Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 790 · 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 12 friendship bands at ₹15 each. What is its revenue (in ₹)?
2. 2.Which of these is true of a company? (a) simplest to start (b) a separate legal body (c) owner keeps all profit (d) one owner runs it
3. 3.Which of these is true of a sole trader? (a) owned by shareholders (b) a separate legal body (c) owner owes the debts (d) run by directors
4. 4.📊 Revenue or profit: price × number sold? (a) revenue (b) profit
5. 5.A small business sells 35 cupcakes at ₹25 each. What is its revenue (in ₹)?
6. 6.A small business sells 58 bags of popcorn at ₹30 each. Its costs are ₹210. What is its profit (in ₹)?
7. 7.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
8. 8.Which of these is true of a sole trader? (a) run by directors (b) a separate legal body (c) owned by shareholders (d) one owner runs it
9. 9.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
10. 10.A small business selling cupcakes had a revenue of ₹2950 and a profit of ₹2400. What were its costs (in ₹)?
11. 11.A small business sells 41 cups of lemonade at ₹25 each. Its costs are ₹460. What is its profit (in ₹)?
12. 12.True or false: “owned by shareholders” is true of a sole trader. (a) False (b) True
13. 13.A small business sells 12 bags of popcorn at ₹15 each. Its costs are ₹100. What is its profit (in ₹)?
14. 14.📊 Revenue minus costs equals… (a) price (b) stock (c) revenue (d) profit
15. 15.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
16. 16.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
17. 17.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
18. 18.A small business sells 25 handmade cards at ₹15 each. What is its revenue (in ₹)?
19. 19.A small business selling handmade cards had a revenue of ₹250 and a profit of ₹210. What were its costs (in ₹)?
20. 20.A small business sells 36 bags of popcorn at ₹40 each. What is its revenue (in ₹)?
21. 21.A small business sells 16 friendship bands at ₹50 each. Its costs are ₹420. What is its profit (in ₹)?
22. 22.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
23. 23.A small business selling friendship bands had a revenue of ₹190 and a profit of ₹100. What were its costs (in ₹)?
24. 24.🏢 Sole trader or company: a separate legal body? (a) a sole trader (b) a company
25. 25.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
26. 26.📜 Who should explain tax or legal rules for a business? (a) nobody (b) a classmate (c) an adult or an expert (d) a random video
27. 27.A small business sells 31 friendship bands at ₹25 each. What is its revenue (in ₹)?
28. 28.🎂 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
29. 29.A small business sells 19 cups of lemonade at ₹40 each. What is its revenue (in ₹)?
30. 30.A small business sells 28 paper bookmarks at ₹35 each. Its costs are ₹810. What is its profit (in ₹)?
31. 31.🏢 A company is owned by… (a) its customers (b) the government always (c) its shareholders (d) its suppliers
32. 32.True or false: “one owner runs it” is true of a company. (a) True (b) False
33. 33.A small business sells 58 painted pebbles at ₹5 each. What is its revenue (in ₹)?
34. 34.A small business sells 12 bags of popcorn at ₹20 each. What is its revenue (in ₹)?
35. 35.🏢 Sole trader or company: owners’ risk is limited? (a) a company (b) a sole trader
36. 36.A small business sells 27 glasses of chai at ₹5 each. What is its revenue (in ₹)?
37. 37.True or false: “owner owes the debts” is true of a sole trader. (a) False (b) True
38. 38.Which of these is true of a company? (a) owner keeps all profit (b) run by directors (c) simplest to start (d) one owner runs it
39. 39.A small business sells 18 clay diyas at ₹5 each. What is its revenue (in ₹)?
40. 40.True or false: “owner keeps all profit” is true of a sole trader. (a) True (b) False

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