Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 32 · 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.Which of these is true of a company? (a) run by directors (b) owner owes the debts (c) owner keeps all profit (d) simplest to start
2. 2.A small business sells 55 paper bookmarks at ₹5 each. What is its revenue (in ₹)?
3. 3.📊 Revenue or profit: money in before costs? (a) revenue (b) profit
4. 4.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
5. 5.🏢 A company is owned by… (a) the government always (b) its shareholders (c) its customers (d) its suppliers
6. 6.A small business sells 36 paper bookmarks at ₹15 each. Its costs are ₹260. What is its profit (in ₹)?
7. 7.True or false: “a separate legal body” is true of a company. (a) False (b) True
8. 8.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
9. 9.A small business selling paper bookmarks had a revenue of ₹1040 and a profit of ₹220. What were its costs (in ₹)?
10. 10.🏢 Sole trader or company: simplest to start? (a) a sole trader (b) a company
11. 11.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
12. 12.Which of these is true of a sole trader? (a) owners’ risk is limited (b) owner owes the debts (c) run by directors (d) owned by shareholders
13. 13.📊 Revenue minus costs equals… (a) revenue (b) profit (c) price (d) stock
14. 14.A small business sells 23 bags of popcorn at ₹30 each. Its costs are ₹610. What is its profit (in ₹)?
15. 15.Which of these is true of a sole trader? (a) a separate legal body (b) owners’ risk is limited (c) run by directors (d) one owner runs it
16. 16.📊 Revenue or profit: left after all costs? (a) profit (b) revenue
17. 17.True or false: “simplest to start” is true of a sole trader. (a) True (b) False
18. 18.True or false: “one owner runs it” is true of a sole trader. (a) False (b) True
19. 19.🏢 Sole trader or company: owned by shareholders? (a) a company (b) a sole trader
20. 20.A small business selling cups of lemonade had a revenue of ₹510 and a profit of ₹380. What were its costs (in ₹)?
21. 21.Which of these is true of a sole trader? (a) owned by shareholders (b) owner keeps all profit (c) owners’ risk is limited (d) run by directors
22. 22.A small business selling handmade cards had a revenue of ₹600 and a profit of ₹280. What were its costs (in ₹)?
23. 23.A small business sells 56 fruit cups at ₹40 each. Its costs are ₹1620. What is its profit (in ₹)?
24. 24.Which of these is true of a company? (a) owner owes the debts (b) one owner runs it (c) a separate legal body (d) owner keeps all profit
25. 25.📜 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
26. 26.A small business selling glasses of chai had a revenue of ₹1100 and a profit of ₹320. What were its costs (in ₹)?
27. 27.True or false: “owned by shareholders” is true of a sole trader. (a) False (b) True
28. 28.🏢 Sole trader or company: run by directors? (a) a company (b) a sole trader
29. 29.A small business sells 33 glasses of chai at ₹30 each. Its costs are ₹380. What is its profit (in ₹)?
30. 30.A small business sells 10 friendship bands at ₹25 each. Its costs are ₹230. What is its profit (in ₹)?
31. 31.A small business sells 11 bags of popcorn at ₹15 each. What is its revenue (in ₹)?
32. 32.A small business sells 23 glasses of chai at ₹30 each. What is its revenue (in ₹)?
33. 33.A small business sells 31 bags of popcorn at ₹15 each. What is its revenue (in ₹)?
34. 34.A small business sells 46 jute bags at ₹5 each. What is its revenue (in ₹)?
35. 35.A small business sells 58 fruit cups at ₹50 each. Its costs are ₹690. What is its profit (in ₹)?
36. 36.👤 A sole trader is… (a) a one-owner business (b) a bank (c) a big company (d) a school club
37. 37.A small business sells 31 jute bags at ₹20 each. Its costs are ₹60. What is its profit (in ₹)?
38. 38.A small business sells 32 bags of popcorn at ₹40 each. Its costs are ₹330. What is its profit (in ₹)?
39. 39.A small business sells 13 clay diyas at ₹30 each. Its costs are ₹10. What is its profit (in ₹)?
40. 40.A small business sells 46 clay diyas at ₹25 each. What is its revenue (in ₹)?

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