Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 481 · 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 36 bags of popcorn at ₹5 each. What is its revenue (in ₹)?
2. 2.A small business sells 19 glasses of chai at ₹45 each. What is its revenue (in ₹)?
3. 3.True or false: “owners’ risk is limited” is true of a sole trader. (a) True (b) False
4. 4.A small business selling friendship bands had a revenue of ₹540 and a profit of ₹310. What were its costs (in ₹)?
5. 5.A small business sells 23 potted plants at ₹50 each. What is its revenue (in ₹)?
6. 6.📊 Revenue minus costs equals… (a) profit (b) price (c) revenue (d) stock
7. 7.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
8. 8.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
9. 9.A small business sells 11 cups of lemonade at ₹40 each. What is its revenue (in ₹)?
10. 10.Which of these is true of a sole trader? (a) owner keeps all profit (b) a separate legal body (c) owners’ risk is limited (d) owned by shareholders
11. 11.Which of these is true of a sole trader? (a) owned by shareholders (b) run by directors (c) owners’ risk is limited (d) simplest to start
12. 12.True or false: “owner owes the debts” is true of a company. (a) True (b) False
13. 13.📊 Revenue or profit: revenue minus costs? (a) profit (b) revenue
14. 14.A small business selling handmade cards had a revenue of ₹1150 and a profit of ₹680. What were its costs (in ₹)?
15. 15.🏢 Sole trader or company: owner keeps all profit? (a) a sole trader (b) a company
16. 16.Which of these is true of a company? (a) simplest to start (b) owner keeps all profit (c) run by directors (d) owner owes the debts
17. 17.A small business sells 19 bags of popcorn at ₹40 each. What is its revenue (in ₹)?
18. 18.🏢 Sole trader or company: a separate legal body? (a) a sole trader (b) a company
19. 19.A small business selling painted pebbles had a revenue of ₹900 and a profit of ₹450. What were its costs (in ₹)?
20. 20.True or false: “one owner runs it” is true of a sole trader. (a) True (b) False
21. 21.Which of these is true of a sole trader? (a) owned by shareholders (b) one owner runs it (c) run by directors (d) owners’ risk is limited
22. 22.🎂 Can a 14-year-old run a business on their own? (a) only at night (b) yes, no one needed (c) never ever (d) only with adult help
23. 23.A small business sells 43 bags of popcorn at ₹40 each. What is its revenue (in ₹)?
24. 24.🏢 Sole trader or company: run by directors? (a) a sole trader (b) a company
25. 25.A small business sells 51 cups of lemonade at ₹40 each. What is its revenue (in ₹)?
26. 26.🏢 Sole trader or company: simplest to start? (a) a company (b) a sole trader
27. 27.True or false: “owned by shareholders” is true of a sole trader. (a) True (b) False
28. 28.A small business selling friendship bands had a revenue of ₹600 and a profit of ₹580. What were its costs (in ₹)?
29. 29.🏢 Sole trader or company: owners’ risk is limited? (a) a sole trader (b) a company
30. 30.A small business selling paper bookmarks had a revenue of ₹410 and a profit of ₹90. What were its costs (in ₹)?
31. 31.🏢 Sole trader or company: owned by shareholders? (a) a company (b) a sole trader
32. 32.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
33. 33.📜 Who should explain tax or legal rules for a business? (a) nobody (b) an adult or an expert (c) a random video (d) a classmate
34. 34.A small business sells 32 friendship bands at ₹15 each. Its costs are ₹190. What is its profit (in ₹)?
35. 35.Which of these is true of a company? (a) owner keeps all profit (b) a separate legal body (c) one owner runs it (d) owner owes the debts
36. 36.A small business sells 16 fruit cups at ₹45 each. Its costs are ₹290. What is its profit (in ₹)?
37. 37.📊 Revenue or profit: goes up if costs fall? (a) profit (b) revenue
38. 38.A small business sells 23 painted pebbles at ₹5 each. What is its revenue (in ₹)?
39. 39.A small business selling potted plants had a revenue of ₹2150 and a profit of ₹1040. What were its costs (in ₹)?
40. 40.A small business sells 28 clay diyas at ₹15 each. What is its revenue (in ₹)?

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