Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 434 · 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 28 bags of popcorn at ₹40 each. What is its revenue (in ₹)?
2. 2.📜 Who should explain tax or legal rules for a business? (a) a random video (b) an adult or an expert (c) a classmate (d) nobody
3. 3.Which of these is true of a sole trader? (a) owned by shareholders (b) owner keeps all profit (c) run by directors (d) a separate legal body
4. 4.True or false: “one owner runs it” is true of a company. (a) True (b) False
5. 5.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
6. 6.A small business sells 39 cups of lemonade at ₹50 each. Its costs are ₹340. What is its profit (in ₹)?
7. 7.A small business selling friendship bands had a revenue of ₹1160 and a profit of ₹660. What were its costs (in ₹)?
8. 8.A small business sells 19 cups of lemonade at ₹10 each. What is its revenue (in ₹)?
9. 9.A small business sells 33 glasses of chai at ₹15 each. Its costs are ₹380. What is its profit (in ₹)?
10. 10.👤 A sole trader is… (a) a bank (b) a school club (c) a big company (d) a one-owner business
11. 11.A small business selling paper bookmarks had a revenue of ₹1650 and a profit of ₹1410. What were its costs (in ₹)?
12. 12.🏢 Sole trader or company: owners’ risk is limited? (a) a company (b) a sole trader
13. 13.True or false: “owner owes the debts” is true of a company. (a) False (b) True
14. 14.Which of these is true of a company? (a) owner owes the debts (b) run by directors (c) owner keeps all profit (d) simplest to start
15. 15.A small business sells 16 handmade cards at ₹10 each. What is its revenue (in ₹)?
16. 16.A small business sells 12 clay diyas at ₹10 each. What is its revenue (in ₹)?
17. 17.📊 Revenue or profit: money in before costs? (a) profit (b) revenue
18. 18.Which of these is true of a company? (a) owner keeps all profit (b) a separate legal body (c) simplest to start (d) owner owes the debts
19. 19.A small business selling cupcakes had a revenue of ₹210 and a profit of ₹70. What were its costs (in ₹)?
20. 20.🎂 Can a 14-year-old run a business on their own? (a) only at night (b) yes, no one needed (c) only with adult help (d) never ever
21. 21.A small business sells 28 friendship bands at ₹15 each. Its costs are ₹250. What is its profit (in ₹)?
22. 22.A small business selling cupcakes had a revenue of ₹805 and a profit of ₹665. What were its costs (in ₹)?
23. 23.Which of these is true of a sole trader? (a) owned by shareholders (b) a separate legal body (c) simplest to start (d) run by directors
24. 24.A small business sells 37 potted plants at ₹50 each. What is its revenue (in ₹)?
25. 25.True or false: “one owner runs it” is true of a sole trader. (a) True (b) False
26. 26.🏢 Sole trader or company: owned by shareholders? (a) a company (b) a sole trader
27. 27.🏢 Sole trader or company: owner owes the debts? (a) a sole trader (b) a company
28. 28.A small business sells 34 clay diyas at ₹40 each. What is its revenue (in ₹)?
29. 29.A small business sells 21 handmade cards at ₹50 each. Its costs are ₹470. What is its profit (in ₹)?
30. 30.📊 Revenue or profit: price × number sold? (a) revenue (b) profit
31. 31.🏢 Sole trader or company: simplest to start? (a) a company (b) a sole trader
32. 32.A small business sells 48 cups of lemonade at ₹50 each. Its costs are ₹1330. What is its profit (in ₹)?
33. 33.A small business sells 55 handmade cards at ₹30 each. What is its revenue (in ₹)?
34. 34.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
35. 35.A small business selling cups of lemonade had a revenue of ₹330 and a profit of ₹170. What were its costs (in ₹)?
36. 36.A small business sells 30 cups of lemonade at ₹15 each. What is its revenue (in ₹)?
37. 37.🏢 Sole trader or company: a separate legal body? (a) a sole trader (b) a company
38. 38.Which of these is true of a sole trader? (a) owned by shareholders (b) run by directors (c) a separate legal body (d) one owner runs it
39. 39.A small business sells 55 glasses of chai at ₹15 each. What is its revenue (in ₹)?
40. 40.True or false: “owned by shareholders” is true of a sole trader. (a) False (b) True

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