Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 889 · 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 15 fruit cups at ₹15 each. What is its revenue (in ₹)?
2. 2.A small business sells 60 painted pebbles at ₹30 each. What is its revenue (in ₹)?
3. 3.A small business sells 26 bags of popcorn at ₹10 each. What is its revenue (in ₹)?
4. 4.A small business selling fruit cups had a revenue of ₹1840 and a profit of ₹1420. What were its costs (in ₹)?
5. 5.A small business sells 22 friendship bands at ₹50 each. Its costs are ₹930. What is its profit (in ₹)?
6. 6.👤 A sole trader is… (a) a school club (b) a big company (c) a one-owner business (d) a bank
7. 7.A small business sells 30 painted pebbles at ₹50 each. What is its revenue (in ₹)?
8. 8.A small business sells 28 paper bookmarks at ₹40 each. What is its revenue (in ₹)?
9. 9.A small business sells 12 bags of popcorn at ₹20 each. Its costs are ₹190. What is its profit (in ₹)?
10. 10.Which of these is true of a sole trader? (a) run by directors (b) owned by shareholders (c) owner keeps all profit (d) owners’ risk is limited
11. 11.Which of these is true of a company? (a) owner owes the debts (b) owner keeps all profit (c) owned by shareholders (d) one owner runs it
12. 12.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
13. 13.📊 Revenue minus costs equals… (a) revenue (b) stock (c) profit (d) price
14. 14.🏢 Sole trader or company: run by directors? (a) a sole trader (b) a company
15. 15.A small business sells 57 clay diyas at ₹25 each. Its costs are ₹400. What is its profit (in ₹)?
16. 16.🏢 Sole trader or company: owners’ risk is limited? (a) a company (b) a sole trader
17. 17.True or false: “a separate legal body” is true of a sole trader. (a) False (b) True
18. 18.A small business selling cupcakes had a revenue of ₹480 and a profit of ₹330. What were its costs (in ₹)?
19. 19.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
20. 20.True or false: “owner keeps all profit” is true of a sole trader. (a) False (b) True
21. 21.True or false: “one owner runs it” is true of a sole trader. (a) False (b) True
22. 22.A small business sells 50 paper bookmarks at ₹45 each. Its costs are ₹1810. What is its profit (in ₹)?
23. 23.📊 Revenue or profit: money in before costs? (a) profit (b) revenue
24. 24.True or false: “owner owes the debts” is true of a company. (a) True (b) False
25. 25.A small business sells 26 potted plants at ₹5 each. What is its revenue (in ₹)?
26. 26.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
27. 27.A small business selling fruit cups had a revenue of ₹180 and a profit of ₹60. What were its costs (in ₹)?
28. 28.A small business sells 12 clay diyas at ₹40 each. Its costs are ₹180. What is its profit (in ₹)?
29. 29.A small business sells 35 paper bookmarks at ₹15 each. Its costs are ₹250. What is its profit (in ₹)?
30. 30.Which of these is true of a company? (a) owner keeps all profit (b) one owner runs it (c) run by directors (d) simplest to start
31. 31.True or false: “simplest to start” is true of a company. (a) False (b) True
32. 32.Which of these is true of a company? (a) owner keeps all profit (b) a separate legal body (c) simplest to start (d) owner owes the debts
33. 33.A small business selling cups of lemonade had a revenue of ₹1925 and a profit of ₹495. What were its costs (in ₹)?
34. 34.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
35. 35.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
36. 36.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
37. 37.A small business sells 11 cupcakes at ₹15 each. What is its revenue (in ₹)?
38. 38.Which of these is true of a sole trader? (a) owners’ risk is limited (b) owned by shareholders (c) owner owes the debts (d) a separate legal body
39. 39.True or false: “owned by shareholders” is true of a company. (a) True (b) False
40. 40.True or false: “owned by shareholders” is true of a sole trader. (a) False (b) True

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