Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 693 · 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.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
2. 2.Which of these is true of a sole trader? (a) a separate legal body (b) owners’ risk is limited (c) owner owes the debts (d) owned by shareholders
3. 3.📜 Who should explain tax or legal rules for a business? (a) a classmate (b) an adult or an expert (c) a random video (d) nobody
4. 4.A small business sells 19 handmade cards at ₹25 each. Its costs are ₹10. What is its profit (in ₹)?
5. 5.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
6. 6.A small business sells 27 friendship bands at ₹30 each. What is its revenue (in ₹)?
7. 7.A small business selling painted pebbles had a revenue of ₹880 and a profit of ₹330. What were its costs (in ₹)?
8. 8.A small business sells 10 painted pebbles at ₹35 each. Its costs are ₹240. What is its profit (in ₹)?
9. 9.Which of these is true of a company? (a) run by directors (b) owner owes the debts (c) simplest to start (d) one owner runs it
10. 10.Which of these is true of a sole trader? (a) run by directors (b) a separate legal body (c) owned by shareholders (d) one owner runs it
11. 11.A small business sells 44 cupcakes at ₹10 each. Its costs are ₹270. What is its profit (in ₹)?
12. 12.A small business sells 22 bags of popcorn at ₹10 each. What is its revenue (in ₹)?
13. 13.🏢 Sole trader or company: owner keeps all profit? (a) a sole trader (b) a company
14. 14.A small business sells 49 paper bookmarks at ₹25 each. Its costs are ₹720. What is its profit (in ₹)?
15. 15.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
16. 16.📊 Revenue or profit: money in before costs? (a) revenue (b) profit
17. 17.📊 Revenue minus costs equals… (a) revenue (b) price (c) stock (d) profit
18. 18.A small business sells 58 bags of popcorn at ₹50 each. What is its revenue (in ₹)?
19. 19.True or false: “run by directors” is true of a company. (a) False (b) True
20. 20.A small business selling fruit cups had a revenue of ₹330 and a profit of ₹10. What were its costs (in ₹)?
21. 21.True or false: “run by directors” is true of a sole trader. (a) False (b) True
22. 22.👤 A sole trader is… (a) a big company (b) a one-owner business (c) a bank (d) a school club
23. 23.A small business sells 18 bags of popcorn at ₹15 each. What is its revenue (in ₹)?
24. 24.A small business sells 14 friendship bands at ₹10 each. What is its revenue (in ₹)?
25. 25.A small business sells 11 clay diyas at ₹40 each. What is its revenue (in ₹)?
26. 26.🏢 Sole trader or company: simplest to start? (a) a sole trader (b) a company
27. 27.A small business sells 43 clay diyas at ₹50 each. What is its revenue (in ₹)?
28. 28.True or false: “owner owes the debts” is true of a sole trader. (a) False (b) True
29. 29.True or false: “a separate legal body” is true of a company. (a) False (b) True
30. 30.True or false: “owner keeps all profit” is true of a sole trader. (a) True (b) False
31. 31.A small business sells 41 handmade cards at ₹25 each. Its costs are ₹90. What is its profit (in ₹)?
32. 32.Which of these is true of a sole trader? (a) a separate legal body (b) simplest to start (c) owners’ risk is limited (d) owned by shareholders
33. 33.A small business sells 42 bags of popcorn at ₹45 each. Its costs are ₹600. What is its profit (in ₹)?
34. 34.True or false: “one owner runs it” is true of a company. (a) False (b) True
35. 35.🏢 Sole trader or company: owner owes the debts? (a) a sole trader (b) a company
36. 36.A small business sells 19 glasses of chai at ₹30 each. Its costs are ₹390. What is its profit (in ₹)?
37. 37.A small business sells 37 paper bookmarks at ₹45 each. What is its revenue (in ₹)?
38. 38.A small business selling cupcakes had a revenue of ₹1590 and a profit of ₹220. What were its costs (in ₹)?
39. 39.A small business sells 21 fruit cups at ₹5 each. What is its revenue (in ₹)?
40. 40.A small business sells 45 cups of lemonade at ₹35 each. What is its revenue (in ₹)?

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