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PROFESSIONAL ENGLISH I

DEPARTMENT OF BUSINESS ADMINISTRATION

Finance: Jobs in finance


QUESTIONS: (Choose the best response for each one) 1. A __________________________ is someone who buys and sells stock. a) stockbroker b) stock-seller c) insurance broker
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stockbroker

2. An insurance broker will help you find the best insurance __________________________ at the best price. a) politics b) policy c) tax

policy

3. An tax consultant is someone who can __________________________ you on how to pay less tax. a) advise b) advance c) advocate

advise

4. A tax-__________________________ (or "IRS auditor" in the USA) is someone who makes sure that you're paying enough taxes. a) official b) inspector c) broker

inspector

5. A company's finance _________________ (also known as a CFO) is usually that company's chief accountant. a) official b) boss c) director

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director

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6. A bank _______________________ is a bank employee who deals directly with most customers. a) guard b) inspector c) teller/cashier

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teller/cashier

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7. A bank manager is the person responsible for a particular _______________________ of a bank. a) branch b) building c) inspection

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branch

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8. A financial advisor is someone who advises people on how to __________________________ their finances. ( = financial affairs) a) advise b) manage c) keep

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manage

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9. My __________________________ always prepares my tax return for me. a) trader b) inspector c) accountant

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accountant

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10. A venture capitalist is basically _________________________. a) an investor b) an accountant c) a manager

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an investor

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Starting a business: Business Plans I

1. A good business plan defines your business and ___________________ ( = describes/lists) your goals. a) identifies b) indents c) idealizes

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identifies

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2. A lot ___________________ ( = depends) upon how comprehensive your business plan is. a) hinges b) haggles c) hassles

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hinges

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balance

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4. Many new business owners rely on ___________________ ( = funding from other sources, not their own) to start and develop their business. a) outer funding b) outside funding c) other funds
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outside funding

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5. How do you plan to get the financial ___________________ ( = money, etc.) to start your business? a) recourse b) recurrence c) resources

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resources

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6. A cash ___________________ analysis is an analysis of a company's financial "health". a) flow b) flowing c) flood

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flow

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7. You shouldn't ___________________ when it comes to drawing up a business plan. ( = You shouldn't take too long to finish it) a) drag your feet b) drag your shoes c) drag it along
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drag your feet

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9. Your business' ___________________ refers to how easy (or difficult) it is to market/promote it. a) market savvy b) marketability c) market watch

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marketability

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10. Any bank will want to make sure your business has a good chance of being ___________________ before giving you a loan. a) profit-oriented b) profitable c) profit-sharing

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profitable

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Starting a business 2 : Business Plans

1. There are ___________________ ( = a lot) of books that can teach you how to write an effective business plan. a) scores b) number c) many

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scores

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2. It helps to demonstrate a high level of ___________________ in your knowledge of all matters relating to your business. a) sophistry b) sophistication c) intoxication

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sophistication

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3. The "executive summary" is the name of the section which ___________________ ( = outlines) the main body of the business plan. a) summarizes b) executes c) sums

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summarizes

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4. If you carried out a market study to gather information relevant to your business, make sure you include the ___________________ of this study in your business plan. a) finding b) findings c) found information
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findings

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5. A more formal way of saying "To obtain outside funding" is "To ___________________. a) get cash b) request outside help c) acquire external capital

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acquire external capital

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6. You must ___________________ to the organization ( = let the organization know) why they should invest in your enterprise. a) convince b) contest c) convey

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convey

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7. Which one of these words is NOT a synonym for "business"? a) capital b) enterprise c) venture

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capital

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8. The language used in a business plan should be clear and ___________________. ( = easy to understand) a) strong b) straightforward c) cumbersome

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straightforward

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9. We should ___________________ a business planning consultant before drawing up a plan. a) touch b) get in line with c) get in touch with
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get in touch with

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10. This description is not ___________________. a) detailed enough b) enough details c) enough detailed

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detailed enough

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Starting a business : Business Plans 3

1. This ___________________ ( = number) is the estimate of sales for the first three years. a) figure b) numeral c) fact

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figure

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2. For certain types of businesses, a list of people who have already ___________________ an interest in buying your products should be included in the business plan. a) said b) expressed c) exclaimed
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expressed

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3. Here is a description of the market segments ( = groups of people/organizations) we will be ___________________. ( = focusing on) a) trying b) searching c) targeting
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targeting

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4. We plan to purchase 60% of the equipment, and ___________________ ( = rent) the other 40%. a) lease b) take out c) take on

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lease

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5. How do you plan to advertise your products? Do you have a detailed market ___________________ plan? a) penitentiary b) pension c) penetration

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penetration

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6. We have an issue with certain ___________________ ( = details/characteristic) of your sales strategy. a) characters b) aspects c) flashbacks
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aspects

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7. Did you include an analysis of ___________________ ( = similar) products available on the market today? a) comparable b) compared c) common

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comparable

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8. This is a detailed list of all the costs ___________________ with ( = relating to) the program. a) assorted b) associated c) aspirated
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associated

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9. Do you have to obtain any legal ___________________ before the product can be introduced on the market? a) law b) authorization c) acceptance

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authorization

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10. An "organization chart" describes the ___________________ of the enterprise. ( = business) a) building b) construction c) structure

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structure

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English for Accounting


1. I __________________________ our profits for the previous accounting period. a) called b) gathered c) calculated

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calculated

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2. Your job will be to __________________________ and maintain financial records. a) promise b) prepare C) make

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prepare

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3. An accounting period is a period of time over which __________________________ are calculated. a) prophets b) profits c) profiteering

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profits

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4. Accounts __________________________ refers to the money that is owed to the company by its clients/customers. a) receivable b) receptive c) respected

