Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 933 · 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 48 painted pebbles at ₹30 each. What is its revenue (in ₹)?
2. 2.A small business sells 16 cups of lemonade at ₹40 each. Its costs are ₹30. What is its profit (in ₹)?
3. 3.True or false: “simplest to start” is true of a company. (a) True (b) False
4. 4.📊 Revenue or profit: left after all costs? (a) profit (b) revenue
5. 5.A small business selling handmade cards had a revenue of ₹855 and a profit of ₹55. What were its costs (in ₹)?
6. 6.A small business sells 20 paper bookmarks at ₹5 each. What is its revenue (in ₹)?
7. 7.🏢 Sole trader or company: owners’ risk is limited? (a) a company (b) a sole trader
8. 8.🏢 Sole trader or company: a separate legal body? (a) a sole trader (b) a company
9. 9.A small business sells 35 potted plants at ₹20 each. Its costs are ₹60. What is its profit (in ₹)?
10. 10.True or false: “owners’ risk is limited” is true of a sole trader. (a) True (b) False
11. 11.A small business sells 12 cups of lemonade at ₹25 each. Its costs are ₹200. What is its profit (in ₹)?
12. 12.True or false: “a separate legal body” is true of a sole trader. (a) True (b) False
13. 13.A small business sells 29 clay diyas at ₹35 each. Its costs are ₹200. What is its profit (in ₹)?
14. 14.A small business sells 56 bags of popcorn at ₹30 each. What is its revenue (in ₹)?
15. 15.Which of these is true of a sole trader? (a) owners’ risk is limited (b) run by directors (c) owned by shareholders (d) one owner runs it
16. 16.A small business selling paper bookmarks had a revenue of ₹100 and a profit of ₹90. What were its costs (in ₹)?
17. 17.A small business sells 52 fruit cups at ₹20 each. What is its revenue (in ₹)?
18. 18.A small business sells 53 handmade cards at ₹20 each. What is its revenue (in ₹)?
19. 19.A small business selling paper bookmarks had a revenue of ₹1050 and a profit of ₹280. What were its costs (in ₹)?
20. 20.Which of these is true of a company? (a) owner owes the debts (b) simplest to start (c) owned by shareholders (d) one owner runs it
21. 21.📊 Revenue or profit: price × number sold? (a) revenue (b) profit
22. 22.A small business sells 14 cups of lemonade at ₹20 each. What is its revenue (in ₹)?
23. 23.Which of these is true of a sole trader? (a) simplest to start (b) owned by shareholders (c) run by directors (d) a separate legal body
24. 24.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
25. 25.📊 Revenue minus costs equals… (a) profit (b) price (c) revenue (d) stock
26. 26.A small business sells 21 painted pebbles at ₹45 each. Its costs are ₹440. What is its profit (in ₹)?
27. 27.📊 Revenue or profit: revenue minus costs? (a) profit (b) revenue
28. 28.🏢 Sole trader or company: owner owes the debts? (a) a sole trader (b) a company
29. 29.A small business sells 21 friendship bands at ₹10 each. Its costs are ₹30. What is its profit (in ₹)?
30. 30.📜 Who should explain tax or legal rules for a business? (a) nobody (b) a random video (c) a classmate (d) an adult or an expert
31. 31.A small business sells 47 glasses of chai at ₹20 each. Its costs are ₹400. What is its profit (in ₹)?
32. 32.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
33. 33.True or false: “owner keeps all profit” is true of a company. (a) True (b) False
34. 34.A small business sells 39 jute bags at ₹20 each. What is its revenue (in ₹)?
35. 35.A small business sells 30 cups of lemonade at ₹30 each. Its costs are ₹20. What is its profit (in ₹)?
36. 36.Which of these is true of a sole trader? (a) a separate legal body (b) owners’ risk is limited (c) run by directors (d) owner keeps all profit
37. 37.Which of these is true of a company? (a) owner keeps all profit (b) owner owes the debts (c) one owner runs it (d) run by directors
38. 38.Which of these is true of a company? (a) one owner runs it (b) owner keeps all profit (c) simplest to start (d) owners’ risk is limited
39. 39.A small business sells 23 painted pebbles at ₹20 each. What is its revenue (in ₹)?
40. 40.🏢 Sole trader or company: owner keeps all profit? (a) a sole trader (b) a company

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