Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 382 · 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.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
2. 2.Which of these is true of a company? (a) owner keeps all profit (b) owned by shareholders (c) one owner runs it (d) owner owes the debts
3. 3.🎂 Can a 14-year-old run a business on their own? (a) never ever (b) only at night (c) yes, no one needed (d) only with adult help
4. 4.🏢 Sole trader or company: owner keeps all profit? (a) a sole trader (b) a company
5. 5.Which of these is true of a company? (a) owner keeps all profit (b) simplest to start (c) a separate legal body (d) owner owes the debts
6. 6.A small business sells 48 fruit cups at ₹10 each. Its costs are ₹90. What is its profit (in ₹)?
7. 7.True or false: “one owner runs it” is true of a sole trader. (a) True (b) False
8. 8.A small business sells 37 jute bags at ₹10 each. Its costs are ₹60. What is its profit (in ₹)?
9. 9.True or false: “owner keeps all profit” is true of a sole trader. (a) False (b) True
10. 10.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
11. 11.Which of these is true of a company? (a) simplest to start (b) owner owes the debts (c) owner keeps all profit (d) run by directors
12. 12.Which of these is true of a company? (a) owner keeps all profit (b) one owner runs it (c) owners’ risk is limited (d) owner owes the debts
13. 13.A small business sells 56 cupcakes at ₹5 each. What is its revenue (in ₹)?
14. 14.A small business sells 20 painted pebbles at ₹5 each. Its costs are ₹30. What is its profit (in ₹)?
15. 15.True or false: “owner keeps all profit” is true of a company. (a) True (b) False
16. 16.📊 Revenue minus costs equals… (a) revenue (b) profit (c) stock (d) price
17. 17.📜 Who should explain tax or legal rules for a business? (a) a random video (b) an adult or an expert (c) nobody (d) a classmate
18. 18.📊 Revenue or profit: revenue minus costs? (a) profit (b) revenue
19. 19.📊 Revenue or profit: goes up if costs fall? (a) profit (b) revenue
20. 20.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
21. 21.A small business sells 38 handmade cards at ₹10 each. What is its revenue (in ₹)?
22. 22.🏢 Sole trader or company: simplest to start? (a) a company (b) a sole trader
23. 23.🏢 Sole trader or company: owner owes the debts? (a) a sole trader (b) a company
24. 24.True or false: “owned by shareholders” is true of a sole trader. (a) True (b) False
25. 25.Which of these is true of a sole trader? (a) a separate legal body (b) run by directors (c) one owner runs it (d) owners’ risk is limited
26. 26.A small business sells 16 cups of lemonade at ₹45 each. Its costs are ₹410. What is its profit (in ₹)?
27. 27.A small business sells 31 painted pebbles at ₹10 each. What is its revenue (in ₹)?
28. 28.👤 A sole trader is… (a) a one-owner business (b) a school club (c) a bank (d) a big company
29. 29.A small business sells 45 bags of popcorn at ₹5 each. Its costs are ₹80. What is its profit (in ₹)?
30. 30.📊 Revenue or profit: money in before costs? (a) profit (b) revenue
31. 31.A small business sells 22 jute bags at ₹40 each. What is its revenue (in ₹)?
32. 32.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
33. 33.True or false: “one owner runs it” is true of a company. (a) True (b) False
34. 34.A small business sells 60 bags of popcorn at ₹15 each. What is its revenue (in ₹)?
35. 35.A small business sells 32 cupcakes at ₹35 each. What is its revenue (in ₹)?
36. 36.Which of these is true of a sole trader? (a) run by directors (b) owner keeps all profit (c) a separate legal body (d) owned by shareholders
37. 37.Which of these is true of a sole trader? (a) run by directors (b) a separate legal body (c) owned by shareholders (d) simplest to start
38. 38.🏢 Sole trader or company: run by directors? (a) a sole trader (b) a company
39. 39.A small business sells 14 bags of popcorn at ₹50 each. Its costs are ₹670. What is its profit (in ₹)?
40. 40.A small business sells 34 cups of lemonade at ₹45 each. Its costs are ₹780. What is its profit (in ₹)?

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