Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 83 · 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: all money from sales? (a) profit (b) revenue
2. 2.A small business sells 38 glasses of chai at ₹10 each. What is its revenue (in ₹)?
3. 3.A small business sells 44 clay diyas at ₹5 each. Its costs are ₹110. What is its profit (in ₹)?
4. 4.True or false: “a separate legal body” is true of a sole trader. (a) False (b) True
5. 5.A small business selling potted plants had a revenue of ₹475 and a profit of ₹185. What were its costs (in ₹)?
6. 6.📊 Revenue or profit: money in before costs? (a) revenue (b) profit
7. 7.📊 Revenue or profit: price × number sold? (a) revenue (b) profit
8. 8.A small business sells 45 cupcakes at ₹45 each. Its costs are ₹1260. What is its profit (in ₹)?
9. 9.Which of these is true of a sole trader? (a) a separate legal body (b) run by directors (c) owners’ risk is limited (d) simplest to start
10. 10.True or false: “run by directors” is true of a sole trader. (a) False (b) True
11. 11.📊 Revenue or profit: revenue minus costs? (a) profit (b) revenue
12. 12.Which of these is true of a company? (a) a separate legal body (b) owner owes the debts (c) owner keeps all profit (d) one owner runs it
13. 13.True or false: “owner keeps all profit” is true of a company. (a) True (b) False
14. 14.👤 A sole trader is… (a) a one-owner business (b) a big company (c) a bank (d) a school club
15. 15.Which of these is true of a company? (a) owner owes the debts (b) owned by shareholders (c) owner keeps all profit (d) one owner runs it
16. 16.📊 Revenue minus costs equals… (a) price (b) revenue (c) stock (d) profit
17. 17.True or false: “owners’ risk is limited” is true of a company. (a) False (b) True
18. 18.🏢 A company is owned by… (a) the government always (b) its shareholders (c) its customers (d) its suppliers
19. 19.🎂 Can a 14-year-old run a business on their own? (a) only with adult help (b) only at night (c) never ever (d) yes, no one needed
20. 20.True or false: “owned by shareholders” is true of a sole trader. (a) False (b) True
21. 21.A small business selling friendship bands had a revenue of ₹540 and a profit of ₹460. What were its costs (in ₹)?
22. 22.📊 Revenue or profit: left after all costs? (a) profit (b) revenue
23. 23.📊 Revenue or profit: goes up if costs fall? (a) profit (b) revenue
24. 24.🏢 Sole trader or company: simplest to start? (a) a sole trader (b) a company
25. 25.A small business sells 36 friendship bands at ₹35 each. Its costs are ₹980. What is its profit (in ₹)?
26. 26.A small business selling glasses of chai had a revenue of ₹210 and a profit of ₹10. What were its costs (in ₹)?
27. 27.True or false: “simplest to start” is true of a company. (a) False (b) True
28. 28.🏢 Sole trader or company: run by directors? (a) a company (b) a sole trader
29. 29.Which of these is true of a company? (a) owner keeps all profit (b) run by directors (c) simplest to start (d) owner owes the debts
30. 30.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
31. 31.A small business sells 12 clay diyas at ₹5 each. Its costs are ₹40. What is its profit (in ₹)?
32. 32.A small business sells 55 paper bookmarks at ₹40 each. What is its revenue (in ₹)?
33. 33.A small business sells 14 bags of popcorn at ₹40 each. Its costs are ₹490. What is its profit (in ₹)?
34. 34.📜 Who should explain tax or legal rules for a business? (a) an adult or an expert (b) a classmate (c) a random video (d) nobody
35. 35.A small business sells 17 cupcakes at ₹15 each. What is its revenue (in ₹)?
36. 36.A small business sells 31 friendship bands at ₹45 each. What is its revenue (in ₹)?
37. 37.Which of these is true of a sole trader? (a) owner keeps all profit (b) run by directors (c) a separate legal body (d) owners’ risk is limited
38. 38.Which of these is true of a company? (a) one owner runs it (b) owners’ risk is limited (c) owner owes the debts (d) owner keeps all profit
39. 39.🏢 Sole trader or company: owners’ risk is limited? (a) a company (b) a sole trader
40. 40.A small business sells 56 fruit cups at ₹15 each. Its costs are ₹100. What is its profit (in ₹)?

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