English for Accounting 3

QUESTIONS:
(Choose the best response for each one)


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 at http://www.businessenglishsite.com/exercise_accounting3.html