Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 531 · 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: owner owes the debts? (a) a sole trader (b) a company
2. 2.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
3. 3.A small business selling paper bookmarks had a revenue of ₹1920 and a profit of ₹420. What were its costs (in ₹)?
4. 4.🎂 Can a 14-year-old run a business on their own? (a) only at night (b) yes, no one needed (c) only with adult help (d) never ever
5. 5.Which of these is true of a company? (a) one owner runs it (b) owner keeps all profit (c) owned by shareholders (d) owner owes the debts
6. 6.A small business sells 59 fruit cups at ₹50 each. What is its revenue (in ₹)?
7. 7.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
8. 8.A small business sells 15 handmade cards at ₹45 each. Its costs are ₹30. What is its profit (in ₹)?
9. 9.A small business selling jute bags had a revenue of ₹225 and a profit of ₹205. What were its costs (in ₹)?
10. 10.True or false: “one owner runs it” is true of a company. (a) True (b) False
11. 11.A small business selling paper bookmarks had a revenue of ₹725 and a profit of ₹65. What were its costs (in ₹)?
12. 12.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
13. 13.📊 Revenue or profit: revenue minus costs? (a) profit (b) revenue
14. 14.True or false: “run by directors” is true of a company. (a) True (b) False
15. 15.📊 Revenue or profit: money in before costs? (a) profit (b) revenue
16. 16.A small business sells 42 friendship bands at ₹10 each. Its costs are ₹280. What is its profit (in ₹)?
17. 17.Which of these is true of a sole trader? (a) run by directors (b) one owner runs it (c) owned by shareholders (d) a separate legal body
18. 18.🏢 Sole trader or company: owned by shareholders? (a) a company (b) a sole trader
19. 19.📜 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
20. 20.True or false: “owner keeps all profit” is true of a sole trader. (a) False (b) True
21. 21.A small business sells 25 handmade cards at ₹50 each. Its costs are ₹1120. What is its profit (in ₹)?
22. 22.A small business sells 39 paper bookmarks at ₹10 each. Its costs are ₹80. What is its profit (in ₹)?
23. 23.A small business sells 20 friendship bands at ₹10 each. What is its revenue (in ₹)?
24. 24.A small business selling clay diyas had a revenue of ₹450 and a profit of ₹300. What were its costs (in ₹)?
25. 25.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
26. 26.A small business sells 14 paper bookmarks at ₹10 each. What is its revenue (in ₹)?
27. 27.A small business sells 25 handmade cards at ₹35 each. Its costs are ₹620. What is its profit (in ₹)?
28. 28.A small business selling potted plants had a revenue of ₹1100 and a profit of ₹600. What were its costs (in ₹)?
29. 29.True or false: “owned by shareholders” is true of a sole trader. (a) True (b) False
30. 30.A small business sells 24 jute bags at ₹45 each. What is its revenue (in ₹)?
31. 31.Which of these is true of a company? (a) owner owes the debts (b) simplest to start (c) run by directors (d) owner keeps all profit
32. 32.A small business sells 45 cups of lemonade at ₹25 each. Its costs are ₹40. What is its profit (in ₹)?
33. 33.🏢 A company is owned by… (a) its suppliers (b) its customers (c) the government always (d) its shareholders
34. 34.Which of these is true of a sole trader? (a) a separate legal body (b) run by directors (c) owned by shareholders (d) simplest to start
35. 35.A small business sells 17 cupcakes at ₹20 each. Its costs are ₹190. What is its profit (in ₹)?
36. 36.📊 Revenue or profit: price × number sold? (a) revenue (b) profit
37. 37.Which of these is true of a sole trader? (a) owner owes the debts (b) a separate legal body (c) owned by shareholders (d) owners’ risk is limited
38. 38.A small business selling handmade cards had a revenue of ₹270 and a profit of ₹120. What were its costs (in ₹)?
39. 39.A small business selling cups of lemonade had a revenue of ₹1645 and a profit of ₹1415. What were its costs (in ₹)?
40. 40.A small business sells 54 painted pebbles at ₹30 each. What is its revenue (in ₹)?

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