English for Accounting

___________ is an agreement between two or more parties, often written.

• Gearing

• Contract

• Transaction

• Lease

Cash at Bank is _________

• Asset

• Owners' Equity

• Revenue

• Expense

The cost of the supplies used in running an office is ________ .

• office supplies

• withdrawals

• revenue

• dividends

Which of the following answers is NOT a job in accounting?

• Accountant

• Auditor

• Tax accountant

• Tax evasion

………… are those which are paid off within one year.

• Current assets

• Current liabilities

• Non-current assets

• Non-current liabilities

What does “tax avoidance” mean?

• Trying not to pay tax (legal)

• Trying not to pay tax (illegal)

• To make the tax go up

• Tells you what amount of tax to pay based on income

Payment for the use of someone else's property.

• Income tax

• Revenue

• Dividend

• Rent

She is a student, so she is a tax …………

• exile

• bracket

• exempt

• tax evasion

He earns a lot of money – he must be in the highest tax …………

• evasion

• exile

• bracket

• exempt

How to say this number: £54.60?

• Fifty-four pounds and sixty pence

• Fifty-four pounds and sixteen pence

• Fifty-four pound and six pence

• Fifty-four pound and sixty pence