Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 67 · 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 painted pebbles had a revenue of ₹1200 and a profit of ₹310. What were its costs (in ₹)?
2. 2.A small business sells 37 potted plants at ₹20 each. Its costs are ₹210. What is its profit (in ₹)?
3. 3.A small business sells 26 potted plants at ₹30 each. Its costs are ₹240. What is its profit (in ₹)?
4. 4.A small business sells 42 handmade cards at ₹45 each. Its costs are ₹130. What is its profit (in ₹)?
5. 5.A small business sells 35 potted plants at ₹35 each. What is its revenue (in ₹)?
6. 6.Which of these is true of a company? (a) owner owes the debts (b) one owner runs it (c) owned by shareholders (d) owner keeps all profit
7. 7.Which of these is true of a sole trader? (a) a separate legal body (b) owned by shareholders (c) run by directors (d) owner owes the debts
8. 8.A small business sells 22 fruit cups at ₹50 each. What is its revenue (in ₹)?
9. 9.📜 Who should explain tax or legal rules for a business? (a) a classmate (b) an adult or an expert (c) nobody (d) a random video
10. 10.📊 Revenue minus costs equals… (a) price (b) revenue (c) profit (d) stock
11. 11.🏢 Sole trader or company: simplest to start? (a) a company (b) a sole trader
12. 12.A small business sells 48 handmade cards at ₹35 each. What is its revenue (in ₹)?
13. 13.Which of these is true of a sole trader? (a) owners’ risk is limited (b) simplest to start (c) owned by shareholders (d) a separate legal body
14. 14.🏢 Sole trader or company: a separate legal body? (a) a sole trader (b) a company
15. 15.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
16. 16.👤 A sole trader is… (a) a bank (b) a school club (c) a one-owner business (d) a big company
17. 17.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
18. 18.📊 Revenue or profit: money in before costs? (a) profit (b) revenue
19. 19.🏢 Sole trader or company: run by directors? (a) a company (b) a sole trader
20. 20.A small business selling glasses of chai had a revenue of ₹1230 and a profit of ₹710. What were its costs (in ₹)?
21. 21.A small business sells 16 clay diyas at ₹25 each. Its costs are ₹50. What is its profit (in ₹)?
22. 22.A small business selling paper bookmarks had a revenue of ₹1000 and a profit of ₹70. What were its costs (in ₹)?
23. 23.A small business sells 43 fruit cups at ₹45 each. Its costs are ₹1120. What is its profit (in ₹)?
24. 24.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
25. 25.A small business selling clay diyas had a revenue of ₹825 and a profit of ₹565. What were its costs (in ₹)?
26. 26.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
27. 27.True or false: “one owner runs it” is true of a sole trader. (a) True (b) False
28. 28.Which of these is true of a sole trader? (a) one owner runs it (b) a separate legal body (c) owners’ risk is limited (d) owned by shareholders
29. 29.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
30. 30.Which of these is true of a company? (a) one owner runs it (b) owner keeps all profit (c) owner owes the debts (d) run by directors
31. 31.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
32. 32.A small business sells 52 handmade cards at ₹5 each. What is its revenue (in ₹)?
33. 33.A small business sells 44 cups of lemonade at ₹15 each. Its costs are ₹520. What is its profit (in ₹)?
34. 34.Which of these is true of a company? (a) owner keeps all profit (b) one owner runs it (c) a separate legal body (d) owner owes the debts
35. 35.True or false: “owners’ risk is limited” is true of a company. (a) False (b) True
36. 36.A small business sells 14 fruit cups at ₹5 each. What is its revenue (in ₹)?
37. 37.True or false: “simplest to start” is true of a company. (a) False (b) True
38. 38.A small business sells 32 friendship bands at ₹50 each. Its costs are ₹60. What is its profit (in ₹)?
39. 39.A small business sells 39 glasses of chai at ₹15 each. Its costs are ₹200. What is its profit (in ₹)?
40. 40.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit

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