PROFESSIONAL ENGLISH IDEPARTMENT OF

BUSINESS ADMINISTRATION

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QUESTIONS: (Choose the best response for each one)

1.A __________________________ is someone who buys and sells stock. 

  a) stockbroker  b) stock-seller  c) insurance broker

Finance: Jobs in finance

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stockbroker

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2. An insurance broker will help you find the best insurance __________________________ at the best price.

a) politics b) policy c) tax

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policy

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3. An tax consultant is someone who can __________________________ you on how to pay less tax.  

a) advise  b) advance  c) advocate

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advise

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4. A tax-__________________________ (or "IRS auditor" in the USA) is someone who makes sure that you're paying enough taxes.

a) official b) inspector c) broker

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inspector

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5. A company's finance _________________ (also known as a CFO) is usually that company's chief accountant.

a) official b) boss c) director

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director

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6. A bank _______________________ is a bank employee who deals directly with most customers.   

a) guardb) inspectorc)  teller/cashier

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teller/cashier

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7. A bank manager is the person responsible for a particular _______________________ of a bank.   

a) branch  b) building  c) inspection

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branch

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8. A financial advisor is someone who advises people on how to __________________________ their finances. ( = financial affairs)

  a) advise  b) manage  c) keep

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manage

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9. My __________________________ always prepares my tax return for me.

  a) trader  b) inspector  c) accountant

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accountant

10. A venture capitalist is basically _________________________.

a) an investor b) an accountant c) a manager

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an investor

1. A good business plan defines your business and ___________________ ( = describes/lists) your goals. 

a)  identifiesb)  indentsc)  idealizes

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Starting a business: Business Plans I

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identifies

2. A lot ___________________ ( = depends) upon how comprehensive your business plan is.

a) hinges b) haggles c) hassles

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hinges

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balance

4. Many new business owners rely on ___________________ ( = funding from other sources, not their own) to start and develop their business.

  a) outer funding  b) outside funding  c) other funds

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outside funding

5. How do you plan to get the financial ___________________ ( = money, etc.) to start your business? 

  a) recourse  b) recurrence  c) resources

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resources

6. A cash ___________________ analysis is an analysis of a company's financial "health". 

  a) flow  b) flowing  c) flood

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flow

7. You shouldn't ___________________ when it comes to drawing up a business plan. ( = You shouldn't take too long to finish it)

  a) drag your feet  b) drag your shoes  c) drag it along

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drag your feet

9. Your business' ___________________ refers to how easy (or difficult) it is to market/promote it. 

  a) market savvy  b) marketability  c) market watch

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marketability

10. Any bank will want to make sure your business has a good chance of being ___________________ before giving you a loan. 

  a) profit-oriented  b) profitable  c) profit-sharing

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profitable

1. There are ___________________ ( = a lot) of books that can teach you how to write an effective business plan.

a) scores b) number c) many

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Starting a business 2 : Business Plans

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scores

2. It helps to demonstrate a high level of ___________________ in your knowledge of all matters relating to your business. 

  a) sophistry  b) sophistication  c) intoxication

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sophistication

3. The "executive summary" is the name of the section which ___________________ ( = outlines) the main body of the business plan.

a) summarizes b) executes c) sums

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summarizes

4. If you carried out a market study to gather information relevant to your business, make sure you include the ___________________ of this study in your business plan.

a) finding b) findings c) found information

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findings

5. A more formal way of saying "To obtain outside funding" is "To ___________________.«

  a) get cash  b) request outside help  c) acquire external capital

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acquire external capital

6. You must ___________________ to the organization ( = let the organization know) why they should invest in your enterprise.

a) convince b) contest c) convey

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convey

7. Which one of these words is NOT a synonym for "business"?

a) capital b) enterprise c) venture

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capital

8. The language used in a business plan should be clear and ___________________. ( = easy to understand)

a) strong b) straightforward c) cumbersome

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straightforward

9. We should ___________________ a business planning consultant before drawing up a plan.

a) touch b) get in line with c) get in touch with

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get in touch with

10. This description is not ___________________.

a) detailed enough b) enough details c) enough detailed

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detailed enough

1. This ___________________ ( = number) is the estimate of sales for the first three years.

a) figure b) numeral c) fact

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figure

2. For certain types of businesses, a list of people who have already ___________________ an interest in buying your products should be included in the business plan.

