Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 905 · 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 42 potted plants at ₹5 each. What is its revenue (in ₹)?
2. 2.🎂 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
3. 3.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
4. 4.📊 Revenue minus costs equals… (a) revenue (b) stock (c) price (d) profit
5. 5.A small business selling bags of popcorn had a revenue of ₹480 and a profit of ₹270. What were its costs (in ₹)?
6. 6.A small business selling glasses of chai had a revenue of ₹325 and a profit of ₹225. What were its costs (in ₹)?
7. 7.Which of these is true of a company? (a) simplest to start (b) a separate legal body (c) owner keeps all profit (d) one owner runs it
8. 8.A small business selling cups of lemonade had a revenue of ₹160 and a profit of ₹110. What were its costs (in ₹)?
9. 9.🏢 Sole trader or company: run by directors? (a) a sole trader (b) a company
10. 10.A small business sells 23 bags of popcorn at ₹10 each. Its costs are ₹100. What is its profit (in ₹)?
11. 11.A small business selling cups of lemonade had a revenue of ₹575 and a profit of ₹405. What were its costs (in ₹)?
12. 12.Which of these is true of a sole trader? (a) run by directors (b) owned by shareholders (c) owners’ risk is limited (d) one owner runs it
13. 13.A small business sells 52 fruit cups at ₹5 each. What is its revenue (in ₹)?
14. 14.True or false: “owners’ risk is limited” is true of a company. (a) True (b) False
15. 15.A small business sells 55 fruit cups at ₹50 each. Its costs are ₹1430. What is its profit (in ₹)?
16. 16.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
17. 17.True or false: “one owner runs it” is true of a company. (a) True (b) False
18. 18.True or false: “owner owes the debts” is true of a company. (a) True (b) False
19. 19.📊 Revenue or profit: left after all costs? (a) profit (b) revenue
20. 20.🏢 Sole trader or company: simplest to start? (a) a company (b) a sole trader
21. 21.Which of these is true of a sole trader? (a) owned by shareholders (b) a separate legal body (c) owner keeps all profit (d) run by directors
22. 22.A small business sells 23 cupcakes at ₹5 each. Its costs are ₹60. What is its profit (in ₹)?
23. 23.A small business sells 14 fruit cups at ₹35 each. What is its revenue (in ₹)?
24. 24.📜 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
25. 25.A small business sells 45 jute bags at ₹15 each. Its costs are ₹60. What is its profit (in ₹)?
26. 26.True or false: “owner owes the debts” is true of a sole trader. (a) False (b) True
27. 27.True or false: “owner keeps all profit” is true of a company. (a) False (b) True
28. 28.True or false: “run by directors” is true of a company. (a) False (b) True
29. 29.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
30. 30.A small business sells 40 paper bookmarks at ₹35 each. What is its revenue (in ₹)?
31. 31.👤 A sole trader is… (a) a one-owner business (b) a big company (c) a school club (d) a bank
32. 32.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
33. 33.A small business selling jute bags had a revenue of ₹270 and a profit of ₹50. What were its costs (in ₹)?
34. 34.Which of these is true of a company? (a) simplest to start (b) owned by shareholders (c) owner keeps all profit (d) owner owes the debts
35. 35.📊 Revenue or profit: revenue minus costs? (a) profit (b) revenue
36. 36.A small business sells 14 friendship bands at ₹35 each. Its costs are ₹290. What is its profit (in ₹)?
37. 37.A small business selling painted pebbles had a revenue of ₹725 and a profit of ₹425. What were its costs (in ₹)?
38. 38.True or false: “a separate legal body” is true of a sole trader. (a) True (b) False
39. 39.True or false: “run by directors” is true of a sole trader. (a) False (b) True
40. 40.A small business sells 58 clay diyas at ₹30 each. What is its revenue (in ₹)?

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