Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 51 · 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: simplest to start? (a) a company (b) a sole trader
2. 2.A small business selling potted plants had a revenue of ₹1160 and a profit of ₹860. What were its costs (in ₹)?
3. 3.True or false: “run by directors” is true of a company. (a) False (b) True
4. 4.🏢 Sole trader or company: run by directors? (a) a company (b) a sole trader
5. 5.📊 Revenue or profit: money in before costs? (a) profit (b) revenue
6. 6.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
7. 7.A small business sells 29 cups of lemonade at ₹30 each. What is its revenue (in ₹)?
8. 8.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
9. 9.📜 Who should explain tax or legal rules for a business? (a) nobody (b) a classmate (c) an adult or an expert (d) a random video
10. 10.Which of these is true of a sole trader? (a) one owner runs it (b) owned by shareholders (c) run by directors (d) a separate legal body
11. 11.A small business selling jute bags had a revenue of ₹1250 and a profit of ₹280. What were its costs (in ₹)?
12. 12.A small business selling bags of popcorn had a revenue of ₹330 and a profit of ₹270. What were its costs (in ₹)?
13. 13.📊 Revenue minus costs equals… (a) revenue (b) price (c) profit (d) stock
14. 14.A small business selling painted pebbles had a revenue of ₹470 and a profit of ₹70. What were its costs (in ₹)?
15. 15.Which of these is true of a company? (a) run by directors (b) simplest to start (c) one owner runs it (d) owner owes the debts
16. 16.A small business sells 18 clay diyas at ₹25 each. What is its revenue (in ₹)?
17. 17.A small business sells 17 bags of popcorn at ₹45 each. What is its revenue (in ₹)?
18. 18.📊 Revenue or profit: revenue minus costs? (a) profit (b) revenue
19. 19.A small business sells 10 painted pebbles at ₹45 each. What is its revenue (in ₹)?
20. 20.Which of these is true of a company? (a) one owner runs it (b) simplest to start (c) owner keeps all profit (d) a separate legal body
21. 21.🏢 Sole trader or company: owner keeps all profit? (a) a sole trader (b) a company
22. 22.🏢 A company is owned by… (a) its suppliers (b) its shareholders (c) its customers (d) the government always
23. 23.A small business sells 24 jute bags at ₹45 each. What is its revenue (in ₹)?
24. 24.A small business selling cupcakes had a revenue of ₹600 and a profit of ₹430. What were its costs (in ₹)?
25. 25.👤 A sole trader is… (a) a one-owner business (b) a bank (c) a big company (d) a school club
26. 26.A small business sells 38 fruit cups at ₹45 each. What is its revenue (in ₹)?
27. 27.True or false: “one owner runs it” is true of a company. (a) False (b) True
28. 28.True or false: “a separate legal body” is true of a company. (a) False (b) True
29. 29.A small business sells 39 cups of lemonade at ₹30 each. Its costs are ₹440. What is its profit (in ₹)?
30. 30.Which of these is true of a company? (a) simplest to start (b) owned by shareholders (c) owner keeps all profit (d) one owner runs it
31. 31.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
32. 32.🎂 Can a 14-year-old run a business on their own? (a) only at night (b) never ever (c) yes, no one needed (d) only with adult help
33. 33.📊 Revenue or profit: price × number sold? (a) revenue (b) profit
34. 34.A small business sells 10 painted pebbles at ₹15 each. What is its revenue (in ₹)?
35. 35.A small business sells 11 cups of lemonade at ₹5 each. Its costs are ₹40. What is its profit (in ₹)?
36. 36.A small business sells 13 friendship bands at ₹50 each. Its costs are ₹280. What is its profit (in ₹)?
37. 37.A small business sells 59 handmade cards at ₹45 each. Its costs are ₹1330. What is its profit (in ₹)?
38. 38.A small business sells 23 handmade cards at ₹20 each. Its costs are ₹200. What is its profit (in ₹)?
39. 39.A small business sells 35 friendship bands at ₹15 each. What is its revenue (in ₹)?
40. 40.Which of these is true of a sole trader? (a) run by directors (b) owner owes the debts (c) owned by shareholders (d) a separate legal body

Free entrepreneurship lessons, practice and worksheets at talentjr.in/entrepreneurship-for-kids