Finance 1

Question 1

Staying (keep) afloat

Answer 1

➡️having enough money to pay what you owe
🔘Ex: They are borrowing just to stay afloat, not for investment.
🔘Ex: A number of efforts were being made to keep the company afloat.

Question 2

Supplement (your income)

Answer 2

➡️add something to something to make it larger or better.

🔘Ex: you need to supplement your income by getting some kind of part-time work.

Question 3

Cut down on luxuries

Answer 3

➡️cut down (on something): to do or use less of something.
🔘Ex: you have to economize by, say, cutting down on luxuries.
🔘Ex: I’m trying to cut down on caffeine

Question 4

Outstanding debts

Answer 4

➡️debts which not yet paid
🔘Ex: Always seek advice from your bank about how to clear outstanding debts and “pay back loan”.

Question 5

Overdraft

Answer 5

➡️amount of money that a customer with a bank account is temporarily allowed to owe to the bank / a deficit in a bank account caused by drawing more money than the account holds.
🔘Ex: when I left Cambridge I had a $900 overdraft
🔘Ex: Never “run up an overdraft” if you can avoid it.

Question 6

Spend a fortune

Answer 6

➡️ to give a lot of money. something extremely expensive. anything which has a high price
🔘Ex: he spent a fortune staying at expensive hotels

Question 7

Run up

Answer 7

➡️ accumulate / gather together or acquire an increasing number or quantity of.
🔘Ex: he managed to run up a bill of £17,000 at one hotel.
🔘Ex: they accumulated a large debt

Question 8

Falsified

Answer 8

➡️ change something, e.g. a document,in order to deceive people.
🔘Ex: he used his employer’s funds and falsified records.
◾️Syn: fake , forge

Question 9

Fraudulent (claims)

Answer 9

➡️ obtained, done by, or involving deception, especially criminal deception.
🔘Ex: he made fraudulent claims for travel expenses.

Question 10

Put down a deposit

Answer 10

➡️pay a sum of money in advance as part of a total payment.
🔘Ex: people are being encouraged to put down a deposit on new homes, thanks to low interest rate.