Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 792 · 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.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
2. 2.True or false: “simplest to start” is true of a sole trader. (a) True (b) False
3. 3.A small business sells 35 potted plants at ₹45 each. Its costs are ₹860. What is its profit (in ₹)?
4. 4.Which of these is true of a company? (a) owner keeps all profit (b) one owner runs it (c) owner owes the debts (d) owned by shareholders
5. 5.A small business selling cups of lemonade had a revenue of ₹595 and a profit of ₹525. What were its costs (in ₹)?
6. 6.Which of these is true of a sole trader? (a) owned by shareholders (b) one owner runs it (c) run by directors (d) owners’ risk is limited
7. 7.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
8. 8.True or false: “one owner runs it” is true of a sole trader. (a) False (b) True
9. 9.🏢 Sole trader or company: run by directors? (a) a sole trader (b) a company
10. 10.A small business selling clay diyas had a revenue of ₹265 and a profit of ₹195. What were its costs (in ₹)?
11. 11.A small business selling fruit cups had a revenue of ₹440 and a profit of ₹370. What were its costs (in ₹)?
12. 12.Which of these is true of a company? (a) owners’ risk is limited (b) owner owes the debts (c) owner keeps all profit (d) simplest to start
13. 13.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
14. 14.📊 Revenue minus costs equals… (a) revenue (b) price (c) profit (d) stock
15. 15.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
16. 16.True or false: “owned by shareholders” is true of a company. (a) False (b) True
17. 17.A small business sells 59 cupcakes at ₹25 each. Its costs are ₹1150. What is its profit (in ₹)?
18. 18.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
19. 19.True or false: “owned by shareholders” is true of a sole trader. (a) True (b) False
20. 20.A small business selling cups of lemonade had a revenue of ₹190 and a profit of ₹130. What were its costs (in ₹)?
21. 21.A small business selling fruit cups had a revenue of ₹1350 and a profit of ₹260. What were its costs (in ₹)?
22. 22.📊 Revenue or profit: revenue minus costs? (a) profit (b) revenue
23. 23.📜 Who should explain tax or legal rules for a business? (a) an adult or an expert (b) a random video (c) a classmate (d) nobody
24. 24.A small business sells 58 fruit cups at ₹15 each. What is its revenue (in ₹)?
25. 25.👤 A sole trader is… (a) a one-owner business (b) a bank (c) a school club (d) a big company
26. 26.A small business selling handmade cards had a revenue of ₹1850 and a profit of ₹310. What were its costs (in ₹)?
27. 27.True or false: “run by directors” is true of a sole trader. (a) False (b) True
28. 28.A small business sells 29 cupcakes at ₹40 each. Its costs are ₹750. What is its profit (in ₹)?
29. 29.A small business sells 51 clay diyas at ₹50 each. What is its revenue (in ₹)?
30. 30.True or false: “owner keeps all profit” is true of a sole trader. (a) True (b) False
31. 31.🏢 Sole trader or company: owners’ risk is limited? (a) a company (b) a sole trader
32. 32.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
33. 33.🏢 Sole trader or company: simplest to start? (a) a company (b) a sole trader
34. 34.A small business sells 19 cupcakes at ₹20 each. What is its revenue (in ₹)?
35. 35.A small business sells 35 bags of popcorn at ₹25 each. Its costs are ₹400. What is its profit (in ₹)?
36. 36.A small business sells 57 glasses of chai at ₹10 each. Its costs are ₹340. What is its profit (in ₹)?
37. 37.A small business sells 20 potted plants at ₹50 each. What is its revenue (in ₹)?
38. 38.A small business sells 15 fruit cups at ₹10 each. Its costs are ₹110. What is its profit (in ₹)?
39. 39.True or false: “owners’ risk is limited” is true of a sole trader. (a) True (b) False
40. 40.A small business sells 52 cups of lemonade at ₹25 each. Its costs are ₹920. What is its profit (in ₹)?

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