Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 712 · 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 58 handmade cards at ₹25 each. What is its revenue (in ₹)?
2. 2.Which of these is true of a company? (a) owner owes the debts (b) simplest to start (c) a separate legal body (d) one owner runs it
3. 3.👤 A sole trader is… (a) a one-owner business (b) a big company (c) a bank (d) a school club
4. 4.Which of these is true of a company? (a) owned by shareholders (b) one owner runs it (c) simplest to start (d) owner owes the debts
5. 5.A small business selling cups of lemonade had a revenue of ₹525 and a profit of ₹375. What were its costs (in ₹)?
6. 6.A small business sells 31 paper bookmarks at ₹20 each. What is its revenue (in ₹)?
7. 7.A small business sells 37 potted plants at ₹15 each. What is its revenue (in ₹)?
8. 8.True or false: “a separate legal body” is true of a sole trader. (a) False (b) True
9. 9.True or false: “simplest to start” is true of a sole trader. (a) False (b) True
10. 10.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
11. 11.📊 Revenue minus costs equals… (a) revenue (b) stock (c) price (d) profit
12. 12.A small business selling painted pebbles had a revenue of ₹350 and a profit of ₹150. What were its costs (in ₹)?
13. 13.A small business sells 19 friendship bands at ₹35 each. What is its revenue (in ₹)?
14. 14.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
15. 15.🎂 Can a 14-year-old run a business on their own? (a) never ever (b) yes, no one needed (c) only at night (d) only with adult help
16. 16.True or false: “owned by shareholders” is true of a company. (a) True (b) False
17. 17.True or false: “owners’ risk is limited” is true of a company. (a) True (b) False
18. 18.A small business sells 58 cups of lemonade at ₹25 each. Its costs are ₹310. What is its profit (in ₹)?
19. 19.A small business sells 42 handmade cards at ₹25 each. What is its revenue (in ₹)?
20. 20.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
21. 21.A small business sells 37 jute bags at ₹25 each. What is its revenue (in ₹)?
22. 22.A small business sells 11 clay diyas at ₹25 each. Its costs are ₹30. What is its profit (in ₹)?
23. 23.True or false: “run by directors” is true of a sole trader. (a) False (b) True
24. 24.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
25. 25.A small business selling paper bookmarks had a revenue of ₹210 and a profit of ₹200. What were its costs (in ₹)?
26. 26.Which of these is true of a sole trader? (a) run by directors (b) owner keeps all profit (c) owners’ risk is limited (d) owned by shareholders
27. 27.True or false: “one owner runs it” is true of a sole trader. (a) True (b) False
28. 28.A small business sells 28 clay diyas at ₹45 each. What is its revenue (in ₹)?
29. 29.A small business sells 54 cupcakes at ₹50 each. What is its revenue (in ₹)?
30. 30.Which of these is true of a sole trader? (a) owners’ risk is limited (b) one owner runs it (c) a separate legal body (d) run by directors
31. 31.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
32. 32.A small business sells 53 painted pebbles at ₹25 each. What is its revenue (in ₹)?
33. 33.True or false: “owner keeps all profit” is true of a sole trader. (a) False (b) True
34. 34.A small business sells 40 potted plants at ₹40 each. Its costs are ₹130. What is its profit (in ₹)?
35. 35.🏢 Sole trader or company: simplest to start? (a) a company (b) a sole trader
36. 36.A small business sells 55 paper bookmarks at ₹40 each. What is its revenue (in ₹)?
37. 37.📊 Revenue or profit: goes up if costs fall? (a) profit (b) revenue
38. 38.A small business sells 57 jute bags at ₹15 each. Its costs are ₹620. What is its profit (in ₹)?
39. 39.Which of these is true of a sole trader? (a) owned by shareholders (b) simplest to start (c) owners’ risk is limited (d) a separate legal body
40. 40.A small business sells 37 glasses of chai at ₹30 each. What is its revenue (in ₹)?

Free entrepreneurship lessons, practice and worksheets at talentjr.in/entrepreneurship-for-kids