Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 981 · 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.📜 Who should explain tax or legal rules for a business? (a) a random video (b) a classmate (c) nobody (d) an adult or an expert
2. 2.A small business sells 47 bags of popcorn at ₹45 each. What is its revenue (in ₹)?
3. 3.🏢 A company is owned by… (a) the government always (b) its suppliers (c) its shareholders (d) its customers
4. 4.🎂 Can a 14-year-old run a business on their own? (a) only at night (b) never ever (c) only with adult help (d) yes, no one needed
5. 5.A small business sells 34 fruit cups at ₹50 each. What is its revenue (in ₹)?
6. 6.A small business sells 11 handmade cards at ₹5 each. What is its revenue (in ₹)?
7. 7.📊 Revenue or profit: price × number sold? (a) revenue (b) profit
8. 8.A small business selling fruit cups had a revenue of ₹780 and a profit of ₹60. What were its costs (in ₹)?
9. 9.A small business sells 16 paper bookmarks at ₹50 each. What is its revenue (in ₹)?
10. 10.🏢 Sole trader or company: a separate legal body? (a) a sole trader (b) a company
11. 11.📊 Revenue or profit: goes up if costs fall? (a) profit (b) revenue
12. 12.Which of these is true of a company? (a) owner owes the debts (b) simplest to start (c) owner keeps all profit (d) a separate legal body
13. 13.👤 A sole trader is… (a) a bank (b) a school club (c) a big company (d) a one-owner business
14. 14.A small business sells 23 handmade cards at ₹45 each. What is its revenue (in ₹)?
15. 15.True or false: “run by directors” is true of a company. (a) True (b) False
16. 16.Which of these is true of a sole trader? (a) owner owes the debts (b) owners’ risk is limited (c) owned by shareholders (d) run by directors
17. 17.🏢 Sole trader or company: simplest to start? (a) a company (b) a sole trader
18. 18.True or false: “owners’ risk is limited” is true of a sole trader. (a) False (b) True
19. 19.🏢 Sole trader or company: owner keeps all profit? (a) a company (b) a sole trader
20. 20.True or false: “a separate legal body” is true of a sole trader. (a) True (b) False
21. 21.A small business sells 49 bags of popcorn at ₹5 each. What is its revenue (in ₹)?
22. 22.A small business sells 22 potted plants at ₹30 each. What is its revenue (in ₹)?
23. 23.Which of these is true of a sole trader? (a) run by directors (b) owners’ risk is limited (c) a separate legal body (d) simplest to start
24. 24.A small business sells 15 painted pebbles at ₹20 each. Its costs are ₹130. What is its profit (in ₹)?
25. 25.A small business selling fruit cups had a revenue of ₹825 and a profit of ₹55. What were its costs (in ₹)?
26. 26.A small business selling jute bags had a revenue of ₹2200 and a profit of ₹950. What were its costs (in ₹)?
27. 27.A small business sells 42 handmade cards at ₹10 each. Its costs are ₹360. What is its profit (in ₹)?
28. 28.True or false: “owner keeps all profit” is true of a sole trader. (a) False (b) True
29. 29.🏢 Sole trader or company: owners’ risk is limited? (a) a sole trader (b) a company
30. 30.A small business selling cups of lemonade had a revenue of ₹250 and a profit of ₹180. What were its costs (in ₹)?
31. 31.📊 Revenue or profit: left after all costs? (a) profit (b) revenue
32. 32.A small business selling cups of lemonade had a revenue of ₹900 and a profit of ₹180. What were its costs (in ₹)?
33. 33.A small business selling handmade cards had a revenue of ₹1710 and a profit of ₹1580. What were its costs (in ₹)?
34. 34.A small business sells 37 handmade cards at ₹50 each. Its costs are ₹870. What is its profit (in ₹)?
35. 35.Which of these is true of a sole trader? (a) owner keeps all profit (b) run by directors (c) a separate legal body (d) owners’ risk is limited
36. 36.A small business sells 40 jute bags at ₹25 each. Its costs are ₹330. What is its profit (in ₹)?
37. 37.A small business selling clay diyas had a revenue of ₹190 and a profit of ₹70. What were its costs (in ₹)?
38. 38.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
39. 39.A small business sells 12 jute bags at ₹35 each. What is its revenue (in ₹)?
40. 40.🏢 Sole trader or company: run by directors? (a) a sole trader (b) a company

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