Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 948 · 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 selling glasses of chai had a revenue of ₹285 and a profit of ₹45. What were its costs (in ₹)?
2. 2.👤 A sole trader is… (a) a school club (b) a one-owner business (c) a bank (d) a big company
3. 3.Which of these is true of a sole trader? (a) owner keeps all profit (b) owned by shareholders (c) a separate legal body (d) owners’ risk is limited
4. 4.A small business sells 47 cups of lemonade at ₹5 each. What is its revenue (in ₹)?
5. 5.A small business sells 31 potted plants at ₹10 each. What is its revenue (in ₹)?
6. 6.A small business selling handmade cards had a revenue of ₹280 and a profit of ₹180. What were its costs (in ₹)?
7. 7.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
8. 8.A small business sells 23 fruit cups at ₹40 each. What is its revenue (in ₹)?
9. 9.True or false: “owner owes the debts” is true of a sole trader. (a) False (b) True
10. 10.True or false: “one owner runs it” is true of a sole trader. (a) True (b) False
11. 11.Which of these is true of a company? (a) simplest to start (b) owner keeps all profit (c) one owner runs it (d) owners’ risk is limited
12. 12.Which of these is true of a company? (a) owner owes the debts (b) a separate legal body (c) one owner runs it (d) simplest to start
13. 13.A small business sells 38 handmade cards at ₹10 each. Its costs are ₹320. What is its profit (in ₹)?
14. 14.A small business sells 39 glasses of chai at ₹30 each. What is its revenue (in ₹)?
15. 15.A small business selling friendship bands had a revenue of ₹200 and a profit of ₹30. What were its costs (in ₹)?
16. 16.Which of these is true of a company? (a) one owner runs it (b) simplest to start (c) owner owes the debts (d) owned by shareholders
17. 17.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
18. 18.A small business sells 16 cups of lemonade at ₹50 each. Its costs are ₹370. What is its profit (in ₹)?
19. 19.📊 Revenue minus costs equals… (a) profit (b) revenue (c) price (d) stock
20. 20.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
21. 21.🏢 A company is owned by… (a) its suppliers (b) the government always (c) its customers (d) its shareholders
22. 22.A small business sells 13 handmade cards at ₹25 each. What is its revenue (in ₹)?
23. 23.A small business sells 59 clay diyas at ₹40 each. What is its revenue (in ₹)?
24. 24.🏢 Sole trader or company: owner keeps all profit? (a) a sole trader (b) a company
25. 25.A small business sells 42 friendship bands at ₹30 each. Its costs are ₹1120. What is its profit (in ₹)?
26. 26.A small business selling bags of popcorn had a revenue of ₹320 and a profit of ₹180. What were its costs (in ₹)?
27. 27.A small business sells 39 painted pebbles at ₹5 each. What is its revenue (in ₹)?
28. 28.A small business selling paper bookmarks had a revenue of ₹330 and a profit of ₹20. What were its costs (in ₹)?
29. 29.📜 Who should explain tax or legal rules for a business? (a) a classmate (b) nobody (c) an adult or an expert (d) a random video
30. 30.A small business selling fruit cups had a revenue of ₹2160 and a profit of ₹890. What were its costs (in ₹)?
31. 31.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
32. 32.🏢 Sole trader or company: owned by shareholders? (a) a company (b) a sole trader
33. 33.A small business sells 25 paper bookmarks at ₹30 each. What is its revenue (in ₹)?
34. 34.A small business selling jute bags had a revenue of ₹360 and a profit of ₹200. What were its costs (in ₹)?
35. 35.A small business selling bags of popcorn had a revenue of ₹255 and a profit of ₹115. What were its costs (in ₹)?
36. 36.A small business sells 16 friendship bands at ₹25 each. Its costs are ₹110. What is its profit (in ₹)?
37. 37.A small business sells 23 painted pebbles at ₹50 each. Its costs are ₹220. What is its profit (in ₹)?
38. 38.A small business sells 44 glasses of chai at ₹5 each. What is its revenue (in ₹)?
39. 39.A small business sells 46 glasses of chai at ₹10 each. Its costs are ₹80. What is its profit (in ₹)?
40. 40.A small business sells 20 friendship bands at ₹35 each. What is its revenue (in ₹)?

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