Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 995 · 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.🎂 Can a 14-year-old run a business on their own? (a) only with adult help (b) yes, no one needed (c) only at night (d) never ever
2. 2.A small business sells 58 handmade cards at ₹50 each. Its costs are ₹1760. What is its profit (in ₹)?
3. 3.🏢 Sole trader or company: owner owes the debts? (a) a sole trader (b) a company
4. 4.A small business sells 25 fruit cups at ₹15 each. Its costs are ₹310. What is its profit (in ₹)?
5. 5.🏢 Sole trader or company: simplest to start? (a) a company (b) a sole trader
6. 6.📊 Revenue or profit: money in before costs? (a) profit (b) revenue
7. 7.A small business sells 29 painted pebbles at ₹10 each. What is its revenue (in ₹)?
8. 8.🏢 Sole trader or company: run by directors? (a) a sole trader (b) a company
9. 9.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
10. 10.A small business sells 44 jute bags at ₹5 each. What is its revenue (in ₹)?
11. 11.True or false: “one owner runs it” is true of a sole trader. (a) True (b) False
12. 12.👤 A sole trader is… (a) a big company (b) a bank (c) a school club (d) a one-owner business
13. 13.📊 Revenue or profit: left after all costs? (a) revenue (b) profit
14. 14.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 owes the debts
15. 15.Which of these is true of a sole trader? (a) owner keeps all profit (b) run by directors (c) owned by shareholders (d) a separate legal body
16. 16.A small business sells 22 bags of popcorn at ₹20 each. What is its revenue (in ₹)?
17. 17.A small business sells 38 cups of lemonade at ₹40 each. What is its revenue (in ₹)?
18. 18.Which of these is true of a company? (a) owned by shareholders (b) owner keeps all profit (c) one owner runs it (d) simplest to start
19. 19.📜 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
20. 20.A small business sells 23 clay diyas at ₹15 each. Its costs are ₹90. What is its profit (in ₹)?
21. 21.True or false: “owner keeps all profit” is true of a company. (a) False (b) True
22. 22.A small business selling friendship bands had a revenue of ₹345 and a profit of ₹305. What were its costs (in ₹)?
23. 23.True or false: “owners’ risk is limited” is true of a sole trader. (a) False (b) True
24. 24.Which of these is true of a company? (a) owner owes the debts (b) one owner runs it (c) owner keeps all profit (d) owners’ risk is limited
25. 25.🏢 Sole trader or company: owners’ risk is limited? (a) a sole trader (b) a company
26. 26.A small business sells 59 glasses of chai at ₹30 each. What is its revenue (in ₹)?
27. 27.Which of these is true of a sole trader? (a) owned by shareholders (b) a separate legal body (c) simplest to start (d) run by directors
28. 28.📊 Revenue minus costs equals… (a) revenue (b) profit (c) stock (d) price
29. 29.Which of these is true of a company? (a) owner owes the debts (b) run by directors (c) simplest to start (d) one owner runs it
30. 30.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
31. 31.A small business sells 56 friendship bands at ₹40 each. Its costs are ₹1380. What is its profit (in ₹)?
32. 32.A small business sells 42 painted pebbles at ₹15 each. What is its revenue (in ₹)?
33. 33.Which of these is true of a sole trader? (a) run by directors (b) a separate legal body (c) owned by shareholders (d) one owner runs it
34. 34.A small business sells 37 potted plants at ₹40 each. What is its revenue (in ₹)?
35. 35.A small business selling glasses of chai had a revenue of ₹990 and a profit of ₹780. What were its costs (in ₹)?
36. 36.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
37. 37.A small business selling cupcakes had a revenue of ₹1960 and a profit of ₹440. What were its costs (in ₹)?
38. 38.True or false: “one owner runs it” is true of a company. (a) False (b) True
39. 39.A small business sells 21 glasses of chai at ₹45 each. Its costs are ₹570. What is its profit (in ₹)?
40. 40.True or false: “owned by shareholders” is true of a company. (a) True (b) False

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