Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 985 · 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: owned by shareholders? (a) a sole trader (b) a company
2. 2.🏢 Sole trader or company: owner owes the debts? (a) a company (b) a sole trader
3. 3.👤 A sole trader is… (a) a bank (b) a one-owner business (c) a school club (d) a big company
4. 4.A small business sells 55 handmade cards at ₹20 each. What is its revenue (in ₹)?
5. 5.A small business selling cups of lemonade had a revenue of ₹475 and a profit of ₹225. What were its costs (in ₹)?
6. 6.Which of these is true of a company? (a) owner owes the debts (b) owned by shareholders (c) one owner runs it (d) simplest to start
7. 7.📜 Who should explain tax or legal rules for a business? (a) an adult or an expert (b) nobody (c) a classmate (d) a random video
8. 8.A small business sells 43 bags of popcorn at ₹5 each. Its costs are ₹140. What is its profit (in ₹)?
9. 9.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
10. 10.A small business sells 34 clay diyas at ₹20 each. What is its revenue (in ₹)?
11. 11.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
12. 12.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
13. 13.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
14. 14.🎂 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
15. 15.🏢 Sole trader or company: run by directors? (a) a sole trader (b) a company
16. 16.A small business sells 41 fruit cups at ₹5 each. What is its revenue (in ₹)?
17. 17.True or false: “a separate legal body” is true of a sole trader. (a) True (b) False
18. 18.True or false: “run by directors” is true of a company. (a) False (b) True
19. 19.True or false: “owned by shareholders” is true of a company. (a) False (b) True
20. 20.🏢 A company is owned by… (a) its customers (b) the government always (c) its shareholders (d) its suppliers
21. 21.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
22. 22.Which of these is true of a sole trader? (a) a separate legal body (b) run by directors (c) simplest to start (d) owned by shareholders
23. 23.🏢 Sole trader or company: owner keeps all profit? (a) a sole trader (b) a company
24. 24.A small business sells 14 bags of popcorn at ₹30 each. Its costs are ₹40. What is its profit (in ₹)?
25. 25.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
26. 26.Which of these is true of a company? (a) owner keeps all profit (b) owner owes the debts (c) a separate legal body (d) one owner runs it
27. 27.A small business sells 53 bags of popcorn at ₹45 each. Its costs are ₹1870. What is its profit (in ₹)?
28. 28.Which of these is true of a company? (a) owner owes the debts (b) owner keeps all profit (c) simplest to start (d) owners’ risk is limited
29. 29.A small business sells 25 potted plants at ₹5 each. Its costs are ₹40. What is its profit (in ₹)?
30. 30.A small business selling cupcakes had a revenue of ₹950 and a profit of ₹590. What were its costs (in ₹)?
31. 31.Which of these is true of a sole trader? (a) owned by shareholders (b) one owner runs it (c) run by directors (d) owners’ risk is limited
32. 32.Which of these is true of a company? (a) simplest to start (b) owner owes the debts (c) one owner runs it (d) run by directors
33. 33.A small business selling jute bags had a revenue of ₹1855 and a profit of ₹985. What were its costs (in ₹)?
34. 34.A small business sells 28 paper bookmarks at ₹50 each. What is its revenue (in ₹)?
35. 35.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
36. 36.A small business selling handmade cards had a revenue of ₹150 and a profit of ₹60. What were its costs (in ₹)?
37. 37.📊 Revenue or profit: money in before costs? (a) profit (b) revenue
38. 38.A small business sells 42 jute bags at ₹45 each. Its costs are ₹1120. What is its profit (in ₹)?
39. 39.A small business sells 19 paper bookmarks at ₹50 each. What is its revenue (in ₹)?
40. 40.A small business sells 60 paper bookmarks at ₹15 each. What is its revenue (in ₹)?

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