Compiled by: Fazli Rrezja, English Language Teacher at Secondary Vocational School (Economy-Law) ’H.K. Prishtina”
ENGLISH LANGUAGE TEST FOR FINANCE / ECONOMY
- Choose the words from
the box and complete the definition (20 points)
appreciate current
assets fixed assets revalue wear out
obsolete
misconduct
gross profit net profit turn over depreciation valuation
measurement internal audit external
audit profit and loss account operations
investing
financing health insurance
- __________ is to decrease rather than increase in value.
- __________ are assets that will no longer be in the company in 12 months’ time.
- __________ are assets that will remain in the company for several years.
- __________ is to record something at a different price.
- __________ is to become used and damaged.
- _________ is something out of date, needing to be replaced by something newer.
- _________ is behavior that breaks the law
- __________ is sales revenue minus the cost of sales, before deduction for administration expenses, interest, charges, etc.
- _________ is sales revenue minus the cost of making and selling the goods, and deductions for administration expenses, interest charges, etc.
- __________ is total amount of money a company receives from selling goods or services
- ___________ is reducing the value of assets in the company’s accounts.
- ___________ is deciding how much something is worth.
- ___________ is deciding how big something is.
- ___________ is an examination of a company’s accounts by it own auditors.
- ___________ is an examination of a company’s systems of internal control
- ___________ is a financial statement which shows the difference between revenues and expenses of a period.
- _____________ is day-top-day activities
- _____________ is buying or selling property, plant and equipment.
- _____________ is issuing or repaying debt, or issuing shares.
- ______________ is financial protection against medical expenses for sickness or accidental injuries.
2. Choose the correct word
and complete the sentence (5 points)
1. Details of a company’s liabilities
are shown on the _______________
(Balance sheet, Debt, Expenses).
2. To calculate a new value for
appreciating fixed assets is ____________
(to revalue, appreciation, wear out)
3. To depreciate fixed assets, we
deduct part of their _______ from
profits each year.
(costs, record, profits)
4. Two sides of balance sheet
always have the same ___________.
(total, liability, raw material)
5. Brand names , trade
marks, patents , costumers and
qualified staff are ____________ ( Intangible
assets, tangible assets, fixed assets)
3. Find out and complete the job titles (5 points)
Bookkeepers accountants internal auditors
external auditors management accountants
1. People who prepare company’s
day-to-day accounts.___________________
2. People who prepare financial
statements.____________________
3. Company employees who check
the financial statements.____________________
4. Expert accountants working for
independent firms who review company’s financial statements and accounting
records.______________________
5. People who analyses the sales
figures from the different department and make decision about future activities. ______________________
.
4.
Translate these sentences into Albanian language (10 points)
- Operations mean making money by selling goods and services.
____________________________________________________________________
- Investing is spending cash, for the business future growth, including cash acquired by selling assets.
_________________________________________________________________
_________________________________________________________________
- Financing involves raising money by issuing stocks and bonds and also paying dividends and interest and repaying bonds.
__________________________________________________________________
___________________________________________________________________
- A healthy cash flow means that amount of cash provided by operations is greater than the cash used for investing.
____________________________________________________________________
____________________________________________________________________
- Financial ratios express the relationships between two or more items on financial statements.
_____________________________________________________________________
5. Put
the words in correct order to make a sentence (5 points).
1.
reports / company’s
annual / a profit and loss account / contain.
__________________________________________________________________
2.
organization / Non- profit / an income / produces / expenditure
account / and.
___________________________________________________________________
3. /the cost of sales/ the difference /
between/ sales revenue/ is gross profit /
and.
___________________________________________________________________
4.
cash flow statement/ British and American/ / produce / companies
___________________________________________________________________
5. shows/
manages /the cash flow statement/ how / cash /a company /
____________________________________________________________________
6. Sort the following words from the box
into current, fixed and intangible assets (9 points)
buildings cash in the bank debtors reputation
goodwill stock human capital investments land
Fixed Assets Current assets Intangible assets
__________ _____________
___________ __ _ _____________
___________ ____________ ______________
7. Match the words from the box with the
definitions below (5 points)
Liquidity efficiency ratio solvency deferred taxes
1.
___________________ is the ability to sell an asset for cash
.
2.
___________________ is how well a business uses its assets.
3.
___________________ is the relationship between two figures.
4.
___________________
is how
easily a business can pay bills or debts
when they are due.
5. ___________________ is money that will have to be paid as
tax in the future, although the payment does not have to be
paid now.
8. Choose one of the topics and write it down (at least
four paragraphs)
- My business experience
- Advantages and disadvantages of my job position
- What qualities does a good bookkeeper need?
