MINDSET 2 UNIT5 LISTENING - VOCAB BUSINESS

A _________ refers to a person's chosen occupation or field of work.

A) Profession

B) Corporation tax

C) Regulation

• A

• B

• C

When individuals earn income, they are required to pay _________.

A) Legal registration B) Debt C) Income tax

• A

• B

• C

_________ represent ownership in a company and can be bought or sold.

A) Contract B) Shares C) Regulation

• A

• B

• C

Individuals must file an _________ with the tax authorities each year, reporting their income and expenses.

A) Debt

B) Annual tax return

C) Legal registration

• A

• B

• C

When starting a business, it is important to complete the process of _________ to ensure its legal recognition.

A) Submit financial account

B) Legal registration

C) Profession

• A

• B

• C

To operate within the legal framework, companies must _________ with the relevant authorities.

A) Legally register the company

B) Annual tax return

C) Profit

• A

• B

• C

The difference between revenue and expenses is referred to as _________.

A) Debt

B) Profit

C) Regulation

• A

• B

• C

Businesses need to _________ to provide a record of their financial activities.

A) Contract

B) Submit financial account

C) Shares

• A

• B

• C

________ is a type of tax paid by companies on their profits.

A) Income tax B) Corporation tax C) Shares

• A

• B

• C

A _________ is a legally binding agreement between two or more people/organizations.

A) Profession

B) Contract

C) Corporation tax

• A

• B

• C