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Business English > Money and payment (Unit 3) > Flashcards

Money and payment (Unit 3) Flashcards

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Proverbs and Idioms flashcards
1
Q

account

A
  1. a record or statement of financial expenditure (a set of accounts)
  2. an arrangement where a bank holds funds for a client
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2
Q

affordable

A

not too expensive to buy

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3
Q

allocation

A

the distribution of resources or duties for a particular purpose (to allocate resources)

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4
Q

bank statement

A

information sent by a bank to a customer, showing payment transactions over a particular period

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5
Q

bill

A

a printed or written statement of money owed for goods or service

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6
Q

budget

A

an amount of money that a business can spend on particular activities or equipment (a generous budget, to keep a budget, to budget carefully)

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7
Q

cash discount

A

a price reduction given if a customer pays immediately or in cash (=early-setttlement discount, early-payment discount)

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8
Q

cash flow

A

the balance between money received and paid by a business in a particular period, especially as its affects liquidity

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9
Q

charge

A

the amount of money that someone asks in return for goods or services (to be free of charge, to charge customers for delivery)

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10
Q

commission

A

an amount of money, typically a percentage of the value involved, paid to an agent in a commercial transaction

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11
Q

credit control

A

a system used by a business to makes sure that gives credit only to customers who are able to pay, and also that customers pay on time

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12
Q

credit limit

A

the maximum amount that a lender will give a borrower

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13
Q

credit risk

A

the possibility a borrower will not repay a loan

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14
Q

credit transfer

A

direct payment of money from one bank account to another

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15
Q

(to) credit

A

to add an amount of money to an account

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16
Q

creditor

A

a person or company to whom money is owned (=lender)

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17
Q

creditworthiness

A

the extent to which a borrower can be trusted to repay debt (=credit standing)

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18
Q

currency

A

the system of money in use in a particular country

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19
Q

current account

AE checking account

A

an account with a bank from which money can be taken out (or paid in) at any time without notice

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20
Q

debit card

A

a card allowing the holder to transfer money electronically from their bank account when making a purchase

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21
Q

(to) debit

A

to remove an amount of money from an account

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22
Q

debt

A

a sum of money that is owed (to be in debt, to pay back your debts)

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23
Q

(to) default

A

to fail to repay a debt or loan

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24
Q

deposit

A
  1. a payment into a bank account, usually to gain interest
  2. a sum payable as a first instalment on a purchase
    (to put/pay a deposit of 3.000$ on a house),
  3. a returnable sum payable on the rental of sth., to cover any loss or damages
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25
Q

direct debit

A

an arrangement made with a bank that allows a third party to transfer money from an account on agreed dates, typically to pay regular bills

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26
Q

discount

A

a reduction in the usual cost of sth.

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27
Q

donation

A

a sum of money that is given to a charity (to donate money to a good cause)

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28
Q

due

A

required at a certain time, or on a certain date

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29
Q

economical

A

inexpensive to buy and use, offering good value for the money

30
Q

exchange rate

A

the value of one currency for the purpose of conversion to another

31
Q

expenditure

A

the total amount of money that is spent on sth.

32
Q

expenses

A

money spent while doing sth. that is connected with one´s work and that can be claimed back from one´s employer (e.g. travel expenses)

33
Q

fare

A

money paid for a journey on public transport (a train fare)

34
Q

fees

A

payments made to professionals (e.g. lawyers)

35
Q

fixed costs

A

costs that do not vary with output

36
Q

fraud

A

the crime of getting money by deceiving other people (to commit fraud, to defraud someone)

37
Q

grant

A

a sum of money given for a particular purpose, for example by the government

38
Q

income

A

money received for work done, or from money invested or property owned

39
Q

installment

A

one of a number of payments spread over an agreed period of time

40
Q

interest

A

the amount charged for money that is borrowed

41
Q

interest rate

A

the cost of borrowing money expressed as a percentage of the amount borrowed

42
Q

invoice

A

a list of goods or services that have been sold or work that has been done, showing what needs to be paid (to invoice someone for sth.)

43
Q

(to) lease

A

to pay for the use of sth. with the option of finally buying it

44
Q

liquidity

A

the state of having enough cash or things of value that can easily be turned into cash in order to pay debts

45
Q

loan

A

a sum of money borrowed, e.g. from a bank

46
Q

loan shark

A

a moneylender who charges unreasonable high-interest rates

47
Q

loss

A

money that has been lost by a business

48
Q

lump-sum payment

A

a single payment of money

49
Q

margin

A

the amount of the price which is a profit for the seller

50
Q

mark-up

A

an increase in the price of sth., usually the difference between the cost of buying/producing and the price it is sold at

51
Q

maturity

A

the time when loans, investments, bonds etc. must be paid back (to reach maturity, to mature at the end of the year)

52
Q

mortgage

A

a loan to buy or build a property

53
Q

outgoings

A

the regular expenditure of a business

54
Q

overdraft facility

A

the maximum amount of money that a holder of a bank account is allowed to borrow from the account

55
Q

(to) owe

A

to have to pay back sth. that is borrowed e.g. a loan

56
Q

(to) pay off a loan

A

to pay back money borrowed, plus interest

57
Q

profit

A

the amount of money gained after the costs of making or getting it have been paid

58
Q

rebate

A

a sum of money paid back to someone who has paid too much (e.g. for tax or rent)

59
Q

receipt

A

a printed (or written) statement acknowledging that sth. has been paid for

60
Q

refund

A

money returned to a customer who is not satisfied with the product or service that they purchased

61
Q

reminder

A

a letter sent to someone who has not paid on the agreed date

62
Q

revenue

A

the income that an organization (or state) earns, usually a large amount

63
Q

savings

A

the money that a person or business saves e.g. in a bank

64
Q

savings accounts

A

a long-term bank account that pays interest, but where money, but where money can only be taken out by arrangement

65
Q

standing order

A

an instruction to a bank by an account holder to make regular fixed payments to a particular person or organization

66
Q

term (of a loan)

A

the length of time that the loan will last

67
Q

unit price

A

the price of a single item of a product

68
Q

value added tax (VAT)

A

a tax that is added to the price of many goods and services

69
Q

value-for-money

A

offering benefits at a lower price than one might expect

70
Q

wealth

A

having a lot of money, possesions or resources

Business English (4 decks)

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