Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 734 · 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 60 clay diyas at ₹45 each. Its costs are ₹2650. What is its profit (in ₹)?
2. 2.📊 Revenue minus costs equals… (a) profit (b) price (c) stock (d) revenue
3. 3.👤 A sole trader is… (a) a bank (b) a one-owner business (c) a big company (d) a school club
4. 4.A small business selling handmade cards had a revenue of ₹455 and a profit of ₹285. What were its costs (in ₹)?
5. 5.A small business selling friendship bands had a revenue of ₹385 and a profit of ₹375. What were its costs (in ₹)?
6. 6.A small business selling handmade cards had a revenue of ₹630 and a profit of ₹220. What were its costs (in ₹)?
7. 7.A small business selling painted pebbles had a revenue of ₹1845 and a profit of ₹245. What were its costs (in ₹)?
8. 8.📜 Who should explain tax or legal rules for a business? (a) a classmate (b) an adult or an expert (c) nobody (d) a random video
9. 9.Which of these is true of a company? (a) owner owes the debts (b) owner keeps all profit (c) a separate legal body (d) simplest to start
10. 10.True or false: “one owner runs it” is true of a company. (a) True (b) False
11. 11.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
12. 12.A small business sells 25 handmade cards at ₹20 each. What is its revenue (in ₹)?
13. 13.A small business sells 59 handmade cards at ₹45 each. Its costs are ₹1270. What is its profit (in ₹)?
14. 14.🎂 Can a 14-year-old run a business on their own? (a) yes, no one needed (b) only at night (c) only with adult help (d) never ever
15. 15.A small business selling jute bags had a revenue of ₹2360 and a profit of ₹1800. What were its costs (in ₹)?
16. 16.A small business sells 53 cupcakes at ₹40 each. Its costs are ₹590. What is its profit (in ₹)?
17. 17.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
18. 18.Which of these is true of a sole trader? (a) run by directors (b) owners’ risk is limited (c) owned by shareholders (d) owner owes the debts
19. 19.🏢 Sole trader or company: owner keeps all profit? (a) a sole trader (b) a company
20. 20.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
21. 21.A small business sells 21 cups of lemonade at ₹40 each. What is its revenue (in ₹)?
22. 22.🏢 Sole trader or company: owner owes the debts? (a) a sole trader (b) a company
23. 23.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
24. 24.True or false: “a separate legal body” is true of a company. (a) False (b) True
25. 25.A small business selling clay diyas had a revenue of ₹875 and a profit of ₹315. What were its costs (in ₹)?
26. 26.A small business sells 47 painted pebbles at ₹40 each. Its costs are ₹620. What is its profit (in ₹)?
27. 27.A small business selling handmade cards had a revenue of ₹440 and a profit of ₹180. What were its costs (in ₹)?
28. 28.True or false: “owned by shareholders” is true of a company. (a) True (b) False
29. 29.A small business selling painted pebbles had a revenue of ₹1350 and a profit of ₹890. What were its costs (in ₹)?
30. 30.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
31. 31.Which of these is true of a company? (a) owner owes the debts (b) owner keeps all profit (c) simplest to start (d) owners’ risk is limited
32. 32.A small business sells 48 cups of lemonade at ₹15 each. What is its revenue (in ₹)?
33. 33.🏢 Sole trader or company: owners’ risk is limited? (a) a sole trader (b) a company
34. 34.A small business sells 32 handmade cards at ₹20 each. What is its revenue (in ₹)?
35. 35.True or false: “owner keeps all profit” is true of a company. (a) True (b) False
36. 36.A small business sells 43 bags of popcorn at ₹10 each. Its costs are ₹140. What is its profit (in ₹)?
37. 37.A small business sells 59 handmade cards at ₹35 each. Its costs are ₹1720. What is its profit (in ₹)?
38. 38.A small business selling glasses of chai had a revenue of ₹1575 and a profit of ₹865. What were its costs (in ₹)?
39. 39.True or false: “owner keeps all profit” is true of a sole trader. (a) False (b) True
40. 40.A small business selling clay diyas had a revenue of ₹1400 and a profit of ₹920. What were its costs (in ₹)?

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