Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 830 · 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.🎂 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
2. 2.📊 Revenue or profit: left after all costs? (a) profit (b) revenue
3. 3.🏢 Sole trader or company: simplest to start? (a) a company (b) a sole trader
4. 4.Which of these is true of a company? (a) owners’ risk is limited (b) simplest to start (c) owner keeps all profit (d) one owner runs it
5. 5.True or false: “owner owes the debts” is true of a sole trader. (a) True (b) False
6. 6.A small business sells 17 glasses of chai at ₹15 each. What is its revenue (in ₹)?
7. 7.True or false: “run by directors” is true of a sole trader. (a) True (b) False
8. 8.Which of these is true of a sole trader? (a) owned by shareholders (b) owner owes the debts (c) run by directors (d) owners’ risk is limited
9. 9.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
10. 10.True or false: “owned by shareholders” is true of a sole trader. (a) False (b) True
11. 11.True or false: “a separate legal body” is true of a company. (a) False (b) True
12. 12.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
13. 13.📊 Revenue or profit: price × number sold? (a) revenue (b) profit
14. 14.True or false: “owner keeps all profit” is true of a company. (a) True (b) False
15. 15.🏢 A company is owned by… (a) its suppliers (b) its customers (c) the government always (d) its shareholders
16. 16.A small business sells 20 fruit cups at ₹25 each. What is its revenue (in ₹)?
17. 17.True or false: “owner keeps all profit” is true of a sole trader. (a) True (b) False
18. 18.👤 A sole trader is… (a) a school club (b) a bank (c) a one-owner business (d) a big company
19. 19.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
20. 20.A small business sells 18 fruit cups at ₹20 each. What is its revenue (in ₹)?
21. 21.📜 Who should explain tax or legal rules for a business? (a) a classmate (b) a random video (c) nobody (d) an adult or an expert
22. 22.A small business sells 48 clay diyas at ₹30 each. What is its revenue (in ₹)?
23. 23.True or false: “owned by shareholders” is true of a company. (a) False (b) True
24. 24.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
25. 25.📊 Revenue or profit: money in before costs? (a) profit (b) revenue
26. 26.A small business sells 20 fruit cups at ₹50 each. What is its revenue (in ₹)?
27. 27.Which of these is true of a sole trader? (a) owners’ risk is limited (b) run by directors (c) simplest to start (d) owned by shareholders
28. 28.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
29. 29.A small business selling clay diyas had a revenue of ₹2065 and a profit of ₹1475. What were its costs (in ₹)?
30. 30.A small business sells 28 friendship bands at ₹5 each. What is its revenue (in ₹)?
31. 31.📊 Revenue minus costs equals… (a) revenue (b) stock (c) profit (d) price
32. 32.True or false: “a separate legal body” is true of a sole trader. (a) False (b) True
33. 33.True or false: “owner owes the debts” is true of a company. (a) False (b) True
34. 34.A small business selling cupcakes had a revenue of ₹380 and a profit of ₹350. What were its costs (in ₹)?
35. 35.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
36. 36.A small business sells 15 cupcakes at ₹25 each. What is its revenue (in ₹)?
37. 37.Which of these is true of a company? (a) owner keeps all profit (b) simplest to start (c) one owner runs it (d) a separate legal body
38. 38.A small business selling bags of popcorn had a revenue of ₹560 and a profit of ₹20. What were its costs (in ₹)?
39. 39.🏢 Sole trader or company: run by directors? (a) a company (b) a sole trader
40. 40.A small business sells 27 glasses of chai at ₹15 each. Its costs are ₹190. What is its profit (in ₹)?

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