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

Money and payment (Unit 3) Flashcards

(70 cards)

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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
direct debit
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
26
discount
a reduction in the usual cost of sth.
27
donation
a sum of money that is given to a charity (to donate money to a good cause)
28
due
required at a certain time, or on a certain date
29
economical
inexpensive to buy and use, offering good value for the money
30
exchange rate
the value of one currency for the purpose of conversion to another
31
expenditure
the total amount of money that is spent on sth.
32
expenses
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
fare
money paid for a journey on public transport (a train fare)
34
fees
payments made to professionals (e.g. lawyers)
35
fixed costs
costs that do not vary with output
36
fraud
the crime of getting money by deceiving other people (to commit fraud, to defraud someone)
37
grant
a sum of money given for a particular purpose, for example by the government
38
income
money received for work done, or from money invested or property owned
39
installment
one of a number of payments spread over an agreed period of time
40
interest
the amount charged for money that is borrowed
41
interest rate
the cost of borrowing money expressed as a percentage of the amount borrowed
42
invoice
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
(to) lease
to pay for the use of sth. with the option of finally buying it
44
liquidity
the state of having enough cash or things of value that can easily be turned into cash in order to pay debts
45
loan
a sum of money borrowed, e.g. from a bank
46
loan shark
a moneylender who charges unreasonable high-interest rates
47
loss
money that has been lost by a business
48
lump-sum payment
a single payment of money
49
margin
the amount of the price which is a profit for the seller
50
mark-up
an increase in the price of sth., usually the difference between the cost of buying/producing and the price it is sold at
51
maturity
the time when loans, investments, bonds etc. must be paid back (to reach maturity, to mature at the end of the year)
52
mortgage
a loan to buy or build a property
53
outgoings
the regular expenditure of a business
54
overdraft facility
the maximum amount of money that a holder of a bank account is allowed to borrow from the account
55
(to) owe
to have to pay back sth. that is borrowed e.g. a loan
56
(to) pay off a loan
to pay back money borrowed, plus interest
57
profit
the amount of money gained after the costs of making or getting it have been paid
58
rebate
a sum of money paid back to someone who has paid too much (e.g. for tax or rent)
59
receipt
a printed (or written) statement acknowledging that sth. has been paid for
60
refund
money returned to a customer who is not satisfied with the product or service that they purchased
61
reminder
a letter sent to someone who has not paid on the agreed date
62
revenue
the income that an organization (or state) earns, usually a large amount
63
savings
the money that a person or business saves e.g. in a bank
64
savings accounts
a long-term bank account that pays interest, but where money, but where money can only be taken out by arrangement
65
standing order
an instruction to a bank by an account holder to make regular fixed payments to a particular person or organization
66
term (of a loan)
the length of time that the loan will last
67
unit price
the price of a single item of a product
68
value added tax (VAT)
a tax that is added to the price of many goods and services
69
value-for-money
offering benefits at a lower price than one might expect
70
wealth
having a lot of money, possesions or resources

Business English (4 decks)

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