Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 555 · 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.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
2. 2.True or false: “a separate legal body” is true of a sole trader. (a) False (b) True
3. 3.📜 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
4. 4.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
5. 5.Which of these is true of a company? (a) owner keeps all profit (b) one owner runs it (c) run by directors (d) owner owes the debts
6. 6.🏢 Sole trader or company: run by directors? (a) a company (b) a sole trader
7. 7.A small business selling handmade cards had a revenue of ₹810 and a profit of ₹780. What were its costs (in ₹)?
8. 8.True or false: “owned by shareholders” is true of a sole trader. (a) True (b) False
9. 9.A small business sells 12 cupcakes at ₹5 each. Its costs are ₹10. What is its profit (in ₹)?
10. 10.Which of these is true of a company? (a) one owner runs it (b) simplest to start (c) owner owes the debts (d) a separate legal body
11. 11.🏢 A company is owned by… (a) the government always (b) its suppliers (c) its shareholders (d) its customers
12. 12.A small business sells 17 bags of popcorn at ₹30 each. What is its revenue (in ₹)?
13. 13.🏢 Sole trader or company: owner owes the debts? (a) a sole trader (b) a company
14. 14.A small business sells 42 fruit cups at ₹25 each. Its costs are ₹530. What is its profit (in ₹)?
15. 15.A small business selling friendship bands had a revenue of ₹1470 and a profit of ₹900. What were its costs (in ₹)?
16. 16.A small business selling fruit cups had a revenue of ₹250 and a profit of ₹30. What were its costs (in ₹)?
17. 17.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
18. 18.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
19. 19.True or false: “owner owes the debts” is true of a sole trader. (a) True (b) False
20. 20.A small business sells 17 bags of popcorn at ₹5 each. Its costs are ₹50. What is its profit (in ₹)?
21. 21.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
22. 22.A small business sells 36 cups of lemonade at ₹50 each. What is its revenue (in ₹)?
23. 23.A small business selling potted plants had a revenue of ₹250 and a profit of ₹60. What were its costs (in ₹)?
24. 24.True or false: “simplest to start” is true of a company. (a) True (b) False
25. 25.Which of these is true of a sole trader? (a) simplest to start (b) owned by shareholders (c) owners’ risk is limited (d) run by directors
26. 26.🎂 Can a 14-year-old run a business on their own? (a) yes, no one needed (b) only at night (c) never ever (d) only with adult help
27. 27.Which of these is true of a sole trader? (a) owner keeps all profit (b) owners’ risk is limited (c) run by directors (d) a separate legal body
28. 28.👤 A sole trader is… (a) a bank (b) a one-owner business (c) a school club (d) a big company
29. 29.A small business selling cupcakes had a revenue of ₹1225 and a profit of ₹445. What were its costs (in ₹)?
30. 30.True or false: “one owner runs it” is true of a sole trader. (a) False (b) True
31. 31.A small business sells 23 jute bags at ₹30 each. What is its revenue (in ₹)?
32. 32.True or false: “one owner runs it” is true of a company. (a) False (b) True
33. 33.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
34. 34.A small business sells 40 glasses of chai at ₹5 each. What is its revenue (in ₹)?
35. 35.True or false: “simplest to start” is true of a sole trader. (a) False (b) True
36. 36.True or false: “run by directors” is true of a company. (a) False (b) True
37. 37.A small business selling jute bags had a revenue of ₹1440 and a profit of ₹1260. What were its costs (in ₹)?
38. 38.A small business sells 43 handmade cards at ₹35 each. What is its revenue (in ₹)?
39. 39.A small business sells 28 fruit cups at ₹50 each. Its costs are ₹550. What is its profit (in ₹)?
40. 40.A small business selling glasses of chai had a revenue of ₹540 and a profit of ₹340. What were its costs (in ₹)?

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