Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 57 · 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 sells 53 painted pebbles at ₹40 each. What is its revenue (in ₹)?
2. 2.A small business selling paper bookmarks had a revenue of ₹570 and a profit of ₹40. What were its costs (in ₹)?
3. 3.A small business sells 28 handmade cards at ₹5 each. What is its revenue (in ₹)?
4. 4.True or false: “owned by shareholders” is true of a company. (a) True (b) False
5. 5.A small business selling paper bookmarks had a revenue of ₹380 and a profit of ₹150. What were its costs (in ₹)?
6. 6.📊 Revenue or profit: price × number sold? (a) revenue (b) profit
7. 7.📊 Revenue minus costs equals… (a) revenue (b) profit (c) stock (d) price
8. 8.Which of these is true of a company? (a) one owner runs it (b) owner keeps all profit (c) run by directors (d) simplest to start
9. 9.📊 Revenue or profit: money in before costs? (a) profit (b) revenue
10. 10.True or false: “owner keeps all profit” is true of a sole trader. (a) True (b) False
11. 11.A small business sells 41 glasses of chai at ₹15 each. What is its revenue (in ₹)?
12. 12.Which of these is true of a sole trader? (a) owners’ risk is limited (b) a separate legal body (c) owned by shareholders (d) owner keeps all profit
13. 13.True or false: “one owner runs it” is true of a sole trader. (a) True (b) False
14. 14.Which of these is true of a sole trader? (a) owned by shareholders (b) a separate legal body (c) owners’ risk is limited (d) simplest to start
15. 15.Which of these is true of a sole trader? (a) a separate legal body (b) one owner runs it (c) owners’ risk is limited (d) owned by shareholders
16. 16.A small business sells 13 glasses of chai at ₹50 each. What is its revenue (in ₹)?
17. 17.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
18. 18.A small business sells 58 handmade cards at ₹25 each. Its costs are ₹800. What is its profit (in ₹)?
19. 19.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
20. 20.A small business sells 55 handmade cards at ₹10 each. Its costs are ₹350. What is its profit (in ₹)?
21. 21.🏢 Sole trader or company: run by directors? (a) a sole trader (b) a company
22. 22.A small business selling glasses of chai had a revenue of ₹2400 and a profit of ₹1960. What were its costs (in ₹)?
23. 23.🏢 Sole trader or company: owned by shareholders? (a) a company (b) a sole trader
24. 24.📊 Revenue or profit: left after all costs? (a) profit (b) revenue
25. 25.A small business sells 23 bags of popcorn at ₹30 each. Its costs are ₹110. What is its profit (in ₹)?
26. 26.A small business sells 31 glasses of chai at ₹15 each. What is its revenue (in ₹)?
27. 27.👤 A sole trader is… (a) a bank (b) a one-owner business (c) a big company (d) a school club
28. 28.A small business sells 44 fruit cups at ₹30 each. What is its revenue (in ₹)?
29. 29.A small business selling friendship bands had a revenue of ₹550 and a profit of ₹350. What were its costs (in ₹)?
30. 30.🏢 Sole trader or company: owners’ risk is limited? (a) a sole trader (b) a company
31. 31.A small business sells 17 handmade cards at ₹20 each. What is its revenue (in ₹)?
32. 32.Which of these is true of a sole trader? (a) owner owes the debts (b) owners’ risk is limited (c) a separate legal body (d) run by directors
33. 33.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
34. 34.🏢 Sole trader or company: simplest to start? (a) a sole trader (b) a company
35. 35.🏢 A company is owned by… (a) its shareholders (b) the government always (c) its customers (d) its suppliers
36. 36.True or false: “owner keeps all profit” is true of a company. (a) False (b) True
37. 37.True or false: “run by directors” is true of a sole trader. (a) False (b) True
38. 38.A small business sells 41 bags of popcorn at ₹40 each. Its costs are ₹1590. What is its profit (in ₹)?
39. 39.A small business selling bags of popcorn had a revenue of ₹1530 and a profit of ₹1340. What were its costs (in ₹)?
40. 40.A small business sells 20 handmade cards at ₹20 each. Its costs are ₹330. What is its profit (in ₹)?

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