Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 341 · 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 32 cupcakes at ₹10 each. What is its revenue (in ₹)?
2. 2.🎂 Can a 14-year-old run a business on their own? (a) only at night (b) never ever (c) only with adult help (d) yes, no one needed
3. 3.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
4. 4.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
5. 5.📊 Revenue minus costs equals… (a) revenue (b) stock (c) profit (d) price
6. 6.A small business sells 17 clay diyas at ₹45 each. What is its revenue (in ₹)?
7. 7.A small business selling handmade cards had a revenue of ₹1025 and a profit of ₹645. What were its costs (in ₹)?
8. 8.A small business sells 33 paper bookmarks at ₹10 each. Its costs are ₹200. What is its profit (in ₹)?
9. 9.📊 Revenue or profit: money in before costs? (a) profit (b) revenue
10. 10.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
11. 11.Which of these is true of a sole trader? (a) run by directors (b) a separate legal body (c) owner keeps all profit (d) owned by shareholders
12. 12.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
13. 13.A small business sells 13 cups of lemonade at ₹45 each. What is its revenue (in ₹)?
14. 14.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
15. 15.A small business sells 51 cupcakes at ₹45 each. What is its revenue (in ₹)?
16. 16.🏢 Sole trader or company: a separate legal body? (a) a sole trader (b) a company
17. 17.True or false: “one owner runs it” is true of a company. (a) True (b) False
18. 18.A small business sells 45 cups of lemonade at ₹40 each. What is its revenue (in ₹)?
19. 19.A small business selling clay diyas had a revenue of ₹480 and a profit of ₹260. What were its costs (in ₹)?
20. 20.True or false: “a separate legal body” is true of a sole trader. (a) True (b) False
21. 21.🏢 Sole trader or company: run by directors? (a) a company (b) a sole trader
22. 22.A small business sells 33 fruit cups at ₹35 each. What is its revenue (in ₹)?
23. 23.Which of these is true of a company? (a) owner owes the debts (b) run by directors (c) owner keeps all profit (d) one owner runs it
24. 24.A small business selling cupcakes had a revenue of ₹2750 and a profit of ₹1750. What were its costs (in ₹)?
25. 25.A small business selling cups of lemonade had a revenue of ₹2700 and a profit of ₹710. What were its costs (in ₹)?
26. 26.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
27. 27.🏢 Sole trader or company: owners’ risk is limited? (a) a sole trader (b) a company
28. 28.📊 Revenue or profit: revenue minus costs? (a) profit (b) revenue
29. 29.A small business selling clay diyas had a revenue of ₹480 and a profit of ₹330. What were its costs (in ₹)?
30. 30.A small business selling painted pebbles had a revenue of ₹170 and a profit of ₹90. What were its costs (in ₹)?
31. 31.A small business sells 44 glasses of chai at ₹15 each. What is its revenue (in ₹)?
32. 32.A small business sells 59 bags of popcorn at ₹35 each. Its costs are ₹1150. What is its profit (in ₹)?
33. 33.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
34. 34.👤 A sole trader is… (a) a big company (b) a bank (c) a one-owner business (d) a school club
35. 35.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
36. 36.A small business selling cups of lemonade had a revenue of ₹1400 and a profit of ₹1090. What were its costs (in ₹)?
37. 37.A small business sells 19 cupcakes at ₹45 each. What is its revenue (in ₹)?
38. 38.📜 Who should explain tax or legal rules for a business? (a) a classmate (b) nobody (c) an adult or an expert (d) a random video
39. 39.Which of these is true of a sole trader? (a) a separate legal body (b) owner owes the debts (c) run by directors (d) owned by shareholders
40. 40.🏢 A company is owned by… (a) the government always (b) its customers (c) its suppliers (d) its shareholders

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