Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 631 · 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 handmade cards had a revenue of ₹235 and a profit of ₹25. What were its costs (in ₹)?
2. 2.True or false: “simplest to start” is true of a company. (a) True (b) False
3. 3.🎂 Can a 14-year-old run a business on their own? (a) only at night (b) only with adult help (c) yes, no one needed (d) never ever
4. 4.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
5. 5.A small business sells 57 jute bags at ₹35 each. What is its revenue (in ₹)?
6. 6.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
7. 7.True or false: “owner keeps all profit” is true of a company. (a) True (b) False
8. 8.Which of these is true of a company? (a) simplest to start (b) owner keeps all profit (c) owners’ risk is limited (d) one owner runs it
9. 9.Which of these is true of a company? (a) one owner runs it (b) owner owes the debts (c) a separate legal body (d) owner keeps all profit
10. 10.A small business sells 55 glasses of chai at ₹50 each. What is its revenue (in ₹)?
11. 11.🏢 Sole trader or company: run by directors? (a) a sole trader (b) a company
12. 12.A small business selling handmade cards had a revenue of ₹615 and a profit of ₹75. What were its costs (in ₹)?
13. 13.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
14. 14.A small business sells 41 jute bags at ₹5 each. What is its revenue (in ₹)?
15. 15.A small business selling glasses of chai had a revenue of ₹570 and a profit of ₹560. What were its costs (in ₹)?
16. 16.A small business sells 10 paper bookmarks at ₹20 each. Its costs are ₹30. What is its profit (in ₹)?
17. 17.🏢 A company is owned by… (a) its customers (b) its shareholders (c) its suppliers (d) the government always
18. 18.A small business sells 19 clay diyas at ₹40 each. Its costs are ₹500. What is its profit (in ₹)?
19. 19.A small business sells 20 potted plants at ₹25 each. What is its revenue (in ₹)?
20. 20.🏢 Sole trader or company: simplest to start? (a) a sole trader (b) a company
21. 21.A small business selling handmade cards had a revenue of ₹460 and a profit of ₹380. What were its costs (in ₹)?
22. 22.👤 A sole trader is… (a) a school club (b) a big company (c) a bank (d) a one-owner business
23. 23.🏢 Sole trader or company: owners’ risk is limited? (a) a sole trader (b) a company
24. 24.A small business selling jute bags had a revenue of ₹350 and a profit of ₹10. What were its costs (in ₹)?
25. 25.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
26. 26.Which of these is true of a company? (a) owner owes the debts (b) owned by shareholders (c) simplest to start (d) owner keeps all profit
27. 27.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
28. 28.A small business sells 35 fruit cups at ₹20 each. Its costs are ₹680. What is its profit (in ₹)?
29. 29.A small business selling painted pebbles had a revenue of ₹135 and a profit of ₹15. What were its costs (in ₹)?
30. 30.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
31. 31.A small business sells 36 friendship bands at ₹20 each. What is its revenue (in ₹)?
32. 32.True or false: “owners’ risk is limited” is true of a company. (a) False (b) True
33. 33.A small business selling fruit cups had a revenue of ₹1160 and a profit of ₹340. What were its costs (in ₹)?
34. 34.📊 Revenue or profit: revenue minus costs? (a) profit (b) revenue
35. 35.A small business sells 10 painted pebbles at ₹35 each. What is its revenue (in ₹)?
36. 36.Which of these is true of a sole trader? (a) owner keeps all profit (b) run by directors (c) owned by shareholders (d) a separate legal body
37. 37.📜 Who should explain tax or legal rules for a business? (a) nobody (b) a classmate (c) a random video (d) an adult or an expert
38. 38.True or false: “owner owes the debts” is true of a company. (a) True (b) False
39. 39.📊 Revenue or profit: money in before costs? (a) revenue (b) profit
40. 40.A small business sells 48 handmade cards at ₹25 each. Its costs are ₹940. What is its profit (in ₹)?

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