Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 66 · 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 49 clay diyas at ₹20 each. What is its revenue (in ₹)?
2. 2.Which of these is true of a sole trader? (a) owned by shareholders (b) run by directors (c) one owner runs it (d) a separate legal body
3. 3.A small business selling bags of popcorn had a revenue of ₹2280 and a profit of ₹300. What were its costs (in ₹)?
4. 4.🏢 Sole trader or company: a separate legal body? (a) a sole trader (b) a company
5. 5.A small business selling potted plants had a revenue of ₹420 and a profit of ₹270. What were its costs (in ₹)?
6. 6.A small business sells 29 handmade cards at ₹25 each. What is its revenue (in ₹)?
7. 7.A small business sells 40 cupcakes at ₹25 each. What is its revenue (in ₹)?
8. 8.A small business selling handmade cards had a revenue of ₹1850 and a profit of ₹1260. What were its costs (in ₹)?
9. 9.🏢 Sole trader or company: simplest to start? (a) a sole trader (b) a company
10. 10.A small business sells 47 glasses of chai at ₹30 each. Its costs are ₹170. What is its profit (in ₹)?
11. 11.True or false: “one owner runs it” is true of a sole trader. (a) True (b) False
12. 12.A small business selling bags of popcorn had a revenue of ₹825 and a profit of ₹495. What were its costs (in ₹)?
13. 13.📜 Who should explain tax or legal rules for a business? (a) a random video (b) a classmate (c) an adult or an expert (d) nobody
14. 14.A small business sells 14 cupcakes at ₹40 each. What is its revenue (in ₹)?
15. 15.A small business sells 46 fruit cups at ₹40 each. What is its revenue (in ₹)?
16. 16.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
17. 17.A small business selling cups of lemonade had a revenue of ₹325 and a profit of ₹55. What were its costs (in ₹)?
18. 18.A small business selling friendship bands had a revenue of ₹1020 and a profit of ₹270. What were its costs (in ₹)?
19. 19.📊 Revenue or profit: goes up if costs fall? (a) profit (b) revenue
20. 20.Which of these is true of a company? (a) owner owes the debts (b) run by directors (c) one owner runs it (d) simplest to start
21. 21.👤 A sole trader is… (a) a school club (b) a big company (c) a one-owner business (d) a bank
22. 22.📊 Revenue minus costs equals… (a) price (b) revenue (c) profit (d) stock
23. 23.🎂 Can a 14-year-old run a business on their own? (a) only at night (b) only with adult help (c) never ever (d) yes, no one needed
24. 24.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
25. 25.A small business sells 52 cups of lemonade at ₹10 each. What is its revenue (in ₹)?
26. 26.A small business selling cups of lemonade had a revenue of ₹920 and a profit of ₹780. What were its costs (in ₹)?
27. 27.A small business sells 40 bags of popcorn at ₹5 each. Its costs are ₹140. What is its profit (in ₹)?
28. 28.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
29. 29.True or false: “owner keeps all profit” is true of a sole trader. (a) False (b) True
30. 30.A small business sells 17 handmade cards at ₹30 each. What is its revenue (in ₹)?
31. 31.A small business sells 30 fruit cups at ₹50 each. What is its revenue (in ₹)?
32. 32.Which of these is true of a company? (a) owner keeps all profit (b) owned by shareholders (c) simplest to start (d) one owner runs it
33. 33.True or false: “simplest to start” is true of a sole trader. (a) False (b) True
34. 34.True or false: “a separate legal body” is true of a company. (a) False (b) True
35. 35.Which of these is true of a sole trader? (a) owner owes the debts (b) owned by shareholders (c) owners’ risk is limited (d) a separate legal body
36. 36.A small business sells 11 paper bookmarks at ₹15 each. What is its revenue (in ₹)?
37. 37.A small business sells 52 handmade cards at ₹40 each. What is its revenue (in ₹)?
38. 38.True or false: “owners’ risk is limited” is true of a sole trader. (a) False (b) True
39. 39.A small business selling bags of popcorn had a revenue of ₹795 and a profit of ₹265. What were its costs (in ₹)?
40. 40.🏢 Sole trader or company: owners’ risk is limited? (a) a sole trader (b) a company

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