Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 386 · 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.📊 Revenue minus costs equals… (a) revenue (b) profit (c) price (d) stock
2. 2.A small business sells 28 potted plants at ₹20 each. Its costs are ₹100. What is its profit (in ₹)?
3. 3.📜 Who should explain tax or legal rules for a business? (a) an adult or an expert (b) a classmate (c) nobody (d) a random video
4. 4.🏢 Sole trader or company: owned by shareholders? (a) a company (b) a sole trader
5. 5.Which of these is true of a sole trader? (a) owned by shareholders (b) one owner runs it (c) owners’ risk is limited (d) run by directors
6. 6.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
7. 7.Which of these is true of a company? (a) owners’ risk is limited (b) simplest to start (c) one owner runs it (d) owner keeps all profit
8. 8.A small business sells 23 potted plants at ₹20 each. Its costs are ₹330. What is its profit (in ₹)?
9. 9.A small business sells 21 fruit cups at ₹15 each. What is its revenue (in ₹)?
10. 10.🏢 Sole trader or company: simplest to start? (a) a sole trader (b) a company
11. 11.A small business sells 19 handmade cards at ₹35 each. Its costs are ₹610. What is its profit (in ₹)?
12. 12.A small business selling glasses of chai had a revenue of ₹235 and a profit of ₹185. What were its costs (in ₹)?
13. 13.Which of these is true of a company? (a) simplest to start (b) run by directors (c) one owner runs it (d) owner keeps all profit
14. 14.🎂 Can a 14-year-old run a business on their own? (a) yes, no one needed (b) only with adult help (c) never ever (d) only at night
15. 15.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
16. 16.Which of these is true of a sole trader? (a) a separate legal body (b) owner owes the debts (c) owned by shareholders (d) owners’ risk is limited
17. 17.👤 A sole trader is… (a) a big company (b) a school club (c) a one-owner business (d) a bank
18. 18.A small business sells 12 glasses of chai at ₹45 each. What is its revenue (in ₹)?
19. 19.True or false: “owner owes the debts” is true of a company. (a) True (b) False
20. 20.Which of these is true of a company? (a) one owner runs it (b) owner keeps all profit (c) simplest to start (d) a separate legal body
21. 21.🏢 A company is owned by… (a) its customers (b) the government always (c) its shareholders (d) its suppliers
22. 22.A small business sells 45 potted plants at ₹20 each. Its costs are ₹30. What is its profit (in ₹)?
23. 23.Which of these is true of a company? (a) simplest to start (b) owner owes the debts (c) owned by shareholders (d) owner keeps all profit
24. 24.True or false: “one owner runs it” is true of a company. (a) True (b) False
25. 25.True or false: “run by directors” is true of a sole trader. (a) False (b) True
26. 26.A small business sells 38 cupcakes at ₹50 each. What is its revenue (in ₹)?
27. 27.Which of these is true of a sole trader? (a) owners’ risk is limited (b) run by directors (c) owner keeps all profit (d) a separate legal body
28. 28.A small business sells 25 potted plants at ₹10 each. What is its revenue (in ₹)?
29. 29.A small business sells 37 clay diyas at ₹20 each. What is its revenue (in ₹)?
30. 30.🏢 Sole trader or company: owner keeps all profit? (a) a sole trader (b) a company
31. 31.🏢 Sole trader or company: a separate legal body? (a) a sole trader (b) a company
32. 32.A small business sells 17 painted pebbles at ₹45 each. What is its revenue (in ₹)?
33. 33.A small business sells 16 cupcakes at ₹50 each. Its costs are ₹360. What is its profit (in ₹)?
34. 34.True or false: “run by directors” is true of a company. (a) False (b) True
35. 35.A small business sells 51 fruit cups at ₹10 each. Its costs are ₹450. What is its profit (in ₹)?
36. 36.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
37. 37.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
38. 38.A small business sells 26 fruit cups at ₹50 each. What is its revenue (in ₹)?
39. 39.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
40. 40.A small business sells 54 jute bags at ₹25 each. Its costs are ₹150. What is its profit (in ₹)?

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