Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 802 · 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 sole trader (b) a company
2. 2.A small business sells 32 bags of popcorn at ₹15 each. Its costs are ₹220. What is its profit (in ₹)?
3. 3.🎂 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
4. 4.True or false: “owned by shareholders” is true of a company. (a) False (b) True
5. 5.🏢 Sole trader or company: a separate legal body? (a) a sole trader (b) a company
6. 6.📊 Revenue minus costs equals… (a) revenue (b) stock (c) profit (d) price
7. 7.True or false: “owner keeps all profit” is true of a sole trader. (a) True (b) False
8. 8.A small business selling painted pebbles had a revenue of ₹1320 and a profit of ₹340. What were its costs (in ₹)?
9. 9.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
10. 10.Which of these is true of a company? (a) simplest to start (b) one owner runs it (c) owner keeps all profit (d) owners’ risk is limited
11. 11.Which of these is true of a sole trader? (a) owners’ risk is limited (b) one owner runs it (c) owned by shareholders (d) run by directors
12. 12.A small business sells 37 potted plants at ₹40 each. What is its revenue (in ₹)?
13. 13.A small business sells 53 paper bookmarks at ₹25 each. What is its revenue (in ₹)?
14. 14.Which of these is true of a sole trader? (a) owned by shareholders (b) simplest to start (c) run by directors (d) a separate legal body
15. 15.Which of these is true of a company? (a) owner keeps all profit (b) simplest to start (c) owned by shareholders (d) owner owes the debts
16. 16.A small business sells 50 cupcakes at ₹15 each. What is its revenue (in ₹)?
17. 17.A small business selling handmade cards had a revenue of ₹750 and a profit of ₹690. What were its costs (in ₹)?
18. 18.A small business sells 12 cups of lemonade at ₹5 each. What is its revenue (in ₹)?
19. 19.A small business sells 45 cupcakes at ₹25 each. Its costs are ₹1000. What is its profit (in ₹)?
20. 20.📜 Who should explain tax or legal rules for a business? (a) nobody (b) a random video (c) an adult or an expert (d) a classmate
21. 21.📊 Revenue or profit: goes up if costs fall? (a) profit (b) revenue
22. 22.True or false: “run by directors” is true of a company. (a) False (b) True
23. 23.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
24. 24.Which of these is true of a company? (a) simplest to start (b) run by directors (c) owner keeps all profit (d) one owner runs it
25. 25.📊 Revenue or profit: money in before costs? (a) revenue (b) profit
26. 26.A small business sells 51 cupcakes at ₹30 each. What is its revenue (in ₹)?
27. 27.👤 A sole trader is… (a) a school club (b) a one-owner business (c) a big company (d) a bank
28. 28.A small business selling bags of popcorn had a revenue of ₹1400 and a profit of ₹590. What were its costs (in ₹)?
29. 29.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
30. 30.A small business sells 10 fruit cups at ₹15 each. Its costs are ₹120. What is its profit (in ₹)?
31. 31.🏢 Sole trader or company: run by directors? (a) a company (b) a sole trader
32. 32.🏢 Sole trader or company: owned by shareholders? (a) a company (b) a sole trader
33. 33.Which of these is true of a sole trader? (a) owner owes the debts (b) owned by shareholders (c) owners’ risk is limited (d) a separate legal body
34. 34.A small business selling handmade cards had a revenue of ₹1500 and a profit of ₹900. What were its costs (in ₹)?
35. 35.A small business selling glasses of chai had a revenue of ₹500 and a profit of ₹200. What were its costs (in ₹)?
36. 36.A small business selling friendship bands had a revenue of ₹440 and a profit of ₹240. What were its costs (in ₹)?
37. 37.A small business selling potted plants had a revenue of ₹1080 and a profit of ₹390. What were its costs (in ₹)?
38. 38.A small business sells 24 cupcakes at ₹45 each. What is its revenue (in ₹)?
39. 39.A small business sells 40 fruit cups at ₹50 each. Its costs are ₹1640. What is its profit (in ₹)?
40. 40.True or false: “a separate legal body” is true of a sole trader. (a) False (b) True

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