Business and Economics Quizs - business english

Board of Directors

• A group of individuals elected to oversee a company’s activities and make strategic decisions.

• A team of employees responsible for daily operations.

• A committee that handles customer complaints and feedback.

• A group of shareholders who invest in the company.

Mission Statement

• A detailed report on company finances.

• A brief statement defining a company’s purpose, goals, and values.

• A list of all employees in the company.

• A marketing strategy for product promotion.

Merger

• The combination of two or more companies into a single entity.

• A process of acquiring a single company by another company.

• A legal agreement to form a partnership between two companies.

• The division of a company into smaller independent entities.

Retained Earnings

• The portion of a company’s profits paid as dividends to shareholders.

• The portion of a company’s profits kept for reinvestment rather than paid as dividends.

• The total amount of money a company has in its bank account.

• The amount of money a company owes to its creditors.

Accounts Receivable

• Money owed to a business by its customers for goods or services sold on credit.

• A type of expense incurred by a business.

• Cash reserves held by a business for future investments.

• Inventory that has not yet been sold.

Negotiation

• A discussion aimed at reaching an agreement between two or more parties.

• A formal agreement that is legally binding.

• A method of conflict resolution that involves a third party.

• A process of making a decision without any discussion.

Bank Loan

• Money borrowed from a bank that must be repaid with interest over time.

• A type of savings account that earns interest.

• A government grant that does not need to be repaid.

• A credit card limit that can be used for purchases.

Equity

• The total value of a business's assets.

• The value of ownership in a business after subtracting liabilities from assets.

• The amount of money a business makes in profit.

• The total liabilities of a business.

Bankruptcy

• A legal status where a business or individual cannot repay debts, often leading to asset liquidation.

• A financial strategy to increase profits by reducing expenses.

• A process of acquiring new assets to improve business performance.

• A method of investing in stocks to maximize returns.

Expense

• The cost incurred by a business to operate, such as rent, wages, or utilities.

• A type of income generated from sales.

• A financial statement showing profits and losses.

• A budget plan for future expenditures.