Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 436 · 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 34 paper bookmarks at ₹50 each. What is its revenue (in ₹)?
2. 2.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
3. 3.A small business sells 59 cupcakes at ₹15 each. What is its revenue (in ₹)?
4. 4.A small business sells 27 handmade cards at ₹35 each. What is its revenue (in ₹)?
5. 5.True or false: “simplest to start” is true of a company. (a) False (b) True
6. 6.Which of these is true of a company? (a) owner keeps all profit (b) run by directors (c) simplest to start (d) one owner runs it
7. 7.A small business sells 16 handmade cards at ₹10 each. Its costs are ₹40. What is its profit (in ₹)?
8. 8.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
9. 9.👤 A sole trader is… (a) a one-owner business (b) a bank (c) a school club (d) a big company
10. 10.📊 Revenue or profit: revenue minus costs? (a) profit (b) revenue
11. 11.A small business sells 53 cups of lemonade at ₹30 each. What is its revenue (in ₹)?
12. 12.A small business sells 15 glasses of chai at ₹20 each. What is its revenue (in ₹)?
13. 13.Which of these is true of a sole trader? (a) owner owes the debts (b) run by directors (c) owned by shareholders (d) a separate legal body
14. 14.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
15. 15.📊 Revenue minus costs equals… (a) revenue (b) price (c) profit (d) stock
16. 16.A small business selling handmade cards had a revenue of ₹75 and a profit of ₹15. What were its costs (in ₹)?
17. 17.A small business sells 37 paper bookmarks at ₹45 each. What is its revenue (in ₹)?
18. 18.Which of these is true of a company? (a) one owner runs it (b) owner keeps all profit (c) owners’ risk is limited (d) simplest to start
19. 19.True or false: “owner owes the debts” is true of a company. (a) False (b) True
20. 20.True or false: “one owner runs it” is true of a sole trader. (a) True (b) False
21. 21.📊 Revenue or profit: left after all costs? (a) profit (b) revenue
22. 22.🏢 Sole trader or company: run by directors? (a) a sole trader (b) a company
23. 23.📜 Who should explain tax or legal rules for a business? (a) nobody (b) a classmate (c) a random video (d) an adult or an expert
24. 24.True or false: “owners’ risk is limited” is true of a company. (a) False (b) True
25. 25.A small business sells 24 handmade cards at ₹35 each. Its costs are ₹80. What is its profit (in ₹)?
26. 26.Which of these is true of a sole trader? (a) a separate legal body (b) simplest to start (c) owned by shareholders (d) owners’ risk is limited
27. 27.🏢 Sole trader or company: simplest to start? (a) a company (b) a sole trader
28. 28.🏢 A company is owned by… (a) the government always (b) its suppliers (c) its shareholders (d) its customers
29. 29.A small business sells 46 potted plants at ₹15 each. Its costs are ₹80. What is its profit (in ₹)?
30. 30.A small business sells 13 cupcakes at ₹50 each. Its costs are ₹620. What is its profit (in ₹)?
31. 31.A small business selling bags of popcorn had a revenue of ₹135 and a profit of ₹95. What were its costs (in ₹)?
32. 32.🏢 Sole trader or company: owned by shareholders? (a) a company (b) a sole trader
33. 33.True or false: “simplest to start” is true of a sole trader. (a) False (b) True
34. 34.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
35. 35.True or false: “run by directors” is true of a company. (a) False (b) True
36. 36.A small business selling paper bookmarks had a revenue of ₹170 and a profit of ₹150. What were its costs (in ₹)?
37. 37.True or false: “a separate legal body” is true of a sole trader. (a) True (b) False
38. 38.Which of these is true of a company? (a) owner owes the debts (b) owner keeps all profit (c) one owner runs it (d) owned by shareholders
39. 39.A small business sells 33 cupcakes at ₹20 each. What is its revenue (in ₹)?
40. 40.Which of these is true of a sole trader? (a) one owner runs it (b) owned by shareholders (c) a separate legal body (d) run by directors

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