Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 779 · 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 43 friendship bands at ₹35 each. Its costs are ₹830. What is its profit (in ₹)?
2. 2.A small business sells 42 fruit cups at ₹15 each. What is its revenue (in ₹)?
3. 3.📊 Revenue or profit: goes up if costs fall? (a) profit (b) revenue
4. 4.A small business sells 59 cups of lemonade at ₹15 each. Its costs are ₹460. What is its profit (in ₹)?
5. 5.A small business sells 37 cups of lemonade at ₹10 each. Its costs are ₹290. What is its profit (in ₹)?
6. 6.📊 Revenue minus costs equals… (a) revenue (b) stock (c) price (d) profit
7. 7.True or false: “simplest to start” is true of a sole trader. (a) True (b) False
8. 8.🏢 Sole trader or company: run by directors? (a) a company (b) a sole trader
9. 9.📜 Who should explain tax or legal rules for a business? (a) a classmate (b) a random video (c) nobody (d) an adult or an expert
10. 10.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
11. 11.📊 Revenue or profit: revenue minus costs? (a) profit (b) revenue
12. 12.A small business selling clay diyas had a revenue of ₹1170 and a profit of ₹970. What were its costs (in ₹)?
13. 13.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
14. 14.A small business sells 56 potted plants at ₹15 each. What is its revenue (in ₹)?
15. 15.🏢 A company is owned by… (a) the government always (b) its suppliers (c) its shareholders (d) its customers
16. 16.True or false: “a separate legal body” is true of a company. (a) False (b) True
17. 17.A small business sells 56 cups of lemonade at ₹5 each. Its costs are ₹220. What is its profit (in ₹)?
18. 18.Which of these is true of a sole trader? (a) owned by shareholders (b) run by directors (c) a separate legal body (d) one owner runs it
19. 19.A small business selling potted plants had a revenue of ₹320 and a profit of ₹280. What were its costs (in ₹)?
20. 20.Which of these is true of a sole trader? (a) a separate legal body (b) owner keeps all profit (c) run by directors (d) owned by shareholders
21. 21.📊 Revenue or profit: price × number sold? (a) revenue (b) profit
22. 22.A small business sells 30 glasses of chai at ₹25 each. Its costs are ₹470. What is its profit (in ₹)?
23. 23.A small business selling fruit cups had a revenue of ₹2565 and a profit of ₹2055. What were its costs (in ₹)?
24. 24.A small business selling bags of popcorn had a revenue of ₹1020 and a profit of ₹180. What were its costs (in ₹)?
25. 25.True or false: “owner keeps all profit” is true of a company. (a) False (b) True
26. 26.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
27. 27.A small business sells 35 glasses of chai at ₹50 each. What is its revenue (in ₹)?
28. 28.True or false: “one owner runs it” is true of a company. (a) True (b) False
29. 29.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
30. 30.A small business selling potted plants had a revenue of ₹920 and a profit of ₹520. What were its costs (in ₹)?
31. 31.Which of these is true of a company? (a) a separate legal body (b) owner owes the debts (c) one owner runs it (d) simplest to start
32. 32.Which of these is true of a company? (a) owner keeps all profit (b) one owner runs it (c) owners’ risk is limited (d) simplest to start
33. 33.Which of these is true of a company? (a) run by directors (b) owner keeps all profit (c) one owner runs it (d) owner owes the debts
34. 34.A small business sells 26 painted pebbles at ₹15 each. What is its revenue (in ₹)?
35. 35.A small business sells 13 glasses of chai at ₹40 each. Its costs are ₹10. What is its profit (in ₹)?
36. 36.A small business sells 15 cups of lemonade at ₹50 each. What is its revenue (in ₹)?
37. 37.🏢 Sole trader or company: simplest to start? (a) a sole trader (b) a company
38. 38.A small business selling cupcakes had a revenue of ₹1035 and a profit of ₹205. What were its costs (in ₹)?
39. 39.A small business selling paper bookmarks had a revenue of ₹440 and a profit of ₹180. What were its costs (in ₹)?
40. 40.True or false: “run by directors” is true of a sole trader. (a) False (b) True

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