Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 72 · 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 56 jute bags at ₹15 each. What is its revenue (in ₹)?
2. 2.True or false: “simplest to start” is true of a sole trader. (a) True (b) False
3. 3.A small business sells 24 paper bookmarks at ₹10 each. What is its revenue (in ₹)?
4. 4.A small business sells 32 glasses of chai at ₹35 each. What is its revenue (in ₹)?
5. 5.Which of these is true of a company? (a) a separate legal body (b) one owner runs it (c) simplest to start (d) owner keeps all profit
6. 6.A small business sells 20 handmade cards at ₹45 each. What is its revenue (in ₹)?
7. 7.🏢 Sole trader or company: run by directors? (a) a sole trader (b) a company
8. 8.🎂 Can a 14-year-old run a business on their own? (a) yes, no one needed (b) only at night (c) never ever (d) only with adult help
9. 9.A small business sells 46 clay diyas at ₹40 each. What is its revenue (in ₹)?
10. 10.Which of these is true of a company? (a) one owner runs it (b) owner keeps all profit (c) owner owes the debts (d) run by directors
11. 11.A small business sells 17 cups of lemonade at ₹35 each. Its costs are ₹240. What is its profit (in ₹)?
12. 12.True or false: “one owner runs it” is true of a company. (a) False (b) True
13. 13.Which of these is true of a sole trader? (a) a separate legal body (b) owned by shareholders (c) simplest to start (d) run by directors
14. 14.Which of these is true of a sole trader? (a) run by directors (b) owners’ risk is limited (c) a separate legal body (d) owner keeps all profit
15. 15.🏢 Sole trader or company: owners’ risk is limited? (a) a sole trader (b) a company
16. 16.A small business sells 34 cups of lemonade at ₹25 each. Its costs are ₹450. What is its profit (in ₹)?
17. 17.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
18. 18.A small business selling clay diyas had a revenue of ₹210 and a profit of ₹110. What were its costs (in ₹)?
19. 19.🏢 Sole trader or company: simplest to start? (a) a sole trader (b) a company
20. 20.A small business sells 51 friendship bands at ₹50 each. Its costs are ₹1410. What is its profit (in ₹)?
21. 21.A small business sells 47 painted pebbles at ₹35 each. Its costs are ₹1530. What is its profit (in ₹)?
22. 22.A small business sells 38 fruit cups at ₹40 each. What is its revenue (in ₹)?
23. 23.True or false: “simplest to start” is true of a company. (a) True (b) False
24. 24.A small business sells 51 jute bags at ₹15 each. What is its revenue (in ₹)?
25. 25.True or false: “run by directors” is true of a sole trader. (a) True (b) False
26. 26.📊 Revenue or profit: money in before costs? (a) profit (b) revenue
27. 27.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
28. 28.A small business selling glasses of chai had a revenue of ₹330 and a profit of ₹240. What were its costs (in ₹)?
29. 29.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
30. 30.📊 Revenue or profit: left after all costs? (a) profit (b) revenue
31. 31.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
32. 32.A small business sells 38 jute bags at ₹40 each. Its costs are ₹1290. What is its profit (in ₹)?
33. 33.True or false: “a separate legal body” is true of a sole trader. (a) True (b) False
34. 34.A small business sells 11 painted pebbles at ₹50 each. Its costs are ₹260. What is its profit (in ₹)?
35. 35.Which of these is true of a sole trader? (a) owners’ risk is limited (b) owner owes the debts (c) owned by shareholders (d) a separate legal body
36. 36.A small business selling fruit cups had a revenue of ₹570 and a profit of ₹210. What were its costs (in ₹)?
37. 37.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
38. 38.A small business sells 51 fruit cups at ₹10 each. What is its revenue (in ₹)?
39. 39.👤 A sole trader is… (a) a school club (b) a bank (c) a one-owner business (d) a big company
40. 40.A small business sells 33 glasses of chai at ₹50 each. What is its revenue (in ₹)?

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