Sunday, May 15, 2011

ENGLISH LANGUAGE TEST FOR FINANCE

                                     

 Compiled by: Fazli Rrezja, English Language Teacher at Secondary Vocational School (Economy-Law) ’H.K. Prishtina”


    
                        ENGLISH LANGUAGE TEST FOR FINANCE / ECONOMY 

  1. 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  

  1. __________ is to decrease rather than increase in value.
  2. __________ are assets that will no longer be in the company in 12 months’ time.
  3. __________ are assets that will remain in the company for several years.
  4.  __________ is to record something at a different price.
  5. __________ is to become used and damaged.
  6. _________  is something out of date, needing to be replaced by something newer.
  7.   _________ is behavior that breaks the law
  8. __________ is sales revenue minus the cost of sales, before deduction for administration expenses, interest, charges, etc.
  9.   _________ is sales revenue minus the cost of making and selling the goods, and deductions for administration expenses, interest charges, etc.
  10. __________ is total amount of money  a company receives  from selling goods or services 
  11. ___________ is reducing the value of assets in the company’s accounts.
  12. ___________ is deciding how much something is worth.
  13. ___________ is deciding how big something is.
  14. ___________ is an examination of a company’s accounts by it own auditors.
  15. ___________ is an examination of  a company’s systems of internal control
  16.  ___________  is a financial statement which shows the difference between  revenues and  expenses of a period.
  17. _____________ is day-top-day activities
  18. _____________  is buying or selling property, plant and equipment.
  19. _____________  is issuing or repaying debt, or issuing shares.
  20. ______________ 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)

  1. Operations mean making money by selling goods and services.

____________________________________________________________________ 

  1. Investing is spending cash, for the business future growth, including cash acquired by selling assets.
_________________________________________________________________ 

_________________________________________________________________

  1. Financing involves raising money by issuing stocks and bonds and also paying dividends and interest and repaying bonds.
__________________________________________________________________ 

 ___________________________________________________________________

  1. A healthy cash flow means that amount of cash provided by operations is greater than the cash used for investing.
____________________________________________________________________   
   
     ____________________________________________________________________ 
    
  1. 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)

  1. My business experience  
  2. Advantages and disadvantages of my job position
  3. What qualities does a good bookkeeper need?







Search This Blog