C1 - Vocabulary Flashcards
1
Q
Amortization
A
The process of gradually writing off the initial cost of an asset.
2
Q
Arbitrage
A
The simultaneous buying and selling of securities, currency, or commodities in different markets to take advantage of differing prices for the same asset.
3
Q
Auditor
A
A person authorized to review and verify the accuracy of financial records and ensure that companies comply with tax laws.
4
Q
Balance sheet
A
A statement of the assets, liabilities, and capital of a business at a particular point in time.
5
Q
Capital expenditure
A
Funds used by a company to acquire or upgrade physical assets such as property, industrial buildings, or equipment.
