Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 899 · 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.📊 Revenue minus costs equals… (a) revenue (b) stock (c) profit (d) price
2. 2.A small business selling fruit cups had a revenue of ₹125 and a profit of ₹15. What were its costs (in ₹)?
3. 3.A small business sells 49 friendship bands at ₹30 each. What is its revenue (in ₹)?
4. 4.Which of these is true of a sole trader? (a) owner keeps all profit (b) owners’ risk is limited (c) owned by shareholders (d) run by directors
5. 5.🏢 Sole trader or company: owners’ risk is limited? (a) a company (b) a sole trader
6. 6.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
7. 7.Which of these is true of a company? (a) one owner runs it (b) owner keeps all profit (c) owners’ risk is limited (d) simplest to start
8. 8.True or false: “a separate legal body” is true of a sole trader. (a) True (b) False
9. 9.👤 A sole trader is… (a) a big company (b) a bank (c) a school club (d) a one-owner business
10. 10.🏢 Sole trader or company: owner keeps all profit? (a) a sole trader (b) a company
11. 11.A small business sells 38 friendship bands at ₹35 each. Its costs are ₹210. What is its profit (in ₹)?
12. 12.🏢 A company is owned by… (a) its shareholders (b) its suppliers (c) its customers (d) the government always
13. 13.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
14. 14.A small business sells 14 paper bookmarks at ₹50 each. Its costs are ₹220. What is its profit (in ₹)?
15. 15.A small business selling bags of popcorn had a revenue of ₹465 and a profit of ₹275. What were its costs (in ₹)?
16. 16.Which of these is true of a company? (a) owner owes the debts (b) owner keeps all profit (c) one owner runs it (d) a separate legal body
17. 17.A small business selling clay diyas had a revenue of ₹1550 and a profit of ₹870. What were its costs (in ₹)?
18. 18.A small business sells 23 glasses of chai at ₹35 each. What is its revenue (in ₹)?
19. 19.🏢 Sole trader or company: simplest to start? (a) a company (b) a sole trader
20. 20.A small business sells 46 cupcakes at ₹10 each. What is its revenue (in ₹)?
21. 21.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
22. 22.Which of these is true of a sole trader? (a) owned by shareholders (b) run by directors (c) owner owes the debts (d) a separate legal body
23. 23.True or false: “owned by shareholders” is true of a company. (a) True (b) False
24. 24.📜 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
25. 25.🏢 Sole trader or company: run by directors? (a) a sole trader (b) a company
26. 26.Which of these is true of a company? (a) one owner runs it (b) run by directors (c) simplest to start (d) owner keeps all profit
27. 27.A small business sells 12 fruit cups at ₹30 each. What is its revenue (in ₹)?
28. 28.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
29. 29.A small business sells 58 clay diyas at ₹25 each. Its costs are ₹490. What is its profit (in ₹)?
30. 30.Which of these is true of a sole trader? (a) a separate legal body (b) one owner runs it (c) owners’ risk is limited (d) run by directors
31. 31.A small business sells 46 bags of popcorn at ₹10 each. What is its revenue (in ₹)?
32. 32.A small business selling paper bookmarks had a revenue of ₹95 and a profit of ₹85. What were its costs (in ₹)?
33. 33.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
34. 34.A small business sells 52 glasses of chai at ₹10 each. What is its revenue (in ₹)?
35. 35.A small business sells 54 handmade cards at ₹30 each. What is its revenue (in ₹)?
36. 36.A small business sells 26 potted plants at ₹5 each. Its costs are ₹60. What is its profit (in ₹)?
37. 37.A small business selling glasses of chai had a revenue of ₹1200 and a profit of ₹800. What were its costs (in ₹)?
38. 38.A small business selling handmade cards had a revenue of ₹420 and a profit of ₹150. What were its costs (in ₹)?
39. 39.A small business sells 20 potted plants at ₹30 each. What is its revenue (in ₹)?
40. 40.True or false: “run by directors” is true of a sole trader. (a) True (b) False

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