Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 325 · 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 16 cupcakes at ₹15 each. Its costs are ₹60. What is its profit (in ₹)?
2. 2.Which of these is true of a sole trader? (a) one owner runs it (b) a separate legal body (c) owners’ risk is limited (d) run by directors
3. 3.True or false: “simplest to start” is true of a company. (a) True (b) False
4. 4.A small business sells 40 handmade cards at ₹20 each. Its costs are ₹480. What is its profit (in ₹)?
5. 5.True or false: “owner owes the debts” is true of a company. (a) False (b) True
6. 6.A small business selling cupcakes had a revenue of ₹205 and a profit of ₹85. What were its costs (in ₹)?
7. 7.A small business sells 25 jute bags at ₹50 each. Its costs are ₹790. What is its profit (in ₹)?
8. 8.True or false: “one owner runs it” is true of a sole trader. (a) True (b) False
9. 9.A small business sells 52 handmade cards at ₹50 each. What is its revenue (in ₹)?
10. 10.🏢 Sole trader or company: owner keeps all profit? (a) a sole trader (b) a company
11. 11.A small business sells 10 friendship bands at ₹5 each. What is its revenue (in ₹)?
12. 12.📊 Revenue or profit: price × number sold? (a) revenue (b) profit
13. 13.📜 Who should explain tax or legal rules for a business? (a) a classmate (b) a random video (c) nobody (d) an adult or an expert
14. 14.True or false: “owners’ risk is limited” is true of a sole trader. (a) True (b) False
15. 15.🏢 Sole trader or company: run by directors? (a) a company (b) a sole trader
16. 16.A small business sells 40 bags of popcorn at ₹50 each. What is its revenue (in ₹)?
17. 17.A small business selling jute bags had a revenue of ₹1320 and a profit of ₹830. What were its costs (in ₹)?
18. 18.A small business sells 24 cupcakes at ₹50 each. What is its revenue (in ₹)?
19. 19.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
20. 20.👤 A sole trader is… (a) a big company (b) a bank (c) a school club (d) a one-owner business
21. 21.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
22. 22.True or false: “simplest to start” is true of a sole trader. (a) True (b) False
23. 23.True or false: “run by directors” is true of a company. (a) False (b) True
24. 24.Which of these is true of a company? (a) owner keeps all profit (b) run by directors (c) owner owes the debts (d) simplest to start
25. 25.A small business sells 12 cupcakes at ₹10 each. What is its revenue (in ₹)?
26. 26.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
27. 27.🎂 Can a 14-year-old run a business on their own? (a) only with adult help (b) yes, no one needed (c) only at night (d) never ever
28. 28.A small business sells 52 fruit cups at ₹25 each. What is its revenue (in ₹)?
29. 29.True or false: “owned by shareholders” is true of a company. (a) False (b) True
30. 30.Which of these is true of a sole trader? (a) owners’ risk is limited (b) owned by shareholders (c) run by directors (d) owner owes the debts
31. 31.📊 Revenue or profit: revenue minus costs? (a) profit (b) revenue
32. 32.Which of these is true of a sole trader? (a) owner keeps all profit (b) a separate legal body (c) owners’ risk is limited (d) run by directors
33. 33.A small business selling fruit cups had a revenue of ₹300 and a profit of ₹160. What were its costs (in ₹)?
34. 34.A small business sells 37 jute bags at ₹45 each. Its costs are ₹480. What is its profit (in ₹)?
35. 35.🏢 Sole trader or company: owners’ risk is limited? (a) a company (b) a sole trader
36. 36.Which of these is true of a company? (a) owner keeps all profit (b) owned by shareholders (c) one owner runs it (d) owner owes the debts
37. 37.A small business sells 42 paper bookmarks at ₹25 each. Its costs are ₹850. What is its profit (in ₹)?
38. 38.A small business sells 31 fruit cups at ₹45 each. Its costs are ₹1240. What is its profit (in ₹)?
39. 39.True or false: “a separate legal body” is true of a sole trader. (a) False (b) True
40. 40.True or false: “one owner runs it” is true of a company. (a) True (b) False

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