English for Accounting 4

QUESTIONS:
(Choose the best response for each one)


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 1st.
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 keep our business _________________ organized.
transactions
transitions
translations

Check answers at http://www.businessenglishsite.com/exercise_accounting4.html