1. 1. They decided to based the new company …. York. a. On b. in c. at d. from 2. Several football clubs are now quoted ….the Stock Exchange. a. On b. for c. under d. over 3. We had a fall ….our net profit. a. off b. of c. in d. out 4. We only increase sales ….lowering the price of main product. a. of b. on c. for d. by 5. We must report ….details on how much profit each product makes. a. for b. in c. about d. to 6. Our profit ….is decreasing. a. Margin b. account c. inventory d. stock 01102. 7. We’ve been … re ally good business in the Philippines since we ope ned o ur office in Manila a. doing b. making c. having d. a b 8. The problems in the Middle East have made it really difficult to…next year’s turnover a. expect b. predict c. having d. a b 9. Working … is the money used in the normal running of a company a. capital b. enterprise c. firm d. report 10. The business needs to… enough profit to pay for operating and financial costs a. create b. build up c. produce d. generate 11. The sales manager… the target for the next six months a. Set b. stated c. gave d. submitted 12. The financial statement of a company are the most important … that a company produces. a. Reports b. documents3. c. assets d. expense 13. Your business card should have your contact. a. Information b. report c. announcement d. figures 14. …: the profit of a business after deduction of expense. a. Gross profit b. Net profit c. assets d. expense 15. The … of the photographic studio was expensive a. Equip b. Equipped c. Equipping d. equipment 16. The company is set for considerable …. a. Expansion b. Expand c. Expanding d. To expand 17. The low profit’s we’re had over the last two quarters are due to the bad… a. Economics b. Economize c. Economic d. Economy 18. This applies particular to … costs. a. Produce b. Product c. Production4. d. producer 19. In the… plan he decided to increase the sales of their secondary products. a. Finance b. Financed c. Financial d. Financially 20. We have decided to close our London office … there is decline our Europe an activities. a. Because b. Despite c. Although d. While 21. It is difficult to do business in that country …you find a partner. a. If b. Unless c. Where d. In which 22. The manager wanted to know … a. How much has their turnover rise b. That how much their turnover has risen c. How much their turnover had risen d. How much their turnover has risen 23. Our profits … if we increased our sales. a. Increase b. Increased c. Will increase d. Would increase 24. ...competitive market conditions, he got a good price. a. Although b. In spite c. Despite of5. d. In spite of 25. ….the recession our sales to Eastern Europe increased. a. Because of b. Due to c. Despite d. when 26. It’ll be pretty bad especially if our overheads go up and our overall sales margin falls. a. Decrease b. Rise c. Reduce d. improve 27. Are you interested in high capital growth or a high level of income? a. Large form b. Sum of money c. City d. business 28. This reduced his gross margin on other product by 2 per cent to 29 per cent. a. Operating expense b. Net profit c. Gross profit d. Gross value. 29. Our return on capital is now well below the minimum set by Head Office. a. Money received as result on an investment b. Money that is owned c. An asset which has been bought. d. Money paid out to shareholders 30. Profit had fallen and this worried him. a. Gone up b. Risen c. Dropped d. Deduced6. Passage: In all business, owner’s main role is to provide (31)…for business. The rewar d (32) …the owner receives for providing the business with c apital is (33)…. Where the capital is pro vide d as shares, for (34)…, in private and public limited companies, the part of the profit given to shareholders is called dividend. In private limited companies the (35)…are likely to maintain close control of the business (36)… most private limited companies are f amily concerns. In (37)…limited companies, owners or shareholders have the right to (38) …the annual gener al meeting. This is a meeting held once a year at which the senior managers report (39)…the position of the company and its future prospects. Shareholders are allowed to vote on any (40)…taken at the meeting. 31. Chose the best answer a. Turnover b. Capital c. Income d. Expense 32. Chose the best answer a. Which b. When c. Where d. Who 33. Chose the best answer a. Loss b. Sales c. Profit d. Share 34. Chose the best answer a. Distance b. Ability c. Obligation7. d. Example 35. Chose the best answer a. Managers b. Chairmen c. Owners d. Shareholders 36. Chose the best answer a. When b. Because of c. In view of d. as 37. Chose the best answer a. Private b. Public c. Corporate d. Joint 38. Chose the best answer a. Attend b. Appoint c. Intend d. Appear 39. Chose the best answer a. About b. For c. On d. At 40. Chose the best answer a. Decide b. Decision c. Decsive d. Decisiveness8. 41. …. is a company owned by another company. a. A Subsidiary b. An individual c. An agent d. A parent company. 