Topic: English for Accounting 3

An exercise to help you learn & practice accounting, bookkeeping, and other vocabulary for financial record keeping, while polishing your grammar skills. Although it's meant for ESL students, it'll be useful to anyone who wants to practice this specialized vocabulary.

Choose the best response to complete each of the sentences below.

1. In economics, a transfer _________________ is a non-compensatory government payment to individuals (such as welfare or social security benefits).
  pay
  payment
  paycheck

2. Things of value owned by a business are known as its _________________.
  assertions
  assessment
  assets

3. What's the opposite of an asset?
  Cash
  A liability
  A liaison

4. Some think that the _________________ of many companies are overstated due to deceptive accounting practices.
  earnings
  money
  earning

5. Every company should have a clear record of their _________________ assets.
  fixed
  fix
  fixture

6. Is "book _________________" the same as "net worth"?
  evaluation
  validation
  value

7. Not only has the company __________________ a lot of capital, but it has done so efficiently.
  invested
  invest
  to invest

8. The breakeven point in sales dollars can be calculated by _________________ a company's fixed expenses by the company's contribution margin ratio.
  dividing
  devising
  demising

9. Our company's _________________ ( = not fixed) expenses are approximately $45,000 per month.
  various
  variable
  veritable

10. By forming a corporation, you can _________________ to only those assets owned by your corporation.
  check your liability
  stop your liability
  limit your liability


CHECK ANSWERS

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