FINANCIAL ENGLISH QUESTIONS - 2ND TERM

1. What is an intangible asset?

• A. An asset with physical nature

• B. An asset which does not have a physical nature

• C. An asset that is easily liquidated

• D. An asset that generates cash flow

2. What does shareholder's equity represent?

• A. The total legal obligations of a company

• B. The ordinary shares held by the owners

• C. The total assets of a company

• D. The total liabilities of a company

3. What is the purpose of tax specialists for companies?

• A. To prepare tax returns only

• B. To provide advice on taxation laws

• C. To manage company finances

• D. To conduct audits

The prudence principle is ...

• A. What value should be given to the numbers in the accounts? it is normal to act pessimistically so that profits and assets are not overstated, and expenses and liabilities realistically valued.

• B. The difference between the sales value and the dearest cost of producing an item.

• C. The idea that amounts should be recorded at the time they occurred not when cash is paid received.

• D. The end date of a contract.

Gearing is ...

• A. Buying or selling something.

• B. The proportion of own capital to borrowed funds when buying an asset or financing a company

• C. Money that is owed

• D. The opposite of assets

Lease is ...

• A. An agreement between two or more parties, often written.

• B. An agreement where the owner of something allows someone else to use it for a specific time for a sum money.

• C. Someone who owns parts of a company.

• D. Money that is owed.

The Statement of Financial Position in the US is called ...

• A. Statement of profit or loss

• B. Statement of Earnings

• C. Management Accounts

• D. Balance Sheet

2003

• A. two thousand three

• B. two double oh three

• C. two thousand and three

• D. twenty oh three

1999

• A. nineteen ninety-nine

• B. nineteen hundred ninety-nine

• C. nineteen nine nine

• D. one nine nine nine

10001

• A. one thousand and one

• B. ten thousand one

• C. ten thousand and one

• D. one triple oh one