42. Total value of sales in one period of time. (turnover) 43. A company that sells shares in itself to the public. (A public limited company) 44. A place where shares in companies are bought and sold. (Stock Exchange) 45. Income of a business after deduction of all operating expense, costs of sales and tax. (Net profit) 46. A company whose investors cannot lose money than the money they have invested in and in which anyone may invest. (A public limited company). 47. Period of economic downturn. (Recession). 48. It is a public limited company. (Whose shares are listed on the Stock Exchange). 49. Proteus is an electrical engineering company. a. Based in Birmingham b. Which is based in Birmignham c. Both A and B 50. The sales had risen. a. Despite the recession b. In spite of the recession c. A b are correct. 51. Ford moto company report a drop a. In quarterly profit. 52. You can work out your current. a. By adding short term loans to taxes payables. 53. Unfortunately, there is a decrease. a. In 2% by profit b. By 2% in profit c. To 2 % by profit d. Of 2% in profit 0810 2210 Ko co TN 29109. 54. This reduced his gross margin. a. From 2% b. By 2% to 29% 55. These was an actual fall. a. In net profit b. Of net profit c. Below net profit d. Under net profit 56. There has been strong completion. a. Instead, the new company has made great profits. b. None the less, the new company has made great profit. c. Then, the new company has made great profit. d. Despite, the new company has made great profit. 57. Because of the growing demand for our product. a. We make plans to increase production. b. We had made plans to increase production. c. We made plans to increase production. d. We are making to increase production. 58. Accounting systems are always important. a. So that they are concerned with the management of financial resources. b. Therefore they are concerned with the management of financial resources. c. But, they are concerned with the management of financial resources d. Because they are concerned with the management of financial resources 59. There are several a. Subsidiaries of Proteus in other countries b. Sales of Proteus in other countries. c. Profits of Proteus in other countries d. Cost of Proteus in other countries 60. The new treaty establishes a free trade zone. a. Set off b. Set up10. c. Succeed in d. Depend on 61. The Group Export Manager is an official of the company. a. Who is in charge of export of all the companies in the group. b. In which is in charge of export of all the companies in the group. c. Where is in charge of export of all the companies in the group. d. Both c b 62. I managed to find a solution. a. About the problem b. Of the problem c. To the problem d. In the problem 63. It’s all part of an overall a. Strategy to gain promotion. b. Strategic to gain promotion. c. Strategical to gain promotion. d. Strategically to gain promotion. 64. Our main aim is to increase sales in Europe. a. Design b. Objective c.
01/10 They decided to based the new company … York a On b in c at d from Several football clubs are now quoted ….the Stock Exchange a On b for c under d over We had a fall ….our net profit a off b of c in d out We only increase sales ….lowering the price of main product a of b on c for d by We must report ….details on how much profit each product makes a for b in c about d to Our profit ….is decreasing a Margin b account c inventory d stock We’ve been … really good business in the Philippines since we opened our office in Manila a doing b making c having d a &b The problems in the Middle East have made it really difficult to…next year’s turnover a expect b predict c having d a &b Working … is the money used in the normal running of a company a capital b enterprise c firm d report 10 The business needs to… enough profit to pay for operating and financial costs a create b build up c produce d generate 11 The sales manager… the target for the next six months a Set b stated c gave d submitted 12 The financial statement of a company are the most important … that a company 13 14 15 16 17 18 produces a Reports b documents c assets d expense Your business card should have your contact a Information b report c announcement d figures …: the profit of a business after deduction of expense a Gross profit b Net profit c assets d expense The … of the photographic studio was expensive a Equip b Equipped c Equipping d equipment The company is set for considerable … a Expansion b Expand c Expanding d To expand The low profit’s we’re had over the last two quarters are due to the bad… a Economics b Economize c Economic d Economy This applies particular to … costs a Produce b Product c Production d producer 19 In the… plan he decided to increase the sales of their secondary products a Finance b Financed c Financial d Financially 20 We have decided to close our London office … there is decline our European 21 22 23 24 25 26 27 activities a Because b Despite c Although d While It is difficult to business in that country …you find a partner a If b Unless c Where d In which The manager wanted to know … a How much has their turnover rise b That how much their turnover has risen c How much their