Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 426 · 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 or profit: revenue minus costs? (a) revenue (b) profit
2. 2.A small business sells 32 glasses of chai at ₹25 each. What is its revenue (in ₹)?
3. 3.A small business selling glasses of chai had a revenue of ₹340 and a profit of ₹150. What were its costs (in ₹)?
4. 4.🏢 Sole trader or company: run by directors? (a) a company (b) a sole trader
5. 5.A small business sells 22 paper bookmarks at ₹35 each. What is its revenue (in ₹)?
6. 6.🏢 Sole trader or company: owner keeps all profit? (a) a sole trader (b) a company
7. 7.🏢 Sole trader or company: simplest to start? (a) a sole trader (b) a company
8. 8.A small business sells 26 cups of lemonade at ₹50 each. What is its revenue (in ₹)?
9. 9.Which of these is true of a company? (a) simplest to start (b) one owner runs it (c) owner owes the debts (d) run by directors
10. 10.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
11. 11.📊 Revenue or profit: money in before costs? (a) revenue (b) profit
12. 12.Which of these is true of a sole trader? (a) a separate legal body (b) run by directors (c) owner owes the debts (d) owned by shareholders
13. 13.📊 Revenue or profit: left after all costs? (a) profit (b) revenue
14. 14.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
15. 15.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
16. 16.📊 Revenue or profit: price × number sold? (a) revenue (b) profit
17. 17.A small business sells 21 friendship bands at ₹15 each. What is its revenue (in ₹)?
18. 18.🏢 Sole trader or company: owners’ risk is limited? (a) a company (b) a sole trader
19. 19.A small business selling potted plants had a revenue of ₹2115 and a profit of ₹105. What were its costs (in ₹)?
20. 20.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
21. 21.📊 Revenue or profit: goes up if costs fall? (a) profit (b) revenue
22. 22.Which of these is true of a company? (a) owner owes the debts (b) one owner runs it (c) owner keeps all profit (d) owners’ risk is limited
23. 23.A small business sells 45 clay diyas at ₹50 each. What is its revenue (in ₹)?
24. 24.Which of these is true of a sole trader? (a) owned by shareholders (b) owner keeps all profit (c) a separate legal body (d) owners’ risk is limited
25. 25.A small business sells 31 friendship bands at ₹5 each. Its costs are ₹70. What is its profit (in ₹)?
26. 26.👤 A sole trader is… (a) a bank (b) a one-owner business (c) a school club (d) a big company
27. 27.A small business sells 25 paper bookmarks at ₹40 each. What is its revenue (in ₹)?
28. 28.True or false: “owned by shareholders” is true of a company. (a) False (b) True
29. 29.📊 Revenue minus costs equals… (a) stock (b) price (c) profit (d) revenue
30. 30.A small business selling bags of popcorn had a revenue of ₹245 and a profit of ₹125. What were its costs (in ₹)?
31. 31.A small business sells 51 friendship bands at ₹50 each. What is its revenue (in ₹)?
32. 32.A small business sells 23 cups of lemonade at ₹40 each. What is its revenue (in ₹)?
33. 33.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
34. 34.A small business sells 12 bags of popcorn at ₹40 each. What is its revenue (in ₹)?
35. 35.🏢 A company is owned by… (a) its customers (b) its shareholders (c) its suppliers (d) the government always
36. 36.Which of these is true of a company? (a) owner owes the debts (b) owned by shareholders (c) one owner runs it (d) simplest to start
37. 37.True or false: “run by directors” is true of a sole trader. (a) True (b) False
38. 38.A small business selling clay diyas had a revenue of ₹1820 and a profit of ₹370. What were its costs (in ₹)?
39. 39.A small business sells 30 paper bookmarks at ₹15 each. What is its revenue (in ₹)?
40. 40.A small business sells 10 friendship bands at ₹35 each. Its costs are ₹170. What is its profit (in ₹)?

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