Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 344 · 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) simplest to start (b) owner keeps all profit (c) owned by shareholders (d) one owner runs it
2. 2.A small business sells 34 handmade cards at ₹30 each. Its costs are ₹50. What is its profit (in ₹)?
3. 3.A small business sells 21 paper bookmarks at ₹15 each. What is its revenue (in ₹)?
4. 4.👤 A sole trader is… (a) a bank (b) a school club (c) a big company (d) a one-owner business
5. 5.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
6. 6.True or false: “run by directors” is true of a company. (a) False (b) True
7. 7.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
8. 8.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
9. 9.A small business sells 10 glasses of chai at ₹50 each. What is its revenue (in ₹)?
10. 10.🏢 A company is owned by… (a) its customers (b) its shareholders (c) the government always (d) its suppliers
11. 11.Which of these is true of a sole trader? (a) a separate legal body (b) one owner runs it (c) run by directors (d) owned by shareholders
12. 12.🏢 Sole trader or company: a separate legal body? (a) a sole trader (b) a company
13. 13.🏢 Sole trader or company: run by directors? (a) a sole trader (b) a company
14. 14.A small business selling fruit cups had a revenue of ₹270 and a profit of ₹150. What were its costs (in ₹)?
15. 15.🏢 Sole trader or company: simplest to start? (a) a sole trader (b) a company
16. 16.A small business sells 50 painted pebbles at ₹10 each. Its costs are ₹320. What is its profit (in ₹)?
17. 17.True or false: “owned by shareholders” is true of a sole trader. (a) True (b) False
18. 18.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
19. 19.True or false: “owned by shareholders” is true of a company. (a) True (b) False
20. 20.A small business sells 32 cups of lemonade at ₹45 each. What is its revenue (in ₹)?
21. 21.Which of these is true of a sole trader? (a) run by directors (b) owned by shareholders (c) simplest to start (d) a separate legal body
22. 22.A small business sells 23 potted plants at ₹10 each. Its costs are ₹40. What is its profit (in ₹)?
23. 23.A small business sells 21 handmade cards at ₹5 each. What is its revenue (in ₹)?
24. 24.Which of these is true of a company? (a) simplest to start (b) a separate legal body (c) owner keeps all profit (d) owner owes the debts
25. 25.A small business sells 18 cups of lemonade at ₹35 each. What is its revenue (in ₹)?
26. 26.🎂 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
27. 27.A small business sells 12 handmade cards at ₹30 each. Its costs are ₹50. What is its profit (in ₹)?
28. 28.True or false: “owner keeps all profit” is true of a company. (a) True (b) False
29. 29.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
30. 30.A small business sells 53 clay diyas at ₹5 each. What is its revenue (in ₹)?
31. 31.A small business sells 39 glasses of chai at ₹15 each. What is its revenue (in ₹)?
32. 32.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
33. 33.A small business sells 18 paper bookmarks at ₹40 each. What is its revenue (in ₹)?
34. 34.A small business selling paper bookmarks had a revenue of ₹2300 and a profit of ₹2290. What were its costs (in ₹)?
35. 35.Which of these is true of a sole trader? (a) run by directors (b) a separate legal body (c) owner owes the debts (d) owners’ risk is limited
36. 36.A small business sells 49 friendship bands at ₹30 each. What is its revenue (in ₹)?
37. 37.A small business sells 55 glasses of chai at ₹35 each. What is its revenue (in ₹)?
38. 38.A small business sells 33 glasses of chai at ₹10 each. Its costs are ₹210. What is its profit (in ₹)?
39. 39.A small business selling cupcakes had a revenue of ₹130 and a profit of ₹90. What were its costs (in ₹)?
40. 40.A small business sells 10 friendship bands at ₹25 each. Its costs are ₹210. What is its profit (in ₹)?

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