NAME AND SURNAME.................................................................... DATE....................................

BUSINESS ENGLISH
TEST

1. Match the definitions on te left with the letter of the term on the right
*To buy and sell in the hope that the value of what you buy will increase 1. STOCK BROKER
and that it can then be sold at a higher price in order to make a profit....... 2. SPECULATION
*The speed with which money whizzes around the economy, or the 3. DEBT CONSOLIDATION
number of times it changes hands. ....... 4. CORPORATION TAX
*Tax paid by businesses on their profits....... 5. TAX RELIEF
*An act of giving capital to a company in danger of failing in an attempt 6. ACCOUNTS RECEIVABLE
to save it from bankruptcy, insolvency, or total liquidation and ruin....... 7. VELOCITY OF CIRCULATION
*Creditor's accounts of money owed to him; from the sale of products or services,etc....... 8. INVOICE
*The process of taking out a loan that pays off 2 or more loans.It often comes with 9. INJUNCTION
a lower monthly payment or interest rate than the previous loans,and a longer repayment period......10. BAILOUT
*An official order given by a court of law to stop someone from doing something........
*An itemized statement of money owed for goods shipped or services provided........
*The system of allowing someone not to pay tax on a part of their income. .........
*A regulated professional person who buys and sells shares and other securities
through market makers or Agency Only Firms on behalf of investors. .........

2. Write the word which fits the definition

a) Illegally avoiding paying taxes, failing to report, or reporting inaccurately. The government imposes strict and
serious penalties for this. .................... ............................ .
b) A substantial drop in the value of a currency, relative to the price of gold or the currencies of other
countries. ..................................
c) A legal order that takes property to satisfy a person's debt. For example, a court may order that an employer
withhold a portion of an employee's wages in order to satisfy a creditor's claim. ......................
d) A periodic report prepared by a bank for each client. ..................... ........................... .
e) An assessment of the risk (likelihood debt will be repaid on time) associated with providing credit to an
individual, corporation or other public or private entity, which is used to determine wheter or not to extend a
credit, is called a .................... ......................... .
f) I need to .................... a ........................ (pay money in my bank account).
g) An authorization to sell a company's goods or services in a particular place is called a ................
h) The original amount of a debt on which interest is calculated is called a .............................
i) I need to .................... a .......................... in the bank (take an amount of money out of my bank account).
j) If the company cannot be saved it goes into .......................... .

3. What do these acronyms (abbreviations) stand for?

a) Co. ............................................................ f) IPO ....................................................
b) CEO ......................................................... g) GDP ...................................................
c) EGM ........................................................ h) LTD ....................................................
d) BoP .......................................................... i) A/C ....................................................
e) Plc ........................................................... j) Inc. ....................................................

4. Define the following words (expressions)

a) Creative accounting ................................................................
b) Collateral ................................................................................
c) To defer a payment .................................................................
d) Trade deficit ...........................................................................
e) Perjury ....................................................................................
f) Payroll ....................................................................................
 g) Insolvent ................................................................................
h) Petty crime .............................................................................
i) Shareholder ............................................................................
j) Teller .....................................................................................

5. Choose the correct answer

a) It's usually safe to invest in a ....................................
Poison pill company blue chip company blue pill company
b) "David found a job easily - his Dad just .....................................!"
Pulled a few strings took strings pulled s few connections
c) "Let's ............................ by calling on our first speaker."
Kick the ball run the ball start the ball running
d) Can the US government .................. the economy ................?
Turn round turn over turn around
e) The airline ......................... me for the amount they had overcharged me.
Disbursed reimbursed charged
f) The merger proved to be very .......................... (profitable) for both companies
Locrative lucrative expensive
g) A check which a bank returns because it is not payable due to insufficient funds is called a..
Rubber check unpayable check bounced check
h) Can we ....................making a decision until next week
Call off bring forward defer
i) Many wheat farmers have begun to ..................... into other forms of agriculture.
Divide go diversify
j) Cigarettes and beverages are subject to ..............................
Sale customs taxation.

6. Match the letters in the box with the definitions

WHITE KNIGHT, WITHOLDING TAX (n), VARIABLE RATE LOAN, TAX SHELTER, TAX RATE, REAL ESTATE,
RECESSION, PAYROLL ACCOUNTING, JOINT ACCOUNT, DEBT RESTRUCTURING, DELINQUENT TAX,
DEPRECIATION, CURRENT ASSETS, BALANCE OF TRADE, EXCHANGE RATE
a) A bank account shared by two or more individuals. .................................
b) A loan plan where the interest charged, over the life of the loan, may vary (change) beyond the control of the
lender. .................................
c) The difference in value between the total exports and total imports of a nation during a specific period of time.
.................................
d) A financial arrangement, that reduces taxes on current earnings. .................................
e) A decrease or loss in value, as because of age, wear, or market conditions. .................................
f) Income tax deducted from employees' wages and paid directly to the government by the employer ...............
g) The rate at which a business or person is taxed on income. .................................
h) An extended decline in general business activity, typically two consecutive quarters of falling real gross
national product. .................................
i) A method used by companies with outstanding debt obligations to alter the terms of the debt agreements in
order to achieve some advantage. .................................
j) In business, it is a "friendly investor" who may be a corporation, a private company, or a person that intends to
help another firm. .................................
k) Cash or assets convertible into cash at short notice. .................................
l) The price of one country's currency expressed in another country's currency. In other words, the rate at which
one currency can be exchanged for another. .................................
m) Tax that is unpaid or remains unpaid as of or after the payment due date. .................................
n) the accounting that is done in order to calculate the salaries. The amount of income each employee earns,
called gross income, is totaled, and taxes and other deductions are subtracted. .............................
o) Land, including all the natural resources and permanent buildings on it. .................................