Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 951 · 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.Which of these is true of a sole trader? (a) a separate legal body (b) owned by shareholders (c) simplest to start (d) owners’ risk is limited
2. 2.True or false: “owned by shareholders” is true of a sole trader. (a) True (b) False
3. 3.A small business selling clay diyas had a revenue of ₹1500 and a profit of ₹870. What were its costs (in ₹)?
4. 4.📊 Revenue or profit: left after all costs? (a) profit (b) revenue
5. 5.A small business sells 20 painted pebbles at ₹20 each. What is its revenue (in ₹)?
6. 6.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
7. 7.📊 Revenue minus costs equals… (a) price (b) revenue (c) profit (d) stock
8. 8.A small business selling painted pebbles had a revenue of ₹1750 and a profit of ₹270. What were its costs (in ₹)?
9. 9.A small business sells 19 potted plants at ₹40 each. Its costs are ₹70. What is its profit (in ₹)?
10. 10.Which of these is true of a sole trader? (a) owned by shareholders (b) a separate legal body (c) owner owes the debts (d) run by directors
11. 11.True or false: “owned by shareholders” is true of a company. (a) True (b) False
12. 12.A small business selling handmade cards had a revenue of ₹1770 and a profit of ₹1140. What were its costs (in ₹)?
13. 13.Which of these is true of a sole trader? (a) owner keeps all profit (b) a separate legal body (c) owners’ risk is limited (d) owned by shareholders
14. 14.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
15. 15.A small business selling handmade cards had a revenue of ₹1175 and a profit of ₹595. What were its costs (in ₹)?
16. 16.👤 A sole trader is… (a) a bank (b) a big company (c) a one-owner business (d) a school club
17. 17.True or false: “run by directors” is true of a sole trader. (a) True (b) False
18. 18.A small business selling clay diyas had a revenue of ₹230 and a profit of ₹210. What were its costs (in ₹)?
19. 19.A small business sells 21 painted pebbles at ₹35 each. What is its revenue (in ₹)?
20. 20.A small business sells 15 glasses of chai at ₹20 each. What is its revenue (in ₹)?
21. 21.True or false: “a separate legal body” is true of a sole trader. (a) True (b) False
22. 22.A small business sells 22 friendship bands at ₹5 each. What is its revenue (in ₹)?
23. 23.A small business sells 45 glasses of chai at ₹50 each. What is its revenue (in ₹)?
24. 24.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
25. 25.A small business sells 57 fruit cups at ₹40 each. Its costs are ₹880. What is its profit (in ₹)?
26. 26.A small business selling glasses of chai had a revenue of ₹675 and a profit of ₹665. What were its costs (in ₹)?
27. 27.True or false: “one owner runs it” is true of a sole trader. (a) True (b) False
28. 28.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
29. 29.📊 Revenue or profit: goes up if costs fall? (a) profit (b) revenue
30. 30.True or false: “run by directors” is true of a company. (a) True (b) False
31. 31.A small business selling jute bags had a revenue of ₹700 and a profit of ₹560. What were its costs (in ₹)?
32. 32.A small business sells 49 painted pebbles at ₹40 each. What is its revenue (in ₹)?
33. 33.A small business sells 28 painted pebbles at ₹40 each. What is its revenue (in ₹)?
34. 34.📜 Who should explain tax or legal rules for a business? (a) nobody (b) a classmate (c) a random video (d) an adult or an expert
35. 35.A small business sells 22 painted pebbles at ₹45 each. Its costs are ₹280. What is its profit (in ₹)?
36. 36.A small business selling bags of popcorn had a revenue of ₹1020 and a profit of ₹810. What were its costs (in ₹)?
37. 37.A small business sells 22 painted pebbles at ₹50 each. What is its revenue (in ₹)?
38. 38.🎂 Can a 14-year-old run a business on their own? (a) only at night (b) yes, no one needed (c) only with adult help (d) never ever
39. 39.Which of these is true of a company? (a) one owner runs it (b) owner keeps all profit (c) simplest to start (d) run by directors
40. 40.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader

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