a) said b) expressed c) exclaimed

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expressed

3. Here is a description of the market segments ( = groups of people/organizations) we will be ___________________. ( = focusing on)

a) trying b) searching c) targeting

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targeting

4. We plan to purchase 60% of the equipment, and ___________________ ( = rent) the other 40%.

a) lease b) take out c) take on

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lease

5. How do you plan to advertise your products? Do you have a detailed market ___________________ plan?

a) penitentiary b) pension c) penetration

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penetration

6. We have an issue with certain ___________________ ( = details/characteristic) of your sales strategy.

a) characters b) aspects c) flashbacks

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aspects

7. Did you include an analysis of ___________________ ( = similar) products available on the market today?

a) comparable b) compared c) common

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comparable

8. This is a detailed list of all the costs ___________________ with ( = relating to) the program.

  a) assorted  b) associated  c) aspirated

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associated

9. Do you have to obtain any legal ___________________ before the product can be introduced on the market?

a) law b) authorization c) acceptance

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authorization

10. An "organization chart" describes the ___________________ of the enterprise. ( = business)

a) building b) construction c) structure

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structure

1. I __________________________ our profits for the previous accounting period.

a) called b) gathered c) calculated

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English for Accounting

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calculated

2. Your job will be to __________________________ and maintain financial records.

a) promise b) prepare C) make

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prepare

3. An accounting period is a period of time over which __________________________ are calculated.

a) prophets b) profits c) profiteering

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profits

4. Accounts __________________________ refers to the money that is owed to the company by its clients/customers.

a) receivable b) receptive c) respected

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receivable

5. To accrue means to accumulate or _________________.

a) decrease b) regret c) increase

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increase

6. My house has _______________________ ( = increased in value) by 10% in the past 9 months.

a) appreciated b) depreciated c) approximated

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appreciated

7. I indicated all the accrued expenses on your balance _______________________. 

 a)  sheet b) paper c)  note

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sheet

8. These expenses are typically __________________________. ( = they occur regularly)

a) pragmatic b) prodigal c) periodic

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periodic

9. Another word for accounting is __________________________.

a) finance b) bookkeeping c) money counting

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bookkeeping

10. A good accountant will help you keep _________________________of your business's finances.

a) track b) trace c) score

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track

1. I have a lot of experience in collecting financial information necessary for __________________ various tax returns. 

  a) filing  b) calculating  c) forming

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English for Accounting 2 

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filing

2. I find it really hard to keep track of my __________________. ( = the money I spend)

a) expense b) expenses c) expertise

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expenses

3. You have nothing to worry about. Your (financial) __________________ accurately reflect your business's income and expenses.

a) profits b) profiteering c) records

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records

4. The IRS is a government organization responsible for _________________ taxes in the USA.

a) collecting b) receiving c) gathering

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collecting

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5. If the IRS __________________ you, they will want to inspect your financial records in detail.

a) accepts b) edits c) audits

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audits

6. You should always keep __________________ ( = proof of payments) or other acceptable records of every payment to your business and every expenditure by your business.

a) records b) receipts c) recipes

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receipts

7. An expenditure is basically a __________________.

   a) payment  b) bill  c) tax form

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payment

8. What do you do with forms?

  a) you fill them up  b) you fill them out  c) you fill them

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you fill them out

9. One of your duties will be to summarize the company's income and expenditure records on a monthly __________________. 

 a) base b) basis c) time

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basis

10. I can help you determine how much your business is worth at a specific __________________.

  a) time point  b) timeframe  c) point in time

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point in time

1. An accountant who reviews the accounting procedures of a company is called _________________.   

a) an auditor  b) an audience  c) a lawyer

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English for Accounting 4 

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an auditor

2. Do you have any experience in using an _________________ costing system?

 a) activation-based b) activity-based c) actively-based

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activity-based

Activity-based costing (ABC) is a special costing model that identifies activities in an organization and assigns the cost of each activity with resources to all products and services according to the actual consumption by each.

