Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 697 · 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: owners’ risk is limited? (a) a sole trader (b) a company
2. 2.Which of these is true of a company? (a) one owner runs it (b) simplest to start (c) a separate legal body (d) owner keeps all profit
3. 3.A small business sells 22 handmade cards at ₹30 each. What is its revenue (in ₹)?
4. 4.A small business sells 20 painted pebbles at ₹5 each. What is its revenue (in ₹)?
5. 5.📊 Revenue or profit: money in before costs? (a) profit (b) revenue
6. 6.A small business sells 57 paper bookmarks at ₹30 each. What is its revenue (in ₹)?
7. 7.A small business sells 54 jute bags at ₹10 each. What is its revenue (in ₹)?
8. 8.A small business sells 45 bags of popcorn at ₹40 each. What is its revenue (in ₹)?
9. 9.A small business sells 28 glasses of chai at ₹5 each. Its costs are ₹120. What is its profit (in ₹)?
10. 10.🏢 Sole trader or company: run by directors? (a) a sole trader (b) a company
11. 11.🏢 Sole trader or company: owner keeps all profit? (a) a sole trader (b) a company
12. 12.Which of these is true of a company? (a) one owner runs it (b) owner keeps all profit (c) owner owes the debts (d) owned by shareholders
13. 13.A small business sells 24 jute bags at ₹25 each. What is its revenue (in ₹)?
14. 14.👤 A sole trader is… (a) a one-owner business (b) a bank (c) a big company (d) a school club
15. 15.A small business selling handmade cards had a revenue of ₹2040 and a profit of ₹100. What were its costs (in ₹)?
16. 16.🎂 Can a 14-year-old run a business on their own? (a) yes, no one needed (b) never ever (c) only at night (d) only with adult help
17. 17.🏢 Sole trader or company: a separate legal body? (a) a sole trader (b) a company
18. 18.A small business sells 52 fruit cups at ₹50 each. Its costs are ₹510. What is its profit (in ₹)?
19. 19.🏢 A company is owned by… (a) the government always (b) its customers (c) its suppliers (d) its shareholders
20. 20.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
21. 21.True or false: “owners’ risk is limited” is true of a sole trader. (a) True (b) False
22. 22.A small business sells 18 cups of lemonade at ₹15 each. Its costs are ₹10. What is its profit (in ₹)?
23. 23.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
24. 24.📜 Who should explain tax or legal rules for a business? (a) an adult or an expert (b) a classmate (c) nobody (d) a random video
25. 25.A small business sells 29 paper bookmarks at ₹20 each. What is its revenue (in ₹)?
26. 26.A small business selling jute bags had a revenue of ₹440 and a profit of ₹190. What were its costs (in ₹)?
27. 27.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
28. 28.True or false: “one owner runs it” is true of a sole trader. (a) False (b) True
29. 29.Which of these is true of a sole trader? (a) owners’ risk is limited (b) a separate legal body (c) one owner runs it (d) owned by shareholders
30. 30.True or false: “simplest to start” is true of a sole trader. (a) True (b) False
31. 31.📊 Revenue or profit: price × number sold? (a) revenue (b) profit
32. 32.A small business selling glasses of chai had a revenue of ₹180 and a profit of ₹120. What were its costs (in ₹)?
33. 33.True or false: “owned by shareholders” is true of a company. (a) True (b) False
34. 34.A small business selling jute bags had a revenue of ₹1900 and a profit of ₹800. What were its costs (in ₹)?
35. 35.A small business sells 10 paper bookmarks at ₹50 each. What is its revenue (in ₹)?
36. 36.Which of these is true of a company? (a) simplest to start (b) owner owes the debts (c) owners’ risk is limited (d) owner keeps all profit
37. 37.A small business selling bags of popcorn had a revenue of ₹540 and a profit of ₹230. What were its costs (in ₹)?
38. 38.A small business sells 36 potted plants at ₹15 each. What is its revenue (in ₹)?
39. 39.True or false: “one owner runs it” is true of a company. (a) False (b) True
40. 40.A small business selling friendship bands had a revenue of ₹2550 and a profit of ₹1290. What were its costs (in ₹)?

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