Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 652 · 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.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
2. 2.Which of these is true of a company? (a) owner owes the debts (b) owned by shareholders (c) owner keeps all profit (d) simplest to start
3. 3.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
4. 4.🏢 A company is owned by… (a) its customers (b) the government always (c) its shareholders (d) its suppliers
5. 5.A small business sells 50 cups of lemonade at ₹20 each. What is its revenue (in ₹)?
6. 6.True or false: “owned by shareholders” is true of a company. (a) False (b) True
7. 7.📊 Revenue or profit: price × number sold? (a) revenue (b) profit
8. 8.📜 Who should explain tax or legal rules for a business? (a) a classmate (b) nobody (c) an adult or an expert (d) a random video
9. 9.🏢 Sole trader or company: owned by shareholders? (a) a company (b) a sole trader
10. 10.True or false: “owners’ risk is limited” is true of a sole trader. (a) True (b) False
11. 11.A small business sells 36 cupcakes at ₹30 each. What is its revenue (in ₹)?
12. 12.🏢 Sole trader or company: owners’ risk is limited? (a) a sole trader (b) a company
13. 13.A small business selling clay diyas had a revenue of ₹420 and a profit of ₹90. What were its costs (in ₹)?
14. 14.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
15. 15.Which of these is true of a sole trader? (a) owned by shareholders (b) owners’ risk is limited (c) a separate legal body (d) owner owes the debts
16. 16.A small business sells 30 paper bookmarks at ₹5 each. What is its revenue (in ₹)?
17. 17.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
18. 18.True or false: “owner keeps all profit” is true of a company. (a) False (b) True
19. 19.A small business selling paper bookmarks had a revenue of ₹840 and a profit of ₹230. What were its costs (in ₹)?
20. 20.A small business selling fruit cups had a revenue of ₹145 and a profit of ₹115. What were its costs (in ₹)?
21. 21.A small business sells 53 painted pebbles at ₹45 each. What is its revenue (in ₹)?
22. 22.🏢 Sole trader or company: owner keeps all profit? (a) a sole trader (b) a company
23. 23.A small business selling cups of lemonade had a revenue of ₹720 and a profit of ₹350. What were its costs (in ₹)?
24. 24.Which of these is true of a company? (a) simplest to start (b) owners’ risk is limited (c) owner keeps all profit (d) one owner runs it
25. 25.🎂 Can a 14-year-old run a business on their own? (a) only at night (b) yes, no one needed (c) only with adult help (d) never ever
26. 26.True or false: “simplest to start” is true of a sole trader. (a) True (b) False
27. 27.A small business sells 32 glasses of chai at ₹50 each. Its costs are ₹880. What is its profit (in ₹)?
28. 28.Which of these is true of a sole trader? (a) owned by shareholders (b) a separate legal body (c) simplest to start (d) run by directors
29. 29.A small business sells 56 cups of lemonade at ₹25 each. What is its revenue (in ₹)?
30. 30.Which of these is true of a sole trader? (a) a separate legal body (b) run by directors (c) owned by shareholders (d) owner keeps all profit
31. 31.A small business sells 24 bags of popcorn at ₹10 each. What is its revenue (in ₹)?
32. 32.True or false: “one owner runs it” is true of a sole trader. (a) True (b) False
33. 33.A small business sells 15 handmade cards at ₹10 each. Its costs are ₹100. What is its profit (in ₹)?
34. 34.Which of these is true of a sole trader? (a) a separate legal body (b) one owner runs it (c) owned by shareholders (d) owners’ risk is limited
35. 35.👤 A sole trader is… (a) a bank (b) a school club (c) a big company (d) a one-owner business
36. 36.A small business sells 15 cups of lemonade at ₹20 each. What is its revenue (in ₹)?
37. 37.A small business selling clay diyas had a revenue of ₹235 and a profit of ₹25. What were its costs (in ₹)?
38. 38.A small business selling jute bags had a revenue of ₹3000 and a profit of ₹2950. What were its costs (in ₹)?
39. 39.A small business selling jute bags had a revenue of ₹495 and a profit of ₹45. What were its costs (in ₹)?
40. 40.A small business sells 46 painted pebbles at ₹5 each. What is its revenue (in ₹)?

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