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3. A general _________________ in business says that 20% of the product line produces 80% of the sales.

  a) rule of thumb  b) famous rule  c) rule of thumbs

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A rule of thumb is a principle with broad application that is not intended to be strictly accurate or reliable for every situation.

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rule of thumb

4. The term "equity" refers to the owners' _____________________ of the business.

  a) partition  b) share  c) sharing

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share

5. An expenditure will not necessarily show up on the income _____________________ at the time the expenditure is made. 

  a) paper  b) check  c) statement

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statement

6. All expenditures _____________________ ( = in time) show up as expenses.

 a) immensely b) eventfully c) eventually

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eventually

7. Something is an "expense" if it is _____________________ against revenue during an accounting period.

  a) chargeable  b) charge  c) charging

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chargeable

8. Our company's _____________________ year begins on May 1st. 

  a) frisky  b) fiscal  c) money-making

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fiscal

9. Thanks to your hard work, we've seen some positive changes in sales _____________________. ( = we have started selling more)

  a) level  b) approach  c) volume

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volume

10. We really need to start keep our business _________________ organized.

 a) transactions b) transitions c) translations

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transactions

1. A statement of _________________ helps you keep track of your business's finances.

   a) cash flow  b) cash flowing  c) money flow

English for Accounting 5 

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cash flow

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2. Customers usually come here looking for _________________ advice.

a) financial b) finances c) finance

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financial

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3. This plan is economically _____________________ ( = profitable).

a) fast b) worthy c) feasible

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feasible

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4. "Liquid" assets often refer to _____________________.

  a) credit  b) cash  c) checks

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cash

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5. A flat-rate plan ______________________ marginal costs. 

  a) elaborates  b) takes  c) eliminates

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eliminates

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6. In accounting, a cost that does not _____________________ ( = change) with the level of production or sales is referred to as "overhead".

a) vary b) variable c) variety

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vary

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7. There are two types of profit: gross profit and _____________________.

  a) net profit  b) non-gross profit  c) netto profit

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net profit

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8. "Net profit after taxes" is what's called "the bottom line", - it's the _____________________ after everything has been subtracted. 

  a) netto income  b) gross income  c) net income

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net income

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9. An element of _____________________ is always present in all business activities.

  a) risky  b) risk  c) risque

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risk

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10. A _____________________ of an item in account books (because it no longer has any value) is what's known as a "write-off".

  a) cancel  b) cancellation  c) constellation

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cancellation

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1. The partners of the accounting firm gathered in Tampa for their _________________ meeting. 

  a) annual  b) annul  c) annually

English for Accounting 6 

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annual

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2. His last company owes millions in _________________ taxes.

  a) unpaid  b) paid  c) not paid

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unpaid

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3. Tax _________________ help wealthy investors hide millions of dollars in taxable income.

a) hideouts b) sheds c) shelters

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shelters

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4. Lawyers or accountants who work in the same firm are often referred to as _________________ , not "employees".

  a) buddies  b) partners  c) workers

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partners

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5. My accountant advised me that this approach would be much more _________________. ( = profitable)

a)rich b) lucid c) lucrative

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lucrative

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6. I would welcome an opportunity to analyze your company's __________________ ( = financial records) in detail

a) books b) bookkeeping c) booked

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books

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7. He's one of our __________________ clients = He hired us to do audits for his company.

a) audit b) audible c) odd

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audit

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8. CFO stands for "chief __________________ officer«

a) financially b) financed c) financial

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financial

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9. I'm not questioning your tax __________________ - I just think that this approach would not work for our company.

a) strategic b) strategy c) layout

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strategy

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10. Microsoft __________________ nearly 60% of its total United States revenues from software sales.

a) drives b) derives c) derides

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derives

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