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receivable

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5. To accrue means to accumulate or _________________. a) decrease b) regret c) increase

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increase

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6. My house has _______________________ ( = increased in value) by 10% in the past 9 months. a) appreciated b) depreciated c) approximated

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appreciated

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7. I indicated all the accrued expenses on your balance _______________________. a) sheet b) paper c) note

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sheet

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8. These expenses are typically __________________________. ( = they occur regularly) a) pragmatic b) prodigal c) periodic

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periodic

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9. Another word for accounting is __________________________. a) finance b) bookkeeping c) money counting

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bookkeeping

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10. A good accountant will help you keep _________________________of your business's finances. a) track b) trace c) score

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track

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English for Accounting 2


1. I have a lot of experience in collecting financial information necessary for __________________ various tax returns. a) filing b) calculating c) forming

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filing

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2. I find it really hard to keep track of my __________________. ( = the money I spend) a) expense b) expenses c) expertise

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expenses

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3. You have nothing to worry about. Your (financial) __________________ accurately reflect your business's income and expenses. a) profits b) profiteering c) records

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records

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4. The IRS is a government organization responsible for _________________ taxes in the USA. a) collecting b) receiving c) gathering
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collecting

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5. If the IRS __________________ you, they will want to inspect your financial records in detail. a) accepts b) edits c) audits

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audits

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6. You should always keep __________________ ( = proof of payments) or other acceptable records of every payment to your business and every expenditure by your business. a) records b) receipts c) recipes
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receipts

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7. An expenditure is basically a __________________.

a) payment b) bill c) tax form

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payment

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8. What do you do with forms? a) you fill them up b) you fill them out c) you fill them

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you fill them out

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9. One of your duties will be to summarize the company's income and expenditure records on a monthly __________________. a) base b) basis c) time

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basis

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10. I can help you determine how much your business is worth at a specific __________________. a) time point b) timeframe c) point in time

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point in time

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English for Accounting 4


1. An accountant who reviews the accounting procedures of a company is called _________________. a) an auditor b) an audience c) a lawyer

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an auditor

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2. Do you have any experience in using an _________________ costing system? a) activation-based b) activity-based c) actively-based

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activity-based

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Activity-based costing (ABC) is a special costing model that identifies activities in an organization and assigns the cost of each activity with resources to all products and services according to the actual consumption by each.

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3. A general _________________ in business says that 20% of the product line produces 80% of the sales. a) rule of thumb b) famous rule c) rule of thumbs

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rule of thumb
A rule of thumb is a principle with broad application that is not intended to be strictly accurate or reliable for every situation.

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4. The term "equity" refers to the owners' _____________________ of the business. a) partition b) share c) sharing

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share

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5. An expenditure will not necessarily show up on the income _____________________ at the time the expenditure is made. a) paper b) check c) statement

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statement

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6. All expenditures _____________________ ( = in time) show up as expenses. a) immensely b) eventfully c) eventually

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eventually

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7. Something is an "expense" if it is _____________________ against revenue during an accounting period. a) chargeable b) charge c) charging
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chargeable

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8. Our company's _____________________ year begins on May 1st. a) frisky b) fiscal c) money-making

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fiscal

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9. Thanks to your hard work, we've seen some positive changes in sales _____________________. ( = we have started selling more) a) level b) approach c) volume

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volume

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10. We really need to start keep our business _________________ organized. a) transactions b) transitions c) translations

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transactions

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English for Accounting 5


1. A statement of _________________ helps you keep track of your business's finances. a) cash flow b) cash flowing c) money flow

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cash flow

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2. Customers usually come here looking for _________________ advice. a) financial b) finances c) finance

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financial

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3. This plan is economically _____________________ ( = profitable). a) fast b) worthy c) feasible

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feasible

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4. "Liquid" assets often refer to _____________________. a) credit b) cash c) checks

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cash

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5. A flat-rate plan ______________________ marginal costs. a) elaborates b) takes c) eliminates

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eliminates

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6. In accounting, a cost that does not _____________________ ( = change) with the level of production or sales is referred to as "overhead". a) vary b) variable c) variety

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vary

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7. There are two types of profit: gross profit and _____________________. a) net profit b) non-gross profit c) netto profit

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net profit

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8. "Net profit after taxes" is what's called "the bottom line", - it's the _____________________ after everything has been subtracted. a) netto income b) gross income c) net income
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net income

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9. An element of _____________________ is always present in all business activities. a) risky b) risk c) risque

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risk

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10. A _____________________ of an item in account books (because it no longer has any value) is what's known as a "write-off". a) cancel b) cancellation c) constellation

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cancellation

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English for Accounting 6


1. The partners of the accounting firm gathered in Tampa for their _________________ meeting. a) annual b) annul c) annually

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annual

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2. His last company owes millions in _________________ taxes. a) unpaid b) paid c) not paid

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unpaid

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3. Tax _________________ help wealthy investors hide millions of dollars in taxable income. a) hideouts b) sheds c) shelters

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shelters

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4. Lawyers or accountants who work in the same firm are often referred to as _________________ , not "employees". a) buddies b) partners c) workers

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partners

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5. My accountant advised me that this approach would be much more _________________. ( = profitable) a)rich b) lucid c) lucrative

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lucrative

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6. I would welcome an opportunity to analyze your company's __________________ ( = financial records) in detail a) books b) bookkeeping c) booked

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books

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7. He's one of our __________________ clients = He hired us to do audits for his company. a) audit b) audible c) odd

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audit

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8. CFO stands for "chief __________________ officer a) financially b) financed c) financial

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financial

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9. I'm not questioning your tax __________________ I just think that this approach would not work for our company. a) strategic b) strategy c) layout

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strategy

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10. Microsoft __________________ nearly 60% of its total United States revenues from software sales. a) drives b) derives c) derides
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derives

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