Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 731 · 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: revenue minus costs? (a) profit (b) revenue
2. 2.📊 Revenue minus costs equals… (a) profit (b) price (c) stock (d) revenue
3. 3.🏢 Sole trader or company: owned by shareholders? (a) a company (b) a sole trader
4. 4.A small business sells 40 glasses of chai at ₹5 each. What is its revenue (in ₹)?
5. 5.👤 A sole trader is… (a) a bank (b) a school club (c) a one-owner business (d) a big company
6. 6.A small business sells 36 bags of popcorn at ₹35 each. What is its revenue (in ₹)?
7. 7.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
8. 8.🏢 Sole trader or company: simplest to start? (a) a sole trader (b) a company
9. 9.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
10. 10.📜 Who should explain tax or legal rules for a business? (a) an adult or an expert (b) nobody (c) a random video (d) a classmate
11. 11.Which of these is true of a company? (a) simplest to start (b) one owner runs it (c) run by directors (d) owner owes the debts
12. 12.📊 Revenue or profit: money in before costs? (a) revenue (b) profit
13. 13.Which of these is true of a sole trader? (a) run by directors (b) a separate legal body (c) owners’ risk is limited (d) one owner runs it
14. 14.Which of these is true of a company? (a) one owner runs it (b) owner owes the debts (c) a separate legal body (d) owner keeps all profit
15. 15.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
16. 16.🏢 Sole trader or company: a separate legal body? (a) a sole trader (b) a company
17. 17.A small business sells 40 potted plants at ₹25 each. Its costs are ₹690. What is its profit (in ₹)?
18. 18.True or false: “owned by shareholders” is true of a sole trader. (a) False (b) True
19. 19.True or false: “one owner runs it” is true of a company. (a) True (b) False
20. 20.A small business sells 28 cupcakes at ₹10 each. What is its revenue (in ₹)?
21. 21.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
22. 22.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
23. 23.True or false: “owners’ risk is limited” is true of a company. (a) False (b) True
24. 24.A small business selling cups of lemonade had a revenue of ₹1500 and a profit of ₹890. What were its costs (in ₹)?
25. 25.True or false: “simplest to start” is true of a sole trader. (a) True (b) False
26. 26.True or false: “owner owes the debts” is true of a sole trader. (a) False (b) True
27. 27.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
28. 28.A small business selling painted pebbles had a revenue of ₹1680 and a profit of ₹340. What were its costs (in ₹)?
29. 29.A small business sells 20 clay diyas at ₹35 each. What is its revenue (in ₹)?
30. 30.🎂 Can a 14-year-old run a business on their own? (a) only at night (b) only with adult help (c) never ever (d) yes, no one needed
31. 31.A small business sells 48 cups of lemonade at ₹45 each. Its costs are ₹30. What is its profit (in ₹)?
32. 32.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
33. 33.A small business sells 38 glasses of chai at ₹40 each. What is its revenue (in ₹)?
34. 34.A small business sells 43 cupcakes at ₹45 each. What is its revenue (in ₹)?
35. 35.Which of these is true of a company? (a) owners’ risk is limited (b) owner owes the debts (c) simplest to start (d) owner keeps all profit
36. 36.True or false: “owned by shareholders” is true of a company. (a) False (b) True
37. 37.A small business selling jute bags had a revenue of ₹1020 and a profit of ₹500. What were its costs (in ₹)?
38. 38.📊 Revenue or profit: left after all costs? (a) profit (b) revenue
39. 39.A small business sells 31 fruit cups at ₹5 each. What is its revenue (in ₹)?
40. 40.A small business sells 42 bags of popcorn at ₹30 each. What is its revenue (in ₹)?

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