turnover had risen d How much their turnover has risen Our profits … if we increased our sales a Increase b Increased c Will increase d Would increase competitive market conditions, he got a good price a Although b In spite c Despite of d In spite of ….the recession our sales to Eastern Europe increased a Because of b Due to c Despite d when It’ll be pretty bad especially if our overheads go up and our overall sales margin falls a Decrease b Rise c Reduce d improve Are you interested in high capital growth or a high level of income? Large form Sum of money City business 28 This reduced his gross margin on other product by per cent to 29 per cent a Operating expense b Net profit c Gross profit d Gross value 29 Our return on capital is now well below the minimum set by Head Office a Money received as result on an investment b Money that is owned c An asset which has been bought d Money paid out to shareholders 30 Profit had fallen and this worried him a Gone up b Risen c Dropped d Deduced a b c d Passage: In all business, owner’s main role is to provide (31)…for business The reward (32) …the owner receives for providing the business with capital is (33)… Where the capital is provided as shares, for (34)…, in private and public limited companies, the part of the profit given to shareholders is called dividend In private limited companies the (35)…are likely to maintain close control of the business (36)… most private limited companies are family concerns In (37)…limited companies, owners or shareholders have the right to (38) …the annual general meeting This is a meeting held once a year at which the senior managers report (39)…the position of the company and its future prospects Shareholders are allowed to vote on any (40)…taken at the meeting 31 Chose a b c d 32 Chose a b the best answer Turnover Capital Income Expense the best answer Which When c Where d Who 33 Chose the best answer a Loss b Sales c Profit d Share 34 Chose the best answer a Distance b Ability c Obligation d Example 35 Chose the best answer a Managers b Chairmen c Owners d Shareholders 36 Chose the best answer a When b Because of c In view of d as 37 Chose the best answer a Private b Public c Corporate d Joint 38 Chose the best answer a Attend b Appoint c Intend d Appear 39 Chose the best answer a About b For c On d At 40 Chose the best answer a Decide b Decision c Decsive d Decisiveness 41 … is a company owned by another company a A Subsidiary b An individual c An agent d A parent company 08/10 42 43 44 45 Total value of sales in one period of time (turnover) A company that sells shares in itself to the public (A public limited company) A place where shares in companies are bought and sold (Stock Exchange) Income of a business after deduction of all operating expense, costs of sales and tax (Net profit) 46 A company whose investors cannot lose money than the money they have invested in 22/10 Ko co TN 47 48 49 50 51 29/10 52 53 54 55 56 57 and in which anyone may invest (A public limited company) Period of economic downturn (Recession) It is a public limited company (Whose shares are listed on the Stock Exchange) Proteus is an electrical engineering company a Based in Birmingham b Which is based in Birmignham c Both A and B The sales had risen a Despite the recession b In spite of the recession c A & b are correct Ford moto company report a drop a In quarterly profit You can work out your current a By adding short term loans to taxes & payables Unfortunately, there is a decrease a In 2% by profit b By 2% in profit c To % by profit d Of 2% in profit This reduced his gross margin a From 2% b By 2% to 29% These was an actual fall a In net profit b Of net profit c Below net profit d Under net profit There has been strong completion a Instead, the new company has made great profits b None the less, the new company has made great profit c Then, the new company has made great profit d Despite, the new company has made great profit Because of the growing demand for our product a We make plans to increase production b We had made plans to increase production c We made plans to increase production d We are making to increase production 19/11 58 Accounting systems are always important a So that they are concerned with the management of financial resources b Therefore they are concerned with the management of financial resources c But, they are concerned with the management of financial resources d Because they are concerned with the management of financial resources 59 There are several a Subsidiaries of Proteus in other countries b Sales of Proteus in other countries c Profits of Proteus in other countries d Cost of Proteus in other countries 60 The new treaty establishes a free trade zone a Set off b Set up c Succeed in d Depend on 61 The Group Export Manager is an official of the company a Who is in charge of export of all the companies in the group b In which is in charge of export of all the companies in the group c Where is in charge of export of all the companies in the group d Both c & b 62 I managed to find a solution a About the problem