Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 427 · 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.A small business sells 25 potted plants at ₹50 each. Its costs are ₹350. What is its profit (in ₹)?
2. 2.📜 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
3. 3.A small business sells 54 potted plants at ₹35 each. What is its revenue (in ₹)?
4. 4.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
5. 5.🏢 Sole trader or company: run by directors? (a) a sole trader (b) a company
6. 6.A small business sells 37 friendship bands at ₹35 each. What is its revenue (in ₹)?
7. 7.Which of these is true of a company? (a) owners’ risk is limited (b) owner keeps all profit (c) one owner runs it (d) simplest to start
8. 8.📊 Revenue minus costs equals… (a) price (b) stock (c) profit (d) revenue
9. 9.Which of these is true of a company? (a) run by directors (b) simplest to start (c) owner owes the debts (d) one owner runs it
10. 10.👤 A sole trader is… (a) a bank (b) a school club (c) a one-owner business (d) a big company
11. 11.🏢 A company is owned by… (a) its shareholders (b) its customers (c) its suppliers (d) the government always
12. 12.A small business selling jute bags had a revenue of ₹810 and a profit of ₹600. What were its costs (in ₹)?
13. 13.Which of these is true of a sole trader? (a) one owner runs it (b) run by directors (c) owners’ risk is limited (d) owned by shareholders
14. 14.A small business sells 13 paper bookmarks at ₹30 each. Its costs are ₹50. What is its profit (in ₹)?
15. 15.True or false: “owner owes the debts” is true of a company. (a) True (b) False
16. 16.Which of these is true of a sole trader? (a) owners’ risk is limited (b) a separate legal body (c) owner keeps all profit (d) owned by shareholders
17. 17.A small business sells 12 bags of popcorn at ₹45 each. What is its revenue (in ₹)?
18. 18.🏢 Sole trader or company: owners’ risk is limited? (a) a sole trader (b) a company
19. 19.True or false: “owner keeps all profit” is true of a sole trader. (a) True (b) False
20. 20.🏢 Sole trader or company: a separate legal body? (a) a sole trader (b) a company
21. 21.True or false: “run by directors” is true of a sole trader. (a) True (b) False
22. 22.A small business sells 36 bags of popcorn at ₹5 each. Its costs are ₹20. What is its profit (in ₹)?
23. 23.A small business sells 15 bags of popcorn at ₹15 each. What is its revenue (in ₹)?
24. 24.A small business sells 48 cups of lemonade at ₹20 each. What is its revenue (in ₹)?
25. 25.A small business sells 25 bags of popcorn at ₹20 each. What is its revenue (in ₹)?
26. 26.A small business sells 31 cupcakes at ₹20 each. Its costs are ₹190. What is its profit (in ₹)?
27. 27.Which of these is true of a sole trader? (a) owners’ risk is limited (b) a separate legal body (c) owner owes the debts (d) run by directors
28. 28.📊 Revenue or profit: revenue minus costs? (a) profit (b) revenue
29. 29.A small business sells 55 glasses of chai at ₹30 each. Its costs are ₹410. What is its profit (in ₹)?
30. 30.📊 Revenue or profit: money in before costs? (a) profit (b) revenue
31. 31.A small business sells 52 cupcakes at ₹30 each. What is its revenue (in ₹)?
32. 32.True or false: “owner owes the debts” is true of a sole trader. (a) False (b) True
33. 33.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
34. 34.A small business sells 48 handmade cards at ₹35 each. Its costs are ₹380. What is its profit (in ₹)?
35. 35.A small business sells 26 cups of lemonade at ₹45 each. What is its revenue (in ₹)?
36. 36.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
37. 37.A small business sells 18 handmade cards at ₹40 each. What is its revenue (in ₹)?
38. 38.🏢 Sole trader or company: owned by shareholders? (a) a company (b) a sole trader
39. 39.📊 Revenue or profit: price × number sold? (a) revenue (b) profit
40. 40.Which of these is true of a sole trader? (a) a separate legal body (b) simplest to start (c) owners’ risk is limited (d) run by directors

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