Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 956 · 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 22 fruit cups at ₹25 each. Its costs are ₹350. What is its profit (in ₹)?
2. 2.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
3. 3.A small business sells 46 handmade cards at ₹15 each. What is its revenue (in ₹)?
4. 4.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
5. 5.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
6. 6.🏢 A company is owned by… (a) the government always (b) its suppliers (c) its customers (d) its shareholders
7. 7.📊 Revenue or profit: money in before costs? (a) revenue (b) profit
8. 8.A small business sells 51 painted pebbles at ₹25 each. Its costs are ₹490. What is its profit (in ₹)?
9. 9.📊 Revenue or profit: price × number sold? (a) revenue (b) profit
10. 10.Which of these is true of a sole trader? (a) owned by shareholders (b) owners’ risk is limited (c) run by directors (d) simplest to start
11. 11.A small business selling handmade cards had a revenue of ₹805 and a profit of ₹45. What were its costs (in ₹)?
12. 12.🏢 Sole trader or company: owners’ risk is limited? (a) a sole trader (b) a company
13. 13.A small business selling fruit cups had a revenue of ₹1020 and a profit of ₹220. What were its costs (in ₹)?
14. 14.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
15. 15.True or false: “a separate legal body” is true of a sole trader. (a) True (b) False
16. 16.📊 Revenue minus costs equals… (a) price (b) revenue (c) stock (d) profit
17. 17.A small business sells 25 clay diyas at ₹40 each. What is its revenue (in ₹)?
18. 18.True or false: “owned by shareholders” is true of a company. (a) False (b) True
19. 19.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
20. 20.🏢 Sole trader or company: simplest to start? (a) a sole trader (b) a company
21. 21.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
22. 22.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
23. 23.True or false: “owners’ risk is limited” is true of a sole trader. (a) False (b) True
24. 24.A small business sells 51 cups of lemonade at ₹50 each. What is its revenue (in ₹)?
25. 25.🏢 Sole trader or company: owner keeps all profit? (a) a sole trader (b) a company
26. 26.Which of these is true of a company? (a) simplest to start (b) one owner runs it (c) owned by shareholders (d) owner keeps all profit
27. 27.A small business sells 32 handmade cards at ₹25 each. What is its revenue (in ₹)?
28. 28.Which of these is true of a sole trader? (a) owned by shareholders (b) run by directors (c) a separate legal body (d) one owner runs it
29. 29.True or false: “simplest to start” is true of a sole trader. (a) True (b) False
30. 30.True or false: “simplest to start” is true of a company. (a) True (b) False
31. 31.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
32. 32.A small business selling glasses of chai had a revenue of ₹2400 and a profit of ₹350. What were its costs (in ₹)?
33. 33.A small business selling glasses of chai had a revenue of ₹90 and a profit of ₹20. What were its costs (in ₹)?
34. 34.A small business sells 55 cups of lemonade at ₹5 each. What is its revenue (in ₹)?
35. 35.A small business selling potted plants had a revenue of ₹540 and a profit of ₹200. What were its costs (in ₹)?
36. 36.True or false: “owner owes the debts” is true of a company. (a) True (b) False
37. 37.📜 Who should explain tax or legal rules for a business? (a) nobody (b) a random video (c) an adult or an expert (d) a classmate
38. 38.Which of these is true of a sole trader? (a) a separate legal body (b) owned by shareholders (c) owner owes the debts (d) run by directors
39. 39.A small business sells 35 clay diyas at ₹15 each. What is its revenue (in ₹)?
40. 40.A small business sells 58 painted pebbles at ₹30 each. What is its revenue (in ₹)?

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