Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 544 · 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.A small business selling jute bags had a revenue of ₹270 and a profit of ₹190. What were its costs (in ₹)?
2. 2.Which of these is true of a sole trader? (a) owned by shareholders (b) owner owes the debts (c) a separate legal body (d) run by directors
3. 3.A small business sells 15 cupcakes at ₹50 each. What is its revenue (in ₹)?
4. 4.🏢 Sole trader or company: simplest to start? (a) a company (b) a sole trader
5. 5.A small business sells 54 cups of lemonade at ₹50 each. Its costs are ₹1940. What is its profit (in ₹)?
6. 6.True or false: “a separate legal body” is true of a sole trader. (a) True (b) False
7. 7.🏢 Sole trader or company: run by directors? (a) a company (b) a sole trader
8. 8.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
9. 9.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
10. 10.A small business selling potted plants had a revenue of ₹575 and a profit of ₹395. What were its costs (in ₹)?
11. 11.True or false: “one owner runs it” is true of a sole trader. (a) True (b) False
12. 12.🎂 Can a 14-year-old run a business on their own? (a) only at night (b) never ever (c) only with adult help (d) yes, no one needed
13. 13.A small business sells 57 handmade cards at ₹30 each. What is its revenue (in ₹)?
14. 14.A small business sells 58 paper bookmarks at ₹10 each. Its costs are ₹210. What is its profit (in ₹)?
15. 15.A small business selling potted plants had a revenue of ₹820 and a profit of ₹520. What were its costs (in ₹)?
16. 16.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
17. 17.True or false: “owner owes the debts” is true of a company. (a) True (b) False
18. 18.A small business sells 19 painted pebbles at ₹20 each. What is its revenue (in ₹)?
19. 19.A small business sells 21 potted plants at ₹40 each. Its costs are ₹500. What is its profit (in ₹)?
20. 20.📊 Revenue or profit: left after all costs? (a) profit (b) revenue
21. 21.A small business sells 36 bags of popcorn at ₹10 each. Its costs are ₹190. What is its profit (in ₹)?
22. 22.A small business selling potted plants had a revenue of ₹780 and a profit of ₹110. What were its costs (in ₹)?
23. 23.True or false: “owned by shareholders” is true of a sole trader. (a) False (b) True
24. 24.A small business selling handmade cards had a revenue of ₹1740 and a profit of ₹520. What were its costs (in ₹)?
25. 25.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
26. 26.🏢 Sole trader or company: owners’ risk is limited? (a) a company (b) a sole trader
27. 27.A small business sells 22 glasses of chai at ₹50 each. What is its revenue (in ₹)?
28. 28.True or false: “owners’ risk is limited” is true of a sole trader. (a) False (b) True
29. 29.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
30. 30.A small business sells 51 bags of popcorn at ₹20 each. What is its revenue (in ₹)?
31. 31.📊 Revenue minus costs equals… (a) stock (b) price (c) revenue (d) profit
32. 32.Which of these is true of a company? (a) owner owes the debts (b) simplest to start (c) owner keeps all profit (d) run by directors
33. 33.A small business sells 32 paper bookmarks at ₹5 each. What is its revenue (in ₹)?
34. 34.📊 Revenue or profit: money in before costs? (a) profit (b) revenue
35. 35.True or false: “run by directors” is true of a sole trader. (a) False (b) True
36. 36.A small business selling fruit cups had a revenue of ₹1890 and a profit of ₹1610. What were its costs (in ₹)?
37. 37.📊 Revenue or profit: price × number sold? (a) revenue (b) profit
38. 38.A small business sells 24 paper bookmarks at ₹5 each. Its costs are ₹70. What is its profit (in ₹)?
39. 39.A small business sells 60 bags of popcorn at ₹25 each. Its costs are ₹240. What is its profit (in ₹)?
40. 40.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

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