Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 543 · 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.🏢 A company is owned by… (a) the government always (b) its shareholders (c) its suppliers (d) its customers
3. 3.A small business sells 21 handmade cards at ₹30 each. Its costs are ₹600. What is its profit (in ₹)?
4. 4.A small business sells 18 jute bags at ₹40 each. What is its revenue (in ₹)?
5. 5.🎂 Can a 14-year-old run a business on their own? (a) yes, no one needed (b) only with adult help (c) never ever (d) only at night
6. 6.🏢 Sole trader or company: simplest to start? (a) a sole trader (b) a company
7. 7.A small business sells 58 clay diyas at ₹25 each. What is its revenue (in ₹)?
8. 8.True or false: “owners’ risk is limited” is true of a company. (a) False (b) True
9. 9.Which of these is true of a sole trader? (a) owned by shareholders (b) owners’ risk is limited (c) run by directors (d) simplest to start
10. 10.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
11. 11.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
12. 12.A small business sells 20 clay diyas at ₹20 each. What is its revenue (in ₹)?
13. 13.A small business selling handmade cards had a revenue of ₹550 and a profit of ₹210. What were its costs (in ₹)?
14. 14.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
15. 15.🏢 Sole trader or company: owners’ risk is limited? (a) a company (b) a sole trader
16. 16.A small business sells 11 paper bookmarks at ₹50 each. What is its revenue (in ₹)?
17. 17.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
18. 18.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
19. 19.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
20. 20.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
21. 21.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
22. 22.A small business sells 16 handmade cards at ₹5 each. Its costs are ₹10. What is its profit (in ₹)?
23. 23.📜 Who should explain tax or legal rules for a business? (a) a classmate (b) nobody (c) an adult or an expert (d) a random video
24. 24.Which of these is true of a company? (a) owner keeps all profit (b) owner owes the debts (c) run by directors (d) simplest to start
25. 25.A small business selling potted plants had a revenue of ₹275 and a profit of ₹155. What were its costs (in ₹)?
26. 26.A small business sells 53 fruit cups at ₹20 each. What is its revenue (in ₹)?
27. 27.Which of these is true of a sole trader? (a) a separate legal body (b) owned by shareholders (c) owner keeps all profit (d) run by directors
28. 28.A small business selling bags of popcorn had a revenue of ₹1450 and a profit of ₹620. What were its costs (in ₹)?
29. 29.Which of these is true of a company? (a) simplest to start (b) owner owes the debts (c) one owner runs it (d) owners’ risk is limited
30. 30.📊 Revenue or profit: money in before costs? (a) revenue (b) profit
31. 31.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
32. 32.A small business sells 54 bags of popcorn at ₹35 each. What is its revenue (in ₹)?
33. 33.A small business selling glasses of chai had a revenue of ₹500 and a profit of ₹450. What were its costs (in ₹)?
34. 34.True or false: “run by directors” is true of a company. (a) False (b) True
35. 35.A small business sells 42 bags of popcorn at ₹25 each. What is its revenue (in ₹)?
36. 36.👤 A sole trader is… (a) a bank (b) a school club (c) a one-owner business (d) a big company
37. 37.A small business sells 22 bags of popcorn at ₹35 each. What is its revenue (in ₹)?
38. 38.A small business selling glasses of chai had a revenue of ₹1620 and a profit of ₹1340. What were its costs (in ₹)?
39. 39.Which of these is true of a company? (a) owner keeps all profit (b) simplest to start (c) owned by shareholders (d) one owner runs it
40. 40.A small business sells 24 cups of lemonade at ₹30 each. Its costs are ₹310. What is its profit (in ₹)?

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