Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 81 · 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 38 glasses of chai at ₹50 each. What is its revenue (in ₹)?
2. 2.Which of these is true of a sole trader? (a) owned by shareholders (b) run by directors (c) a separate legal body (d) simplest to start
3. 3.A small business selling cupcakes had a revenue of ₹190 and a profit of ₹20. What were its costs (in ₹)?
4. 4.A small business sells 27 fruit cups at ₹40 each. What is its revenue (in ₹)?
5. 5.📊 Revenue or profit: left after all costs? (a) profit (b) revenue
6. 6.📊 Revenue or profit: money in before costs? (a) revenue (b) profit
7. 7.A small business selling cups of lemonade had a revenue of ₹870 and a profit of ₹320. What were its costs (in ₹)?
8. 8.🏢 Sole trader or company: run by directors? (a) a sole trader (b) a company
9. 9.True or false: “owners’ risk is limited” is true of a company. (a) False (b) True
10. 10.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
11. 11.A small business sells 25 jute bags at ₹30 each. What is its revenue (in ₹)?
12. 12.Which of these is true of a sole trader? (a) a separate legal body (b) owners’ risk is limited (c) one owner runs it (d) run by directors
13. 13.📜 Who should explain tax or legal rules for a business? (a) nobody (b) a random video (c) a classmate (d) an adult or an expert
14. 14.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
15. 15.Which of these is true of a sole trader? (a) a separate legal body (b) owned by shareholders (c) run by directors (d) owner owes the debts
16. 16.True or false: “owned by shareholders” is true of a sole trader. (a) True (b) False
17. 17.🏢 Sole trader or company: owners’ risk is limited? (a) a sole trader (b) a company
18. 18.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
19. 19.Which of these is true of a company? (a) one owner runs it (b) run by directors (c) owner keeps all profit (d) simplest to start
20. 20.A small business sells 50 clay diyas at ₹25 each. Its costs are ₹640. What is its profit (in ₹)?
21. 21.A small business sells 46 fruit cups at ₹20 each. What is its revenue (in ₹)?
22. 22.True or false: “simplest to start” is true of a company. (a) True (b) False
23. 23.A small business selling jute bags had a revenue of ₹420 and a profit of ₹30. What were its costs (in ₹)?
24. 24.A small business sells 56 bags of popcorn at ₹35 each. What is its revenue (in ₹)?
25. 25.True or false: “one owner runs it” is true of a company. (a) False (b) True
26. 26.Which of these is true of a sole trader? (a) run by directors (b) a separate legal body (c) owned by shareholders (d) owner keeps all profit
27. 27.Which of these is true of a company? (a) owner owes the debts (b) owned by shareholders (c) simplest to start (d) owner keeps all profit
28. 28.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
29. 29.A small business sells 11 potted plants at ₹45 each. What is its revenue (in ₹)?
30. 30.🎂 Can a 14-year-old run a business on their own? (a) never ever (b) yes, no one needed (c) only with adult help (d) only at night
31. 31.A small business sells 25 friendship bands at ₹40 each. Its costs are ₹520. What is its profit (in ₹)?
32. 32.Which of these is true of a company? (a) simplest to start (b) owners’ risk is limited (c) owner keeps all profit (d) one owner runs it
33. 33.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
34. 34.A small business sells 13 potted plants at ₹50 each. What is its revenue (in ₹)?
35. 35.A small business sells 14 paper bookmarks at ₹10 each. Its costs are ₹20. What is its profit (in ₹)?
36. 36.True or false: “owner owes the debts” is true of a company. (a) False (b) True
37. 37.A small business sells 22 jute bags at ₹45 each. What is its revenue (in ₹)?
38. 38.A small business selling glasses of chai had a revenue of ₹350 and a profit of ₹280. What were its costs (in ₹)?
39. 39.A small business sells 26 paper bookmarks at ₹20 each. Its costs are ₹90. What is its profit (in ₹)?
40. 40.True or false: “run by directors” is true of a sole trader. (a) True (b) False

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