Task 7. Match up these words with the definitions below

assets

depreciation

liabilities

turnover

creditors (GB) or accounts payable (US)

debtors (GB) or accounts receivable (US)

overheads (GB) or overhead (US)

revenue or earnings or income

shareholders (GB) or stockholders (US)

stock (GB) or inventory (US)

1) a company's owners

2) all the money received by a company during a given period

3) all the money that a company will have to pay to someone else in the future, including taxes, debts, and interest and mortgage payments

4) the amount of business done by a company over a year

5) anything owned by a business (cash investments, buildings, machines, and so on) that can be used to produce goods or pay liabilities

6) the reduction in value of a fixed asset during the years it is in use(charged against profits)

7) sums of money owed by customers for goods or services purchased on credit

8) sums of money owed to suppliers for purchases made on credit

9) (the value of) raw materials, work in progress, and finished products stored ready for sale

10) the various expenses of operating a business that cannot be charged to any one product, process or department

Task 8. Use the words from Task 7 in gaps to complete the text.

Read and translate the text. Use a dictionary if necessary.