Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 71 · 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.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
2. 2.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
3. 3.🏢 A company is owned by… (a) the government always (b) its shareholders (c) its customers (d) its suppliers
4. 4.A small business selling glasses of chai had a revenue of ₹800 and a profit of ₹740. What were its costs (in ₹)?
5. 5.A small business sells 36 paper bookmarks at ₹30 each. What is its revenue (in ₹)?
6. 6.🎂 Can a 14-year-old run a business on their own? (a) only at night (b) only with adult help (c) yes, no one needed (d) never ever
7. 7.A small business selling paper bookmarks had a revenue of ₹625 and a profit of ₹415. What were its costs (in ₹)?
8. 8.📊 Revenue or profit: goes up if costs fall? (a) profit (b) revenue
9. 9.🏢 Sole trader or company: simplest to start? (a) a company (b) a sole trader
10. 10.A small business sells 52 cups of lemonade at ₹40 each. Its costs are ₹600. What is its profit (in ₹)?
11. 11.📜 Who should explain tax or legal rules for a business? (a) a classmate (b) a random video (c) an adult or an expert (d) nobody
12. 12.Which of these is true of a sole trader? (a) one owner runs it (b) owners’ risk is limited (c) a separate legal body (d) owned by shareholders
13. 13.👤 A sole trader is… (a) a big company (b) a school club (c) a one-owner business (d) a bank
14. 14.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
15. 15.A small business selling bags of popcorn had a revenue of ₹60 and a profit of ₹20. What were its costs (in ₹)?
16. 16.A small business sells 18 handmade cards at ₹50 each. What is its revenue (in ₹)?
17. 17.A small business sells 11 jute bags at ₹50 each. Its costs are ₹100. What is its profit (in ₹)?
18. 18.A small business sells 35 friendship bands at ₹5 each. Its costs are ₹140. What is its profit (in ₹)?
19. 19.Which of these is true of a sole trader? (a) simplest to start (b) run by directors (c) owned by shareholders (d) owners’ risk is limited
20. 20.A small business sells 11 glasses of chai at ₹25 each. What is its revenue (in ₹)?
21. 21.A small business selling handmade cards had a revenue of ₹250 and a profit of ₹240. What were its costs (in ₹)?
22. 22.A small business sells 43 cupcakes at ₹50 each. Its costs are ₹1650. What is its profit (in ₹)?
23. 23.A small business sells 12 glasses of chai at ₹15 each. What is its revenue (in ₹)?
24. 24.Which of these is true of a sole trader? (a) owned by shareholders (b) a separate legal body (c) owners’ risk is limited (d) owner keeps all profit
25. 25.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
26. 26.A small business sells 52 fruit cups at ₹35 each. Its costs are ₹730. What is its profit (in ₹)?
27. 27.Which of these is true of a company? (a) simplest to start (b) one owner runs it (c) owner keeps all profit (d) a separate legal body
28. 28.True or false: “run by directors” is true of a company. (a) True (b) False
29. 29.A small business selling potted plants had a revenue of ₹2115 and a profit of ₹265. What were its costs (in ₹)?
30. 30.Which of these is true of a company? (a) owner keeps all profit (b) owner owes the debts (c) owners’ risk is limited (d) one owner runs it
31. 31.A small business selling potted plants had a revenue of ₹1560 and a profit of ₹740. What were its costs (in ₹)?
32. 32.Which of these is true of a company? (a) owner keeps all profit (b) run by directors (c) one owner runs it (d) owner owes the debts
33. 33.A small business selling potted plants had a revenue of ₹110 and a profit of ₹70. What were its costs (in ₹)?
34. 34.🏢 Sole trader or company: owners’ risk is limited? (a) a company (b) a sole trader
35. 35.A small business sells 14 glasses of chai at ₹5 each. What is its revenue (in ₹)?
36. 36.📊 Revenue or profit: money in before costs? (a) revenue (b) profit
37. 37.A small business selling clay diyas had a revenue of ₹1180 and a profit of ₹550. What were its costs (in ₹)?
38. 38.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
39. 39.A small business selling painted pebbles had a revenue of ₹2360 and a profit of ₹2340. What were its costs (in ₹)?
40. 40.True or false: “owners’ risk is limited” is true of a company. (a) True (b) False

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