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Business English Training l ACCOUNTING: General vocabulary practice 4
Choose the correct response to complete each of the following sentences:
1. An accountant who reviews the accounting procedures of a company is called _________________.
a) an auditor b) an audience c) a lawyer
2. Do you have any experience in using an _________________ costing system?
a) activation-based b) activity-based c) actively-based
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
4. The term "equity" refers to the owners' _____________________ of the business.
a) partition b) share c) sharing
5. An expenditure will not necessarily show up on the income _____________________ at the time
the expenditure is made.
a) paper b) check c) statement
6. All expenditures _____________________ ( = in time) show up as expenses.
a) immensely b) eventfully c) eventually
7. Something is an "expense" if it is _____________________ against revenue during an accounting
period.
a) chargeable b) charge c) charging
8. Our company's _____________________ year begins on May 1st.
a) frisky b) fiscal c) money-making
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
10. We really need to start keep our business _________________ organized.
a) transactions b) transitions c) translations
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Business English Training l ACCOUNTING: General vocabulary practice 4
ANSWERS:
1) a 2) b 3) a 4) b 5) c 6) c 7) a 8) b 9) c 10) a