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Exercise 3. Now complete the following, using the expressions of the above exercise
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1. Auditors are supposed to make sure that companies follow their stated …
2. Companies can choose from a variety of …, but they are not allowed to change them very often.
3. Lots of money obtained in illegal ways is deposited in … in Swiss banks.
4. The basic … is Assets= Liabilities + Owner’s Equity.
5. The … is one of the three basic financial statements.
6. … consist of money that is expected to be received. The contrary, … consist of money that is owed to other people.
7. The role … is to provide figures and statements that will aid decision-making.
Exercise 4. What is the meaning of the phrases in bold in the sentences (1-10) below? Choose the correct definition from the list (a-j) on the right.
| 1. How do you account for the sudden fall in the stock value? 2. Agents buy and sell goods on their own account. 3. They gave the solicitor a detailed account of the customer’s business deals in the last year. 4. The draft accounts had to be adjusted on account of the discovery that a major debtor had gone bankrupt. 5. Raw materials account for 30% of the manufacturing cost. 6. They are regular customers in this shop and are now able to buy on account. 7. On no account should these figures he released before the board meeting. 8. When making decisions for the future the managers have to take this year’s poor performance into account. 9. By all accounts, they will benefit greatly if the deal goes through. 10. The advertising company has won two new accounts in South Africa. | a) people say b) report c) under no circumstances d) consider e) explain f) big customers g) for themselves h) because of i) on credit j) represent |
Exercise 3. Complete the following words. (See example):
| 1. This company has supplied goods but has not received any money for them yet. 2. Companies make this when they sell their goods for more than it costs them to make them. 3. Companies make this when they sell their goods for less than it costs them to make them. 4. Customers who have received goods but not paid for them yet. 5. This is the name of the difference between the credit and debit side of an account. 6. This is drawn up to check that the two sides of the accounts are the same. 7. This is the name for buildings, machinery, money in the bank and money owed by customers. 8. Money which is borrowed. 9. The total sum of money which is supplied by the owners of the company to set it up. 10. These are bought by people wishing to invest in the company. 11. An official examination of the accounts. 12. A statement of the financial position of the company. | CREDITOR P….T L….S D….RS B….C. T…L B…… A….S L… C…T.. S….S A…T B…..E S…T |
Дата публикования: 2015-04-07; Прочитано: 792 | Нарушение авторского права страницы | Мы поможем в написании вашей работы!
