Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 748 · 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) revenue (b) profit
2. 2.🎂 Can a 14-year-old run a business on their own? (a) only with adult help (b) yes, no one needed (c) never ever (d) only at night
3. 3.A small business sells 37 cupcakes at ₹40 each. What is its revenue (in ₹)?
4. 4.A small business selling glasses of chai had a revenue of ₹80 and a profit of ₹20. What were its costs (in ₹)?
5. 5.Which of these is true of a sole trader? (a) owned by shareholders (b) owners’ risk is limited (c) run by directors (d) simplest to start
6. 6.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
7. 7.A small business selling bags of popcorn had a revenue of ₹1320 and a profit of ₹540. What were its costs (in ₹)?
8. 8.A small business sells 43 friendship bands at ₹45 each. What is its revenue (in ₹)?
9. 9.True or false: “a separate legal body” is true of a sole trader. (a) False (b) True
10. 10.A small business sells 32 friendship bands at ₹10 each. What is its revenue (in ₹)?
11. 11.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
12. 12.A small business sells 12 clay diyas at ₹35 each. Its costs are ₹100. What is its profit (in ₹)?
13. 13.True or false: “one owner runs it” is true of a sole trader. (a) False (b) True
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) owner owes the debts (b) run by directors (c) a separate legal body (d) owned by shareholders
16. 16.🏢 A company is owned by… (a) its customers (b) its shareholders (c) the government always (d) its suppliers
17. 17.Which of these is true of a company? (a) owned by shareholders (b) simplest to start (c) owner keeps all profit (d) owner owes the debts
18. 18.Which of these is true of a sole trader? (a) owned by shareholders (b) run by directors (c) one owner runs it (d) owners’ risk is limited
19. 19.True or false: “owned by shareholders” is true of a company. (a) True (b) False
20. 20.🏢 Sole trader or company: simplest to start? (a) a company (b) a sole trader
21. 21.📜 Who should explain tax or legal rules for a business? (a) an adult or an expert (b) a classmate (c) nobody (d) a random video
22. 22.Which of these is true of a company? (a) simplest to start (b) one owner runs it (c) owner keeps all profit (d) a separate legal body
23. 23.A small business sells 57 fruit cups at ₹45 each. What is its revenue (in ₹)?
24. 24.👤 A sole trader is… (a) a big company (b) a bank (c) a one-owner business (d) a school club
25. 25.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
26. 26.A small business sells 26 painted pebbles at ₹15 each. Its costs are ₹270. What is its profit (in ₹)?
27. 27.A small business selling friendship bands had a revenue of ₹1485 and a profit of ₹1365. What were its costs (in ₹)?
28. 28.Which of these is true of a company? (a) one owner runs it (b) owner keeps all profit (c) simplest to start (d) owners’ risk is limited
29. 29.A small business sells 37 cupcakes at ₹10 each. What is its revenue (in ₹)?
30. 30.A small business sells 38 glasses of chai at ₹20 each. Its costs are ₹360. What is its profit (in ₹)?
31. 31.🏢 Sole trader or company: owners’ risk is limited? (a) a sole trader (b) a company
32. 32.🏢 Sole trader or company: run by directors? (a) a company (b) a sole trader
33. 33.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
34. 34.A small business selling fruit cups had a revenue of ₹875 and a profit of ₹115. What were its costs (in ₹)?
35. 35.True or false: “simplest to start” is true of a company. (a) True (b) False
36. 36.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
37. 37.📊 Revenue or profit: money in before costs? (a) revenue (b) profit
38. 38.📊 Revenue minus costs equals… (a) price (b) revenue (c) stock (d) profit
39. 39.A small business selling cups of lemonade had a revenue of ₹630 and a profit of ₹590. What were its costs (in ₹)?
40. 40.True or false: “owners’ risk is limited” is true of a company. (a) False (b) True

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