Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 870 · 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 company (b) a sole trader
2. 2.📜 Who should explain tax or legal rules for a business? (a) a classmate (b) an adult or an expert (c) nobody (d) a random video
3. 3.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
4. 4.A small business sells 20 potted plants at ₹35 each. What is its revenue (in ₹)?
5. 5.Which of these is true of a company? (a) run by directors (b) owner keeps all profit (c) one owner runs it (d) simplest to start
6. 6.True or false: “owner owes the debts” is true of a company. (a) True (b) False
7. 7.A small business selling fruit cups had a revenue of ₹510 and a profit of ₹40. What were its costs (in ₹)?
8. 8.True or false: “owned by shareholders” is true of a sole trader. (a) True (b) False
9. 9.📊 Revenue or profit: revenue minus costs? (a) profit (b) revenue
10. 10.A small business selling paper bookmarks had a revenue of ₹115 and a profit of ₹105. What were its costs (in ₹)?
11. 11.A small business selling bags of popcorn had a revenue of ₹80 and a profit of ₹20. What were its costs (in ₹)?
12. 12.🏢 A company is owned by… (a) the government always (b) its shareholders (c) its suppliers (d) its customers
13. 13.🎂 Can a 14-year-old run a business on their own? (a) only at night (b) only with adult help (c) yes, no one needed (d) never ever
14. 14.Which of these is true of a sole trader? (a) one owner runs it (b) run by directors (c) owned by shareholders (d) owners’ risk is limited
15. 15.Which of these is true of a company? (a) simplest to start (b) owner keeps all profit (c) owner owes the debts (d) a separate legal body
16. 16.A small business selling cupcakes had a revenue of ₹510 and a profit of ₹90. What were its costs (in ₹)?
17. 17.True or false: “owner owes the debts” is true of a sole trader. (a) True (b) False
18. 18.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
19. 19.🏢 Sole trader or company: owner owes the debts? (a) a sole trader (b) a company
20. 20.👤 A sole trader is… (a) a one-owner business (b) a school club (c) a big company (d) a bank
21. 21.Which of these is true of a sole trader? (a) owned by shareholders (b) a separate legal body (c) simplest to start (d) run by directors
22. 22.A small business sells 59 cupcakes at ₹35 each. What is its revenue (in ₹)?
23. 23.True or false: “simplest to start” is true of a company. (a) False (b) True
24. 24.A small business sells 34 potted plants at ₹20 each. Its costs are ₹290. What is its profit (in ₹)?
25. 25.True or false: “owned by shareholders” is true of a company. (a) True (b) False
26. 26.A small business sells 21 paper bookmarks at ₹20 each. What is its revenue (in ₹)?
27. 27.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
28. 28.📊 Revenue minus costs equals… (a) stock (b) revenue (c) price (d) profit
29. 29.True or false: “owners’ risk is limited” is true of a sole trader. (a) False (b) True
30. 30.A small business sells 52 cupcakes at ₹20 each. What is its revenue (in ₹)?
31. 31.Which of these is true of a company? (a) owner owes the debts (b) owned by shareholders (c) simplest to start (d) one owner runs it
32. 32.A small business sells 15 glasses of chai at ₹15 each. Its costs are ₹80. What is its profit (in ₹)?
33. 33.A small business sells 54 potted plants at ₹5 each. What is its revenue (in ₹)?
34. 34.A small business selling friendship bands had a revenue of ₹280 and a profit of ₹130. What were its costs (in ₹)?
35. 35.A small business sells 60 bags of popcorn at ₹45 each. What is its revenue (in ₹)?
36. 36.A small business sells 14 paper bookmarks at ₹35 each. What is its revenue (in ₹)?
37. 37.A small business sells 10 potted plants at ₹40 each. What is its revenue (in ₹)?
38. 38.A small business sells 59 painted pebbles at ₹5 each. What is its revenue (in ₹)?
39. 39.🏢 Sole trader or company: simplest to start? (a) a sole trader (b) a company
40. 40.True or false: “simplest to start” is true of a sole trader. (a) True (b) False

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