Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 989 · 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.A small business sells 47 jute bags at ₹30 each. What is its revenue (in ₹)?
3. 3.📊 Revenue or profit: goes up if costs fall? (a) revenue (b) profit
4. 4.🏢 Sole trader or company: owner keeps all profit? (a) a sole trader (b) a company
5. 5.A small business selling potted plants had a revenue of ₹2240 and a profit of ₹10. What were its costs (in ₹)?
6. 6.Which of these is true of a sole trader? (a) a separate legal body (b) run by directors (c) owned by shareholders (d) simplest to start
7. 7.👤 A sole trader is… (a) a one-owner business (b) a school club (c) a big company (d) a bank
8. 8.A small business sells 22 potted plants at ₹10 each. What is its revenue (in ₹)?
9. 9.A small business sells 38 jute bags at ₹30 each. What is its revenue (in ₹)?
10. 10.A small business selling handmade cards had a revenue of ₹440 and a profit of ₹180. What were its costs (in ₹)?
11. 11.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
12. 12.Which of these is true of a company? (a) owners’ risk is limited (b) one owner runs it (c) owner owes the debts (d) owner keeps all profit
13. 13.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
14. 14.True or false: “a separate legal body” is true of a company. (a) False (b) True
15. 15.A small business sells 51 glasses of chai at ₹40 each. Its costs are ₹860. What is its profit (in ₹)?
16. 16.A small business sells 26 potted plants at ₹50 each. What is its revenue (in ₹)?
17. 17.📊 Revenue or profit: all money from sales? (a) revenue (b) profit
18. 18.🏢 Sole trader or company: owners’ risk is limited? (a) a company (b) a sole trader
19. 19.🏢 Sole trader or company: simplest to start? (a) a company (b) a sole trader
20. 20.A small business sells 50 cupcakes at ₹30 each. Its costs are ₹340. What is its profit (in ₹)?
21. 21.🏢 Sole trader or company: one owner runs it? (a) a company (b) a sole trader
22. 22.A small business sells 39 paper bookmarks at ₹10 each. What is its revenue (in ₹)?
23. 23.A small business sells 13 paper bookmarks at ₹15 each. Its costs are ₹130. What is its profit (in ₹)?
24. 24.📊 Revenue or profit: revenue minus costs? (a) profit (b) revenue
25. 25.Which of these is true of a sole trader? (a) owners’ risk is limited (b) run by directors (c) owned by shareholders (d) owner keeps all profit
26. 26.True or false: “owned by shareholders” is true of a sole trader. (a) False (b) True
27. 27.📊 Revenue or profit: money in before costs? (a) revenue (b) profit
28. 28.🎂 Can a 14-year-old run a business on their own? (a) yes, no one needed (b) only at night (c) never ever (d) only with adult help
29. 29.A small business sells 28 bags of popcorn at ₹15 each. What is its revenue (in ₹)?
30. 30.A small business selling painted pebbles had a revenue of ₹500 and a profit of ₹200. What were its costs (in ₹)?
31. 31.📜 Who should explain tax or legal rules for a business? (a) a random video (b) nobody (c) a classmate (d) an adult or an expert
32. 32.A small business sells 58 paper bookmarks at ₹5 each. Its costs are ₹270. What is its profit (in ₹)?
33. 33.Which of these is true of a sole trader? (a) owners’ risk is limited (b) a separate legal body (c) run by directors (d) owner owes the debts
34. 34.Which of these is true of a sole trader? (a) run by directors (b) owners’ risk is limited (c) one owner runs it (d) a separate legal body
35. 35.True or false: “owners’ risk is limited” is true of a sole trader. (a) True (b) False
36. 36.A small business selling cupcakes had a revenue of ₹945 and a profit of ₹475. What were its costs (in ₹)?
37. 37.True or false: “owners’ risk is limited” is true of a company. (a) False (b) True
38. 38.Which of these is true of a company? (a) a separate legal body (b) one owner runs it (c) owner keeps all profit (d) simplest to start
39. 39.A small business selling bags of popcorn had a revenue of ₹580 and a profit of ₹340. What were its costs (in ₹)?
40. 40.📊 Revenue minus costs equals… (a) stock (b) profit (c) price (d) revenue

Free entrepreneurship lessons, practice and worksheets at talentjr.in/entrepreneurship-for-kids