Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 559 · 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: goes up if costs fall? (a) revenue (b) profit
2. 2.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
3. 3.🎂 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
4. 4.🏢 Sole trader or company: owner keeps all profit? (a) a sole trader (b) a company
5. 5.Which of these is true of a sole trader? (a) a separate legal body (b) owned by shareholders (c) owner owes the debts (d) run by directors
6. 6.True or false: “one owner runs it” is true of a company. (a) False (b) True
7. 7.A small business sells 22 fruit cups at ₹45 each. Its costs are ₹630. What is its profit (in ₹)?
8. 8.True or false: “run by directors” is true of a company. (a) False (b) True
9. 9.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
10. 10.Which of these is true of a sole trader? (a) a separate legal body (b) owned by shareholders (c) run by directors (d) simplest to start
11. 11.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
12. 12.A small business sells 55 clay diyas at ₹35 each. Its costs are ₹1450. What is its profit (in ₹)?
13. 13.A small business sells 49 jute bags at ₹5 each. What is its revenue (in ₹)?
14. 14.True or false: “owners’ risk is limited” is true of a company. (a) False (b) True
15. 15.A small business sells 39 paper bookmarks at ₹20 each. What is its revenue (in ₹)?
16. 16.Which of these is true of a company? (a) owned by shareholders (b) owner keeps all profit (c) one owner runs it (d) simplest to start
17. 17.📜 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
18. 18.🏢 A company is owned by… (a) its suppliers (b) the government always (c) its customers (d) its shareholders
19. 19.Which of these is true of a company? (a) owner keeps all profit (b) owner owes the debts (c) a separate legal body (d) simplest to start
20. 20.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
21. 21.True or false: “owned by shareholders” is true of a sole trader. (a) True (b) False
22. 22.A small business selling painted pebbles had a revenue of ₹1620 and a profit of ₹760. What were its costs (in ₹)?
23. 23.📊 Revenue or profit: price × number sold? (a) revenue (b) profit
24. 24.A small business sells 39 clay diyas at ₹35 each. Its costs are ₹750. What is its profit (in ₹)?
25. 25.A small business selling glasses of chai had a revenue of ₹1160 and a profit of ₹630. What were its costs (in ₹)?
26. 26.A small business selling handmade cards had a revenue of ₹735 and a profit of ₹625. What were its costs (in ₹)?
27. 27.A small business sells 38 potted plants at ₹45 each. What is its revenue (in ₹)?
28. 28.A small business selling potted plants had a revenue of ₹270 and a profit of ₹120. What were its costs (in ₹)?
29. 29.A small business sells 25 fruit cups at ₹40 each. Its costs are ₹350. What is its profit (in ₹)?
30. 30.A small business sells 35 cups of lemonade at ₹5 each. Its costs are ₹70. What is its profit (in ₹)?
31. 31.A small business sells 33 painted pebbles at ₹40 each. What is its revenue (in ₹)?
32. 32.A small business sells 39 glasses of chai at ₹20 each. What is its revenue (in ₹)?
33. 33.A small business sells 19 friendship bands at ₹40 each. Its costs are ₹180. What is its profit (in ₹)?
34. 34.🏢 Sole trader or company: run by directors? (a) a company (b) a sole trader
35. 35.📊 Revenue minus costs equals… (a) revenue (b) price (c) stock (d) profit
36. 36.👤 A sole trader is… (a) a big company (b) a one-owner business (c) a school club (d) a bank
37. 37.A small business sells 52 painted pebbles at ₹25 each. Its costs are ₹740. What is its profit (in ₹)?
38. 38.🏢 Sole trader or company: simplest to start? (a) a company (b) a sole trader
39. 39.Which of these is true of a sole trader? (a) run by directors (b) a separate legal body (c) owner keeps all profit (d) owners’ risk is limited
40. 40.True or false: “simplest to start” is true of a sole trader. (a) False (b) True

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