Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 752 · 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.🏢 Sole trader or company: a separate legal body? (a) a sole trader (b) a company
3. 3.A small business sells 25 clay diyas at ₹45 each. What is its revenue (in ₹)?
4. 4.🏢 Sole trader or company: run by directors? (a) a company (b) a sole trader
5. 5.📊 Revenue minus costs equals… (a) price (b) stock (c) profit (d) revenue
6. 6.A small business sells 47 glasses of chai at ₹40 each. What is its revenue (in ₹)?
7. 7.📊 Revenue or profit: money in before costs? (a) profit (b) revenue
8. 8.Which of these is true of a company? (a) owner owes the debts (b) simplest to start (c) one owner runs it (d) a separate legal body
9. 9.📊 Revenue or profit: left after all costs? (a) profit (b) revenue
10. 10.A small business sells 14 cups of lemonade at ₹5 each. What is its revenue (in ₹)?
11. 11.A small business sells 55 bags of popcorn at ₹45 each. What is its revenue (in ₹)?
12. 12.🎂 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
13. 13.A small business sells 21 glasses of chai at ₹20 each. Its costs are ₹50. What is its profit (in ₹)?
14. 14.True or false: “owner keeps all profit” is true of a sole trader. (a) True (b) False
15. 15.A small business selling handmade cards had a revenue of ₹440 and a profit of ₹420. What were its costs (in ₹)?
16. 16.Which of these is true of a sole trader? (a) owners’ risk is limited (b) one owner runs it (c) run by directors (d) a separate legal body
17. 17.Which of these is true of a company? (a) owner keeps all profit (b) one owner runs it (c) owners’ risk is limited (d) owner owes the debts
18. 18.🏢 A company is owned by… (a) its suppliers (b) its shareholders (c) its customers (d) the government always
19. 19.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
20. 20.True or false: “owners’ risk is limited” is true of a sole trader. (a) False (b) True
21. 21.A small business sells 57 bags of popcorn at ₹50 each. Its costs are ₹1810. What is its profit (in ₹)?
22. 22.Which of these is true of a company? (a) simplest to start (b) owned by shareholders (c) one owner runs it (d) owner keeps all profit
23. 23.A small business sells 16 painted pebbles at ₹10 each. What is its revenue (in ₹)?
24. 24.👤 A sole trader is… (a) a school club (b) a one-owner business (c) a big company (d) a bank
25. 25.A small business selling fruit cups had a revenue of ₹2120 and a profit of ₹1710. What were its costs (in ₹)?
26. 26.A small business sells 34 fruit cups at ₹15 each. What is its revenue (in ₹)?
27. 27.True or false: “owner owes the debts” is true of a company. (a) False (b) True
28. 28.A small business sells 20 potted plants at ₹35 each. What is its revenue (in ₹)?
29. 29.🏢 Sole trader or company: owners’ risk is limited? (a) a company (b) a sole trader
30. 30.A small business sells 42 cups of lemonade at ₹10 each. Its costs are ₹100. What is its profit (in ₹)?
31. 31.A small business sells 33 glasses of chai at ₹40 each. Its costs are ₹310. What is its profit (in ₹)?
32. 32.Which of these is true of a sole trader? (a) owned by shareholders (b) run by directors (c) simplest to start (d) a separate legal body
33. 33.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
34. 34.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
35. 35.A small business sells 52 handmade cards at ₹30 each. What is its revenue (in ₹)?
36. 36.A small business sells 19 handmade cards at ₹40 each. What is its revenue (in ₹)?
37. 37.True or false: “owners’ risk is limited” is true of a company. (a) False (b) True
38. 38.True or false: “one owner runs it” is true of a company. (a) True (b) False
39. 39.📜 Who should explain tax or legal rules for a business? (a) a classmate (b) an adult or an expert (c) a random video (d) nobody
40. 40.A small business selling paper bookmarks had a revenue of ₹2200 and a profit of ₹240. What were its costs (in ₹)?

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