Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 680 · 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 42 cups of lemonade at ₹45 each. What is its revenue (in ₹)?
2. 2.True or false: “simplest to start” is true of a sole trader. (a) False (b) True
3. 3.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
4. 4.True or false: “simplest to start” is true of a company. (a) False (b) True
5. 5.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
6. 6.🏢 Sole trader or company: simplest to start? (a) a sole trader (b) a company
7. 7.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
8. 8.Which of these is true of a sole trader? (a) owners’ risk is limited (b) run by directors (c) a separate legal body (d) simplest to start
9. 9.A small business sells 53 bags of popcorn at ₹15 each. What is its revenue (in ₹)?
10. 10.🎂 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
11. 11.True or false: “owners’ risk is limited” is true of a company. (a) True (b) False
12. 12.Which of these is true of a sole trader? (a) owners’ risk is limited (b) owner owes the debts (c) a separate legal body (d) owned by shareholders
13. 13.Which of these is true of a sole trader? (a) owners’ risk is limited (b) owned by shareholders (c) owner keeps all profit (d) run by directors
14. 14.Which of these is true of a sole trader? (a) owned by shareholders (b) one owner runs it (c) run by directors (d) owners’ risk is limited
15. 15.🏢 Sole trader or company: run by directors? (a) a company (b) a sole trader
16. 16.True or false: “owner owes the debts” is true of a sole trader. (a) False (b) True
17. 17.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
18. 18.A small business sells 45 painted pebbles at ₹25 each. What is its revenue (in ₹)?
19. 19.📜 Who should explain tax or legal rules for a business? (a) nobody (b) an adult or an expert (c) a random video (d) a classmate
20. 20.A small business sells 41 bags of popcorn at ₹20 each. What is its revenue (in ₹)?
21. 21.📊 Revenue or profit: money in before costs? (a) revenue (b) profit
22. 22.A small business sells 34 painted pebbles at ₹15 each. What is its revenue (in ₹)?
23. 23.A small business sells 60 potted plants at ₹15 each. What is its revenue (in ₹)?
24. 24.📊 Revenue minus costs equals… (a) profit (b) revenue (c) price (d) stock
25. 25.True or false: “a separate legal body” is true of a company. (a) False (b) True
26. 26.A small business selling potted plants had a revenue of ₹570 and a profit of ₹480. What were its costs (in ₹)?
27. 27.Which of these is true of a company? (a) owner owes the debts (b) one owner runs it (c) simplest to start (d) owned by shareholders
28. 28.A small business sells 34 cups of lemonade at ₹15 each. What is its revenue (in ₹)?
29. 29.🏢 A company is owned by… (a) its customers (b) the government always (c) its shareholders (d) its suppliers
30. 30.True or false: “owner keeps all profit” is true of a company. (a) False (b) True
31. 31.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
32. 32.👤 A sole trader is… (a) a one-owner business (b) a big company (c) a bank (d) a school club
33. 33.True or false: “run by directors” is true of a sole trader. (a) True (b) False
34. 34.A small business sells 27 cupcakes at ₹25 each. Its costs are ₹10. What is its profit (in ₹)?
35. 35.A small business sells 55 glasses of chai at ₹40 each. Its costs are ₹1340. What is its profit (in ₹)?
36. 36.True or false: “owned by shareholders” is true of a company. (a) True (b) False
37. 37.A small business selling handmade cards had a revenue of ₹680 and a profit of ₹560. What were its costs (in ₹)?
38. 38.A small business selling handmade cards had a revenue of ₹100 and a profit of ₹10. What were its costs (in ₹)?
39. 39.True or false: “one owner runs it” is true of a company. (a) False (b) True
40. 40.A small business sells 55 fruit cups at ₹35 each. What is its revenue (in ₹)?

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