Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 574 · 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 25 cups of lemonade at ₹15 each. What is its revenue (in ₹)?
2. 2.A small business sells 19 paper bookmarks at ₹40 each. What is its revenue (in ₹)?
3. 3.A small business sells 41 painted pebbles at ₹45 each. What is its revenue (in ₹)?
4. 4.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
5. 5.📊 Revenue or profit: goes up if costs fall? (a) profit (b) revenue
6. 6.Which of these is true of a sole trader? (a) owned by shareholders (b) owners’ risk is limited (c) owner keeps all profit (d) run by directors
7. 7.📊 Revenue or profit: price × number sold? (a) revenue (b) profit
8. 8.True or false: “a separate legal body” is true of a company. (a) False (b) True
9. 9.True or false: “owner keeps all profit” is true of a company. (a) False (b) True
10. 10.A small business sells 35 jute bags at ₹5 each. What is its revenue (in ₹)?
11. 11.A small business selling cupcakes had a revenue of ₹430 and a profit of ₹150. What were its costs (in ₹)?
12. 12.👤 A sole trader is… (a) a one-owner business (b) a big company (c) a bank (d) a school club
13. 13.Which of these is true of a company? (a) one owner runs it (b) owner keeps all profit (c) simplest to start (d) owners’ risk is limited
14. 14.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
15. 15.Which of these is true of a company? (a) run by directors (b) simplest to start (c) one owner runs it (d) owner owes the debts
16. 16.🏢 Sole trader or company: simplest to start? (a) a company (b) a sole trader
17. 17.📜 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
18. 18.A small business selling bags of popcorn had a revenue of ₹210 and a profit of ₹130. What were its costs (in ₹)?
19. 19.📊 Revenue or profit: money in before costs? (a) revenue (b) profit
20. 20.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
21. 21.📊 Revenue or profit: revenue minus costs? (a) profit (b) revenue
22. 22.🎂 Can a 14-year-old run a business on their own? (a) only with adult help (b) yes, no one needed (c) only at night (d) never ever
23. 23.A small business selling jute bags had a revenue of ₹370 and a profit of ₹40. What were its costs (in ₹)?
24. 24.🏢 Sole trader or company: owner keeps all profit? (a) a sole trader (b) a company
25. 25.Which of these is true of a company? (a) simplest to start (b) one owner runs it (c) owner owes the debts (d) owned by shareholders
26. 26.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
27. 27.Which of these is true of a sole trader? (a) run by directors (b) owned by shareholders (c) owner owes the debts (d) owners’ risk is limited
28. 28.A small business sells 17 bags of popcorn at ₹10 each. What is its revenue (in ₹)?
29. 29.True or false: “owned by shareholders” is true of a company. (a) False (b) True
30. 30.True or false: “owner keeps all profit” is true of a sole trader. (a) False (b) True
31. 31.📊 Revenue minus costs equals… (a) profit (b) revenue (c) stock (d) price
32. 32.A small business selling painted pebbles had a revenue of ₹435 and a profit of ₹405. What were its costs (in ₹)?
33. 33.A small business sells 16 clay diyas at ₹50 each. What is its revenue (in ₹)?
34. 34.Which of these is true of a sole trader? (a) run by directors (b) simplest to start (c) owned by shareholders (d) a separate legal body
35. 35.A small business sells 55 glasses of chai at ₹15 each. Its costs are ₹480. What is its profit (in ₹)?
36. 36.True or false: “owners’ risk is limited” is true of a company. (a) False (b) True
37. 37.A small business sells 55 bags of popcorn at ₹5 each. Its costs are ₹260. What is its profit (in ₹)?
38. 38.A small business sells 42 paper bookmarks at ₹25 each. Its costs are ₹250. What is its profit (in ₹)?
39. 39.A small business selling cupcakes had a revenue of ₹855 and a profit of ₹375. What were its costs (in ₹)?
40. 40.A small business sells 48 potted plants at ₹20 each. What is its revenue (in ₹)?

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