Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 372 · 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 36 bags of popcorn at ₹15 each. What is its revenue (in ₹)?
2. 2.A small business sells 16 friendship bands at ₹40 each. Its costs are ₹420. What is its profit (in ₹)?
3. 3.A small business sells 51 friendship bands at ₹50 each. Its costs are ₹1320. What is its profit (in ₹)?
4. 4.A small business sells 11 potted plants at ₹35 each. Its costs are ₹60. What is its profit (in ₹)?
5. 5.Which of these is true of a sole trader? (a) owned by shareholders (b) owners’ risk is limited (c) a separate legal body (d) simplest to start
6. 6.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
7. 7.🏢 Sole trader or company: owned by shareholders? (a) a company (b) a sole trader
8. 8.A small business sells 35 friendship bands at ₹5 each. What is its revenue (in ₹)?
9. 9.🏢 A company is owned by… (a) its shareholders (b) its suppliers (c) its customers (d) the government always
10. 10.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
11. 11.A small business sells 14 handmade cards at ₹40 each. What is its revenue (in ₹)?
12. 12.📊 Revenue or profit: money in before costs? (a) revenue (b) profit
13. 13.Which of these is true of a sole trader? (a) owners’ risk is limited (b) run by directors (c) owned by shareholders (d) one owner runs it
14. 14.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
15. 15.Which of these is true of a sole trader? (a) owners’ risk is limited (b) run by directors (c) owned by shareholders (d) owner keeps all profit
16. 16.A small business sells 39 fruit cups at ₹50 each. What is its revenue (in ₹)?
17. 17.🏢 Sole trader or company: a separate legal body? (a) a sole trader (b) a company
18. 18.🎂 Can a 14-year-old run a business on their own? (a) yes, no one needed (b) never ever (c) only at night (d) only with adult help
19. 19.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
20. 20.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
21. 21.True or false: “owned by shareholders” is true of a sole trader. (a) True (b) False
22. 22.Which of these is true of a company? (a) owner keeps all profit (b) a separate legal body (c) one owner runs it (d) owner owes the debts
23. 23.A small business sells 38 jute bags at ₹40 each. What is its revenue (in ₹)?
24. 24.True or false: “owner owes the debts” is true of a company. (a) False (b) True
25. 25.A small business sells 14 paper bookmarks at ₹15 each. What is its revenue (in ₹)?
26. 26.A small business sells 32 fruit cups at ₹10 each. Its costs are ₹60. What is its profit (in ₹)?
27. 27.📜 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
28. 28.A small business selling bags of popcorn had a revenue of ₹700 and a profit of ₹600. What were its costs (in ₹)?
29. 29.A small business sells 59 painted pebbles at ₹25 each. Its costs are ₹470. What is its profit (in ₹)?
30. 30.A small business sells 13 fruit cups at ₹10 each. Its costs are ₹60. What is its profit (in ₹)?
31. 31.A small business sells 25 bags of popcorn at ₹25 each. What is its revenue (in ₹)?
32. 32.🏢 Sole trader or company: owners’ risk is limited? (a) a company (b) a sole trader
33. 33.Which of these is true of a company? (a) one owner runs it (b) owner keeps all profit (c) owned by shareholders (d) owner owes the debts
34. 34.A small business sells 29 handmade cards at ₹45 each. Its costs are ₹920. What is its profit (in ₹)?
35. 35.🏢 Sole trader or company: simplest to start? (a) a sole trader (b) a company
36. 36.👤 A sole trader is… (a) a one-owner business (b) a school club (c) a big company (d) a bank
37. 37.A small business sells 52 glasses of chai at ₹50 each. Its costs are ₹990. What is its profit (in ₹)?
38. 38.A small business sells 11 glasses of chai at ₹35 each. What is its revenue (in ₹)?
39. 39.True or false: “owner keeps all profit” is true of a sole trader. (a) False (b) True
40. 40.A small business sells 44 glasses of chai at ₹5 each. What is its revenue (in ₹)?

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