Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 561 · 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 clay diyas had a revenue of ₹135 and a profit of ₹65. What were its costs (in ₹)?
2. 2.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
3. 3.A small business sells 11 fruit cups at ₹30 each. What is its revenue (in ₹)?
4. 4.🏢 A company is owned by… (a) its customers (b) the government always (c) its shareholders (d) its suppliers
5. 5.Which of these is true of a company? (a) run by directors (b) owner keeps all profit (c) simplest to start (d) owner owes the debts
6. 6.🏢 Sole trader or company: owned by shareholders? (a) a company (b) a sole trader
7. 7.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
8. 8.Which of these is true of a company? (a) owner keeps all profit (b) owner owes the debts (c) owners’ risk is limited (d) one owner runs it
9. 9.🎂 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
10. 10.A small business selling handmade cards had a revenue of ₹2000 and a profit of ₹1020. What were its costs (in ₹)?
11. 11.Which of these is true of a sole trader? (a) owned by shareholders (b) simplest to start (c) run by directors (d) owners’ risk is limited
12. 12.📜 Who should explain tax or legal rules for a business? (a) a random video (b) an adult or an expert (c) a classmate (d) nobody
13. 13.A small business sells 26 fruit cups at ₹15 each. What is its revenue (in ₹)?
14. 14.📊 Revenue or profit: goes up if costs fall? (a) profit (b) revenue
15. 15.A small business sells 56 cupcakes at ₹5 each. What is its revenue (in ₹)?
16. 16.Which of these is true of a company? (a) one owner runs it (b) owner keeps all profit (c) owned by shareholders (d) simplest to start
17. 17.👤 A sole trader is… (a) a big company (b) a school club (c) a one-owner business (d) a bank
18. 18.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
19. 19.A small business selling clay diyas had a revenue of ₹120 and a profit of ₹60. What were its costs (in ₹)?
20. 20.A small business selling potted plants had a revenue of ₹440 and a profit of ₹130. What were its costs (in ₹)?
21. 21.📊 Revenue or profit: price × number sold? (a) revenue (b) profit
22. 22.A small business selling fruit cups had a revenue of ₹385 and a profit of ₹185. What were its costs (in ₹)?
23. 23.A small business sells 59 clay diyas at ₹10 each. Its costs are ₹400. What is its profit (in ₹)?
24. 24.A small business sells 26 potted plants at ₹25 each. What is its revenue (in ₹)?
25. 25.Which of these is true of a company? (a) one owner runs it (b) owner owes the debts (c) owner keeps all profit (d) a separate legal body
26. 26.A small business sells 56 potted plants at ₹15 each. Its costs are ₹170. What is its profit (in ₹)?
27. 27.A small business selling painted pebbles had a revenue of ₹430 and a profit of ₹370. What were its costs (in ₹)?
28. 28.A small business selling fruit cups had a revenue of ₹520 and a profit of ₹20. What were its costs (in ₹)?
29. 29.A small business sells 27 painted pebbles at ₹35 each. Its costs are ₹740. What is its profit (in ₹)?
30. 30.A small business sells 43 cupcakes at ₹20 each. Its costs are ₹850. What is its profit (in ₹)?
31. 31.📊 Revenue minus costs equals… (a) revenue (b) stock (c) profit (d) price
32. 32.True or false: “run by directors” is true of a company. (a) True (b) False
33. 33.A small business sells 38 potted plants at ₹5 each. Its costs are ₹30. What is its profit (in ₹)?
34. 34.True or false: “simplest to start” is true of a company. (a) False (b) True
35. 35.True or false: “owner keeps all profit” is true of a sole trader. (a) True (b) False
36. 36.A small business selling friendship bands had a revenue of ₹1295 and a profit of ₹875. What were its costs (in ₹)?
37. 37.A small business sells 27 paper bookmarks at ₹45 each. What is its revenue (in ₹)?
38. 38.A small business selling glasses of chai had a revenue of ₹240 and a profit of ₹30. What were its costs (in ₹)?
39. 39.🏢 Sole trader or company: owners’ risk is limited? (a) a company (b) a sole trader
40. 40.True or false: “owned by shareholders” is true of a company. (a) True (b) False

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