Topic: English for Accounting 4

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 correct response for each of the sentences.

1. An accountant who reviews the accounting procedures of a company is called _________________.
  an auditor
  an audience
  a lawyer

2. Do you have any experience in using an _________________ costing system?
  activation-based
  activity-based
  actively-based

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

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

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

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

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

8. Our company's _____________________ year begins on May 1.
  frisky
  fiscal
  money-making

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

10. We really need to start keeping our business _________________ organized.
  transactions
  transitions
  translations


CHECK ANSWERS

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