Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 732 · 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: left after all costs? (a) revenue (b) profit
2. 2.🏢 Sole trader or company: owners’ risk is limited? (a) a company (b) a sole trader
3. 3.True or false: “owners’ risk is limited” is true of a sole trader. (a) True (b) False
4. 4.A small business selling fruit cups had a revenue of ₹1520 and a profit of ₹210. What were its costs (in ₹)?
5. 5.True or false: “one owner runs it” is true of a company. (a) True (b) False
6. 6.🏢 Sole trader or company: run by directors? (a) a company (b) a sole trader
7. 7.Which of these is true of a company? (a) one owner runs it (b) owner keeps all profit (c) owned by shareholders (d) simplest to start
8. 8.🏢 Sole trader or company: owner owes the debts? (a) a sole trader (b) a company
9. 9.🎂 Can a 14-year-old run a business on their own? (a) only at night (b) never ever (c) yes, no one needed (d) only with adult help
10. 10.A small business sells 44 paper bookmarks at ₹15 each. What is its revenue (in ₹)?
11. 11.True or false: “run by directors” is true of a company. (a) True (b) False
12. 12.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
13. 13.A small business sells 34 painted pebbles at ₹40 each. What is its revenue (in ₹)?
14. 14.A small business sells 60 painted pebbles at ₹20 each. What is its revenue (in ₹)?
15. 15.Which of these is true of a sole trader? (a) run by directors (b) owner owes the debts (c) a separate legal body (d) owners’ risk is limited
16. 16.Which of these is true of a sole trader? (a) a separate legal body (b) owners’ risk is limited (c) simplest to start (d) owned by shareholders
17. 17.A small business sells 21 glasses of chai at ₹40 each. Its costs are ₹810. What is its profit (in ₹)?
18. 18.True or false: “owned by shareholders” is true of a sole trader. (a) True (b) False
19. 19.Which of these is true of a sole trader? (a) owners’ risk is limited (b) a separate legal body (c) owner keeps all profit (d) run by directors
20. 20.Which of these is true of a company? (a) one owner runs it (b) owner keeps all profit (c) owners’ risk is limited (d) owner owes the debts
21. 21.A small business sells 45 handmade cards at ₹45 each. Its costs are ₹1510. What is its profit (in ₹)?
22. 22.True or false: “run by directors” is true of a sole trader. (a) True (b) False
23. 23.A small business sells 50 glasses of chai at ₹20 each. What is its revenue (in ₹)?
24. 24.True or false: “simplest to start” is true of a company. (a) False (b) True
25. 25.📜 Who should explain tax or legal rules for a business? (a) nobody (b) a classmate (c) an adult or an expert (d) a random video
26. 26.A small business sells 41 jute bags at ₹35 each. Its costs are ₹280. What is its profit (in ₹)?
27. 27.A small business sells 28 clay diyas at ₹35 each. Its costs are ₹580. What is its profit (in ₹)?
28. 28.🏢 Sole trader or company: owner keeps all profit? (a) a sole trader (b) a company
29. 29.📊 Revenue minus costs equals… (a) profit (b) price (c) revenue (d) stock
30. 30.A small business sells 34 cups of lemonade at ₹5 each. Its costs are ₹80. What is its profit (in ₹)?
31. 31.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
32. 32.True or false: “owner owes the debts” is true of a sole trader. (a) False (b) True
33. 33.A small business sells 12 painted pebbles at ₹10 each. What is its revenue (in ₹)?
34. 34.A small business sells 41 bags of popcorn at ₹5 each. What is its revenue (in ₹)?
35. 35.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
36. 36.A small business sells 28 painted pebbles at ₹15 each. Its costs are ₹80. What is its profit (in ₹)?
37. 37.A small business sells 35 bags of popcorn at ₹40 each. Its costs are ₹1250. What is its profit (in ₹)?
38. 38.A small business sells 50 jute bags at ₹35 each. Its costs are ₹120. What is its profit (in ₹)?
39. 39.True or false: “simplest to start” is true of a sole trader. (a) True (b) False
40. 40.📊 Revenue or profit: price × number sold? (a) profit (b) revenue

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