Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 576 · 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.🏢 Sole trader or company: run by directors? (a) a sole trader (b) a company
2. 2.Which of these is true of a sole trader? (a) owners’ risk is limited (b) a separate legal body (c) owner owes the debts (d) run by directors
3. 3.A small business sells 36 painted pebbles at ₹15 each. Its costs are ₹60. What is its profit (in ₹)?
4. 4.Which of these is true of a sole trader? (a) a separate legal body (b) owners’ risk is limited (c) simplest to start (d) run by directors
5. 5.A small business selling clay diyas had a revenue of ₹2030 and a profit of ₹390. What were its costs (in ₹)?
6. 6.Which of these is true of a company? (a) owner owes the debts (b) owners’ risk is limited (c) simplest to start (d) one owner runs it
7. 7.A small business selling paper bookmarks had a revenue of ₹725 and a profit of ₹645. What were its costs (in ₹)?
8. 8.A small business selling paper bookmarks had a revenue of ₹440 and a profit of ₹390. What were its costs (in ₹)?
9. 9.True or false: “owner owes the debts” is true of a sole trader. (a) False (b) True
10. 10.A small business sells 41 cupcakes at ₹20 each. Its costs are ₹720. What is its profit (in ₹)?
11. 11.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
12. 12.A small business sells 45 fruit cups at ₹5 each. What is its revenue (in ₹)?
13. 13.A small business sells 49 fruit cups at ₹25 each. Its costs are ₹960. What is its profit (in ₹)?
14. 14.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
15. 15.🏢 Sole trader or company: simplest to start? (a) a sole trader (b) a company
16. 16.True or false: “simplest to start” is true of a sole trader. (a) False (b) True
17. 17.Which of these is true of a sole trader? (a) owned by shareholders (b) a separate legal body (c) one owner runs it (d) owners’ risk is limited
18. 18.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
19. 19.A small business selling potted plants had a revenue of ₹840 and a profit of ₹170. What were its costs (in ₹)?
20. 20.A small business selling painted pebbles had a revenue of ₹2650 and a profit of ₹380. What were its costs (in ₹)?
21. 21.🏢 Sole trader or company: owned by shareholders? (a) a company (b) a sole trader
22. 22.A small business sells 41 jute bags at ₹20 each. Its costs are ₹110. What is its profit (in ₹)?
23. 23.🏢 Sole trader or company: owners’ risk is limited? (a) a sole trader (b) a company
24. 24.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
25. 25.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
26. 26.A small business sells 20 painted pebbles at ₹45 each. What is its revenue (in ₹)?
27. 27.A small business selling fruit cups had a revenue of ₹250 and a profit of ₹190. What were its costs (in ₹)?
28. 28.True or false: “owned by shareholders” is true of a sole trader. (a) True (b) False
29. 29.🎂 Can a 14-year-old run a business on their own? (a) only at night (b) yes, no one needed (c) never ever (d) only with adult help
30. 30.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
31. 31.A small business sells 43 clay diyas at ₹20 each. What is its revenue (in ₹)?
32. 32.A small business sells 45 jute bags at ₹5 each. Its costs are ₹30. What is its profit (in ₹)?
33. 33.👤 A sole trader is… (a) a big company (b) a school club (c) a bank (d) a one-owner business
34. 34.A small business sells 18 cupcakes at ₹50 each. What is its revenue (in ₹)?
35. 35.A small business sells 11 jute bags at ₹15 each. Its costs are ₹50. What is its profit (in ₹)?
36. 36.True or false: “one owner runs it” is true of a company. (a) False (b) True
37. 37.A small business sells 58 cupcakes at ₹30 each. What is its revenue (in ₹)?
38. 38.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
39. 39.A small business sells 19 painted pebbles at ₹30 each. What is its revenue (in ₹)?
40. 40.A small business sells 45 cupcakes at ₹30 each. What is its revenue (in ₹)?

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