Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 345 · 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 sole trader is… (a) a bank (b) a big company (c) a one-owner business (d) a school club
2. 2.Which of these is true of a company? (a) owner owes the debts (b) owner keeps all profit (c) simplest to start (d) a separate legal body
3. 3.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
4. 4.True or false: “a separate legal body” is true of a company. (a) False (b) True
5. 5.True or false: “one owner runs it” is true of a sole trader. (a) True (b) False
6. 6.📜 Who should explain tax or legal rules for a business? (a) nobody (b) an adult or an expert (c) a random video (d) a classmate
7. 7.📊 Revenue or profit: left after all costs? (a) profit (b) revenue
8. 8.A small business sells 54 glasses of chai at ₹25 each. What is its revenue (in ₹)?
9. 9.A small business sells 19 clay diyas at ₹50 each. Its costs are ₹620. What is its profit (in ₹)?
10. 10.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
11. 11.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
12. 12.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
13. 13.🏢 Sole trader or company: owner keeps all profit? (a) a sole trader (b) a company
14. 14.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
15. 15.🏢 Sole trader or company: owners’ risk is limited? (a) a sole trader (b) a company
16. 16.Which of these is true of a sole trader? (a) one owner runs it (b) a separate legal body (c) run by directors (d) owned by shareholders
17. 17.🏢 Sole trader or company: a separate legal body? (a) a sole trader (b) a company
18. 18.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
19. 19.📊 Revenue or profit: money in before costs? (a) profit (b) revenue
20. 20.A small business sells 55 fruit cups at ₹20 each. Its costs are ₹610. What is its profit (in ₹)?
21. 21.A small business selling cups of lemonade had a revenue of ₹775 and a profit of ₹275. What were its costs (in ₹)?
22. 22.A small business sells 41 jute bags at ₹30 each. What is its revenue (in ₹)?
23. 23.A small business sells 28 glasses of chai at ₹10 each. What is its revenue (in ₹)?
24. 24.A small business selling cupcakes had a revenue of ₹2250 and a profit of ₹400. What were its costs (in ₹)?
25. 25.A small business selling glasses of chai had a revenue of ₹880 and a profit of ₹850. What were its costs (in ₹)?
26. 26.A small business selling cups of lemonade had a revenue of ₹1500 and a profit of ₹1240. What were its costs (in ₹)?
27. 27.A small business selling cups of lemonade had a revenue of ₹460 and a profit of ₹100. What were its costs (in ₹)?
28. 28.🏢 Sole trader or company: owner owes the debts? (a) a sole trader (b) a company
29. 29.True or false: “simplest to start” is true of a company. (a) True (b) False
30. 30.A small business selling cupcakes had a revenue of ₹1300 and a profit of ₹1260. What were its costs (in ₹)?
31. 31.🏢 Sole trader or company: run by directors? (a) a company (b) a sole trader
32. 32.A small business selling cupcakes had a revenue of ₹1710 and a profit of ₹940. What were its costs (in ₹)?
33. 33.True or false: “owner keeps all profit” is true of a company. (a) False (b) True
34. 34.A small business sells 50 bags of popcorn at ₹5 each. Its costs are ₹150. What is its profit (in ₹)?
35. 35.📊 Revenue minus costs equals… (a) stock (b) revenue (c) profit (d) price
36. 36.A small business sells 52 handmade cards at ₹15 each. Its costs are ₹390. What is its profit (in ₹)?
37. 37.A small business sells 13 clay diyas at ₹25 each. Its costs are ₹200. What is its profit (in ₹)?
38. 38.A small business sells 33 bags of popcorn at ₹5 each. What is its revenue (in ₹)?
39. 39.A small business sells 40 bags of popcorn at ₹15 each. What is its revenue (in ₹)?
40. 40.Which of these is true of a sole trader? (a) owners’ risk is limited (b) a separate legal body (c) owner owes the debts (d) run by directors

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