Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 875 · 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 16 handmade cards at ₹50 each. Its costs are ₹220. What is its profit (in ₹)?
2. 2.A small business sells 41 cups of lemonade at ₹30 each. Its costs are ₹470. What is its profit (in ₹)?
3. 3.A small business sells 10 jute bags at ₹20 each. Its costs are ₹70. What is its profit (in ₹)?
4. 4.Which of these is true of a sole trader? (a) a separate legal body (b) owned by shareholders (c) run by directors (d) simplest to start
5. 5.A small business selling friendship bands had a revenue of ₹990 and a profit of ₹10. What were its costs (in ₹)?
6. 6.Which of these is true of a sole trader? (a) owners’ risk is limited (b) run by directors (c) a separate legal body (d) owner owes the debts
7. 7.Which of these is true of a company? (a) owned by shareholders (b) owner keeps all profit (c) simplest to start (d) one owner runs it
8. 8.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
9. 9.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
10. 10.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
11. 11.📊 Revenue or profit: money in before costs? (a) profit (b) revenue
12. 12.🎂 Can a 14-year-old run a business on their own? (a) never ever (b) yes, no one needed (c) only at night (d) only with adult help
13. 13.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
14. 14.Which of these is true of a sole trader? (a) a separate legal body (b) run by directors (c) owned by shareholders (d) one owner runs it
15. 15.🏢 A company is owned by… (a) its suppliers (b) its shareholders (c) the government always (d) its customers
16. 16.True or false: “owner owes the debts” is true of a sole trader. (a) True (b) False
17. 17.📜 Who should explain tax or legal rules for a business? (a) nobody (b) a random video (c) an adult or an expert (d) a classmate
18. 18.A small business sells 29 fruit cups at ₹20 each. What is its revenue (in ₹)?
19. 19.Which of these is true of a company? (a) simplest to start (b) owner owes the debts (c) owner keeps all profit (d) a separate legal body
20. 20.📊 Revenue or profit: left after all costs? (a) profit (b) revenue
21. 21.👤 A sole trader is… (a) a school club (b) a big company (c) a one-owner business (d) a bank
22. 22.A small business selling glasses of chai had a revenue of ₹240 and a profit of ₹180. What were its costs (in ₹)?
23. 23.A small business sells 11 painted pebbles at ₹25 each. What is its revenue (in ₹)?
24. 24.A small business selling potted plants had a revenue of ₹945 and a profit of ₹215. What were its costs (in ₹)?
25. 25.Which of these is true of a sole trader? (a) run by directors (b) owned by shareholders (c) owners’ risk is limited (d) owner keeps all profit
26. 26.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
27. 27.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
28. 28.A small business sells 25 painted pebbles at ₹50 each. What is its revenue (in ₹)?
29. 29.A small business sells 50 cups of lemonade at ₹10 each. What is its revenue (in ₹)?
30. 30.A small business sells 20 fruit cups at ₹20 each. What is its revenue (in ₹)?
31. 31.🏢 Sole trader or company: owners’ risk is limited? (a) a company (b) a sole trader
32. 32.A small business sells 58 jute bags at ₹10 each. Its costs are ₹130. What is its profit (in ₹)?
33. 33.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
34. 34.Which of these is true of a company? (a) run by directors (b) owner owes the debts (c) simplest to start (d) owner keeps all profit
35. 35.A small business sells 41 clay diyas at ₹15 each. Its costs are ₹350. What is its profit (in ₹)?
36. 36.A small business sells 36 jute bags at ₹40 each. What is its revenue (in ₹)?
37. 37.🏢 Sole trader or company: run by directors? (a) a sole trader (b) a company
38. 38.A small business sells 57 fruit cups at ₹45 each. What is its revenue (in ₹)?
39. 39.A small business selling glasses of chai had a revenue of ₹630 and a profit of ₹460. What were its costs (in ₹)?
40. 40.A small business sells 39 friendship bands at ₹25 each. Its costs are ₹60. What is its profit (in ₹)?

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