Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 40 · 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.🎂 Can a 14-year-old run a business on their own? (a) only with adult help (b) only at night (c) yes, no one needed (d) never ever
2. 2.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
3. 3.A small business selling handmade cards had a revenue of ₹700 and a profit of ₹470. What were its costs (in ₹)?
4. 4.A small business selling painted pebbles had a revenue of ₹2205 and a profit of ₹385. What were its costs (in ₹)?
5. 5.📊 Revenue or profit: goes up if costs fall? (a) profit (b) revenue
6. 6.A small business selling fruit cups had a revenue of ₹1160 and a profit of ₹940. What were its costs (in ₹)?
7. 7.🏢 A company is owned by… (a) its shareholders (b) its suppliers (c) its customers (d) the government always
8. 8.A small business sells 11 cups of lemonade at ₹30 each. Its costs are ₹150. What is its profit (in ₹)?
9. 9.📊 Revenue minus costs equals… (a) revenue (b) price (c) profit (d) stock
10. 10.Which of these is true of a company? (a) simplest to start (b) owner keeps all profit (c) owner owes the debts (d) owners’ risk is limited
11. 11.A small business selling bags of popcorn had a revenue of ₹720 and a profit of ₹80. What were its costs (in ₹)?
12. 12.🏢 Sole trader or company: owners’ risk is limited? (a) a sole trader (b) a company
13. 13.A small business sells 30 cups of lemonade at ₹15 each. What is its revenue (in ₹)?
14. 14.Which of these is true of a sole trader? (a) owned by shareholders (b) run by directors (c) one owner runs it (d) a separate legal body
15. 15.A small business sells 26 cupcakes at ₹10 each. What is its revenue (in ₹)?
16. 16.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
17. 17.🏢 Sole trader or company: owned by shareholders? (a) a company (b) a sole trader
18. 18.A small business selling cups of lemonade had a revenue of ₹110 and a profit of ₹10. What were its costs (in ₹)?
19. 19.👤 A sole trader is… (a) a big company (b) a school club (c) a one-owner business (d) a bank
20. 20.A small business sells 48 jute bags at ₹5 each. Its costs are ₹150. What is its profit (in ₹)?
21. 21.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
22. 22.Which of these is true of a sole trader? (a) owned by shareholders (b) owner keeps all profit (c) a separate legal body (d) run by directors
23. 23.A small business sells 31 glasses of chai at ₹5 each. What is its revenue (in ₹)?
24. 24.Which of these is true of a company? (a) owner keeps all profit (b) owned by shareholders (c) owner owes the debts (d) simplest to start
25. 25.A small business selling paper bookmarks had a revenue of ₹950 and a profit of ₹380. What were its costs (in ₹)?
26. 26.True or false: “a separate legal body” is true of a sole trader. (a) False (b) True
27. 27.A small business sells 53 glasses of chai at ₹20 each. What is its revenue (in ₹)?
28. 28.A small business sells 25 cups of lemonade at ₹5 each. Its costs are ₹90. What is its profit (in ₹)?
29. 29.📜 Who should explain tax or legal rules for a business? (a) nobody (b) a random video (c) an adult or an expert (d) a classmate
30. 30.📊 Revenue or profit: money in before costs? (a) profit (b) revenue
31. 31.A small business sells 14 painted pebbles at ₹25 each. What is its revenue (in ₹)?
32. 32.🏢 Sole trader or company: simplest to start? (a) a company (b) a sole trader
33. 33.🏢 Sole trader or company: a separate legal body? (a) a sole trader (b) a company
34. 34.True or false: “one owner runs it” is true of a sole trader. (a) False (b) True
35. 35.🏢 Sole trader or company: owner keeps all profit? (a) a sole trader (b) a company
36. 36.A small business sells 11 cups of lemonade at ₹35 each. What is its revenue (in ₹)?
37. 37.A small business sells 31 cupcakes at ₹15 each. Its costs are ₹450. What is its profit (in ₹)?
38. 38.True or false: “owners’ risk is limited” is true of a company. (a) False (b) True
39. 39.🏢 Sole trader or company: owner owes the debts? (a) a sole trader (b) a company
40. 40.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company

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