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Accounts
The letters in the words on the right are in the wrong order. Rearrange them and put the word, with the letters in the correct order, into the gaps in the sentences. The first has been done for you and the first letter of each word is given.
1 Items which the business expects to keep for a year or more are its fixed... assets.
xidfe
2 Money used to operate a business on a day-to-day basis is its w..................capital.
girwokn
3 The account which describes the trading activities of a business over a (stated) period of time is the p...................and loss account.
tforpi
4 A statement produced, usually at the end of a financial year, showing the financial state of the business and including, among other things, its assets and liabilities, is its b................... sheet.
nablaec
5 When one company attempts to gain control of another, by buying a majority of its shares, it is making a t...................bid.
eotkrvea
6 The ledger containing creditors’ accounts is the b...................ledger.
thubog
7 To enter an item in a ledger is top...................it to that ledger.
stop
8 Ledgers are written up from entries in day b....................
sokob
9 A note which accompanies goods sent by a seller, to be signed by the person who receives the goods, is a d...................note.
riveleyd
10 A document showing what has been bought and for how much, and indicating that the goods are in transit, is an a...................note.
vaiecd
Audits-the year-end nightmare
Fill in the missing word(s) in each of the following sentences. Choose from the alternatives beneath each sentence. The first has been done for you.
1The Board of Directors is responsible for deciding on and controlling the strategy of a corporation or company.
a Workers b Directors c Control
2 Small businesses depend on investors providing...................capital.
a venture b individual c cooperative
3 Investors are influenced by the projected...................on their capital.
a market b return c rate
4 The capital needed to run a business is provided by....................
a gain b risk c investment
5 Rent and rates, which do not change as turnover volume changes, make up the...................costs of a company.
a fixed b contribution c variable
6 Materials and direct labour costs, which change as turnover volume changes, make up the...................costs of a company.
a fixed b contribution c variable
7 Every company must watch its...................carefully if it is to avoid bankruptcy.
a market managers b cash flow c production lines
8 The...................account shows whether the company is profitable or not.
a profit and loss b volume c shareholders
9 Banks require...................to guarantee a loan.
a accounts b shares c securities
10 Insurance companies may use...................to negotiate the amount of insurance to be paid.
11 The Stock Exchange deals with the purchase and sale of....................
a stocks and shares b bulls and bears c statements and invoices
12 An individual or a company buying a block of shares in another company to give itself a majority shareholding is making a....................
a management buyout b takeover bid c dawn raid
Finance 2
Part A
Choose from the words in the box to complete the definitions. The first has been done for you.
bookkeeping interest creditor company
profit current capital net
shares debtor dividend statement
1 Recording financial transaction is bookkeeping.
2 A legal organisation, formally registered in one of three ways, and ha' life independent of its members, is a....................
3 A person or organisation that owes money is a....................
4 A person or organisation to whom money is owed is a....................
5 The assets, including cash, debtors and stocks used in a company's trading, available at the present moment, are its...................assets.
6 The equal parts into which the ownership of a company is divided are its
7 The money paid to shareholders out of a company's profits is the....................
8 A company's turnover, less its cost of sales, is its gross....................
9 A company's turnover after the cost of sales, tax, rent and other liabilities are deducted is its...................profit.
10 The sum of money paid by a borrower to a lender for the use of the lender's money is the...................on the loan.
11 The document sent to the debtor by the creditor, showing how much is owed
and for what, is the...................of account.
12 The shareholders' investment in a company is the share....................
Part B
Nowfind the words in the word square. The words may read from left to right, from right to left, from top to bottom, from bottom to top, or diagonally. One example has been done to help you.
Source: Test your business English. General usage by J. S. McKellen
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