b Of the problem c To the problem d In the problem 63 It’s all part of an overall a Strategy to gain promotion b Strategic to gain promotion c Strategical to gain promotion d Strategically to gain promotion 64 Our main aim is to increase sales in Europe a Design b Objective c Choice d action 65 Substantial members of people support the reforms a Big b Sole c Important d Great 66 Although this gained a bigger market share a It reduced profits b It went down profits c It fell profits d All are correct 67 It has been decided That a distributor is appointed in VN That a distributor should be appointed in VN A distributor to appointed in VN Both b & c The Protocap Energy Saver is a A strategically important product b A product strategically important c An important strategically product d A product important strategically They decided the plans a Be implemented by early 2014 b Should be implemented by early 2014 c Should implement by early 2014 d Be implemented by early 2014 We need to indentify a The product which are losing money b The product losing money c Both a & b are correct d Neither a nor b is correct A company set up parties from different countries with equal interest a Subsidiary company b Joint venture c Exclusive company d Public company Establishing a market in Manara should be a A permanent objective for the future b A standing order for the future c A long-term aim for the future d A policy for the future It will be necessary to set up a salescompany a If we want to b If we get where we want c If we arrive at this target d If we achieve these aims We are doing our best to find a The solution to the problem b The answer to the problem c The escape from the problem d The way out from the problem It’s all part of an overall strategy to gain promotion a Objective b Plan of action c Formulation of action d Permanence a b c d 68 69 70 71 72 73 74 75 76 The value of raw material components, spare port, finished product, work in progress 77 78 79 80 81 26/11 82 83 84 and fuel at the beginning of an accounting period a Opening inventory b Beginning inventory c Neither a nor b d Either a or b It is difficult to make long term a Forecast for a fast-growing industry b Preditions for a fast-growing industry c Neither a nor b d Either a or b They were selling everything a At a discount b At reduced prices c At price reduction d All are correct The shareholder are looking for a good return a For their capital b To their capital c On their capital d By their capital The scheme a Was approved by the Ministry of Finance b Will be approved by the Ministry of Finance c Has been approved by the Ministry of Finance d All are correct They decided to a Revise the costing system b Look over the costing system c Examine the costing system d Review the costing system Management accountants prepare information a Which managers use to make decisions b Which use to make decision c Either a or b d Neither a nor b The boss said a I should work harder b I was to work harder c Neither a nor b d Either a or b They decided to export because of a Domestic strong competition b Strong domestic competition c Domestic strength competition d Strong competition in domestic 29/11 85 The problem in the Middle East have made a Is really difficult to predict next year’s turnover b It is really difficult to predict next year’s turnover c Either a or b d Neither a nor b 86 The report concluded that a Protues should set up a joint venture subsidiary in contral Europe b Pretues was to set up a joint venture subsidiary in contral Europe c Both a and b are correct d Both a and b are incorrect 87 Before exporting to a country or even visiting it Prorues will carry out a As much desk research as possible b As much marketing targets as possible c As much financial target as possible d As much product development as possible 88 We should have a meeting a In order to solving problems b In view of solving problems c With a view to solving problems d For the purpose of solving problems 89 He asked them a To report back in two weeks times b To let him know in two weeks times c To advise in two week’s times d To review in two week’s times 90 The company is being actively considered as a potential partner a Deseribed b Though about c Carried out d Set up 91 The chairman and I look forward a To receive a detailed plan b To receiving a detailed plan c Receiving a detailed plan d Receive a detailed plan 92 Fortunately this is not a serious problems at present a Because your net profit is so low b However your net profit is so low c And your net profit is so low d But your net profit is so low 93 However we are worried about the dangerous financial position of Protues Manara because of the large fall in net profit a Concern b Affect c Deterioration d devaluation 94 They though it better to borrow a From local currencies b In local currencies c By local currencies d With local currencies 95 With so much money tied up in their inventory, the company was suffering from a A shortage of budget b A shortage of local currency c A shortage of foreign exchange