Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 912 · 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 or profit: money in before costs? (a) revenue (b) profit
2. 2.Which of these is true of a company? (a) owners’ risk is limited (b) owner owes the debts (c) simplest to start (d) one owner runs it
3. 3.A small business sells 56 bags of popcorn at ₹45 each. Its costs are ₹40. What is its profit (in ₹)?
4. 4.A small business selling jute bags had a revenue of ₹1400 and a profit of ₹1110. What were its costs (in ₹)?
5. 5.A small business sells 21 fruit cups at ₹50 each. Its costs are ₹860. What is its profit (in ₹)?
6. 6.True or false: “one owner runs it” is true of a company. (a) True (b) False
7. 7.📊 Revenue or profit: left after all costs? (a) profit (b) revenue
8. 8.A small business sells 26 bags of popcorn at ₹30 each. Its costs are ₹220. What is its profit (in ₹)?
9. 9.🏢 Sole trader or company: a separate legal body? (a) a sole trader (b) a company
10. 10.Which of these is true of a company? (a) one owner runs it (b) owner owes the debts (c) owner keeps all profit (d) a separate legal body
11. 11.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
12. 12.📜 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
13. 13.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
14. 14.True or false: “simplest to start” is true of a company. (a) True (b) False
15. 15.Which of these is true of a company? (a) simplest to start (b) owner keeps all profit (c) one owner runs it (d) run by directors
16. 16.🏢 A company is owned by… (a) its suppliers (b) its shareholders (c) the government always (d) its customers
17. 17.A small business sells 59 fruit cups at ₹45 each. Its costs are ₹1530. What is its profit (in ₹)?
18. 18.A small business sells 17 jute bags at ₹5 each. Its costs are ₹30. What is its profit (in ₹)?
19. 19.True or false: “owned by shareholders” is true of a company. (a) False (b) True
20. 20.🏢 Sole trader or company: run by directors? (a) a company (b) a sole trader
21. 21.A small business sells 18 fruit cups at ₹50 each. What is its revenue (in ₹)?
22. 22.🎂 Can a 14-year-old run a business on their own? (a) never ever (b) only at night (c) yes, no one needed (d) only with adult help
23. 23.📊 Revenue or profit: price × number sold? (a) revenue (b) profit
24. 24.🏢 Sole trader or company: simplest to start? (a) a company (b) a sole trader
25. 25.A small business sells 48 fruit cups at ₹50 each. Its costs are ₹1670. What is its profit (in ₹)?
26. 26.📊 Revenue minus costs equals… (a) profit (b) stock (c) price (d) revenue
27. 27.A small business sells 53 bags of popcorn at ₹15 each. What is its revenue (in ₹)?
28. 28.Which of these is true of a company? (a) owner keeps all profit (b) simplest to start (c) one owner runs it (d) owned by shareholders
29. 29.A small business sells 37 cups of lemonade at ₹45 each. Its costs are ₹640. What is its profit (in ₹)?
30. 30.A small business sells 35 glasses of chai at ₹35 each. What is its revenue (in ₹)?
31. 31.A small business sells 43 cupcakes at ₹50 each. Its costs are ₹130. What is its profit (in ₹)?
32. 32.👤 A sole trader is… (a) a school club (b) a bank (c) a big company (d) a one-owner business
33. 33.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
34. 34.A small business sells 47 glasses of chai at ₹20 each. What is its revenue (in ₹)?
35. 35.A small business selling cups of lemonade had a revenue of ₹820 and a profit of ₹150. What were its costs (in ₹)?
36. 36.A small business selling paper bookmarks had a revenue of ₹775 and a profit of ₹725. What were its costs (in ₹)?
37. 37.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
38. 38.True or false: “one owner runs it” is true of a sole trader. (a) False (b) True
39. 39.A small business sells 51 cups of lemonade at ₹45 each. What is its revenue (in ₹)?
40. 40.Which of these is true of a sole trader? (a) a separate legal body (b) owned by shareholders (c) owner owes the debts (d) run by directors

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