Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 717 · 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 26 cups of lemonade at ₹35 each. What is its revenue (in ₹)?
2. 2.A small business sells 14 bags of popcorn at ₹40 each. Its costs are ₹170. What is its profit (in ₹)?
3. 3.Which of these is true of a company? (a) one owner runs it (b) a separate legal body (c) simplest to start (d) owner keeps all profit
4. 4.True or false: “owner keeps all profit” is true of a sole trader. (a) True (b) False
5. 5.A small business selling paper bookmarks had a revenue of ₹95 and a profit of ₹25. What were its costs (in ₹)?
6. 6.A small business sells 30 cups of lemonade at ₹35 each. Its costs are ₹570. What is its profit (in ₹)?
7. 7.A small business selling painted pebbles had a revenue of ₹500 and a profit of ₹430. What were its costs (in ₹)?
8. 8.📜 Who should explain tax or legal rules for a business? (a) a random video (b) an adult or an expert (c) nobody (d) a classmate
9. 9.A small business sells 38 cupcakes at ₹50 each. What is its revenue (in ₹)?
10. 10.🏢 A company is owned by… (a) its suppliers (b) its shareholders (c) its customers (d) the government always
11. 11.True or false: “owner owes the debts” is true of a company. (a) False (b) True
12. 12.📊 Revenue or profit: money in before costs? (a) revenue (b) profit
13. 13.👤 A sole trader is… (a) a big company (b) a bank (c) a one-owner business (d) a school club
14. 14.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
15. 15.Which of these is true of a sole trader? (a) run by directors (b) a separate legal body (c) owner keeps all profit (d) owners’ risk is limited
16. 16.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
17. 17.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
18. 18.🏢 Sole trader or company: a separate legal body? (a) a sole trader (b) a company
19. 19.A small business selling glasses of chai had a revenue of ₹720 and a profit of ₹360. What were its costs (in ₹)?
20. 20.True or false: “owned by shareholders” is true of a company. (a) False (b) True
21. 21.A small business sells 43 fruit cups at ₹25 each. Its costs are ₹110. What is its profit (in ₹)?
22. 22.Which of these is true of a company? (a) simplest to start (b) one owner runs it (c) owners’ risk is limited (d) owner keeps all profit
23. 23.True or false: “owners’ risk is limited” is true of a sole trader. (a) True (b) False
24. 24.A small business sells 51 bags of popcorn at ₹40 each. Its costs are ₹650. What is its profit (in ₹)?
25. 25.A small business sells 25 clay diyas at ₹35 each. Its costs are ₹280. What is its profit (in ₹)?
26. 26.📊 Revenue minus costs equals… (a) revenue (b) profit (c) price (d) stock
27. 27.A small business sells 34 handmade cards at ₹50 each. What is its revenue (in ₹)?
28. 28.A small business sells 51 clay diyas at ₹25 each. Its costs are ₹1130. What is its profit (in ₹)?
29. 29.A small business sells 56 painted pebbles at ₹50 each. Its costs are ₹520. What is its profit (in ₹)?
30. 30.Which of these is true of a sole trader? (a) owned by shareholders (b) simplest to start (c) a separate legal body (d) owners’ risk is limited
31. 31.A small business selling potted plants had a revenue of ₹1050 and a profit of ₹690. What were its costs (in ₹)?
32. 32.Which of these is true of a sole trader? (a) owned by shareholders (b) run by directors (c) a separate legal body (d) owner owes the debts
33. 33.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
34. 34.A small business sells 38 handmade cards at ₹40 each. What is its revenue (in ₹)?
35. 35.A small business sells 15 handmade cards at ₹25 each. What is its revenue (in ₹)?
36. 36.True or false: “owner owes the debts” is true of a sole trader. (a) False (b) True
37. 37.A small business sells 19 paper bookmarks at ₹15 each. What is its revenue (in ₹)?
38. 38.A small business sells 14 jute bags at ₹35 each. What is its revenue (in ₹)?
39. 39.A small business selling painted pebbles had a revenue of ₹765 and a profit of ₹155. What were its costs (in ₹)?
40. 40.A small business sells 19 glasses of chai at ₹15 each. What is its revenue (in ₹)?

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