Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 93 · 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.🏢 Sole trader or company: owners’ risk is limited? (a) a company (b) a sole trader
2. 2.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
3. 3.A small business sells 12 glasses of chai at ₹35 each. What is its revenue (in ₹)?
4. 4.A small business selling fruit cups had a revenue of ₹1200 and a profit of ₹830. What were its costs (in ₹)?
5. 5.🏢 Sole trader or company: simplest to start? (a) a company (b) a sole trader
6. 6.A small business selling glasses of chai had a revenue of ₹1300 and a profit of ₹500. What were its costs (in ₹)?
7. 7.A small business selling clay diyas had a revenue of ₹2360 and a profit of ₹680. What were its costs (in ₹)?
8. 8.A small business sells 48 friendship bands at ₹30 each. What is its revenue (in ₹)?
9. 9.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
10. 10.A small business sells 24 painted pebbles at ₹5 each. What is its revenue (in ₹)?
11. 11.Which of these is true of a company? (a) one owner runs it (b) simplest to start (c) owner keeps all profit (d) a separate legal body
12. 12.📊 Revenue or profit: money in before costs? (a) profit (b) revenue
13. 13.True or false: “owner owes the debts” is true of a company. (a) True (b) False
14. 14.A small business sells 22 cups of lemonade at ₹10 each. What is its revenue (in ₹)?
15. 15.True or false: “a separate legal body” is true of a sole trader. (a) True (b) False
16. 16.A small business sells 30 potted plants at ₹20 each. Its costs are ₹160. What is its profit (in ₹)?
17. 17.Which of these is true of a sole trader? (a) owned by shareholders (b) owners’ risk is limited (c) run by directors (d) owner keeps all profit
18. 18.A small business sells 10 cupcakes at ₹10 each. What is its revenue (in ₹)?
19. 19.A small business sells 20 bags of popcorn at ₹30 each. What is its revenue (in ₹)?
20. 20.📊 Revenue minus costs equals… (a) price (b) stock (c) profit (d) revenue
21. 21.A small business sells 38 friendship bands at ₹5 each. Its costs are ₹80. What is its profit (in ₹)?
22. 22.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
23. 23.🏢 Sole trader or company: run by directors? (a) a company (b) a sole trader
24. 24.A small business sells 26 friendship bands at ₹50 each. What is its revenue (in ₹)?
25. 25.A small business sells 48 potted plants at ₹15 each. What is its revenue (in ₹)?
26. 26.A small business sells 47 cupcakes at ₹20 each. What is its revenue (in ₹)?
27. 27.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
28. 28.A small business sells 38 bags of popcorn at ₹25 each. What is its revenue (in ₹)?
29. 29.📜 Who should explain tax or legal rules for a business? (a) a random video (b) nobody (c) a classmate (d) an adult or an expert
30. 30.A small business sells 25 jute bags at ₹25 each. What is its revenue (in ₹)?
31. 31.A small business sells 41 handmade cards at ₹10 each. What is its revenue (in ₹)?
32. 32.A small business sells 57 cupcakes at ₹30 each. What is its revenue (in ₹)?
33. 33.Which of these is true of a company? (a) owners’ risk is limited (b) one owner runs it (c) owner owes the debts (d) owner keeps all profit
34. 34.A small business sells 44 clay diyas at ₹35 each. What is its revenue (in ₹)?
35. 35.🏢 A company is owned by… (a) the government always (b) its suppliers (c) its shareholders (d) its customers
36. 36.A small business sells 54 bags of popcorn at ₹10 each. Its costs are ₹270. What is its profit (in ₹)?
37. 37.📊 Revenue or profit: revenue minus costs? (a) profit (b) revenue
38. 38.True or false: “owner owes the debts” is true of a sole trader. (a) False (b) True
39. 39.👤 A sole trader is… (a) a school club (b) a bank (c) a one-owner business (d) a big company
40. 40.A small business sells 12 painted pebbles at ₹50 each. Its costs are ₹540. What is its profit (in ₹)?

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