Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 314 · 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.True or false: “run by directors” is true of a sole trader. (a) True (b) False
2. 2.A small business sells 49 bags of popcorn at ₹35 each. Its costs are ₹580. What is its profit (in ₹)?
3. 3.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
4. 4.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
5. 5.A small business sells 52 glasses of chai at ₹5 each. What is its revenue (in ₹)?
6. 6.📜 Who should explain tax or legal rules for a business? (a) an adult or an expert (b) a classmate (c) a random video (d) nobody
7. 7.True or false: “owner keeps all profit” is true of a company. (a) True (b) False
8. 8.A small business selling cups of lemonade had a revenue of ₹540 and a profit of ₹310. What were its costs (in ₹)?
9. 9.A small business sells 48 cups of lemonade at ₹35 each. Its costs are ₹580. What is its profit (in ₹)?
10. 10.Which of these is true of a sole trader? (a) owner keeps all profit (b) run by directors (c) a separate legal body (d) owned by shareholders
11. 11.🏢 A company is owned by… (a) its customers (b) the government always (c) its shareholders (d) its suppliers
12. 12.A small business sells 45 potted plants at ₹10 each. Its costs are ₹40. What is its profit (in ₹)?
13. 13.A small business selling fruit cups had a revenue of ₹100 and a profit of ₹90. What were its costs (in ₹)?
14. 14.A small business selling potted plants had a revenue of ₹1715 and a profit of ₹465. What were its costs (in ₹)?
15. 15.A small business selling potted plants had a revenue of ₹795 and a profit of ₹665. What were its costs (in ₹)?
16. 16.A small business sells 53 cups of lemonade at ₹15 each. What is its revenue (in ₹)?
17. 17.📊 Revenue or profit: money in before costs? (a) profit (b) revenue
18. 18.A small business sells 12 clay diyas at ₹35 each. Its costs are ₹110. What is its profit (in ₹)?
19. 19.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
20. 20.True or false: “simplest to start” is true of a sole trader. (a) True (b) False
21. 21.A small business sells 46 painted pebbles at ₹50 each. Its costs are ₹320. What is its profit (in ₹)?
22. 22.A small business selling handmade cards had a revenue of ₹160 and a profit of ₹140. What were its costs (in ₹)?
23. 23.Which of these is true of a company? (a) simplest to start (b) owner owes the debts (c) one owner runs it (d) owned by shareholders
24. 24.🎂 Can a 14-year-old run a business on their own? (a) only at night (b) yes, no one needed (c) only with adult help (d) never ever
25. 25.Which of these is true of a sole trader? (a) run by directors (b) simplest to start (c) owners’ risk is limited (d) a separate legal body
26. 26.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
27. 27.True or false: “a separate legal body” is true of a sole trader. (a) False (b) True
28. 28.A small business sells 37 jute bags at ₹10 each. Its costs are ₹220. What is its profit (in ₹)?
29. 29.Which of these is true of a sole trader? (a) owners’ risk is limited (b) run by directors (c) a separate legal body (d) one owner runs it
30. 30.A small business sells 11 clay diyas at ₹5 each. What is its revenue (in ₹)?
31. 31.📊 Revenue or profit: price × number sold? (a) revenue (b) profit
32. 32.A small business selling clay diyas had a revenue of ₹1710 and a profit of ₹330. What were its costs (in ₹)?
33. 33.True or false: “a separate legal body” is true of a company. (a) True (b) False
34. 34.A small business sells 21 painted pebbles at ₹10 each. What is its revenue (in ₹)?
35. 35.🏢 Sole trader or company: owner keeps all profit? (a) a sole trader (b) a company
36. 36.A small business sells 14 potted plants at ₹5 each. Its costs are ₹20. What is its profit (in ₹)?
37. 37.A small business sells 23 bags of popcorn at ₹10 each. Its costs are ₹40. What is its profit (in ₹)?
38. 38.🏢 Sole trader or company: owners’ risk is limited? (a) a company (b) a sole trader
39. 39.A small business sells 30 cups of lemonade at ₹50 each. What is its revenue (in ₹)?
40. 40.📊 Revenue or profit: left after all costs? (a) profit (b) revenue

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