Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 787 · 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: money in before costs? (a) revenue (b) profit
2. 2.True or false: “a separate legal body” is true of a company. (a) False (b) True
3. 3.🏢 Sole trader or company: owners’ risk is limited? (a) a sole trader (b) a company
4. 4.Which of these is true of a sole trader? (a) owners’ risk is limited (b) a separate legal body (c) run by directors (d) simplest to start
5. 5.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
6. 6.📊 Revenue or profit: price × number sold? (a) revenue (b) profit
7. 7.A small business sells 17 painted pebbles at ₹40 each. What is its revenue (in ₹)?
8. 8.A small business sells 60 cupcakes at ₹50 each. Its costs are ₹840. What is its profit (in ₹)?
9. 9.A small business selling jute bags had a revenue of ₹1050 and a profit of ₹450. What were its costs (in ₹)?
10. 10.Which of these is true of a company? (a) simplest to start (b) one owner runs it (c) owner owes the debts (d) run by directors
11. 11.A small business sells 53 clay diyas at ₹10 each. Its costs are ₹270. What is its profit (in ₹)?
12. 12.🏢 Sole trader or company: run by directors? (a) a sole trader (b) a company
13. 13.📊 Revenue minus costs equals… (a) profit (b) stock (c) price (d) revenue
14. 14.🎂 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
15. 15.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
16. 16.A small business sells 41 potted plants at ₹30 each. Its costs are ₹370. What is its profit (in ₹)?
17. 17.True or false: “run by directors” is true of a company. (a) True (b) False
18. 18.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
19. 19.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
20. 20.🏢 A company is owned by… (a) its suppliers (b) the government always (c) its customers (d) its shareholders
21. 21.True or false: “owner keeps all profit” is true of a sole trader. (a) False (b) True
22. 22.Which of these is true of a sole trader? (a) run by directors (b) one owner runs it (c) owners’ risk is limited (d) a separate legal body
23. 23.Which of these is true of a sole trader? (a) a separate legal body (b) owned by shareholders (c) owner keeps all profit (d) owners’ risk is limited
24. 24.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
25. 25.📜 Who should explain tax or legal rules for a business? (a) nobody (b) an adult or an expert (c) a classmate (d) a random video
26. 26.👤 A sole trader is… (a) a one-owner business (b) a bank (c) a school club (d) a big company
27. 27.Which of these is true of a sole trader? (a) owned by shareholders (b) owners’ risk is limited (c) a separate legal body (d) owner owes the debts
28. 28.True or false: “run by directors” is true of a sole trader. (a) True (b) False
29. 29.A small business sells 37 cups of lemonade at ₹45 each. Its costs are ₹140. What is its profit (in ₹)?
30. 30.A small business sells 59 fruit cups at ₹5 each. What is its revenue (in ₹)?
31. 31.True or false: “a separate legal body” is true of a sole trader. (a) True (b) False
32. 32.A small business sells 25 friendship bands at ₹35 each. Its costs are ₹230. What is its profit (in ₹)?
33. 33.A small business selling cups of lemonade had a revenue of ₹800 and a profit of ₹310. What were its costs (in ₹)?
34. 34.A small business sells 57 cupcakes at ₹25 each. What is its revenue (in ₹)?
35. 35.A small business sells 43 handmade cards at ₹20 each. What is its revenue (in ₹)?
36. 36.A small business sells 41 clay diyas at ₹30 each. What is its revenue (in ₹)?
37. 37.🏢 Sole trader or company: simplest to start? (a) a company (b) a sole trader
38. 38.A small business sells 12 glasses of chai at ₹5 each. What is its revenue (in ₹)?
39. 39.A small business selling paper bookmarks had a revenue of ₹1180 and a profit of ₹1050. What were its costs (in ₹)?
40. 40.📊 Revenue or profit: goes up if costs fall? (a) profit (b) revenue

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