Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 523 · 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.🎂 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
2. 2.A small business sells 52 glasses of chai at ₹5 each. What is its revenue (in ₹)?
3. 3.🏢 A company is owned by… (a) its suppliers (b) the government always (c) its customers (d) its shareholders
4. 4.🏢 Sole trader or company: simplest to start? (a) a company (b) a sole trader
5. 5.📊 Revenue minus costs equals… (a) revenue (b) stock (c) profit (d) price
6. 6.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
7. 7.👤 A sole trader is… (a) a one-owner business (b) a school club (c) a bank (d) a big company
8. 8.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
9. 9.A small business sells 44 handmade cards at ₹50 each. What is its revenue (in ₹)?
10. 10.A small business sells 56 jute bags at ₹10 each. What is its revenue (in ₹)?
11. 11.A small business sells 39 cupcakes at ₹30 each. What is its revenue (in ₹)?
12. 12.A small business sells 37 potted plants at ₹35 each. What is its revenue (in ₹)?
13. 13.🏢 Sole trader or company: owned by shareholders? (a) a company (b) a sole trader
14. 14.True or false: “a separate legal body” is true of a sole trader. (a) False (b) True
15. 15.A small business sells 27 glasses of chai at ₹25 each. Its costs are ₹420. What is its profit (in ₹)?
16. 16.Which of these is true of a sole trader? (a) owned by shareholders (b) a separate legal body (c) one owner runs it (d) owners’ risk is limited
17. 17.📊 Revenue or profit: money in before costs? (a) profit (b) revenue
18. 18.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
19. 19.A small business selling cups of lemonade had a revenue of ₹1600 and a profit of ₹1580. What were its costs (in ₹)?
20. 20.Which of these is true of a sole trader? (a) owner keeps all profit (b) owned by shareholders (c) owners’ risk is limited (d) run by directors
21. 21.Which of these is true of a sole trader? (a) run by directors (b) owned by shareholders (c) owner owes the debts (d) a separate legal body
22. 22.A small business sells 41 jute bags at ₹25 each. What is its revenue (in ₹)?
23. 23.True or false: “owned by shareholders” is true of a sole trader. (a) True (b) False
24. 24.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
25. 25.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
26. 26.📊 Revenue or profit: price × number sold? (a) revenue (b) profit
27. 27.A small business sells 27 potted plants at ₹15 each. Its costs are ₹210. What is its profit (in ₹)?
28. 28.A small business sells 46 potted plants at ₹45 each. What is its revenue (in ₹)?
29. 29.A small business sells 37 handmade cards at ₹40 each. What is its revenue (in ₹)?
30. 30.True or false: “owned by shareholders” is true of a company. (a) True (b) False
31. 31.🏢 Sole trader or company: owners’ risk is limited? (a) a sole trader (b) a company
32. 32.Which of these is true of a sole trader? (a) owned by shareholders (b) simplest to start (c) owners’ risk is limited (d) run by directors
33. 33.A small business sells 30 painted pebbles at ₹30 each. What is its revenue (in ₹)?
34. 34.True or false: “owners’ risk is limited” is true of a sole trader. (a) False (b) True
35. 35.📜 Who should explain tax or legal rules for a business? (a) a random video (b) a classmate (c) nobody (d) an adult or an expert
36. 36.True or false: “simplest to start” is true of a sole trader. (a) False (b) True
37. 37.A small business sells 17 glasses of chai at ₹30 each. What is its revenue (in ₹)?
38. 38.True or false: “a separate legal body” is true of a company. (a) True (b) False
39. 39.Which of these is true of a company? (a) owner owes the debts (b) simplest to start (c) a separate legal body (d) owner keeps all profit
40. 40.True or false: “run by directors” is true of a company. (a) False (b) True

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