Money matters 1

money 0 terms 20 questions TOEIC Part 5, Part 6, Part 7

Your task

Exer cise 1 : Explain the differences between the words and expressions in bold in the following groups. Exer cise 2 : Complete these paragraphs with appropriate words or expressions from Exercise 1. In some cases you will need to change the form of the word, and in some cases more than one answer may be possible. Also see Money matters 2 on pages 32 and 33, Earnings, rewards and benefits on pages 16 and 17, and Shopping and consumerism on pages 47 and 48. (0-7475-6989-4).

Practice

1 To lend and to borrow 2. Inflation and deflation

3 A discount and a refund 4. Income and expenditure

5 To be insolvent and to be bankrupt

6 A bank statement and a bank balance

7 To be in the red and to be in the black

9 To make a profit and to make a loss 10. Gross profit and net profit

11 To be undercharged and to be overcharged

12 Something which is overpriced and something which is exorbitant

13 To save money and to invest money

14 A wage and a salary 15. Extravagant and economical

17 A loan and an overdraft 18. Shares and stocks 19. Commission and interest

20 Something which is worthless and something which is priceless

22 A pension and redundancy pay

23 A dividend and a royalty 24. Tax and duty

25 To deposit money and to withdraw money

1 The store is happy to exchange faulty goods, but it can only offer customers a ________ on production of a valid ________.

2 Customer: Excuse me, waiter. I think you've ________ me. This ________ says that my pizza cost $30.50. Waiter: That's correct sir. It's $25, plus a service charge of 10%, and government ________ of 12%. Customer: Well I think that's an ________ price to pay for a pizza!

3 This month's bank ________ shows that we have an ________ of $800. We can't afford to be ________ to such a large amount. It's time we reduced our ________.

4 Our sales representatives receive a basic ________ (pre-tax) annual ________ of $20,000, plus a 10% ________ for each item they sell. On average, their ________ (post-tax) ________ is around $45,000 a year.

5 The company was declared ________ after it was unable to pay off all its debts. Many people who lost their jobs as a result did not receive ________, and those who were about to retire lost half of their ________. People who had ________ heavily in the company saw their ________ become completely ________.