Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 774 · 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 sole trader is… (a) a one-owner business (b) a bank (c) a school club (d) a big company
2. 2.📊 Revenue or profit: revenue minus costs? (a) profit (b) revenue
3. 3.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
4. 4.A small business sells 26 handmade cards at ₹20 each. What is its revenue (in ₹)?
5. 5.Which of these is true of a sole trader? (a) a separate legal body (b) owners’ risk is limited (c) owner keeps all profit (d) run by directors
6. 6.A small business sells 24 paper bookmarks at ₹25 each. Its costs are ₹570. What is its profit (in ₹)?
7. 7.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
8. 8.Which of these is true of a sole trader? (a) run by directors (b) a separate legal body (c) owner owes the debts (d) owned by shareholders
9. 9.True or false: “owners’ risk is limited” is true of a company. (a) True (b) False
10. 10.A small business sells 13 painted pebbles at ₹25 each. Its costs are ₹70. What is its profit (in ₹)?
11. 11.📜 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
12. 12.Which of these is true of a company? (a) owner owes the debts (b) one owner runs it (c) a separate legal body (d) owner keeps all profit
13. 13.True or false: “simplest to start” is true of a company. (a) False (b) True
14. 14.A small business sells 46 fruit cups at ₹35 each. What is its revenue (in ₹)?
15. 15.A small business sells 10 bags of popcorn at ₹15 each. What is its revenue (in ₹)?
16. 16.A small business selling bags of popcorn had a revenue of ₹945 and a profit of ₹575. What were its costs (in ₹)?
17. 17.True or false: “owned by shareholders” is true of a sole trader. (a) True (b) False
18. 18.True or false: “owners’ risk is limited” is true of a sole trader. (a) True (b) False
19. 19.🏢 Sole trader or company: run by directors? (a) a sole trader (b) a company
20. 20.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
21. 21.A small business selling painted pebbles had a revenue of ₹720 and a profit of ₹90. What were its costs (in ₹)?
22. 22.A small business selling jute bags had a revenue of ₹480 and a profit of ₹40. What were its costs (in ₹)?
23. 23.📊 Revenue minus costs equals… (a) revenue (b) stock (c) profit (d) price
24. 24.Which of these is true of a company? (a) owner owes the debts (b) owner keeps all profit (c) one owner runs it (d) owned by shareholders
25. 25.🎂 Can a 14-year-old run a business on their own? (a) yes, no one needed (b) only at night (c) never ever (d) only with adult help
26. 26.A small business sells 12 friendship bands at ₹30 each. Its costs are ₹10. What is its profit (in ₹)?
27. 27.A small business selling painted pebbles had a revenue of ₹2280 and a profit of ₹100. What were its costs (in ₹)?
28. 28.A small business selling paper bookmarks had a revenue of ₹400 and a profit of ₹350. What were its costs (in ₹)?
29. 29.A small business sells 59 cups of lemonade at ₹5 each. What is its revenue (in ₹)?
30. 30.A small business selling clay diyas had a revenue of ₹940 and a profit of ₹440. What were its costs (in ₹)?
31. 31.🏢 Sole trader or company: a separate legal body? (a) a sole trader (b) a company
32. 32.A small business selling handmade cards had a revenue of ₹520 and a profit of ₹470. What were its costs (in ₹)?
33. 33.📊 Revenue or profit: money in before costs? (a) profit (b) revenue
34. 34.A small business sells 12 glasses of chai at ₹20 each. Its costs are ₹30. What is its profit (in ₹)?
35. 35.A small business sells 30 paper bookmarks at ₹35 each. Its costs are ₹920. What is its profit (in ₹)?
36. 36.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
37. 37.🏢 Sole trader or company: owner keeps all profit? (a) a sole trader (b) a company
38. 38.A small business sells 51 fruit cups at ₹40 each. Its costs are ₹1810. What is its profit (in ₹)?
39. 39.A small business sells 21 clay diyas at ₹45 each. What is its revenue (in ₹)?
40. 40.Which of these is true of a company? (a) owner owes the debts (b) run by directors (c) one owner runs it (d) owner keeps all profit

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