Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 950 · 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: a separate legal body? (a) a sole trader (b) a company
2. 2.A small business sells 40 clay diyas at ₹15 each. What is its revenue (in ₹)?
3. 3.A small business sells 59 potted plants at ₹15 each. Its costs are ₹170. What is its profit (in ₹)?
4. 4.True or false: “a separate legal body” is true of a sole trader. (a) False (b) True
5. 5.A small business sells 33 paper bookmarks at ₹50 each. What is its revenue (in ₹)?
6. 6.True or false: “run by directors” is true of a company. (a) False (b) True
7. 7.🏢 Sole trader or company: run by directors? (a) a sole trader (b) a company
8. 8.👤 A sole trader is… (a) a one-owner business (b) a big company (c) a bank (d) a school club
9. 9.Which of these is true of a company? (a) simplest to start (b) one owner runs it (c) owners’ risk is limited (d) owner keeps all profit
10. 10.📜 Who should explain tax or legal rules for a business? (a) nobody (b) an adult or an expert (c) a classmate (d) a random video
11. 11.True or false: “one owner runs it” is true of a company. (a) True (b) False
12. 12.A small business selling cupcakes had a revenue of ₹2340 and a profit of ₹390. What were its costs (in ₹)?
13. 13.🏢 A company is owned by… (a) its customers (b) its suppliers (c) the government always (d) its shareholders
14. 14.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
15. 15.A small business sells 29 cupcakes at ₹15 each. What is its revenue (in ₹)?
16. 16.A small business selling glasses of chai had a revenue of ₹300 and a profit of ₹110. What were its costs (in ₹)?
17. 17.A small business sells 23 jute bags at ₹50 each. What is its revenue (in ₹)?
18. 18.A small business sells 26 clay diyas at ₹10 each. What is its revenue (in ₹)?
19. 19.A small business sells 10 glasses of chai at ₹40 each. What is its revenue (in ₹)?
20. 20.A small business sells 31 friendship bands at ₹10 each. Its costs are ₹260. What is its profit (in ₹)?
21. 21.A small business selling jute bags had a revenue of ₹90 and a profit of ₹60. What were its costs (in ₹)?
22. 22.A small business sells 10 handmade cards at ₹50 each. Its costs are ₹330. What is its profit (in ₹)?
23. 23.A small business sells 19 cupcakes at ₹10 each. Its costs are ₹90. What is its profit (in ₹)?
24. 24.True or false: “owner keeps all profit” is true of a sole trader. (a) False (b) True
25. 25.📊 Revenue or profit: revenue minus costs? (a) profit (b) revenue
26. 26.🎂 Can a 14-year-old run a business on their own? (a) yes, no one needed (b) only with adult help (c) never ever (d) only at night
27. 27.True or false: “a separate legal body” is true of a company. (a) False (b) True
28. 28.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
29. 29.Which of these is true of a sole trader? (a) run by directors (b) owners’ risk is limited (c) owned by shareholders (d) owner owes the debts
30. 30.A small business sells 41 bags of popcorn at ₹25 each. What is its revenue (in ₹)?
31. 31.🏢 Sole trader or company: owned by shareholders? (a) a company (b) a sole trader
32. 32.Which of these is true of a company? (a) owner owes the debts (b) owner keeps all profit (c) one owner runs it (d) run by directors
33. 33.🏢 Sole trader or company: owner keeps all profit? (a) a sole trader (b) a company
34. 34.A small business sells 34 glasses of chai at ₹20 each. Its costs are ₹70. What is its profit (in ₹)?
35. 35.A small business selling friendship bands had a revenue of ₹2360 and a profit of ₹1890. What were its costs (in ₹)?
36. 36.A small business selling potted plants had a revenue of ₹945 and a profit of ₹135. What were its costs (in ₹)?
37. 37.A small business selling paper bookmarks had a revenue of ₹945 and a profit of ₹145. What were its costs (in ₹)?
38. 38.🏢 Sole trader or company: owner owes the debts? (a) a sole trader (b) a company
39. 39.True or false: “one owner runs it” is true of a sole trader. (a) True (b) False
40. 40.A small business sells 39 painted pebbles at ₹35 each. What is its revenue (in ₹)?

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