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Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 389 · 40 questions
TalentJR

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.

NameDateTime takenScore ___ / 40
  1. 1.📜 Who should explain tax or legal rules for a business? (a) a random video (b) a classmate (c) nobody (d) an adult or an expert
  2. 2.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
  3. 3.A small business selling glasses of chai had a revenue of ₹1200 and a profit of ₹850. What were its costs (in ₹)?
  4. 4.A small business selling potted plants had a revenue of ₹1400 and a profit of ₹200. What were its costs (in ₹)?
  5. 5.🏢 Sole trader or company: a separate legal body? (a) a sole trader (b) a company
  6. 6.🏢 Sole trader or company: owner owes the debts? (a) a sole trader (b) a company
  7. 7.A small business sells 15 jute bags at ₹40 each. What is its revenue (in ₹)?
  8. 8.A small business sells 19 fruit cups at ₹10 each. What is its revenue (in ₹)?
  9. 9.A small business sells 24 cups of lemonade at ₹35 each. Its costs are ₹590. What is its profit (in ₹)?
  10. 10.A small business sells 27 clay diyas at ₹20 each. Its costs are ₹90. What is its profit (in ₹)?
  11. 11.Which of these is true of a sole trader? (a) a separate legal body (b) run by directors (c) owners’ risk is limited (d) one owner runs it
  12. 12.🏢 A company is owned by… (a) its suppliers (b) its customers (c) the government always (d) its shareholders
  13. 13.A small business selling handmade cards had a revenue of ₹1700 and a profit of ₹1400. What were its costs (in ₹)?
  14. 14.A small business selling fruit cups had a revenue of ₹1620 and a profit of ₹610. What were its costs (in ₹)?
  15. 15.📊 Revenue or profit: money in before costs? (a) revenue (b) profit
  16. 16.👤 A sole trader is… (a) a big company (b) a one-owner business (c) a school club (d) a bank
  17. 17.Which of these is true of a sole trader? (a) run by directors (b) owners’ risk is limited (c) owned by shareholders (d) owner keeps all profit
  18. 18.True or false: “owner owes the debts” is true of a company. (a) True (b) False
  19. 19.A small business sells 23 cupcakes at ₹35 each. What is its revenue (in ₹)?
  20. 20.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
  21. 21.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
  22. 22.A small business selling clay diyas had a revenue of ₹775 and a profit of ₹465. What were its costs (in ₹)?
  23. 23.A small business sells 19 clay diyas at ₹45 each. What is its revenue (in ₹)?
  24. 24.Which of these is true of a company? (a) owner keeps all profit (b) one owner runs it (c) owners’ risk is limited (d) simplest to start
  25. 25.A small business selling clay diyas had a revenue of ₹380 and a profit of ₹50. What were its costs (in ₹)?
  26. 26.🏢 Sole trader or company: run by directors? (a) a sole trader (b) a company
  27. 27.A small business selling bags of popcorn had a revenue of ₹990 and a profit of ₹90. What were its costs (in ₹)?
  28. 28.A small business sells 41 painted pebbles at ₹5 each. Its costs are ₹60. What is its profit (in ₹)?
  29. 29.📊 Revenue minus costs equals… (a) profit (b) price (c) stock (d) revenue
  30. 30.A small business sells 56 friendship bands at ₹25 each. Its costs are ₹1350. What is its profit (in ₹)?
  31. 31.A small business selling handmade cards had a revenue of ₹1020 and a profit of ₹930. What were its costs (in ₹)?
  32. 32.A small business selling potted plants had a revenue of ₹60 and a profit of ₹50. What were its costs (in ₹)?
  33. 33.A small business sells 37 glasses of chai at ₹20 each. Its costs are ₹10. What is its profit (in ₹)?
  34. 34.A small business sells 47 jute bags at ₹10 each. What is its revenue (in ₹)?
  35. 35.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
  36. 36.A small business sells 16 clay diyas at ₹40 each. What is its revenue (in ₹)?
  37. 37.A small business sells 59 bags of popcorn at ₹25 each. What is its revenue (in ₹)?
  38. 38.True or false: “run by directors” is true of a sole trader. (a) False (b) True
  39. 39.A small business sells 22 bags of popcorn at ₹15 each. What is its revenue (in ₹)?
  40. 40.True or false: “one owner runs it” is true of a sole trader. (a) False (b) True

Answer key

  1. an adult or an expert
  2. profit
  3. 350
  4. 1200
  5. a company
  6. a sole trader
  7. 600
  8. 190
  9. 250
  10. 450
  11. one owner runs it
  12. its shareholders
  13. 300
  14. 1010
  15. revenue
  16. a one-owner business
  17. owner keeps all profit
  18. False
  19. 805
  20. profit
  21. a company
  22. 310
  23. 855
  24. owners’ risk is limited
  25. 330
  26. a company
  27. 900
  28. 145
  29. profit
  30. 50
  31. 90
  32. 10
  33. 730
  34. 470
  35. revenue
  36. 640
  37. 1475
  38. False
  39. 330
  40. True

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