Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 749 · 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.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
3. 3.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
4. 4.A small business selling bags of popcorn had a revenue of ₹720 and a profit of ₹160. What were its costs (in ₹)?
5. 5.🎂 Can a 14-year-old run a business on their own? (a) only with adult help (b) only at night (c) yes, no one needed (d) never ever
6. 6.Which of these is true of a sole trader? (a) run by directors (b) a separate legal body (c) owner keeps all profit (d) owned by shareholders
7. 7.📊 Revenue or profit: money in before costs? (a) revenue (b) profit
8. 8.A small business selling clay diyas had a revenue of ₹840 and a profit of ₹530. What were its costs (in ₹)?
9. 9.A small business sells 58 potted plants at ₹15 each. What is its revenue (in ₹)?
10. 10.Which of these is true of a sole trader? (a) owned by shareholders (b) one owner runs it (c) a separate legal body (d) run by directors
11. 11.📊 Revenue or profit: price × number sold? (a) revenue (b) profit
12. 12.True or false: “owners’ risk is limited” is true of a company. (a) True (b) False
13. 13.A small business selling paper bookmarks had a revenue of ₹1450 and a profit of ₹730. What were its costs (in ₹)?
14. 14.🏢 A company is owned by… (a) the government always (b) its suppliers (c) its customers (d) its shareholders
15. 15.True or false: “owner owes the debts” is true of a sole trader. (a) False (b) True
16. 16.📜 Who should explain tax or legal rules for a business? (a) a random video (b) an adult or an expert (c) nobody (d) a classmate
17. 17.A small business sells 18 clay diyas at ₹50 each. Its costs are ₹820. What is its profit (in ₹)?
18. 18.Which of these is true of a company? (a) simplest to start (b) owner owes the debts (c) owners’ risk is limited (d) owner keeps all profit
19. 19.📊 Revenue minus costs equals… (a) price (b) profit (c) stock (d) revenue
20. 20.A small business sells 18 paper bookmarks at ₹35 each. What is its revenue (in ₹)?
21. 21.True or false: “owner keeps all profit” is true of a company. (a) True (b) False
22. 22.True or false: “run by directors” is true of a company. (a) False (b) True
23. 23.A small business selling cupcakes had a revenue of ₹400 and a profit of ₹120. What were its costs (in ₹)?
24. 24.True or false: “simplest to start” is true of a sole trader. (a) False (b) True
25. 25.A small business selling friendship bands had a revenue of ₹1925 and a profit of ₹1355. What were its costs (in ₹)?
26. 26.Which of these is true of a company? (a) simplest to start (b) run by directors (c) owner owes the debts (d) one owner runs it
27. 27.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
28. 28.🏢 Sole trader or company: owners’ risk is limited? (a) a company (b) a sole trader
29. 29.A small business sells 35 clay diyas at ₹10 each. What is its revenue (in ₹)?
30. 30.A small business selling cupcakes had a revenue of ₹1890 and a profit of ₹1490. What were its costs (in ₹)?
31. 31.A small business sells 17 paper bookmarks at ₹5 each. Its costs are ₹30. What is its profit (in ₹)?
32. 32.True or false: “owned by shareholders” is true of a company. (a) False (b) True
33. 33.Which of these is true of a company? (a) one owner runs it (b) owner owes the debts (c) owner keeps all profit (d) owned by shareholders
34. 34.A small business sells 37 friendship bands at ₹10 each. Its costs are ₹110. What is its profit (in ₹)?
35. 35.A small business selling handmade cards had a revenue of ₹760 and a profit of ₹80. What were its costs (in ₹)?
36. 36.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
37. 37.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
38. 38.A small business selling fruit cups had a revenue of ₹145 and a profit of ₹95. What were its costs (in ₹)?
39. 39.True or false: “run by directors” is true of a sole trader. (a) False (b) True
40. 40.A small business sells 29 cups of lemonade at ₹15 each. What is its revenue (in ₹)?

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