Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 454 · 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.🏢 Sole trader or company: owners’ risk is limited? (a) a company (b) a sole trader
2. 2.📜 Who should explain tax or legal rules for a business? (a) an adult or an expert (b) nobody (c) a classmate (d) a random video
3. 3.A small business sells 54 jute bags at ₹5 each. What is its revenue (in ₹)?
4. 4.📊 Revenue minus costs equals… (a) price (b) stock (c) revenue (d) profit
5. 5.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
6. 6.🏢 Sole trader or company: simplest to start? (a) a company (b) a sole trader
7. 7.A small business sells 27 paper bookmarks at ₹10 each. Its costs are ₹220. What is its profit (in ₹)?
8. 8.A small business sells 37 cupcakes at ₹30 each. What is its revenue (in ₹)?
9. 9.A small business sells 42 cups of lemonade at ₹25 each. Its costs are ₹260. What is its profit (in ₹)?
10. 10.🎂 Can a 14-year-old run a business on their own? (a) never ever (b) yes, no one needed (c) only at night (d) only with adult help
11. 11.True or false: “a separate legal body” is true of a company. (a) True (b) False
12. 12.📊 Revenue or profit: revenue minus costs? (a) profit (b) revenue
13. 13.A small business sells 37 paper bookmarks at ₹45 each. What is its revenue (in ₹)?
14. 14.A small business selling fruit cups had a revenue of ₹295 and a profit of ₹285. What were its costs (in ₹)?
15. 15.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
16. 16.A small business sells 35 glasses of chai at ₹45 each. What is its revenue (in ₹)?
17. 17.True or false: “simplest to start” is true of a company. (a) False (b) True
18. 18.A small business sells 27 cups of lemonade at ₹15 each. What is its revenue (in ₹)?
19. 19.A small business sells 37 fruit cups at ₹5 each. What is its revenue (in ₹)?
20. 20.True or false: “owner keeps all profit” is true of a sole trader. (a) True (b) False
21. 21.True or false: “simplest to start” is true of a sole trader. (a) False (b) True
22. 22.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
23. 23.A small business sells 25 jute bags at ₹25 each. What is its revenue (in ₹)?
24. 24.🏢 Sole trader or company: run by directors? (a) a company (b) a sole trader
25. 25.A small business selling painted pebbles had a revenue of ₹1855 and a profit of ₹905. What were its costs (in ₹)?
26. 26.A small business selling clay diyas had a revenue of ₹110 and a profit of ₹60. What were its costs (in ₹)?
27. 27.A small business selling clay diyas had a revenue of ₹375 and a profit of ₹235. What were its costs (in ₹)?
28. 28.🏢 Sole trader or company: owned by shareholders? (a) a company (b) a sole trader
29. 29.A small business selling cups of lemonade had a revenue of ₹280 and a profit of ₹130. What were its costs (in ₹)?
30. 30.👤 A sole trader is… (a) a big company (b) a bank (c) a school club (d) a one-owner business
31. 31.A small business selling painted pebbles had a revenue of ₹360 and a profit of ₹310. What were its costs (in ₹)?
32. 32.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
33. 33.📊 Revenue or profit: price × number sold? (a) revenue (b) profit
34. 34.True or false: “a separate legal body” is true of a sole trader. (a) True (b) False
35. 35.A small business sells 30 clay diyas at ₹45 each. Its costs are ₹400. What is its profit (in ₹)?
36. 36.A small business sells 36 potted plants at ₹45 each. Its costs are ₹1350. What is its profit (in ₹)?
37. 37.📊 Revenue or profit: money in before costs? (a) profit (b) revenue
38. 38.A small business sells 13 paper bookmarks at ₹30 each. Its costs are ₹330. What is its profit (in ₹)?
39. 39.Which of these is true of a company? (a) owner keeps all profit (b) one owner runs it (c) owned by shareholders (d) simplest to start
40. 40.Which of these is true of a sole trader? (a) run by directors (b) owners’ risk is limited (c) a separate legal body (d) owner keeps all profit

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