d A shortage of working capital 96 We ought to discuss these matters a In the chief accountant b For the chief accountant c With chief accountant d About chief accountant 97 If the product had been adapted to local tastes and preferences a Sales will increase dramatically b Sales increase dramatically c Sales might increase dramatically d Sales would increase dramatically 98 They money that is needed to run a business rather than the money that is used to buy buildings and equipment when starting the business a Return on capital b Working capital c Dividends capital d Return on equity 99 The company close down a Because of the recession b In view of the recession c Either a or b d Neither a nor b 100 What rate will I get if it convert my Dollars in to Euros? a Change b Offset c Overcome d Forecast 101 You will be to … and maintain financial records a Promise b Prepare c Make d predict 102 Another word for accounting is… a Finance b Auditing c Money counting d Bookkeeping 103 I have a lot of experience in collecting finance information necessary for … various tax returns a Working out b Calculating c Filing d forming 104 I find it really hard to keep track of my… a Expense b Expenses c Expertise d Expertness 105 You have nothing to worry about Your financial … accurately reflect your business’s income and expenses a Profits b Profiteering c Records d Situation 106 The IRS is a government organization responsible for … taxes in the USA a Reducing b Receiving c Gathering d collecting 107 You should always keep… or other acceptable records of every payment to your business and every expenditure by your business a Records b Receipts c Recipes d Assets 108 Thing of a value owned by a business are known as its … a Assertions b A liability c A liaison d Receivable 109 Some think that the …of many companies are overstate due to deceptive accounting practices a Earnings b Money c Earning d Currencies 110 Not only has the company… a lot of capital, but it has done so efficiently a Invested b Invest c To invest d invests An accountant who reviews the accounting procedures of a company is called 111 … a b c d 112 a b c d 113 a b c d 114 a b c d 115 a b c d 116 An auditor An audience A lawyer A editor The term “equity” refers to the owner’s …of the business Partition Share Sharing Part A statement of … help you keep track of your business’s finance Currency Cash flowing Money flow Cash flow Customers usually come here looking for… advice Financial Finances Finance financed There are two types of profit: gross profit and … Net profit Non- gross profit Net to profit Current profit 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 d preservation 117 The crucial question facing the Proteus Manara Board is how to… their proposed expansion a Persuade b Increase c Disclose d finance 118 According to the balance sheet, we have very small liabilities a Statement of Earnings b Statement of Financial Position c Profit and Loss Statement d Financial Statement 119 a b c d 120 a b c d 121 a b c d 122 The EU has issued a new set of directive on pollution Directions Terms Complains Rules Benefit is calculated on the basis of average weekly earnings Estimated Found out Discovered Worked out Have you discussed on the problem with anyone? Response Talked about Though about Referred to Not many people agree with the government’s prediction that the economy will improve a Plan b Estimate c Forecast d guess 123 Turnover should be cut despite … a Healthy sales b Current liabilities c Creditor d Debtor 124 He hoped that a change of policy would … profit a Raise b Increase c Go up d A &B 125 ….is the difference between selling price and cost of manufacture, minus factory overheads a Interest rate b Turnover c Gross margin d Earnings 126 They were worried about the company … production costs had risen sharply a That b Which c Whose d Who 127 My friend eventually decided to quit her job, …upset me a lot a b c d 128 a b c d 129 a b c d That Which Whose Who The financial … show the profit and loss account Statements Statement State States Can you show me the room … new product are placed in? Where Which Whose At where [...]... advice Financial Finances Finance financed There are two types of profit: gross profit and … Net profit Non- gross profit Net to profit Current profit 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 d preservation 117 The crucial question facing the Proteus Manara Board is how to… their proposed expansion ... main role is to provide (3 1) for business The reward (3 2) …the owner receives for providing the business with capital is (3 3) Where the capital is provided as shares, for (3 4) , in private and public... the (3 5) are likely to maintain close control of the business (3 6) most private limited companies are family concerns In (3 7) limited companies, owners or shareholders have the right to (3 8) …the... one period of time (turnover) A company that sells shares in itself to the public (A public limited company) A place where shares in companies are bought and sold (Stock Exchange) Income of a business