Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 433 · 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: left after all costs? (a) profit (b) revenue
2. 2.Which of these is true of a company? (a) simplest to start (b) owner keeps all profit (c) a separate legal body (d) owner owes the debts
3. 3.True or false: “one owner runs it” is true of a company. (a) False (b) True
4. 4.🏢 Sole trader or company: simplest to start? (a) a company (b) a sole trader
5. 5.👤 A sole trader is… (a) a one-owner business (b) a big company (c) a school club (d) a bank
6. 6.Which of these is true of a company? (a) owner keeps all profit (b) owner owes the debts (c) run by directors (d) one owner runs it
7. 7.A small business sells 39 glasses of chai at ₹5 each. What is its revenue (in ₹)?
8. 8.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
9. 9.A small business sells 12 bags of popcorn at ₹20 each. What is its revenue (in ₹)?
10. 10.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
11. 11.A small business selling cupcakes had a revenue of ₹885 and a profit of ₹375. What were its costs (in ₹)?
12. 12.A small business selling fruit cups had a revenue of ₹315 and a profit of ₹85. What were its costs (in ₹)?
13. 13.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
14. 14.A small business sells 22 handmade cards at ₹10 each. Its costs are ₹110. What is its profit (in ₹)?
15. 15.Which of these is true of a sole trader? (a) owned by shareholders (b) run by directors (c) owner owes the debts (d) a separate legal body
16. 16.A small business sells 27 handmade cards at ₹35 each. Its costs are ₹850. What is its profit (in ₹)?
17. 17.A small business selling bags of popcorn had a revenue of ₹600 and a profit of ₹130. What were its costs (in ₹)?
18. 18.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
19. 19.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
20. 20.🎂 Can a 14-year-old run a business on their own? (a) only with adult help (b) yes, no one needed (c) never ever (d) only at night
21. 21.A small business sells 32 clay diyas at ₹40 each. What is its revenue (in ₹)?
22. 22.True or false: “owner keeps all profit” is true of a company. (a) True (b) False
23. 23.True or false: “simplest to start” is true of a sole trader. (a) True (b) False
24. 24.A small business sells 56 paper bookmarks at ₹35 each. What is its revenue (in ₹)?
25. 25.A small business selling bags of popcorn had a revenue of ₹2450 and a profit of ₹2160. What were its costs (in ₹)?
26. 26.📊 Revenue or profit: money in before costs? (a) revenue (b) profit
27. 27.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
28. 28.A small business sells 16 fruit cups at ₹20 each. What is its revenue (in ₹)?
29. 29.🏢 Sole trader or company: owned by shareholders? (a) a company (b) a sole trader
30. 30.A small business sells 47 paper bookmarks at ₹10 each. Its costs are ₹20. What is its profit (in ₹)?
31. 31.A small business selling cups of lemonade had a revenue of ₹740 and a profit of ₹570. What were its costs (in ₹)?
32. 32.A small business sells 20 clay diyas at ₹45 each. Its costs are ₹10. What is its profit (in ₹)?
33. 33.A small business selling bags of popcorn had a revenue of ₹1440 and a profit of ₹640. What were its costs (in ₹)?
34. 34.A small business selling bags of popcorn had a revenue of ₹275 and a profit of ₹265. What were its costs (in ₹)?
35. 35.True or false: “owner keeps all profit” is true of a sole trader. (a) False (b) True
36. 36.A small business sells 31 cups of lemonade at ₹10 each. Its costs are ₹120. What is its profit (in ₹)?
37. 37.Which of these is true of a sole trader? (a) owned by shareholders (b) run by directors (c) simplest to start (d) a separate legal body
38. 38.A small business sells 49 cupcakes at ₹25 each. What is its revenue (in ₹)?
39. 39.True or false: “run by directors” is true of a sole trader. (a) True (b) False
40. 40.A small business sells 27 cupcakes at ₹20 each. Its costs are ₹410. What is its profit (in ₹)?

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