmarks at ₹25 each. Its costs are ₹360. What is its profit (in ₹)?
27. 27.🏢 A company is owned by… (a) its suppliers (b) its customers (c) the government always (d) its shareholders
28. 28.True or false: “simplest to start” is true of a sole trader. (a) False (b) True
29. 29.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
30. 30.👤 A sole trader is… (a) a school club (b) a bank (c) a one-owner business (d) a big company
31. 31.True or false: “owners’ risk is limited” is true of a sole trader. (a) False (b) True
32. 32.Which of these is true of a sole trader? (a) a separate legal body (b) owners’ risk is limited (c) owned by shareholders (d) owner keeps all profit
33. 33.A small business sells 20 bags of popcorn at ₹20 each. Its costs are ₹290. What is its profit (in ₹)?
34. 34.A small business sells 48 cups of lemonade at ₹20 each. What is its revenue (in ₹)?
35. 35.A small business sells 11 friendship bands at ₹35 each. What is its revenue (in ₹)?
36. 36.📊 Revenue or profit: money in before costs? (a) revenue (b) profit
37. 37.🏢 Sole trader or company: run by directors? (a) a sole trader (b) a company
38. 38.A small business sells 57 friendship bands at ₹20 each. Its costs are ₹110. What is its profit (in ₹)?
39. 39.A small business sells 16 potted plants at ₹45 each. Its costs are ₹310. What is its profit (in ₹)?
40. 40.A small business sells 40 cupcakes at ₹40 each. What is its revenue (in ₹)?

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