Words related to "Finance" | Essential Vocabulary for the GRE

audit

noun

au

ɔ

d

i

ɪ

t

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a formal inspection of a business's financial records to see if they are correct and accurate or not

Example

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The company underwent an audit to ensure compliance with financial regulations.

The audit revealed discrepancies in the accounting records that required further investigation.

bankroll

noun

b

a

æ

n

k

r

o

oʊ

ll

l

the total amount of money a person or business has for spending or investing

bankruptcy

noun

b

a

æ

n

k

r

u

ə

p

t

c

s

y

i

a situation in which a person or business is unable to pay due debts

voucher

noun

v

o

a

u

ʊ

ch

ʧ

e

ɜ

r

a digital code or a printed piece of paper that can be used instead of money when making a purchase or used to receive a discount

to undercut

Verb

/ˈəndɝˌkət/

to demand a lower price than one's rivals

Grammatical Information:

transitive

treasury

noun

t

r

ea

ɛ

s

ʒ

u

ɜ

r

y

i

the funds and resources that a country or organization controls

tax evasion

noun

/tˈæks ɪvˈeɪʒən/

the illegal acts done to pay less tax than what is owed or to avoid paying taxes altogether

Grammatical Information:

compound noun

taxation

noun

t

a

æ

x

ks

a

eɪ

t

ʃ

io

ə

n

the system by which a government collects money from citizens and businesses to fund public services

tariff

noun

t

a

ɛ

r

i

ə

ff

f

a tax paid on goods imported or exported

subsidy

noun

s

u

ə

b

s

i

ɪ

d

y

i

an amount of money that a government or organization pays to lower the costs of producing goods or providing services so that prices do not increase

stagflation

noun

s

t

a

æ

g

f

l

a

eɪ

t

ʃ

io

ə

n

an economic situation with persistent high inflation and a high unemployment rate

collateral

noun

c

k

o

ə

ll

l

a

æ

t

e

ɜ

r

a

ə

l

a loan guarantee that may be taken away if the loan is not repaid

contingency

noun

c

k

o

ə

n

t

i

ɪ

n

g

ʤ

e

ə

n

c

s

y

i

the funds that are set aside for unforeseen expenses that may arise in the future

cryptocurrency

noun

c

k

r

y

ɪ

p

t

o

ə

c

k

u

ɜ:

rr

r

e

ə

n

c

s

y

i

a digital or virtual form of currency secured by cryptography

depression

noun

d

e

ɪ

p

r

e

ɛ

ss

ʃ

io

ə

n

a time of little economic activity and high unemployment, which lasts for a long time

equity

noun

e

ɛ

q

k

u

w

i

ə

t

y

i

the money one owns in a property after paying back any money one borrowed to buy it

face value

noun

/fˈeɪs vˈæljuː/

the obvious meaning or worth of something, without looking deeper

Grammatical Information:

compound noun

fiscal

Adjective

f

i

ɪ

s

c

k

a

ə

l

relating to government revenue or public money, especially taxes

nonfinancial

fluctuation

noun

f

l

u

ə

c

k

t

ʧ

ua

ueɪ

t

ʃ

io

ə

n

the irregular or unpredictable variation in something over time, characterized by alternating changes

incentive

noun

i

ɪ

n

c

s

e

ɛ

n

t

i

ɪ

v

e

a payment or concession to encourage someone to do something specific

liquidity

noun

l

i

ɪ

q

k

u

w

i

ɪ

d

i

ə

t

y

i

financial assets in the form of money or able to be easily converted into money

monetarism

noun

m

o

ɑ

n

e

ə

t

a

ɜ

r

i

ɪ

s

z

ə

m

the theory or policy of controlling the amount of money in circulation as the preferred method of stabilizing the economy

overdraft

noun

/ˈoʊvɝˌdɹæft/

a deficit in a bank account caused by withdrawing more money than is available

to quote

Verb

q

k

u

w

o

oʊ

t

e

to estimate how much money something will cost

Grammatical Information:

ditransitive

commodity

noun

c

k

o

ə

mm

m

o

ɑ

d

i

ə

t

y

i

(economics) an unprocessed material that can be traded in different exchanges or marketplaces

conglomerate

noun

c

k

o

ə

n

g

l

o

ɑ

m

e

ɜ

r

a

ə

t

e

a corporation formed by merging different firms or businesses

dividend

noun

d

i

ɪ

v

i

ɪ

d

e

ɛ

n

d

an amount of money paid regularly to the shareholders of a company

proprietor

noun

p

r

o

ə

p

r

ie

aɪə

t

o

ɜ

r

the owner of a property or business

subsidiary

noun

s

u

ə

b

s

i

ɪ

d

ia

iɛ

r

y

i

a business company controlled or owned by a holding or parent company

venture

noun

v

e

ɛ

n

t

ʧ

u

ɜ

r

e

a business activity that is mostly very risky

artisan

noun

a

ɑ

r

t

i

ə

s

z

a

ə

n

a skilled craftsperson who creates objects partly or entirely by hand

Who is an "artisan"?

An artisan is a skilled worker who creates handmade objects, often with a focus on quality and detail. Artisans work in various fields or trades, such as pottery, woodworking, metalworking, or textiles, and use their skills to produce unique and carefully made items. Their work is often characterized by attention to detail and a high level of skill. Artisans may create functional items, like furniture or clothing, or decorative pieces, like jewelry or artwork. They often work independently or in small workshops, valuing traditional methods and a personal touch in their creations.

labor-intensive

Adjective

/lˈeɪbɚɹɪntˈɛnsɪv/

related to a line of work that requires large groups of workers to be able to function

menial

Adjective

m

e

i

n

ia

iə

l

(of work) not requiring special skills, often considered unimportant and poorly paid

painstaking

Adjective

p

ai

eɪ

n

s

t

a

eɪ

k

i

ɪ

n

g

requiring a lot of effort and time

sabbatical

noun

s

a

ə

bb

b

a

æ

t

i

ɪ

c

k

a

ə

l

a paid leave from work, often taken every seven years, for study or personal growth

What is a "sabbatical"?

A sabbatical is a period of leave granted to an employee, often in academia or research, to take time away from their regular duties. It is typically an extended break, lasting several months or even a year, to focus on personal projects, research, travel, or rest. Sabbaticals are usually offered after a certain number of years of service, allowing the individual to recharge and return to work with renewed energy and ideas. For academics, it is often a chance to conduct research, write, or further their studies without the usual work responsibilities.

taxing

Adjective

t

a

æ

x

ks

i

ɪ

n

g

demanding or requiring a considerable amount of effort and energy to deal with

tedious

Adjective

t

e

i

d

iou

iə

s

boring and repetitive, often causing frustration or weariness due to a lack of variety or interest

minute

noun

m

i

ɪ

n

u

ɪ

t

e

a written record summarizing the proceedings and decisions made

hectic

Adjective

h

e

ɛ

c

k

t

i

ɪ

c

k

extremely busy and chaotic

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