Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 535 · 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: run by directors? (a) a sole trader (b) a company
2. 2.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
3. 3.A small business sells 14 fruit cups at ₹5 each. What is its revenue (in ₹)?
4. 4.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
5. 5.📜 Who should explain tax or legal rules for a business? (a) nobody (b) an adult or an expert (c) a classmate (d) a random video
6. 6.Which of these is true of a company? (a) owner keeps all profit (b) one owner runs it (c) owner owes the debts (d) run by directors
7. 7.True or false: “owned by shareholders” is true of a company. (a) False (b) True
8. 8.Which of these is true of a sole trader? (a) a separate legal body (b) one owner runs it (c) owners’ risk is limited (d) run by directors
9. 9.🏢 Sole trader or company: owner keeps all profit? (a) a sole trader (b) a company
10. 10.A small business selling painted pebbles had a revenue of ₹50 and a profit of ₹20. What were its costs (in ₹)?
11. 11.A small business selling cups of lemonade had a revenue of ₹1050 and a profit of ₹860. What were its costs (in ₹)?
12. 12.A small business sells 29 jute bags at ₹30 each. Its costs are ₹200. What is its profit (in ₹)?
13. 13.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
14. 14.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
15. 15.A small business sells 36 bags of popcorn at ₹25 each. What is its revenue (in ₹)?
16. 16.A small business sells 41 friendship bands at ₹5 each. Its costs are ₹90. What is its profit (in ₹)?
17. 17.A small business sells 60 paper bookmarks at ₹15 each. Its costs are ₹100. What is its profit (in ₹)?
18. 18.A small business selling paper bookmarks had a revenue of ₹560 and a profit of ₹110. What were its costs (in ₹)?
19. 19.A small business sells 60 jute bags at ₹20 each. Its costs are ₹100. What is its profit (in ₹)?
20. 20.A small business selling cupcakes had a revenue of ₹900 and a profit of ₹550. What were its costs (in ₹)?
21. 21.Which of these is true of a company? (a) owned by shareholders (b) one owner runs it (c) owner keeps all profit (d) simplest to start
22. 22.Which of these is true of a sole trader? (a) run by directors (b) owner owes the debts (c) a separate legal body (d) owners’ risk is limited
23. 23.A small business sells 49 glasses of chai at ₹15 each. Its costs are ₹50. What is its profit (in ₹)?
24. 24.A small business sells 39 painted pebbles at ₹30 each. What is its revenue (in ₹)?
25. 25.A small business sells 20 cupcakes at ₹15 each. Its costs are ₹70. What is its profit (in ₹)?
26. 26.True or false: “owners’ risk is limited” is true of a company. (a) False (b) True
27. 27.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
28. 28.A small business sells 11 fruit cups at ₹50 each. Its costs are ₹80. What is its profit (in ₹)?
29. 29.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
30. 30.A small business sells 24 glasses of chai at ₹20 each. What is its revenue (in ₹)?
31. 31.📊 Revenue minus costs equals… (a) profit (b) stock (c) price (d) revenue
32. 32.👤 A sole trader is… (a) a one-owner business (b) a bank (c) a big company (d) a school club
33. 33.Which of these is true of a sole trader? (a) a separate legal body (b) owned by shareholders (c) run by directors (d) owner keeps all profit
34. 34.📊 Revenue or profit: money in before costs? (a) revenue (b) profit
35. 35.True or false: “one owner runs it” is true of a company. (a) False (b) True
36. 36.A small business sells 14 fruit cups at ₹20 each. What is its revenue (in ₹)?
37. 37.Which of these is true of a sole trader? (a) run by directors (b) simplest to start (c) owned by shareholders (d) a separate legal body
38. 38.A small business sells 25 jute bags at ₹30 each. Its costs are ₹670. What is its profit (in ₹)?
39. 39.A small business sells 12 fruit cups at ₹20 each. Its costs are ₹10. What is its profit (in ₹)?
40. 40.🎂 Can a 14-year-old run a business on their own? (a) never ever (b) only with adult help (c) only at night (d) yes, no one needed

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