Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 859 · 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 40 handmade cards at ₹5 each. Its costs are ₹30. What is its profit (in ₹)?
2. 2.True or false: “owner keeps all profit” is true of a company. (a) False (b) True
3. 3.A small business sells 55 bags of popcorn at ₹20 each. What is its revenue (in ₹)?
4. 4.Which of these is true of a company? (a) simplest to start (b) one owner runs it (c) owned by shareholders (d) owner owes the debts
5. 5.True or false: “run by directors” is true of a company. (a) False (b) True
6. 6.📊 Revenue minus costs equals… (a) revenue (b) stock (c) profit (d) price
7. 7.A small business selling paper bookmarks had a revenue of ₹855 and a profit of ₹825. What were its costs (in ₹)?
8. 8.🏢 Sole trader or company: owners’ risk is limited? (a) a sole trader (b) a company
9. 9.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
10. 10.👤 A sole trader is… (a) a one-owner business (b) a bank (c) a big company (d) a school club
11. 11.A small business sells 20 paper bookmarks at ₹50 each. What is its revenue (in ₹)?
12. 12.A small business selling jute bags had a revenue of ₹115 and a profit of ₹65. What were its costs (in ₹)?
13. 13.True or false: “one owner runs it” is true of a sole trader. (a) False (b) True
14. 14.A small business sells 33 paper bookmarks at ₹40 each. What is its revenue (in ₹)?
15. 15.A small business selling friendship bands had a revenue of ₹2520 and a profit of ₹1430. What were its costs (in ₹)?
16. 16.🎂 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
17. 17.A small business selling clay diyas had a revenue of ₹375 and a profit of ₹335. What were its costs (in ₹)?
18. 18.Which of these is true of a sole trader? (a) owners’ risk is limited (b) a separate legal body (c) owned by shareholders (d) owner owes the debts
19. 19.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
20. 20.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
21. 21.A small business sells 16 potted plants at ₹30 each. What is its revenue (in ₹)?
22. 22.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
23. 23.📊 Revenue or profit: money in before costs? (a) profit (b) revenue
24. 24.A small business sells 45 bags of popcorn at ₹5 each. What is its revenue (in ₹)?
25. 25.Which of these is true of a company? (a) a separate legal body (b) owner keeps all profit (c) one owner runs it (d) simplest to start
26. 26.📊 Revenue or profit: price × number sold? (a) revenue (b) profit
27. 27.A small business selling bags of popcorn had a revenue of ₹675 and a profit of ₹515. What were its costs (in ₹)?
28. 28.A small business sells 16 glasses of chai at ₹35 each. What is its revenue (in ₹)?
29. 29.📜 Who should explain tax or legal rules for a business? (a) a random video (b) a classmate (c) an adult or an expert (d) nobody
30. 30.True or false: “owner keeps all profit” is true of a sole trader. (a) True (b) False
31. 31.True or false: “owner owes the debts” is true of a sole trader. (a) False (b) True
32. 32.True or false: “owned by shareholders” is true of a company. (a) True (b) False
33. 33.A small business sells 35 potted plants at ₹45 each. What is its revenue (in ₹)?
34. 34.🏢 A company is owned by… (a) the government always (b) its suppliers (c) its customers (d) its shareholders
35. 35.A small business selling clay diyas had a revenue of ₹520 and a profit of ₹20. What were its costs (in ₹)?
36. 36.A small business sells 57 bags of popcorn at ₹35 each. What is its revenue (in ₹)?
37. 37.A small business sells 43 bags of popcorn at ₹25 each. What is its revenue (in ₹)?
38. 38.True or false: “a separate legal body” is true of a company. (a) False (b) True
39. 39.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
40. 40.A small business sells 35 cups of lemonade at ₹45 each. What is its revenue (in ₹)?

Free entrepreneurship lessons, practice and worksheets at talentjr.in/entrepreneurship-for-kids