Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 964 · 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: owner owes the debts? (a) a sole trader (b) a company
2. 2.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
3. 3.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
4. 4.A small business sells 22 potted plants at ₹40 each. What is its revenue (in ₹)?
5. 5.📜 Who should explain tax or legal rules for a business? (a) an adult or an expert (b) a classmate (c) a random video (d) nobody
6. 6.True or false: “owned by shareholders” is true of a sole trader. (a) False (b) True
7. 7.🎂 Can a 14-year-old run a business on their own? (a) never ever (b) only at night (c) yes, no one needed (d) only with adult help
8. 8.🏢 Sole trader or company: owners’ risk is limited? (a) a sole trader (b) a company
9. 9.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
10. 10.Which of these is true of a sole trader? (a) owners’ risk is limited (b) owned by shareholders (c) a separate legal body (d) one owner runs it
11. 11.A small business sells 16 fruit cups at ₹40 each. What is its revenue (in ₹)?
12. 12.A small business sells 48 potted plants at ₹25 each. What is its revenue (in ₹)?
13. 13.A small business sells 16 fruit cups at ₹20 each. What is its revenue (in ₹)?
14. 14.A small business sells 34 potted plants at ₹40 each. Its costs are ₹760. What is its profit (in ₹)?
15. 15.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
16. 16.A small business selling clay diyas had a revenue of ₹945 and a profit of ₹575. What were its costs (in ₹)?
17. 17.A small business sells 10 jute bags at ₹10 each. What is its revenue (in ₹)?
18. 18.A small business sells 23 paper bookmarks at ₹15 each. What is its revenue (in ₹)?
19. 19.A small business selling paper bookmarks had a revenue of ₹1475 and a profit of ₹935. What were its costs (in ₹)?
20. 20.🏢 A company is owned by… (a) its shareholders (b) the government always (c) its suppliers (d) its customers
21. 21.A small business sells 59 cups of lemonade at ₹10 each. Its costs are ₹140. What is its profit (in ₹)?
22. 22.A small business sells 20 cups of lemonade at ₹15 each. Its costs are ₹140. What is its profit (in ₹)?
23. 23.A small business sells 18 cupcakes at ₹20 each. Its costs are ₹100. What is its profit (in ₹)?
24. 24.📊 Revenue or profit: goes up if costs fall? (a) profit (b) revenue
25. 25.True or false: “simplest to start” is true of a company. (a) False (b) True
26. 26.📊 Revenue or profit: money in before costs? (a) revenue (b) profit
27. 27.Which of these is true of a sole trader? (a) run by directors (b) a separate legal body (c) owners’ risk is limited (d) owner keeps all profit
28. 28.🏢 Sole trader or company: simplest to start? (a) a company (b) a sole trader
29. 29.👤 A sole trader is… (a) a big company (b) a bank (c) a school club (d) a one-owner business
30. 30.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
31. 31.A small business sells 52 fruit cups at ₹5 each. Its costs are ₹220. What is its profit (in ₹)?
32. 32.🏢 Sole trader or company: run by directors? (a) a company (b) a sole trader
33. 33.A small business selling glasses of chai had a revenue of ₹220 and a profit of ₹10. What were its costs (in ₹)?
34. 34.True or false: “one owner runs it” is true of a company. (a) False (b) True
35. 35.A small business sells 16 cups of lemonade at ₹50 each. What is its revenue (in ₹)?
36. 36.A small business sells 16 fruit cups at ₹45 each. What is its revenue (in ₹)?
37. 37.A small business selling handmade cards had a revenue of ₹50 and a profit of ₹40. What were its costs (in ₹)?
38. 38.True or false: “owners’ risk is limited” is true of a sole trader. (a) False (b) True
39. 39.Which of these is true of a sole trader? (a) owner owes the debts (b) owned by shareholders (c) run by directors (d) owners’ risk is limited
40. 40.True or false: “owner owes the debts” is true of a company. (a) True (b) False

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