Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 326 · 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 48 painted pebbles at ₹35 each. What is its revenue (in ₹)?
2. 2.🏢 Sole trader or company: owner keeps all profit? (a) a sole trader (b) a company
3. 3.🏢 A company is owned by… (a) its suppliers (b) its customers (c) its shareholders (d) the government always
4. 4.A small business sells 53 bags of popcorn at ₹15 each. Its costs are ₹250. What is its profit (in ₹)?
5. 5.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
6. 6.A small business sells 35 painted pebbles at ₹45 each. Its costs are ₹720. What is its profit (in ₹)?
7. 7.A small business sells 35 clay diyas at ₹20 each. Its costs are ₹150. What is its profit (in ₹)?
8. 8.A small business sells 21 cups of lemonade at ₹40 each. What is its revenue (in ₹)?
9. 9.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
10. 10.A small business sells 34 friendship bands at ₹5 each. What is its revenue (in ₹)?
11. 11.A small business sells 11 glasses of chai at ₹20 each. What is its revenue (in ₹)?
12. 12.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
13. 13.True or false: “run by directors” is true of a sole trader. (a) True (b) False
14. 14.Which of these is true of a company? (a) owner keeps all profit (b) simplest to start (c) a separate legal body (d) one owner runs it
15. 15.True or false: “owner owes the debts” is true of a sole trader. (a) False (b) True
16. 16.Which of these is true of a sole trader? (a) owned by shareholders (b) one owner runs it (c) owners’ risk is limited (d) a separate legal body
17. 17.A small business sells 13 potted plants at ₹35 each. Its costs are ₹120. What is its profit (in ₹)?
18. 18.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
19. 19.Which of these is true of a sole trader? (a) owned by shareholders (b) a separate legal body (c) run by directors (d) simplest to start
20. 20.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
21. 21.Which of these is true of a company? (a) owner owes the debts (b) one owner runs it (c) owned by shareholders (d) simplest to start
22. 22.A small business sells 24 clay diyas at ₹15 each. What is its revenue (in ₹)?
23. 23.A small business sells 44 clay diyas at ₹30 each. Its costs are ₹650. What is its profit (in ₹)?
24. 24.📊 Revenue minus costs equals… (a) stock (b) profit (c) price (d) revenue
25. 25.True or false: “one owner runs it” is true of a company. (a) True (b) False
26. 26.A small business selling handmade cards had a revenue of ₹480 and a profit of ₹460. What were its costs (in ₹)?
27. 27.True or false: “a separate legal body” is true of a sole trader. (a) False (b) True
28. 28.🎂 Can a 14-year-old run a business on their own? (a) never ever (b) yes, no one needed (c) only at night (d) only with adult help
29. 29.A small business sells 48 glasses of chai at ₹15 each. What is its revenue (in ₹)?
30. 30.A small business sells 12 friendship bands at ₹40 each. What is its revenue (in ₹)?
31. 31.A small business sells 14 fruit cups at ₹10 each. What is its revenue (in ₹)?
32. 32.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
33. 33.A small business sells 52 glasses of chai at ₹40 each. What is its revenue (in ₹)?
34. 34.📊 Revenue or profit: money in before costs? (a) profit (b) revenue
35. 35.A small business sells 23 jute bags at ₹35 each. Its costs are ₹40. What is its profit (in ₹)?
36. 36.A small business selling friendship bands had a revenue of ₹980 and a profit of ₹560. What were its costs (in ₹)?
37. 37.📜 Who should explain tax or legal rules for a business? (a) nobody (b) an adult or an expert (c) a classmate (d) a random video
38. 38.🏢 Sole trader or company: owners’ risk is limited? (a) a company (b) a sole trader
39. 39.True or false: “owner keeps all profit” is true of a company. (a) False (b) True
40. 40.🏢 Sole trader or company: simplest to start? (a) a company (b) a sole trader

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