Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 569 · 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 ₹215 and a profit of ₹115. What were its costs (in ₹)?
2. 2.🏢 Sole trader or company: owned by shareholders? (a) a company (b) a sole trader
3. 3.📊 Revenue minus costs equals… (a) profit (b) revenue (c) stock (d) price
4. 4.Which of these is true of a sole trader? (a) one owner runs it (b) owners’ risk is limited (c) run by directors (d) owned by shareholders
5. 5.A small business sells 38 handmade cards at ₹40 each. What is its revenue (in ₹)?
6. 6.A small business sells 60 cups of lemonade at ₹30 each. What is its revenue (in ₹)?
7. 7.Which of these is true of a sole trader? (a) owned by shareholders (b) a separate legal body (c) run by directors (d) simplest to start
8. 8.True or false: “one owner runs it” is true of a company. (a) False (b) True
9. 9.A small business sells 50 fruit cups at ₹20 each. What is its revenue (in ₹)?
10. 10.🎂 Can a 14-year-old run a business on their own? (a) yes, no one needed (b) only at night (c) only with adult help (d) never ever
11. 11.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
12. 12.👤 A sole trader is… (a) a bank (b) a school club (c) a one-owner business (d) a big company
13. 13.True or false: “run by directors” is true of a company. (a) True (b) False
14. 14.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
15. 15.A small business selling clay diyas had a revenue of ₹930 and a profit of ₹730. What were its costs (in ₹)?
16. 16.A small business selling paper bookmarks had a revenue of ₹360 and a profit of ₹340. What were its costs (in ₹)?
17. 17.🏢 Sole trader or company: run by directors? (a) a company (b) a sole trader
18. 18.📊 Revenue or profit: money in before costs? (a) revenue (b) profit
19. 19.📊 Revenue or profit: price × number sold? (a) revenue (b) profit
20. 20.🏢 Sole trader or company: owners’ risk is limited? (a) a company (b) a sole trader
21. 21.A small business sells 35 bags of popcorn at ₹10 each. What is its revenue (in ₹)?
22. 22.🏢 Sole trader or company: a separate legal body? (a) a sole trader (b) a company
23. 23.Which of these is true of a company? (a) run by directors (b) owner owes the debts (c) one owner runs it (d) simplest to start
24. 24.A small business sells 18 clay diyas at ₹40 each. Its costs are ₹160. What is its profit (in ₹)?
25. 25.A small business sells 41 clay diyas at ₹40 each. Its costs are ₹230. What is its profit (in ₹)?
26. 26.A small business sells 27 friendship bands at ₹15 each. What is its revenue (in ₹)?
27. 27.True or false: “simplest to start” is true of a company. (a) False (b) True
28. 28.📜 Who should explain tax or legal rules for a business? (a) nobody (b) a classmate (c) an adult or an expert (d) a random video
29. 29.Which of these is true of a sole trader? (a) owned by shareholders (b) run by directors (c) a separate legal body (d) owner owes the debts
30. 30.🏢 A company is owned by… (a) its suppliers (b) its shareholders (c) the government always (d) its customers
31. 31.A small business sells 13 handmade cards at ₹30 each. What is its revenue (in ₹)?
32. 32.A small business sells 46 glasses of chai at ₹15 each. Its costs are ₹160. What is its profit (in ₹)?
33. 33.True or false: “owned by shareholders” is true of a sole trader. (a) False (b) True
34. 34.A small business sells 31 friendship bands at ₹10 each. Its costs are ₹130. What is its profit (in ₹)?
35. 35.A small business sells 48 cupcakes at ₹25 each. Its costs are ₹180. What is its profit (in ₹)?
36. 36.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
37. 37.A small business sells 57 painted pebbles at ₹10 each. What is its revenue (in ₹)?
38. 38.Which of these is true of a sole trader? (a) owner keeps all profit (b) a separate legal body (c) run by directors (d) owners’ risk is limited
39. 39.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
40. 40.A small business selling handmade cards had a revenue of ₹805 and a profit of ₹145. What were its costs (in ₹)?

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